ClearShares Ultra-Short Maturity ETF
$100.140.00 (0.00%)
- 0.20%
- $118M
- +3.8%
- 3.78%
- 0M sh
- $100.18
- low $99.88high $100.44
The ETF.net OPER Grade
B
Score 56 out of 100
- 50 of 78
Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C42 out of 100Rank 39 of 78Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 66Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B57 out of 100Rank 17 of 75Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D37 out of 100Rank 53 of 78Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D31 out of 100Rank 71 of 77Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D38 out of 100Rank 57 of 78
Our read on OPER
BMost cash-parking ETFs buy T-bills. OPER goes upstream into the overnight repo market, lending against U.S. government collateral, the same plumbing money funds run on. Actively managed, pays monthly, trading since 2018.
The Fund seeks current income. It is actively managed and primarily invests in repurchase agreements collateralized by U.S. government securities, with lesser investments in individual fixed-income instruments.
Why people hold it
- Built around repurchase agreements collateralized by U.S. government securities, so the income comes from short-term funding markets rather than from reaching down the credit ladder.
- Narrow mandate, faithfully executed: what the prospectus describes is what the portfolio holds, one of the tightest mandate-to-portfolio matches in the cash-alternative group.
- Distributions land monthly, which fits how a cash sleeve actually gets used. Live since 2018, so it has operated through both near-zero and high short-term rate environments.
Worth knowing
- The 0.20% expense ratio sits mid-aisle. ICSH charges 0.08% and JPST 0.18%, so the repo-first approach costs a little more than the cheapest cash parkers.
- It trades lightly next to the category's household names, so the spread at the moment of the trade matters more here than with the most heavily traded peers.
- Small asset base compared with the multi-billion-dollar funds in this corner, and it is an active ETF, not a money market fund, so the share price floats.
OPER Holdings
- Bonds
- 6
- 100%
- OPER101526
OPER Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
OPER$10,377
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | OPER |
|---|---|
| Year to date | +2.9% |
| 1 month | +0.3% |
| 3 months | +0.9% |
| 1 year | +3.8% |
| 3 years | +4.6% |
| 5 years | +3.9% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | OPER |
|---|---|---|
| 2026 YTD | +2.9% | |
| 2025 | +4.4% | |
| 2024 | +5.3% | |
| 2023 | +5.1% | |
| 2022 | +1.8% | |
| 2021 | +0.4% | |
| 2020 | +0.7% |
OPER in the news
OPER Dividends
- 3.78%
- $3.78
- $0.35 per share
- Monthly
Distribution history
OPER Risk
- 0.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.23
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −0.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.00003
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
OPER Cost
0.20%
OPER0.20%
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
41 of the 78 Cash & Ultra-Short Income funds charge less.
Other funds in Cash & Ultra-Short Income
- BVRIGInvesco Variable Rate Investment Grade ETFExpense ratio 0.30%1 year return +4.4%
- BCVSBCalvert Ultra-Short Investment Grade ETFExpense ratio 0.24%1 year return +3.7%
- BYEARAlliance Bernstein - AB Ultra Short Income ETFExpense ratio 0.25%1 year return +2.9%
- BFLDBFidelity Low Duration Bond ETFExpense ratio 0.20%1 year return +3.6%
- BMMKTTexas Capital Government Money Market ETFExpense ratio 0.20%1 year return +3.5%