Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
VictoryShares Short-Term Bond ETF
$49.86−0.04 (−0.08%)
- 0.34%
- $2.7B
- +2.7%
- 4.58%
- 0.3M sh
- $49.80
- low $49.80high $51.10
The ETF.net USTB Grade
B
Score 67 out of 100
- 39 of 117
Score 67 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.C50 out of 100Rank 58 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.B67 out of 100Rank 92 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A93 out of 100Rank 1 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B66 out of 100Rank 25 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A79 out of 100Rank 14 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 20 of 117
Our read on USTB
BAn actively managed short-maturity credit fund from Victory Capital: roughly 800 bonds picked against a 1-3 year corporate credit benchmark, seeking high current income while preserving principal, paid out monthly.
The Fund seeks high current income while preserving principal.
Why people hold it
- Active by design: a team picks the bonds instead of copying an index, spreading roughly 800 positions and measuring itself against a 1-3 year corporate credit benchmark.vcm.com
- 0.34% a year, below the typical fee in its bond peer group. That is a low sticker price for active management.
- Short maturities blunt the price swings that hit long-dated bond funds, and this fund's risk profile is among the steadiest in its cohort.vcm.com
- Trading since 2017 and now a multi-billion-dollar fund that distributes monthly. It previously ran as the VictoryShares USAA Core Short-Term Bond ETF.dividend.com
Worth knowing
- The index heavyweights in this cohort (BND, SPAB, SCHZ at 0.03%) cost roughly a tenth as much. The extra here pays for credit selection, not index tracking.
- This is short-term corporate credit, not Treasuries. Results lean on the team's issuer calls and on credit conditions, with no index to fall back on.vcm.com
- Moderately traded rather than a volume giant, so limit orders are worth the extra click.
USTB Holdings
- Bonds
- 1,161
- 15%
- Us T-Note 4.25% 07/31/28
Geography
- United States85.67%
- Canada4.41%
- United Kingdom2.54%
- France1.44%
- Japan1.40%
- Ireland1.32%
- Bermuda0.87%
- Netherlands0.77%
- 1.59%
USTB 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.
USTB$10,268
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 | USTB |
|---|---|
| Year to date | +1.6% |
| 1 month | 0.0% |
| 3 months | +0.1% |
| 1 year | +2.7% |
| 3 years | +5.8% |
| 5 years | +3.5% |
| 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 | USTB |
|---|---|---|
| 2026 YTD | +1.6% | |
| 2025 | +6.1% | |
| 2024 | +6.5% | |
| 2023 | +6.7% | |
| 2022 | −2.8% | |
| 2021 | +0.9% | |
| 2020 | +4.6% |
USTB in the news
USTB Dividends
- 4.58%
- $2.29
- $0.21 per share
- Monthly
Distribution history
USTB Risk
- 1.9%
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.
- 0.54
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.
- −4.8%
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.
- 0.26
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
USTB Cost
0.34%
USTB0.34%
- The middle half of US Aggregate Bond funds
- Median 0.34%
55 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BGTOCInvesco Actively Managed Exchange-Traded Fund Trust - Invesco Core Fixed Income ETFExpense ratio 0.28%1 year return −2.0%
- BUITBVictoryShares Core Intermediate Bond ETFExpense ratio 0.38%1 year return −1.9%
- BJHCRJohn Hancock Exchange-Traded Fund Trust - John Hancock Core Bond ETFExpense ratio 0.29%1 year return −1.9%
- BLDSFFirst Trust Low Duration Strategic Focus ETFExpense ratio 0.10%1 year return +1.4%
- BAFIXAllspring Exchange-Traded Funds Trust - Allspring Broad Market Core Bond ETFExpense ratio 0.20%1 year return −1.9%