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MMKT vs VUSB

Texas Capital Government Money Market ETF

MMKTCNYSE

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.10pt a year

MMKT0.20%VUSB0.10%

Avg volume · 30D

VUSB 375.2×the volume

MMKT5.25KVUSB1.97M

MMKT vs VUSB Performance

Oct 31, 2025 – Oct 30, 2026

+3.5%MMKT+3.7%VUSB

Oct 31, 2025 to Oct 30, 2026. MMKT +3.5%. VUSB +3.7%. Use the arrow keys to read each point.0%1%2%Oct 2025Apr 2026Oct 2026
Expense ratio
MMKT 0.20%
VUSB 0.10%, better
Fund size
MMKT $68M
VUSB $9.9B
1Y total return
MMKT +3.5%
VUSB +3.7%, better
Yield (12M)
MMKT 3.63%
VUSB 4.27%, better
Holdings
MMKT 30
VUSB 1348
Avg volume (30D)
MMKT 5.25K sh
VUSB 1.97M sh, better
NAV per share
MMKT $100.22
VUSB $49.62
52W range

ETF.net Grade

MMKT: Cost 38, Risk 39, Mission 100, Tradability 36, Holdings 35, Durability 36. VUSB: Cost 84, Risk 53, Mission 100, Tradability 66, Holdings 90, Durability 89.
Pillar letters and Scores for MMKT, VUSB, with each pillar’s weight
PillarMMKTVUSB
Cost30% weightD38A84Higher
Mission25% weightA100A100
Risk15% weightD39C53Higher
Tradability15% weightD36B66Higher
Holdings10% weightD35A90Higher
Durability5% weightD36A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MMKT 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 MMKT 60th of 78 funds in the Cash & Ultra-Short Income Category.

  1. Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
  2. Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
  3. Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
  4. Rank 4ATBLLInvesco Short Term Treasury ETFScore 80
  5. Rank 59BTLDRThe Laddered T-Bill ETFScore 53
  6. Rank 60CMMKTTexas Capital Government Money Market ETFScore 52
  7. Rank 61CVUSIVoya Ultra Short Income ETFScore 50

Our read on each fund

ETF.net Research

MMKTCTexas Capital Government Money Market ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

MMKT Money markets went unchallenged by ETFs for three decades. MMKT was the first fund to run a government money market portfolio under Rule 2a-7 inside an ETF wrapper, with one twist: no fixed $1 share price.

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

MMKT The Fund seeks current interest income while maintaining liquidity and stability of principal. It invests primarily in high-quality U.S. government money market instruments and related repurchase agreements.

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

  • MMKT The first ETF built to Rule 2a-7, the SEC rulebook behind government money market funds: at least 99.5% in cash, U.S. government paper and fully collateralized repos.globenewswire.cometf.comsec.gov
  • Cash-style exposure that lives in the brokerage account and trades intraday on the NYSE, rather than in a separate money fund with an end-of-day cutoff.globenewswire.comsec.gov
  • Pays income monthly, and the holdings match the mandate on paper: high-quality U.S. government money market instruments and related repurchase agreements, nothing exotic.
  • 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

  • MMKT No fixed $1 share price. NAV follows the market value of the holdings, and shares can trade a touch above or below it. Not a bank deposit, not FDIC insured.etf.comsec.gov
  • The 0.20% fee sits right at the category median, while SBIL and IQMM charge 0.15% and ICSH charges 0.08%.
  • Launched in 2024 and thinly traded, so spreads can run wider than at the cash-alternative giants, and the track record is still short.
  • 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 MMKT profile⁠

Full VUSB profile⁠

MMKT vs 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.

MMKT vs VUSB Cost

Overpaying MMKT vs VUSB

$2,049

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

  • MMKT 0.20%

    $4,155

  • VUSB 0.10%

    $2,106

$10,000
30 years

Cost over time

  • MMKT 0.20%
  • VUSB 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530MMKT $4,155VUSB $2,106

Year by year

YearMMKTVUSBOverpaying
10$365$183$182
20$1,421$717$704
30$4,155$2,106$2,049

Expense ratio

  • 0.20%MMKT
  • 0.10%VUSB, cheaper
  • Middle half of Cash & Ultra-Short Income funds
  • Median 0.18%

VUSB 13th cheapest of 78 funds

MMKT 45th cheapest of 78 funds

MMKT vs VUSB Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MMKT 3.63%
VUSB 4.27%, better
Payout (12M)
MMKT $3.64
VUSB $2.12
Last payment
MMKT $0.07
VUSB $0.18
Ex-dividend
MMKT Oct 30, 2026
VUSB Oct 1, 2026
Paid on
MMKT Pays Nov 2, 2026
VUSB Oct 5, 2026
Frequency
MMKT Weekly
VUSB Monthly

Distribution history

Per share, 2026, same scale for both

MMKTWeekly · 44 paymentsAll MMKT payments⁠
One bar per payment. 44 payments in 2026 YTD. Jan 2, 2026 $0.03; Jan 9, 2026 $0.03; Jan 16, 2026 $0.07; Jan 23, 2026 $0.09; Jan 30, 2026 $0.07; Feb 6, 2026 $0.07; Feb 13, 2026 $0.07; Feb 20, 2026 $0.07; Feb 27, 2026 $0.04; Mar 6, 2026 $0.07; Mar 13, 2026 $0.08; Mar 20, 2026 $0.07; Mar 27, 2026 $0.08; Apr 2, 2026 $0.06; Apr 10, 2026 $0.08; Apr 17, 2026 $0.07; Apr 24, 2026 $0.07; May 1, 2026 $0.06; May 8, 2026 $0.06; May 15, 2026 $0.07; May 22, 2026 $0.07; May 29, 2026 $0.07; Jun 5, 2026 $0.07; Jun 12, 2026 $0.07; Jun 18, 2026 $0.07; Jun 26, 2026 $0.07; Jul 2, 2026 $0.07; Jul 10, 2026 $0.07; Jul 17, 2026 $0.07; Jul 24, 2026 $0.07; Jul 31, 2026 $0.07; Aug 7, 2026 $0.07; Aug 14, 2026 $0.07; Aug 21, 2026 $0.07; Aug 28, 2026 $0.07; Sep 4, 2026 $0.07; Sep 11, 2026 $0.07; Sep 18, 2026 $0.07; Sep 25, 2026 $0.08; Oct 2, 2026 $0.07; Oct 9, 2026 $0.07; Oct 16, 2026 $0.07; Oct 23, 2026 $0.07; Oct 30, 2026 $0.07. Use the arrow keys to read each point.$0$0.202026YTD
VUSBMonthly · 9 paymentsAll VUSB payments⁠
One bar per payment. 9 payments in 2026 YTD. Feb 2, 2026 $0.18; Mar 2, 2026 $0.17; Apr 1, 2026 $0.18; May 1, 2026 $0.18; Jun 1, 2026 $0.17; Jul 1, 2026 $0.18; Aug 3, 2026 $0.17; Sep 1, 2026 $0.17; Oct 1, 2026 $0.18. Use the arrow keys to read each point.$0$0.202026YTD

MMKT vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MMKT 0.1%since Oct 2024VUSB 0.8%
Return per unit of riskSharpe ratio, 3 years
MMKT −2.61since Oct 2024VUSB 0.86
Worst fallMax drawdown, 5 years
MMKT −0.04%since Sep 2024VUSB −1.7%
Market sensitivityBeta, 5 years
MMKT 0.0008VUSB 0.10

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