DLUX vs VUSB: Grades, Fees and Holdings Compared

DoubleLine Ultrashort Income ETF

DLUXBNYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.08pt a year

DLUX0.18%VUSB0.10%

Avg volume · 30D

VUSB 97.9×the volume

DLUX20.1KVUSB1.97M

DLUX vs VUSB Performance

Jul 31, 2026 – Oct 30, 2026

+0.5%DLUX+0.8%VUSB

Expense ratio: DLUX 0.18%; VUSB 0.10%, better
Fund size: DLUX $276M; VUSB $9.9B
1Y total return: DLUX No data; VUSB +3.7%
Yield (12M): DLUX No data; VUSB 4.27%
Holdings: DLUX 280; VUSB 1348
Avg volume (30D): DLUX 20.1K sh; VUSB 1.97M sh, better
NAV per share: DLUX $50.07; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for DLUX, VUSB, with each pillar’s weight
Pillar	DLUX	VUSB
Cost30% weight	C53	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C50	C53Higher
Tradability15% weight	D26	B66Higher
Holdings10% weight	B58	A90Higher
Durability5% weight	D26	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. DLUX 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 ›

VUSB ranks 3rd and DLUX 40th 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
Rank 40BCBILCorgi 3-12 Month T-Bill ETFScore 59
Rank 40BDLUXDoubleLine Ultrashort Income ETFScore 59
Rank 40BULSTState Street Ultra Short Term Bond ETFScore 59

Our read on each fund

ETF.net Research

DLUXBDoubleLine Ultrashort Income ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

DLUX DoubleLine's 2026 entry treats the cash corner of the bond market as an active job: government, securitized and corporate paper, interest-rate risk kept very low, measured against 3-month T-bills.

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

DLUX The Fund seeks current income and total return while preserving capital. It actively manages liquidity, interest-rate, and spread risks through diversified, high-quality government, securitized, and corporate bond exposure while keeping interest-rate risk very low.

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

DLUX Costs 0.18% a year, below the 0.20% median for ultrashort bond ETFs, and that buys active management rather than index tracking.
Works three levers at once: liquidity, interest-rate and spread risk, across diversified high-quality government, securitized and corporate bonds.doubleline.com
The yardstick is the ICE BofA 3-Month Treasury-Bill Index, so the fund is built to be judged against cash, not the broad bond market.doubleline.com

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

DLUX Income arrives quarterly, four times a year rather than monthly.
Launched in 2026 with a small asset base and light trading, which can mean wider bid-ask spreads than the category's giants.
Established rivals undercut it on fee: VUSB at 0.10%, SHV and PULS at 0.15%.

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 DLUX profile⁠

Full VUSB profile⁠

DLUX vs VUSB Holdings

How DLUX and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile83.0%
Asset classFixed Income100%

Sector

No Sector split for DLUX and VUSB.

Country, concentration and asset class

Country by domicile

Country weights in DLUX and VUSB, widest gap first
Country	More in DLUXMore in VUSB	DLUX	VUSB
United States	DLUX +11.7 points	88.6%	76.9%
Canada	VUSB +6.0 points	1.2%	7.2%
Cayman Islands	DLUX +5.2 points	7.7%	2.5%
United Kingdom	VUSB +3.4 points	0.1%	3.5%
Japan	VUSB +2.1 points	0.0%	2.1%
Germany	VUSB +1.7 points	0.0%	1.7%
Australia	VUSB +1.5 points	0.1%	1.6%
France	VUSB +0.6 points	0.0%	0.6%
Other countries (13)	VUSB +1.4 points	2.5%	3.9%

Concentration

Weight in the 10 largest Holdings

DLUX26.5%
VUSB11.2%

Securities held

DLUX278
VUSB1,342

Asset class

DLUX: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. DLUX holds 278 securities, VUSB 1,342.

All DLUX 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.

DLUX vs VUSB Cost

Overpaying DLUX vs VUSB

$1,643

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

DLUX 0.18%
$3,749
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

DLUX 0.18%
VUSB 0.10%
Overpaying

Year by year

Year	DLUX	VUSB	Overpaying
10	$328	$183	$145
20	$1,281	$717	$564
30	$3,749	$2,106	$1,643

Expense ratio

0.18%DLUX
0.10%VUSB, cheaper

VUSB0.10%DLUX0.18%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

DLUX 36th cheapest of 78 funds

DLUX vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DLUX No data; VUSB 4.27%
Payout (12M): DLUX No data; VUSB $2.12
Last payment: DLUX $0.19; VUSB $0.18
Ex-dividend: DLUX Oct 1, 2026; VUSB Oct 1, 2026
Paid on: DLUX Oct 7, 2026; VUSB Oct 5, 2026
Frequency: DLUX Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DLUXMonthly · 6 paymentsAll DLUX payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

DLUX vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DLUX No dataVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: DLUX No dataVUSB 0.86
Worst fallMax drawdown, 5 years: DLUX No dataVUSB −1.7%
Market sensitivityBeta, 5 years: DLUX 0.05VUSB 0.10; Market = 1

Popular comparisons

DLUXBvsICSHA
DoubleLine Ultrashort Income ETF · iShares Ultra Short Duration Bond Active ETF
Expense ratio
0.18% · 0.08%
Category
VUSBAvsICSHA
Vanguard Ultra-Short Bond ETF · iShares Ultra Short Duration Bond Active ETF
Expense ratio
0.10% · 0.08%
Category
DLUXBvsCLIPA
DoubleLine Ultrashort Income ETF · Global X 1-3 Month T-Bill ETF
Expense ratio
0.18% · 0.07%
Category
VUSBAvsCLIPA
Vanguard Ultra-Short Bond ETF · Global X 1-3 Month T-Bill ETF
Expense ratio
0.10% · 0.07%
Category
DLUXBvsTBLLA
DoubleLine Ultrashort Income ETF · Invesco Short Term Treasury ETF
Expense ratio
0.18% · 0.08%
Category
VUSBAvsTBLLA
Vanguard Ultra-Short Bond ETF · Invesco Short Term Treasury ETF
Expense ratio
0.10% · 0.08%
Category