VICE vs. CVSB

Last updated Jul 12, 2026

VICE (AdvisorShares Vice ETF) and CVSB (Calvert Ultra-Short Investment Grade ETF) are both exchange-traded funds - VICE is a Consumer Discretionary Equities fund actively managed by AdvisorShares, while CVSB is a Ultrashort Bond fund actively managed by Calvert. Both are actively managed. Over the past 3 years, VICE returned 6.60%/yr vs 5.45%/yr for CVSB. At a 0.02 correlation, their price movements are largely independent. VICE charges 0.99%/yr vs 0.24%/yr for CVSB.

Performance

VICE vs. CVSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Vice ETF (VICE) and Calvert Ultra-Short Investment Grade ETF (CVSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VICE achieves a 5.76% return, which is significantly higher than CVSB's 1.84% return.

VICE

• 1D: 0.69%
• 1M: -1.23%
• 6M: 5.55%
• YTD: 5.76%
• 1Y: -2.15%
• 3Y*: 6.60%
• 5Y*: 0.51%
• 10Y*: —

CVSB

• 1D: 0.02%
• 1M: 0.22%
• 6M: 1.73%
• YTD: 1.84%
• 1Y: 4.34%
• 3Y*: 5.45%
• 5Y*: —
• 10Y*: —

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

VICE vs. CVSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VICE AdvisorShares Vice ETF	5.76%	1.56%	18.27%	-2.58%
CVSB Calvert Ultra-Short Investment Grade ETF	1.84%	4.92%	6.23%	5.45%

Correlation

The correlation between VICE and CVSB is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.02

The correlation between VICE and CVSB shifts across timeframes, from -0.09 (1 year) to 0.03 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VICE vs. CVSB — Risk / Return Rank

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

VICE

VICE Risk / Return Rank: 7
VICE Sharpe Ratio Rank: 7
VICE Sortino Ratio Rank: 7
VICE Omega Ratio Rank: 7
VICE Calmar Ratio Rank: 7
VICE Martin Ratio Rank: 8

CVSB

CVSB Risk / Return Rank: 99
CVSB Sharpe Ratio Rank: 99
CVSB Sortino Ratio Rank: 99
CVSB Omega Ratio Rank: 99
CVSB Calmar Ratio Rank: 99
CVSB 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.

VICE vs. CVSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Vice ETF (VICE) and Calvert Ultra-Short Investment Grade ETF (CVSB). 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.

	VICE	CVSB	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	5.26	-5.49
Sortino ratio: Return per unit of downside risk	-0.23	9.22	-9.45
Omega ratio: Gain probability vs. loss probability	0.97	2.45	-1.48
Calmar ratio: Return relative to maximum drawdown	-0.23	19.32	-19.54
Martin ratio: Return relative to average drawdown	-0.38	81.79	-82.17

VICE vs. CVSB - Sharpe Ratio Comparison

The current VICE Sharpe Ratio is -0.23, which is lower than the CVSB Sharpe Ratio of 5.26. The chart below compares the historical Sharpe Ratios of VICE and CVSB, 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

VICE vs. CVSB - Drawdown Comparison

The maximum VICE drawdown since its inception was -38.27%, which is greater than CVSB's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for VICE and CVSB.

Drawdown Indicators

	VICE	CVSB	Difference
Max Drawdown Largest peak-to-trough decline	-38.27%	-0.63%	-37.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-0.23%	-13.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-0.63%	-18.92%
Max Drawdown (5Y) Largest decline over 5 years	-29.92%	—	—
Current Drawdown Current decline from peak	-6.24%	-0.09%	-6.15%
Average Drawdown Average peak-to-trough decline	-12.30%	-0.05%	-12.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.03%	0.05%	+7.98%

Volatility

VICE vs. CVSB - Volatility Comparison

AdvisorShares Vice ETF (VICE) has a higher volatility of 4.30% compared to Calvert Ultra-Short Investment Grade ETF (CVSB) at 0.27%. This indicates that VICE's price experiences larger fluctuations and is considered to be riskier than CVSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VICE	CVSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	0.27%	+4.03%
Volatility (6M) Calculated over the trailing 6-month period	9.62%	0.56%	+9.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.51%	0.84%	+12.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.65%	1.31%	+16.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.14%	1.31%	+17.83%

VICE vs. CVSB - Expense Ratio Comparison

VICE has a 0.99% expense ratio, which is higher than CVSB's 0.24% expense ratio.

Dividends

VICE vs. CVSB - Dividend Comparison

VICE's dividend yield for the trailing twelve months is around 0.74%, less than CVSB's 4.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVSB Calvert Ultra-Short Investment Grade ETF	4.31%	4.72%	5.13%	4.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VICE AdvisorShares Vice ETF	0.74%	0.79%	1.46%	1.69%	0.96%	0.99%	0.00%	2.47%	1.72%	0.17%

Frequently Asked Questions

Can I hold both VICE and CVSB in my portfolio?

VICE and CVSB have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VICE or CVSB?

VICE has higher volatility (4.30%) compared to CVSB (0.27%). In terms of maximum drawdown, VICE dropped -38.27% vs CVSB's -0.63%.

Which ETF is better, VICE or CVSB?

On 3-year performance, VICE leads with 6.60% vs 5.45% for CVSB. On fees, CVSB is cheaper at 0.24% per year. On volatility, CVSB has been the lower-risk option at 0.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VICE or CVSB?

Over the 3-year period, VICE has performed better with a 6.60% return vs 5.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VICE or CVSB?

CVSB is cheaper with a 0.24% expense ratio, compared with 0.99% for VICE.

Which ETF pays a higher dividend yield, VICE or CVSB?

CVSB has the higher dividend yield at 4.31%, compared with 0.74% for VICE.

What is the main difference between VICE and CVSB?

VICE is categorized as Consumer Discretionary Equities, while CVSB is Ultrashort Bond. They also come from different issuers: AdvisorShares and Calvert. Their fees differ too: 0.99% for VICE and 0.24% for CVSB.

Which has better risk-adjusted returns?

CVSB currently has the higher Sharpe Ratio (5.26 vs -0.23), 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.