FLDB vs VUSB: Grades, Fees and Holdings Compared

Fidelity Low Duration Bond ETF

FLDBCNasdaq

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.10pt a year

FLDB0.20%VUSB0.10%

Avg volume · 30D

VUSB 128.9×the volume

FLDB15.8KVUSB2.04M

FLDB vs VUSB Performance

Nov 7, 2025 – Nov 9, 2026

+3.7%FLDB+3.7%VUSB

Expense ratio: FLDB 0.20%; VUSB 0.10%, better
Fund size: FLDB $448M; VUSB $9.9B
1Y total return: FLDB +3.7%; VUSB +3.7%
Yield (12M): FLDB 4.29%, better; VUSB 4.27%
Holdings: FLDB 413; VUSB 1352
Avg volume (30D): FLDB 15.8K sh; VUSB 2.04M sh, better
NAV per share: FLDB $50.22; VUSB $49.51
52W range

ETF.net Grade

Pillar letters and Scores for FLDB, VUSB, with each pillar’s weight
Pillar	FLDB	VUSB
Cost30% weight	D39	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C48	C52Higher
Tradability15% weight	F18	B67Higher
Holdings10% weight	B55	A86Higher
Durability5% weight	C52	A88Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. FLDB 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 FLDB 57th 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 51BTLDRThe Laddered T-Bill ETFScore 55
Rank 57CFLDBFidelity Low Duration Bond ETFScore 54
Rank 57CTUSITouchstone Ultra Short Income ETFScore 54

Our read on each fund

ETF.net Research

FLDBCFidelity Low Duration Bond ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

FLDB Fidelity's 2024-vintage cash-adjacent bond fund: roughly 300 short-maturity holdings measured against 6-to-9-month T-bills, with income paid monthly. A diversified credit mix where many category rivals hold Treasuries and little else.

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

FLDB FLDB uses a diversified, low-duration bond strategy to pursue substantial current income while seeking to preserve capital.

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

FLDB Spreads risk across roughly 300 short-maturity bonds rather than one Treasury sleeve, with the Bloomberg U.S. Treasury Bill: 6-9 Months Index as its yardstick.fidelity.com
Pays monthly, matching a mandate written around substantial current income while seeking to preserve capital.fidelity.com
Stays inside its stated low-duration remit instead of stretching maturities for extra yield, and has pulled in hundreds of millions since its 2024 debut.

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

FLDB The 0.20% fee sits at the category median, and cheaper shelf-mates undercut it: VUSB at 0.10%, SHV, PULS and Fidelity's own FLDR at 0.15%.
Thinly traded next to the ultrashort category's household names, which can mean wider bid-ask spreads on the way in and out.
Launched February 2024, so its record is short and has not yet spanned a full rate cycle.

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 FLDB profile⁠

Full VUSB profile⁠

FLDB vs VUSB Holdings

How FLDB and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Sector3 Sectors81.5%
Countryby domicile92.2%
Asset classBonds100%

Sector

Sector weights in FLDB and VUSB, widest gap first
Sector	Gap	FLDB	VUSB
Government	FLDB +18.5 points	26.3%	7.8%
Corporate	VUSB +12.0 points	50.2%	62.2%
Securitized	VUSB +6.5 points	23.5%	30.0%

Country, concentration and asset class

Country by domicile

Country weights in FLDB and VUSB, widest gap first
Country	Gap	FLDB	VUSB
United States	FLDB +2.7 points	79.6%	76.9%
Cayman Islands	FLDB +1.9 points	4.4%	2.5%
United Kingdom	FLDB +1.7 points	5.2%	3.5%
Germany	VUSB +1.7 points	0.0%	1.7%
Australia	VUSB +1.3 points	0.3%	1.6%
Canada	VUSB +1.3 points	5.9%	7.2%
Japan	VUSB +1.0 points	1.1%	2.1%
Spain	VUSB +0.7 points	0.0%	0.7%
Other countries (14)	VUSB +0.4 points	3.4%	3.8%

Concentration

Weight in the 10 largest Holdings

FLDB32.8%
VUSB12.6%

Securities held

FLDB410
VUSB1,346

Asset class

FLDB: Bonds
VUSB: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. FLDB holds 410 securities, VUSB 1,346.

All 335 FLDB 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.

FLDB vs VUSB Cost

Overpaying FLDB vs VUSB

$2,049

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

FLDB 0.20%
$4,155
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

FLDB 0.20%
VUSB 0.10%
Overpaying

Year by year

Year	FLDB	VUSB	Overpaying
10	$365	$183	$182
20	$1,421	$717	$704
30	$4,155	$2,106	$2,049

Expense ratio

0.20%FLDB
0.10%VUSB, cheaper

VUSB0.10%FLDB0.20%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

FLDB 44th cheapest of 78 funds

FLDB vs VUSB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FLDB 4.29%, better; VUSB 4.27%
Payout (12M): FLDB $2.16; VUSB $2.12
Last payment: FLDB $0.17; VUSB $0.18
Ex-dividend: FLDB Oct 29, 2026; VUSB Nov 2, 2026
Paid on: FLDB Nov 2, 2026; VUSB Nov 4, 2026
Frequency: FLDB Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FLDBMonthly · 34 paymentsAll FLDB payments⁠

VUSBMonthly · 46 paymentsAll VUSB payments⁠

FLDB vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FLDB 0.4%since Mar 2024VUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: FLDB 0.68since Mar 2024VUSB 0.86
Worst fallMax drawdown, 5 years: FLDB −0.4%since Feb 2024VUSB −1.7%
Market sensitivityBeta, 5 years: FLDB 0.01VUSB 0.10; Market = 1

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