VOT vs. TBUX

Last updated Jun 9, 2026

VOT (Vanguard Mid-Cap Growth ETF) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both exchange-traded funds - VOT is a Mid Cap Growth Equities fund tracking the CRSP US Mid Cap Growth Index, while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. VOT is passively managed, while TBUX is actively managed. Over the past 3 years, VOT returned 15.09%/yr vs 5.85%/yr for TBUX. At a 0.12 correlation, their price movements are largely independent. VOT charges 0.05%/yr vs 0.17%/yr for TBUX.

Performance

VOT vs. TBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Growth ETF (VOT) 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, VOT achieves a 5.49% return, which is significantly higher than TBUX's 1.69% return.

VOT

• 1D: 0.12%
• 1M: 1.80%
• YTD: 5.49%
• 6M: 3.73%
• 1Y: 7.75%
• 3Y*: 15.09%
• 5Y*: 6.19%
• 10Y*: 11.95%

TBUX

• 1D: 0.06%
• 1M: 0.29%
• YTD: 1.69%
• 6M: 2.08%
• 1Y: 4.88%
• 3Y*: 5.85%
• 5Y*: —
• 10Y*: —

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

VOT vs. TBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VOT Vanguard Mid-Cap Growth ETF	5.49%	10.72%	16.38%	23.10%	-28.87%	7.35%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	1.69%	5.37%	6.38%	6.39%	-0.13%	-0.22%

Correlation

The correlation between VOT and TBUX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.12

VOT vs. TBUX - Sectors Allocation Comparison

Sectors	VOT	TBUX
Technology	28.9%	52.7%
Industrials	23.7%	3.5%
Consumer Cyclical	13.9%	14.3%
Healthcare	9.3%	5.0%
Financial Services	6.8%	0.5%
Real Estate	4.8%	0.2%
Communication Services	3.8%	15.2%
Utilities	3.5%	1.2%
Energy	2.7%	0.6%
Basic Materials	1.8%	1.3%
Consumer Defensive	0.8%	5.5%

Return for Risk

VOT vs. TBUX — Risk / Return Rank

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

VOT

VOT Risk / Return Rank: 17
VOT Sharpe Ratio Rank: 17
VOT Sortino Ratio Rank: 17
VOT Omega Ratio Rank: 16
VOT Calmar Ratio Rank: 15
VOT Martin Ratio Rank: 16

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.

VOT vs. TBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Growth ETF (VOT) 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.

	VOT	TBUX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	7.27	-6.79
Sortino ratio: Return per unit of downside risk	0.77	14.70	-13.93
Omega ratio: Gain probability vs. loss probability	1.09	3.15	-2.06
Calmar ratio: Return relative to maximum drawdown	0.49	48.80	-48.31
Martin ratio: Return relative to average drawdown	1.46	185.24	-183.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VOT vs. TBUX - Sharpe Ratio Comparison

The current VOT Sharpe Ratio is 0.48, which is lower than the TBUX Sharpe Ratio of 7.27. The chart below compares the historical Sharpe Ratios of VOT 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.

Sharpe Ratios by Period

	VOT	TBUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	7.27	-6.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	3.88	-3.44

Drawdowns

VOT vs. TBUX - Drawdown Comparison

The maximum VOT drawdown since its inception was -60.16%, which is greater than TBUX's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for VOT and TBUX.

Drawdown Indicators

	VOT	TBUX	Difference
Max Drawdown Largest peak-to-trough decline	-60.16%	-1.79%	-58.37%
Max Drawdown (1Y) Largest decline over 1 year	-15.96%	-0.10%	-15.86%
Max Drawdown (3Y) Largest decline over 3 years	-21.77%	-0.33%	-21.44%
Max Drawdown (5Y) Largest decline over 5 years	-37.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.19%	—	—
Current Drawdown Current decline from peak	-3.48%	-0.04%	-3.44%
Average Drawdown Average peak-to-trough decline	-9.96%	-0.28%	-9.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.33%	0.03%	+5.30%

Volatility

VOT vs. TBUX - Volatility Comparison

Vanguard Mid-Cap Growth ETF (VOT) has a higher volatility of 5.45% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.22%. This indicates that VOT'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

	VOT	TBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.45%	0.22%	+5.23%
Volatility (6M) Calculated over the trailing 6-month period	12.85%	0.46%	+12.39%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	0.67%	+15.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	1.07%	+20.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	1.07%	+19.95%

VOT vs. TBUX - Expense Ratio Comparison

VOT has a 0.05% 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

VOT vs. TBUX - Dividend Comparison

VOT's dividend yield for the trailing twelve months is around 0.63%, 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%
VOT Vanguard Mid-Cap Growth ETF	0.63%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.81%

Frequently Asked Questions

Can I hold both VOT and TBUX in my portfolio?

VOT and TBUX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOT or TBUX?

VOT has higher volatility (5.45%) compared to TBUX (0.22%). In terms of maximum drawdown, VOT dropped -60.16% vs TBUX's -1.79%.

Which ETF is better, VOT or TBUX?

On 3-year performance, VOT leads with 15.09% vs 5.85% for TBUX. On fees, VOT is cheaper at 0.05% per year. On volatility, TBUX has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VOT or TBUX?

Over the 3-year period, VOT has performed better with a 15.09% return vs 5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOT or TBUX?

VOT is cheaper with a 0.05% expense ratio, compared with 0.17% for TBUX.

Which ETF pays a higher dividend yield, VOT or TBUX?

TBUX has the higher dividend yield at 4.48%, compared with 0.63% for VOT.

What is the main difference between VOT and TBUX?

VOT is categorized as Mid Cap Growth Equities, while TBUX is Ultrashort Bond. They also come from different issuers: Vanguard and T. Rowe Price. Their fees differ too: 0.05% for VOT and 0.17% for TBUX.

Which has better risk-adjusted returns?

TBUX currently has the higher Sharpe Ratio (7.27 vs 0.48), 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.