CLIP vs VUSB: Grades, Fees and Holdings Compared

Global X 1-3 Month T-Bill ETF

CLIPANYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

0.0%by weight

Expense ratio

CLIP −0.03pt a year

CLIP0.07%VUSB0.10%

Avg volume · 30D

VUSB 6.9×the volume

CLIP285KVUSB1.97M

3Y return · a year

VUSB +0.7pt

CLIP+4.5%VUSB+5.2%

CLIP vs VUSB Performance

Oct 31, 2025 – Oct 30, 2026

+3.8%CLIP+3.7%VUSB

Expense ratio: CLIP 0.07%, better; VUSB 0.10%
Fund size: CLIP $2.35B; VUSB $9.9B
1Y total return: CLIP +3.8%, better; VUSB +3.7%
Yield (12M): CLIP 3.72%; VUSB 4.27%, better
Holdings: CLIP 26; VUSB 1348
Avg volume (30D): CLIP 285K sh; VUSB 1.97M sh, better
NAV per share: CLIP $100.38; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for CLIP, VUSB, with each pillar’s weight
Pillar	CLIP	VUSB
Cost30% weight	A89Higher	A84
Mission25% weight	A100	A100
Risk15% weight	C47	C53Higher
Tradability15% weight	A80Higher	B66
Holdings10% weight	Not scored	A90
Durability5% weight	B68	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CLIP and VUSB are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

CLIP ranks 2nd and VUSB 3rd of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 4ATBLLInvesco Short Term Treasury ETFScore 80

Our read on each fund

ETF.net Research

CLIPAGlobal X 1-3 Month T-Bill ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

CLIP Treasury bills, one to three months out, at half the fee of the category's longtime giant. Global X launched CLIP in 2023 as the cheap challenger in the parking-lot corner of the bond market, and it has hugged its index tightly since.

VUSB Vanguard's first actively managed bond ETF, run by its in-house fixed income team and priced at 0.10%. It holds investment-grade paper maturing inside two years: a step past a money fund, well short of a real bond fund.

Stated mandate

CLIP CLIP seeks to track, before fees and expenses, the price and yield performance of the Solactive 1-3 month US T-Bill Index. It invests in U.S. government Treasury bills with remaining maturities from one month to under three months.

VUSB The fund seeks current income with limited price volatility while investing in diversified high- and medium-quality fixed-income securities. It expects to maintain a dollar-weighted average maturity of 0–2 years.

Why people hold it

CLIP 0.07% a year, half the 0.14% median for its bill-fund cohort and half what category veteran BIL charges for the same one-to-three-month exposure.
The mandate fits on one line: US Treasury bills maturing in one month to under three, roughly two dozen of them. Government paper only, no corporate credit slipped in.globalxetfs.com
Sticks to the Solactive 1-3 month US T-Bill Index about as tightly as anything in its peer group, which is the entire job description for a bill fund.
Distributes monthly, and it has already gathered billions in assets, so it is no thin-ice launch.

VUSB At 0.10%, it costs half the typical ultra-short bond ETF and undercuts the other leaders in the group: SHV, PULS, FLDR and DUSB all charge 0.15%.
Active, not adventurous. The managers buy investment-grade bonds (A3-or-better high quality plus BBB-tier medium quality) and hold average maturity to zero-to-two years.vanguard.com
Income lands monthly, sourced from roughly 170 bonds, so no single issuer drives the outcome.
A multi-billion-dollar fund that trades actively, and the same portfolio team also runs a similar Vanguard ultra-short fund.vanguard.com

Worth knowing

CLIP Income comes straight off short-term Treasury rates. Monthly payouts move up and down with those rates rather than sitting at a fixed level.
It opened in 2023, so the track record is short next to the bill funds it undercuts on fee.
Volume is respectable, not the deepest in the cohort, and a hair cheaper exists (Vanguard's VBIL at 0.06%). At these fee levels the gap is rounding error.

VUSB This is not a money market fund. No fixed $1 share price, and the market price can trade above or below the value of the holdings.vanguard.com
The mandate allows BBB-tier credit, a notch of risk a Treasury-only neighbor like SHV doesn't take.vanguard.com
Bonds this short reprice with short-term rates, so the monthly payout drifts up and down instead of holding a set level.vanguard.com

Full CLIP profile⁠

Full VUSB profile⁠

CLIP vs VUSB Holdings

As of Oct 13, 2026

How CLIP and VUSB differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CLIP and 0.0% of VUSB.

Level by level

Asset classCash, Fixed Income0.0%
Holdings0 in both0.0%
Countryby domicile76.9%

Sector

No Sector split for CLIP and VUSB.

Country, concentration and asset class

Country by domicile

Country weights in CLIP and VUSB, widest gap first
Country	More in CLIPMore in VUSB	CLIP	VUSB
United States	CLIP +23.1 points	100.0%	76.9%
Canada	VUSB +7.2 points	0.0%	7.2%
United Kingdom	VUSB +3.5 points	0.0%	3.5%
Cayman Islands	VUSB +2.5 points	0.0%	2.5%
Japan	VUSB +2.1 points	0.0%	2.1%
Germany	VUSB +1.7 points	0.0%	1.7%
Australia	VUSB +1.6 points	0.0%	1.6%
Switzerland	VUSB +1.0 points	0.0%	1.0%
Other countries (13)	VUSB +3.6 points	0.0%	3.6%

Concentration

Weight in the 10 largest Holdings

CLIP63.8%
VUSB11.2%

Securities held

CLIP26
VUSB1,342

Asset class

CLIP: Cash
VUSB: Fixed Income

Holdings

Only in CLIP26
In both0
Only in VUSB1,342

Only in CLIP

26 securities, 100% of CLIP by weight

B 11/19/26 (BVSVZ28)8.23%
B 11/27/26 (BVPJDQ5)7.53%
B 11/12/26 (BT9R101)7.40%
B 12/03/26 (BW61LR4)7.04%
B 11/05/26 (BNZJKH9)6.95%
B 12/17/26 (BWRXMP4)6.37%
B 11/03/26 (BQGF9D6)5.67%
B 12/01/26 (BRJJ0F1)5.11%
B 12/31/26 (BNVVYP5)5.09%
B 11/24/26 (C04JZH3)4.42%
B 11/17/26 (BRCDQ07)4.31%
B 12/24/26 (BSSBJ36)4.26%
B 11/10/26 (BXM1HG6)4.03%
B 12/08/26 (BX7WM14)4.01%
Other Payable & Receivables3.27%
B 10/20/26 (BWM2X64)3.04%
B 10/29/26 (BV3PBJ4)2.99%
B 10/22/26 (BW5RJY6)2.96%
B 10/27/26 (BVSRRW0)2.55%
B 01/07/27 (BTCLH46)2.54%
B 12/10/26 (BXM7C47)2.38%
B 10/15/26 (BTWQYX9)2.03%
B 01/05/27 (BQZCL87)1.06%
B 12/15/26 (BV88875)0.02%
B 12/22/26 (BVSPGV6)0.02%
B 12/29/26 (BV8CZK9)0.02%

Only in VUSB

1,342 securities, 96.2% of VUSB by weight

United States Treasury Bill 09/02/20272.24%
United States Treasury Bill 09/30/20272.20%
Regions Bank/Birmingham AL 4.75% 07/27/20290.83%
PNC Financial Services Group Inc/The 4.62% 10/26/20290.50%
National Bank of Canada 5.00% 09/08/20290.49%
Citizens Bank NA/Providence RI 4.87% 08/10/20290.45%
US Bancorp 5.78% 06/12/20290.44%
Charles Schwab Corp/The 4.60% 07/27/20290.42%
Canadian Imperial Bank of Commerce 4.72% 06/16/20290.39%
AbbVie Inc 4.50% 08/18/20280.39%
United States Treasury Note/Bond 3.50% 10/31/20270.39%
Truist Bank 4.42% 07/24/20280.38%
Province of British Columbia Canada 4.70% 01/24/20280.38%
Westlake Flooring Master Trust 4.23% 10/15/20290.38%
UBS Group AG 4.53% 04/10/20300.36%
OneMain Financial Issuance Trust 2026-2 4.98% 01/14/20380.35%
Bank of Montreal 4.63% 09/22/20280.35%
Hyundai Auto Lease Securitization Trust 2026-C 4.68% 07/16/20290.35%
Dllad 2024-1 Llc 5.30% 07/20/20290.34%
National Bank of Canada 4.17% 01/20/20290.33%
Goldman Sachs Group Inc/The 4.15% 01/21/20290.32%
Equitable Holdings Inc 4.35% 04/20/20280.32%
Truist Bank 4.14% 10/23/20290.32%
Wendy's Funding LLC 3.88% 03/15/20480.32%
Bank of America Corp 5.20% 04/25/20290.32%
PFS Financing Corp 5.34% 04/15/20290.31%
Rktl 2026-3 4.51% 08/27/20350.31%
Extra Space Storage LP 5.70% 04/01/20280.31%
NTT Finance Corp 4.57% 07/16/20270.30%
Truist Bank 4.14% 01/27/20290.30%
Intel Corp 4.88% 02/10/20280.30%
Mercedes-Benz Finance North America LLC 4.13% 03/10/20280.30%
Digital Realty Trust LP 4.45% 07/15/20280.30%
American Honda Finance Corp 4.40% 12/11/20260.29%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.00% 10/29/20280.29%
Navistar Financial Dealer Note Master Owner Trust II 2025-1 4.18% 09/25/20300.28%
Cheniere Corpus Christi Holdings LLC 5.13% 06/30/20270.27%
UBS Group AG 4.73% 12/23/20290.27%
M&T Bank Auto Receivables Trust 2026-1 4.33% 07/16/20290.27%
BAT Capital Corp 2.26% 03/25/20280.27%
Canadian Imperial Bank of Commerce 4.86% 01/13/20280.26%
M&T Bank Auto Receivables Trust 2026-1 4.66% 06/16/20310.26%
Deutsche Bank AG/New York NY 5.27% 09/18/20290.26%
Citizens Bank NA/Providence RI 4.19% 01/29/20290.26%
NatWest Group PLC 4.89% 05/18/20290.26%
Canadian Imperial Bank of Commerce 4.51% 01/29/20300.26%
Goldman Sachs Group Inc/The 3.81% 04/23/20290.26%
Digital Realty Trust LP 5.55% 01/15/20280.25%
Sprint Capital Corp 6.88% 11/15/20280.25%
Rktl 2026-2 4.33% 05/25/20350.25%

Weight gaps

CLIP and VUSB share no securities.

All 27 CLIP holdings⁠All VUSB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CLIP vs VUSB Cost

Overpaying VUSB vs CLIP

$626

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CLIP 0.07%
$1,480
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

CLIP 0.07%
VUSB 0.10%
Overpaying

Year by year

Year	CLIP	VUSB	Overpaying
10	$128	$183	$55
20	$503	$717	$214
30	$1,480	$2,106	$626

Expense ratio

0.07%CLIP, cheaper
0.10%VUSB

CLIP0.07%VUSB0.10%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

CLIP 8th cheapest of 78 funds

VUSB 13th cheapest of 78 funds

CLIP vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CLIP 3.72%; VUSB 4.27%, better
Payout (12M): CLIP $3.74; VUSB $2.12
Last payment: CLIP $0.31; VUSB $0.18
Ex-dividend: CLIP Oct 1, 2026; VUSB Oct 1, 2026
Paid on: CLIP Oct 6, 2026; VUSB Oct 5, 2026
Frequency: CLIP Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLIPMonthly · 40 paymentsAll CLIP payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

CLIP vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CLIP 0.2%, betterVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: CLIP −0.51VUSB 0.86, better
Worst fallMax drawdown, 5 years: CLIP −0.1%since Jun 2023VUSB −1.7%
Market sensitivityBeta, 5 years: CLIP 0.01VUSB 0.10; Market = 1

CLIP and VUSB in the news

All news⁠

Best ETFs
T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%
Updated Nov 2, 2026CLIP

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CLIP vs VUSB

In short

Stated mandate

Why people hold it

Worth knowing

How CLIP and VUSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in VUSB

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%

How CLIP and VUSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CLIP

Only in VUSB

Weight gaps