USSBX vs. BSV

Last updated Jun 6, 2026

USSBX (USAA Short Term Bond Fund) and BSV (Vanguard Short-Term Bond Index Fund ETF Shares) are both Short-Term Bond funds. Over the past 10 years, USSBX returned 3.10%/yr vs 1.93%/yr for BSV. A 0.60 correlation means they provide meaningful diversification when combined. USSBX charges 0.54%/yr vs 0.03%/yr for BSV.

Performance

USSBX vs. BSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Short Term Bond Fund (USSBX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USSBX achieves a 1.11% return, which is significantly higher than BSV's 0.11% return. Over the past 10 years, USSBX has outperformed BSV with an annualized return of 3.10%, while BSV has yielded a comparatively lower 1.93% annualized return.

USSBX

• 1D: 0.00%
• 1M: 0.16%
• YTD: 1.11%
• 6M: 1.62%
• 1Y: 4.39%
• 3Y*: 5.86%
• 5Y*: 3.19%
• 10Y*: 3.10%

BSV

• 1D: -0.26%
• 1M: -0.36%
• YTD: 0.11%
• 6M: 0.49%
• 1Y: 3.38%
• 3Y*: 4.36%
• 5Y*: 1.58%
• 10Y*: 1.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

USSBX vs. BSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USSBX USAA Short Term Bond Fund	1.11%	5.79%	6.21%	5.99%	-2.95%	1.08%	4.75%	5.00%	1.24%	2.30%
BSV Vanguard Short-Term Bond Index Fund ETF Shares	0.11%	6.00%	3.78%	4.90%	-5.49%	-1.09%	4.70%	4.98%	1.34%	1.20%

Correlation

The correlation between USSBX and BSV is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007	0.60

The correlation between USSBX and BSV shifts across timeframes, from 0.60 (all time) to 0.76 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

USSBX vs. BSV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USSBX

USSBX Risk / Return Rank: 87
USSBX Sharpe Ratio Rank: 74
USSBX Sortino Ratio Rank: 94
USSBX Omega Ratio Rank: 92
USSBX Calmar Ratio Rank: 87
USSBX Martin Ratio Rank: 89

BSV

BSV Risk / Return Rank: 58
BSV Sharpe Ratio Rank: 57
BSV Sortino Ratio Rank: 66
BSV Omega Ratio Rank: 59
BSV Calmar Ratio Rank: 54
BSV Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

USSBX vs. BSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Short Term Bond Fund (USSBX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	USSBX	BSV	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.87	+0.55
Sortino ratio: Return per unit of downside risk	4.77	2.96	+1.81
Omega ratio: Gain probability vs. loss probability	1.69	1.35	+0.34
Calmar ratio: Return relative to maximum drawdown	4.06	2.63	+1.43
Martin ratio: Return relative to average drawdown	16.88	9.17	+7.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USSBX vs. BSV - Sharpe Ratio Comparison

The current USSBX Sharpe Ratio is 2.43, which is comparable to the BSV Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of USSBX and BSV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USSBX	BSV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	1.87	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.61	0.58	+1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.74	0.81	+0.93
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	0.85	+0.84

Drawdowns

USSBX vs. BSV - Drawdown Comparison

The maximum USSBX drawdown since its inception was -6.87%, smaller than the maximum BSV drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for USSBX and BSV.

Drawdown Indicators

	USSBX	BSV	Difference
Max Drawdown Largest peak-to-trough decline	-6.87%	-8.54%	+1.67%
Max Drawdown (1Y) Largest decline over 1 year	-1.09%	-1.29%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-1.09%	-1.53%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-5.11%	-8.54%	+3.43%
Max Drawdown (10Y) Largest decline over 10 years	-5.57%	-8.54%	+2.97%
Current Drawdown Current decline from peak	-0.11%	-0.81%	+0.70%
Average Drawdown Average peak-to-trough decline	-0.63%	-0.97%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.37%	-0.11%

Volatility

USSBX vs. BSV - Volatility Comparison

USAA Short Term Bond Fund (USSBX) has a higher volatility of 0.61% compared to Vanguard Short-Term Bond Index Fund ETF Shares (BSV) at 0.55%. This indicates that USSBX's price experiences larger fluctuations and is considered to be riskier than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSBX	BSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	0.55%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	1.36%	1.28%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	1.82%	1.81%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.99%	2.73%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.79%	2.37%	-0.58%

USSBX vs. BSV - Expense Ratio Comparison

USSBX has a 0.54% expense ratio, which is higher than BSV's 0.03% expense ratio.

Dividends

USSBX vs. BSV - Dividend Comparison

USSBX's dividend yield for the trailing twelve months is around 4.54%, more than BSV's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSV Vanguard Short-Term Bond Index Fund ETF Shares	4.00%	3.83%	3.38%	2.46%	1.50%	1.45%	1.79%	2.29%	1.99%	1.65%	1.48%	1.40%
USSBX USAA Short Term Bond Fund	4.54%	4.51%	4.32%	3.37%	2.38%	2.72%	3.41%	2.79%	2.44%	1.94%	1.86%	1.69%

Frequently Asked Questions

Can I hold both USSBX and BSV in my portfolio?

USSBX and BSV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USSBX or BSV?

USSBX has higher volatility (0.61%) compared to BSV (0.55%). In terms of maximum drawdown, USSBX dropped -6.87% vs BSV's -8.54%.

Which has better risk-adjusted returns?

USSBX currently has the higher Sharpe Ratio (2.43 vs 1.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.