ClearShares Ultra-Short Maturity ETF
$100.30−0.02 (−0.02%)
- Expense ratio
- 0.20%
- Fund size
- $115M
- 1Y return
- +3.9%
- Yield · Last 12 months
- 3.87%
- Holdings
- 7
- Volume · 30D
- 0M sh
- NAV per share
- $100.32
- 52W range
The ETF.net OPER Grade
Score 54 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 41Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 56Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 25Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 29Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 37Category rank
Our read on OPER
CMost 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
- 7
- 100%
- OPER092126
OPER Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +2.7% |
| 1 month | +0.4% |
| 3 months | +1.0% |
| 1 year | +3.9% |
| 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 | +2.7% | |
| 2025 | +4.4% | |
| 2024 | +5.3% | |
| 2023 | +5.1% | |
| 2022 | +1.8% | |
| 2021 | +0.4% | |
| 2020 | +0.7% |
OPER in the news
ETF.net Research hasn’t filed on OPER yet — coverage lands here as it’s written.
OPER Dividends
- 3.87%
- $3.88
- $0.28 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 28, 2026 | Aug 31, 2026 | $0.28 |
| Jul 30, 2026 | Jul 31, 2026 | $0.35 |
| Jun 29, 2026 | Jun 30, 2026 | $0.25 |
| May 28, 2026 | May 29, 2026 | $0.32 |
| Apr 29, 2026 | Apr 30, 2026 | $0.33 |
| Mar 30, 2026 | Mar 31, 2026 | $0.30 |
| Feb 26, 2026 | Feb 27, 2026 | $0.27 |
| Jan 29, 2026 | Jan 30, 2026 | $0.28 |
| Dec 30, 2025 | Dec 31, 2025 | $0.32 |
| Nov 26, 2025 | Nov 28, 2025 | $0.35 |
| Oct 30, 2025 | Oct 31, 2025 | $0.38 |
| Sep 29, 2025 | Sep 30, 2025 | $0.45 |
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.
- −0.03
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
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
40 of the 77 Cash & Ultra-Short Income funds charge less.