VUSB vs. ULST
VUSB (Vanguard Ultra-Short Bond ETF) and ULST (State Street Ultra Short Term Bond ETF) are both Ultrashort Bond funds. VUSB is actively managed, while ULST is passively managed. Over the past 5 years, VUSB returned 3.42%/yr vs 3.52%/yr for ULST. At a 0.44 correlation, their price movements are largely independent. VUSB charges 0.10%/yr vs 0.20%/yr for ULST.
Performance
VUSB vs. ULST - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VUSB achieves a 1.33% return, which is significantly higher than ULST's 1.25% return.
VUSB
- 1D
- 0.02%
- 1M
- 0.20%
- YTD
- 1.33%
- 6M
- 1.71%
- 1Y
- 4.51%
- 3Y*
- 5.34%
- 5Y*
- 3.42%
- 10Y*
- —
ULST
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 1.25%
- 6M
- 1.58%
- 1Y
- 3.95%
- 3Y*
- 4.91%
- 5Y*
- 3.52%
- 10Y*
- 2.65%
VUSB vs. ULST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VUSB Vanguard Ultra-Short Bond ETF | 1.33% | 5.20% | 5.68% | 5.52% | -0.36% | 0.00% |
ULST State Street Ultra Short Term Bond ETF | 1.25% | 4.80% | 5.23% | 5.60% | 0.87% | 0.03% |
Correlation
The correlation between VUSB and ULST is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021 | 0.44 |
The correlation between VUSB and ULST has been stable across timeframes, ranging from 0.44 to 0.54 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VUSB vs. ULST — Risk / Return Rank
VUSB
ULST
VUSB vs. ULST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short Bond ETF (VUSB) and State Street Ultra Short Term Bond ETF (ULST). 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.
| VUSB | ULST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 3.36 | 2.76 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 12.23 | 16.75 | -4.52 |
| Martin ratioReturn relative to average drawdown | 70.50 | 87.10 | -16.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VUSB | ULST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.95 | 6.08 | +0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.12 | 3.67 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.06 | 1.50 | +2.57 |
Drawdowns
VUSB vs. ULST - Drawdown Comparison
The maximum VUSB drawdown since its inception was -1.79%, smaller than the maximum ULST drawdown of -6.20%. Use the drawdown chart below to compare losses from any high point for VUSB and ULST.
Loading charts...
Drawdown Indicators
| VUSB | ULST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.79% | -6.20% | +4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.37% | -0.24% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -0.46% | -0.54% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -1.79% | -1.22% | -0.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.20% | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.05% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.16% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 0.05% | +0.01% |
Volatility
VUSB vs. ULST - Volatility Comparison
Vanguard Ultra-Short Bond ETF (VUSB) has a higher volatility of 0.18% compared to State Street Ultra Short Term Bond ETF (ULST) at 0.17%. This indicates that VUSB's price experiences larger fluctuations and is considered to be riskier than ULST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VUSB | ULST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.17% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | 0.43% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.65% | 0.65% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 0.96% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.82% | 1.44% | -0.62% |
VUSB vs. ULST - Expense Ratio Comparison
VUSB has a 0.10% expense ratio, which is lower than ULST's 0.20% 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
VUSB vs. ULST - Dividend Comparison
VUSB's dividend yield for the trailing twelve months is around 4.39%, more than ULST's 4.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 4.29% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
VUSB Vanguard Ultra-Short Bond ETF | 4.39% | 4.63% | 5.16% | 4.45% | 1.56% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VUSB and ULST have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VUSB has higher volatility (0.18%) compared to ULST (0.17%). In terms of maximum drawdown, VUSB dropped -1.79% vs ULST's -6.20%.
On 5-year performance, ULST leads with 3.52% vs 3.42% for VUSB. On fees, VUSB is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ULST has performed better with a 3.52% return vs 3.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VUSB is cheaper with a 0.10% expense ratio, compared with 0.20% for ULST.
VUSB has the higher dividend yield at 4.39%, compared with 4.29% for ULST.
They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.10% for VUSB and 0.20% for ULST.
VUSB currently has the higher Sharpe Ratio (6.95 vs 6.08), 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.
Find the right allocation for VUSB and ULST
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer