VDADX vs. TBUX

Last updated Jun 13, 2026

VDADX (Vanguard Dividend Appreciation Index Fund Admiral Shares) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both funds - VDADX is a Dividend fund tracking the S&P U.S. Dividend Growers Index, while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. VDADX is passively managed, while TBUX is actively managed. Over the past 3 years, VDADX returned 15.97%/yr vs 5.89%/yr for TBUX. At a 0.11 correlation, their price movements are largely independent. VDADX charges 0.07%/yr vs 0.17%/yr for TBUX.

Performance

VDADX vs. TBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VDADX achieves a 7.11% return, which is significantly higher than TBUX's 1.83% return.

VDADX

• 1D: 1.27%
• 1M: 2.55%
• YTD: 7.11%
• 6M: 6.43%
• 1Y: 17.59%
• 3Y*: 15.97%
• 5Y*: 10.60%
• 10Y*: 13.17%

TBUX

• 1D: 0.00%
• 1M: 0.39%
• YTD: 1.83%
• 6M: 2.14%
• 1Y: 4.81%
• 3Y*: 5.89%
• 5Y*: —
• 10Y*: —

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

VDADX vs. TBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VDADX Vanguard Dividend Appreciation Index Fund Admiral Shares	7.11%	14.17%	16.99%	14.44%	-9.80%	11.03%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	1.83%	5.37%	6.38%	6.39%	-0.13%	-0.25%

Correlation

The correlation between VDADX and TBUX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.11

The correlation between VDADX and TBUX shifts across timeframes, from 0.09 (3 years) to 0.20 (1 year), reflecting how their relationship changes across market environments.

VDADX vs. TBUX - Sectors Allocation Comparison

Sectors	VDADX	TBUX
Technology	26.2%	52.7%
Financial Services	20.6%	0.5%
Healthcare	16.5%	5.0%
Industrials	11.8%	3.5%
Consumer Defensive	10.1%	5.5%
Consumer Cyclical	4.7%	14.3%
Energy	3.5%	0.6%
Basic Materials	3.5%	1.3%
Utilities	3.2%	1.2%
Communication Services	0.5%	15.2%
Real Estate	-	0.2%

Return for Risk

VDADX vs. TBUX — Risk / Return Rank

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

VDADX

VDADX Risk / Return Rank: 60
VDADX Sharpe Ratio Rank: 61
VDADX Sortino Ratio Rank: 65
VDADX Omega Ratio Rank: 57
VDADX Calmar Ratio Rank: 56
VDADX Martin Ratio Rank: 59

TBUX

TBUX Risk / Return Rank: 99
TBUX Sharpe Ratio Rank: 99
TBUX Sortino Ratio Rank: 99
TBUX Omega Ratio Rank: 99
TBUX Calmar Ratio Rank: 99
TBUX Martin Ratio Rank: 99

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.

VDADX vs. TBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VDADX	TBUX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	7.19	-5.38
Sortino ratio: Return per unit of downside risk	2.61	14.51	-11.90
Omega ratio: Gain probability vs. loss probability	1.32	3.12	-1.80
Calmar ratio: Return relative to maximum drawdown	2.33	48.17	-45.83
Martin ratio: Return relative to average drawdown	9.37	182.82	-173.46

VDADX vs. TBUX - Sharpe Ratio Comparison

The current VDADX Sharpe Ratio is 1.80, which is lower than the TBUX Sharpe Ratio of 7.19. The chart below compares the historical Sharpe Ratios of VDADX and TBUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VDADX vs. TBUX - Drawdown Comparison

The maximum VDADX drawdown since its inception was -31.70%, which is greater than TBUX's maximum drawdown of -1.82%. Use the drawdown chart below to compare losses from any high point for VDADX and TBUX.

Drawdown Indicators

	VDADX	TBUX	Difference
Max Drawdown Largest peak-to-trough decline	-31.70%	-1.82%	-29.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.93%	-0.10%	-7.83%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-0.33%	-14.62%
Max Drawdown (5Y) Largest decline over 5 years	-20.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.70%	—	—
Current Drawdown Current decline from peak	-0.81%	0.00%	-0.81%
Average Drawdown Average peak-to-trough decline	-3.40%	-0.28%	-3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	0.03%	+1.94%

Volatility

VDADX vs. TBUX - Volatility Comparison

Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX) has a higher volatility of 2.95% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.22%. This indicates that VDADX's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDADX	TBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	0.22%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	0.46%	+7.41%
Volatility (1Y) Calculated over the trailing 1-year period	10.27%	0.67%	+9.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	1.07%	+13.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	1.07%	+15.13%

VDADX vs. TBUX - Expense Ratio Comparison

VDADX has a 0.07% expense ratio, which is lower than TBUX's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VDADX vs. TBUX - Dividend Comparison

VDADX's dividend yield for the trailing twelve months is around 1.45%, less than TBUX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TBUX T. Rowe Price Ultra Short-Term Bond ETF	4.48%	4.67%	5.39%	4.66%	2.58%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDADX Vanguard Dividend Appreciation Index Fund Admiral Shares	1.45%	1.60%	1.71%	1.86%	1.94%	1.53%	1.61%	1.69%	2.07%	1.88%	2.14%	2.34%

Frequently Asked Questions

Can I hold both VDADX and TBUX in my portfolio?

VDADX and TBUX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VDADX or TBUX?

VDADX has higher volatility (2.95%) compared to TBUX (0.22%). In terms of maximum drawdown, VDADX dropped -31.70% vs TBUX's -1.82%.

Which has better risk-adjusted returns?

TBUX currently has the higher Sharpe Ratio (7.19 vs 1.80), 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.