FLUD vs VUSB: Grades, Fees and Holdings Compared

Franklin Ultra Short Bond ETF

FLUDANYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.05pt a year

FLUD0.15%VUSB0.10%

Avg volume · 30D

VUSB 9.1×the volume

FLUD217KVUSB1.97M

5Y return · a year

FLUD +0.3pt

FLUD+4.0%VUSB+3.7%

FLUD vs VUSB Performance

Oct 29, 2021 – Oct 30, 2026

+21.4%FLUD+20.0%VUSB

Expense ratio: FLUD 0.15%; VUSB 0.10%, better
Fund size: FLUD $642M; VUSB $9.9B
1Y total return: FLUD +4.0%, better; VUSB +3.7%
Yield (12M): FLUD 4.03%; VUSB 4.27%, better
Holdings: FLUD 472; VUSB 1348
Avg volume (30D): FLUD 217K sh; VUSB 1.97M sh, better
NAV per share: FLUD $24.99; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for FLUD, VUSB, with each pillar’s weight
Pillar	FLUD	VUSB
Cost30% weight	B66	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C52	C53Higher
Tradability15% weight	C47	B66Higher
Holdings10% weight	A83	A90Higher
Durability5% weight	B69	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. FLUD 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 FLUD 24th 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 20ATBILF/m US Treasury 3 Month Bill FundScore 72
Rank 24AFLUDFranklin Ultra Short Bond ETFScore 71
Rank 25BSCUSSchwab Ultra-Short Income ETFScore 68

Our read on each fund

ETF.net Research

FLUDAFranklin Ultra Short Bond ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

FLUD An actively run parking spot for cash. Franklin's ultra-short bond fund works the front end of the curve for income while emphasizing lower volatility, pays out monthly, and charges less than the typical fund in its cash-alternative group.

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

FLUD The fund seeks income and capital appreciation while emphasizing lower volatility.

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

FLUD 0.15% a year, under the going rate for cash-alternative ETFs. When returns are measured in basis points, the fee is the one input you actually control.
Actively managed, not index-bound. The manager picks across short-maturity bonds seeking income and capital appreciation while emphasizing lower volatility.
Distributions land monthly, which matches how a cash sleeve tends to get used.
Running since 2020 and one of the stronger implementations in its cash-alternative peer group, a rare combination with a below-median fee.

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

FLUD This is a bond fund, not a money market fund. The share price floats, so stress in short-dated credit shows up in NAV rather than being smoothed away.
Cheaper doors exist in the same aisle: ICSH charges less for ultra-short duration exposure. The fee edge here is over the median, not the whole field.
Moderately traded rather than a volume heavyweight, so spreads can run wider than at the category's largest names.

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 FLUD profile⁠

Full VUSB profile⁠

FLUD vs VUSB Holdings

How FLUD and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile81.1%
Asset classFixed Income100%

Sector

No Sector split for VUSB.

Country, concentration and asset class

Country by domicile

Country weights in FLUD and VUSB, widest gap first
Country	More in FLUDMore in VUSB	FLUD	VUSB
United States	VUSB +13.3 points	63.6%	76.9%
France	FLUD +4.6 points	5.2%	0.6%
Spain	FLUD +2.7 points	3.4%	0.7%
United Kingdom	FLUD +2.5 points	6.0%	3.5%
Cayman Islands	VUSB +2.5 points	0.0%	2.5%
Japan	FLUD +2.0 points	4.1%	2.1%
Netherlands	FLUD +1.8 points	2.2%	0.4%
Germany	VUSB +1.7 points	0.0%	1.7%
Other countries (14)	FLUD +4.0 points	15.6%	11.6%

Outside the US: FLUD 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

FLUD9.9%
VUSB11.2%

Securities held

FLUD409
VUSB1,342

Asset class

FLUD: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. FLUD holds 409 securities, VUSB 1,342.

All FLUD 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.

FLUD vs VUSB Cost

Overpaying FLUD vs VUSB

$1,031

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

FLUD 0.15%
$3,137
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

FLUD 0.15%
VUSB 0.10%
Overpaying

Year by year

Year	FLUD	VUSB	Overpaying
10	$274	$183	$91
20	$1,071	$717	$354
30	$3,137	$2,106	$1,031

Expense ratio

0.15%FLUD
0.10%VUSB, cheaper

VUSB0.10%FLUD0.15%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

FLUD 23rd cheapest of 78 funds

FLUD vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLUD 4.03%; VUSB 4.27%, better
Payout (12M): FLUD $1.01; VUSB $2.12
Last payment: FLUD $0.09; VUSB $0.18
Ex-dividend: FLUD Oct 1, 2026; VUSB Oct 1, 2026
Paid on: FLUD Oct 6, 2026; VUSB Oct 5, 2026
Frequency: FLUD Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FLUDMonthly · 46 paymentsAll FLUD payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

FLUD vs VUSB Risk

Fall from peak · 5 years

FLUD
VUSB

Risk facts

VolatilityStd dev, 3 years: FLUD 0.5%, betterVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: FLUD 1.18, betterVUSB 0.86
Worst fallMax drawdown, 5 years: FLUD −1.5%, betterVUSB −1.7%
Market sensitivityBeta, 5 years: FLUD 0.03VUSB 0.10; Market = 1

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