GMOC vs VUSB: Grades, Fees and Holdings Compared

GMO Ultra-Short Income ETF

GMOCBNYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.10pt a year

GMOC0.20%VUSB0.10%

Avg volume · 30D

VUSB 322.2×the volume

GMOC6.12KVUSB1.97M

GMOC vs VUSB Performance

Oct 31, 2025 – Oct 30, 2026

+4.2%GMOC+3.7%VUSB

Expense ratio: GMOC 0.20%; VUSB 0.10%, better
Fund size: GMOC $30M; VUSB $9.9B
1Y total return: GMOC +4.2%, better; VUSB +3.7%
Yield (12M): GMOC No data; VUSB 4.27%
Holdings: GMOC 49; VUSB 1348
Avg volume (30D): GMOC 6.12K sh; VUSB 1.97M sh, better
NAV per share: GMOC $50.07; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for GMOC, VUSB, with each pillar’s weight
Pillar	GMOC	VUSB
Cost30% weight	D38	A84Higher
Mission25% weight	A100	A100
Risk15% weight	B66Higher	C53
Tradability15% weight	D33	B66Higher
Holdings10% weight	C40	A90Higher
Durability5% weight	D36	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. GMOC 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 GMOC 46th 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 46BGMMFiShares Government Money Market ETFScore 56
Rank 46BGMOCGMO Ultra-Short Income ETFScore 56
Rank 46BTUSBThrivent Ultra Short Bond ETFScore 56

Our read on each fund

ETF.net Research

GMOCBGMO Ultra-Short Income ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

GMOC GMO's answer to the cash-parking corner: an actively managed ultra-short fund that reaches into CLOs and repo alongside Treasuries, not just T-bills. Launched late 2025 at a 0.20% fee.

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

GMOC The Fund seeks current income while preserving capital. It is actively managed and invests primarily in low-duration, high-quality fixed-income securities, including CLOs, U.S. Treasuries, repurchase agreements, reverse repurchase agreements, and other investment-grade instruments.

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

GMOC Active by design, with a wide short-end toolkit: CLOs, Treasuries, repo and reverse repo, plus other investment-grade paper.
0.20% buys active management at the same price as the typical ultra-short bond ETF.
The mandate is blunt (current income, capital preservation, low duration) and what it owns lines up tightly with that promise.
Filings set income distributions on a monthly schedule.

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

GMOC Opened in October 2025 and trades lightly, so spreads can run wider than the category's long-established names.
CLOs and repo carry credit and structural risk a pure Treasury bill fund does not. That is the trade for reaching past T-bills.
Cheaper shelf-mates exist: VUSB charges 0.10%, and SHV, PULS and DUSB each charge 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 GMOC profile⁠

Full VUSB profile⁠

GMOC vs VUSB Holdings

How GMOC and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile40.1%
Asset classFixed Income100%

Sector

No Sector split for GMOC and VUSB.

Country, concentration and asset class

Country by domicile

Country weights in GMOC and VUSB, widest gap first
Country	More in GMOCMore in VUSB	GMOC	VUSB
Cayman Islands	GMOC +59.9 points	62.4%	2.5%
United States	VUSB +39.3 points	37.6%	76.9%
Canada	VUSB +7.2 points	0.0%	7.2%
United Kingdom	VUSB +3.5 points	0.0%	3.5%
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%

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

Concentration

Weight in the 10 largest Holdings

GMOC53.0%
VUSB11.2%

Securities held

GMOC30
VUSB1,342

Asset class

GMOC: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. GMOC holds 30 securities, VUSB 1,342.

All GMOC 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.

GMOC vs VUSB Cost

Overpaying GMOC vs VUSB

$2,049

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

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

Amount$10,000

Years30 years

Cost over time

GMOC 0.20%
VUSB 0.10%
Overpaying

Year by year

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

Expense ratio

0.20%GMOC
0.10%VUSB, cheaper

VUSB0.10%GMOC0.20%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

GMOC 45th cheapest of 78 funds

GMOC vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GMOC No data; VUSB 4.27%
Payout (12M): GMOC No data; VUSB $2.12
Last payment: GMOC $0.18; VUSB $0.18
Ex-dividend: GMOC Oct 30, 2026; VUSB Oct 1, 2026
Paid on: GMOC Pays Nov 2, 2026; VUSB Oct 5, 2026
Frequency: GMOC Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GMOCMonthly · 13 paymentsAll GMOC payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

GMOC vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GMOC 0.2%since Nov 2025VUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: GMOC 1.88since Nov 2025VUSB 0.86
Worst fallMax drawdown, 5 years: GMOC −0.1%since Oct 2025VUSB −1.7%
Market sensitivityBeta, 5 years: GMOC 0.02VUSB 0.10; Market = 1

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