EMNT vs VUSB: Grades, Fees and Holdings Compared

PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund

EMNTBNYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.14pt a year

EMNT0.24%VUSB0.10%

Avg volume · 30D

VUSB 126.5×the volume

EMNT16.1KVUSB2.04M

5Y return · a year

VUSB +0.1pt

EMNT+3.6%VUSB+3.7%

EMNT vs VUSB Performance

Nov 9, 2021 – Nov 9, 2026

+19.2%EMNT+20.1%VUSB

Expense ratio: EMNT 0.24%; VUSB 0.10%, better
Fund size: EMNT $260M; VUSB $9.9B
1Y total return: EMNT +3.9%, better; VUSB +3.7%
Yield (12M): EMNT 3.86%; VUSB 4.27%, better
Holdings: EMNT 253; VUSB 1352
Avg volume (30D): EMNT 16.1K sh; VUSB 2.04M sh, better
NAV per share: EMNT $98.56; VUSB $49.51
52W range

ETF.net Grade

Pillar letters and Scores for EMNT, VUSB, with each pillar’s weight
Pillar	EMNT	VUSB
Cost30% weight	F24	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C52	C52
Tradability15% weight	D28	B67Higher
Holdings10% weight	A81	A86Higher
Durability5% weight	B63	A88Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. EMNT 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 2nd and EMNT 51st of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 84
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 81
Rank 2AVBILVanguard 0-3 Month Treasury Bill ETFScore 81
Rank 2AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 5ATBLLInvesco Short Term Treasury ETFScore 80
Rank 51BCVSBCalvert Ultra-Short Investment Grade ETFScore 55
Rank 51BEMNTPIMCO Enhanced Short Maturity Active ESG Exchange-Traded FundScore 55
Rank 51BHBILHARBOR SHORT TERM TREASURY ETFScore 55

Our read on each fund

ETF.net Research

EMNTBPIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund

VUSBAVanguard Ultra-Short Bond ETF

In short

EMNT PIMCO's ultra-short cash-parking playbook, run through an ESG screen. An active manager picking a few hundred short-dated bonds, paying income monthly, for a fee above most of the category.

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

EMNT The Fund seeks maximum current income while preserving capital and maintaining daily liquidity, using PIMCO’s ESG investment strategy.

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

EMNT Actively managed, not index-following: the mandate is explicit about maximum current income while preserving capital and keeping daily liquidity.
ESG is written into the stated objective itself, so the screen is part of the fund's contract rather than a label on the brochure.
Pays monthly, and spreads the job across roughly 190 short-dated positions in a plain 1940 Act ETF wrapper.
Launched in 2019, it has a multi-year live record doing this one narrow job rather than a freshly minted backtest.

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

EMNT 0.36% a year is a real bite in a category built on pennies. VUSB (0.10%) and SHV (0.15%) do similar cash-parking work, without the ESG screen.
Thinly traded next to the category's giants, so bid/ask spreads can be wider and bigger orders need more attention at the point of execution.
Ultra-short bonds are not a savings account: the fund seeks to preserve capital, but credit and rate moves still shift the price, and the monthly payout floats.

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 EMNT profile⁠

Full VUSB profile⁠

EMNT vs VUSB Holdings

How EMNT and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Sector3 Sectors91.0%
Countryby domicile92.4%
Asset classBonds100%

Sector

Sector weights in EMNT and VUSB, widest gap first
Sector	Gap	EMNT	VUSB
Securitized	EMNT +9.0 points	39.0%	30.0%
Government	VUSB +7.8 points	0.0%	7.8%
Corporate	VUSB +1.2 points	61.0%	62.2%

Country, concentration and asset class

Country by domicile

Country weights in EMNT and VUSB, widest gap first
Country	Gap	EMNT	VUSB
Japan	EMNT +2.3 points	4.4%	2.1%
Netherlands	EMNT +2.3 points	2.7%	0.4%
Germany	VUSB +1.7 points	0.0%	1.7%
Cayman Islands	VUSB +1.8 points	0.7%	2.5%
Australia	VUSB +1.6 points	0.0%	1.6%
Denmark	EMNT +0.9 points	1.2%	0.3%
United States	EMNT +0.9 points	77.8%	76.9%
Ireland	VUSB +0.8 points	0.0%	0.8%
Other countries (14)	VUSB +0.6 points	13.1%	13.7%

Concentration

Weight in the 10 largest Holdings

EMNT13.7%
VUSB12.6%

Securities held

EMNT245
VUSB1,346

Asset class

EMNT: Bonds
VUSB: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. EMNT holds 245 securities, VUSB 1,346.

All 191 EMNT holdings⁠All 1,347 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.

EMNT vs VUSB Cost

Overpaying EMNT vs VUSB

$2,853

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

EMNT 0.24%
$4,959
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

EMNT 0.24%
VUSB 0.10%
Overpaying

Year by year

Year	EMNT	VUSB	Overpaying
10	$437	$183	$254
20	$1,699	$717	$982
30	$4,959	$2,106	$2,853

Expense ratio

0.24%EMNT
0.10%VUSB, cheaper

VUSB0.10%EMNT0.24%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

EMNT 60th cheapest of 78 funds

EMNT vs VUSB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): EMNT 3.86%; VUSB 4.27%, better
Payout (12M): EMNT $3.81; VUSB $2.12
Last payment: EMNT $0.35; VUSB $0.18
Ex-dividend: EMNT Nov 2, 2026; VUSB Nov 2, 2026
Paid on: EMNT Nov 4, 2026; VUSB Nov 4, 2026
Frequency: EMNT Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

EMNTMonthly · 46 paymentsAll EMNT payments⁠

VUSBMonthly · 46 paymentsAll VUSB payments⁠

EMNT vs VUSB Risk

Fall from peak · 5 years

EMNT
VUSB

Risk facts

VolatilityStd dev, 3 years: EMNT 0.5%, betterVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: EMNT 1.01, betterVUSB 0.86
Worst fallMax drawdown, 5 years: EMNT −1.7%VUSB −1.7%
Market sensitivityBeta, 5 years: EMNT 0.02VUSB 0.10; Market = 1

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