RMME vs VUSB: Grades, Fees and Holdings Compared

Rareview Government Money Market ETF

RMMEDCboe

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.20pt a year

RMME0.30%VUSB0.10%

Avg volume · 30D

VUSB 1013.5×the volume

RMME1.98KVUSB2.01M

RMME vs VUSB Performance

Dec 31, 2025 – Nov 4, 2026

+2.9%RMME+2.9%VUSB

Expense ratio: RMME 0.30%; VUSB 0.10%, better
Fund size: RMME $40M; VUSB $9.9B
1Y total return: RMME No data; VUSB +3.7%
Yield (12M): RMME No data; VUSB 4.28%
Holdings: RMME 7; VUSB 1352
Avg volume (30D): RMME 1.98K sh; VUSB 2.01M sh, better
NAV per share: RMME $100.12; VUSB $49.45
52W range

ETF.net Grade

Pillar letters and Scores for RMME, VUSB, with each pillar’s weight
Pillar	RMME	VUSB
Cost30% weight	F10	A84Higher
Mission25% weight	A72	A100Higher
Risk15% weight	D35	C53Higher
Tradability15% weight	D39	B67Higher
Holdings10% weight	D27	A86Higher
Durability5% weight	D31	A88Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. RMME 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 RMME 72nd 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 82
Rank 3AVBILVanguard 0-3 Month Treasury Bill ETFScore 81
Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 5ASGOViShares 0-3 Month Treasury Bond ETFScore 80
Rank 69DSLWSSLW Short Duration Income ETFScore 37
Rank 72DRMMERareview Government Money Market ETFScore 36
Rank 73DSGVAF/m Accumulator Ultrashort Treasury FundScore 35

Our read on each fund

ETF.net Research

RMMEDRareview Government Money Market ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

RMME Most cash-parking ETFs only act money-market-ish. RMME actually is one: a Rule 2a-7 government money market fund in an ETF wrapper, priced at 0.30% net of a waiver through January 31, 2027, with a floating share price instead of the traditional fixed $1.00.

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

RMME Its objective is to generate current income while preserving capital and maintaining liquidity.

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

RMME A genuine Rule 2a-7 government money market fund in an ETF: at least 99.5% of assets sit in cash, US government securities, or fully collateralized repo.sec.gov rareviewcapital.com
Money market mandate, ETF plumbing: intraday trading on an exchange at market price, published holdings, and monthly distributions.rareviewcapital.com
Actively managed with an initial focus on overnight repurchase agreements, which the prospectus notes often yield more than owning the government paper directly.sec.gov

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

RMME Costs 0.30% net of a waiver through January 31, 2027 (0.50% gross), above the category median; bill funds like VBIL at 0.06% and CLIP at 0.07% carry no waiver.
No stable $1.00 share price here. NAV moves with the market value of the holdings, and shares trade at market price, which can sit above or below NAV.rareviewcapital.com sec.gov
Small and thinly traded since its 2025 launch, so bid/ask spreads are part of the cost of getting in and out.

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 RMME profile⁠

Full VUSB profile⁠

RMME vs VUSB Holdings

How RMME and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile76.9%
Asset classFixed Income100%

Sector

No Sector split for VUSB.

Country, concentration and asset class

Country by domicile

Country weights in RMME and VUSB, widest gap first
Country	Gap	RMME	VUSB
United States	RMME +23.1 points	100.0%	76.9%
Canada	VUSB +7.2 points	0.0%	7.2%
United Kingdom	VUSB +3.5 points	0.0%	3.5%
Cayman Islands	VUSB +2.5 points	0.0%	2.5%
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%

Concentration

Weight in the 10 largest Holdings

RMME100.0%
VUSB12.6%

Securities held

RMME1
VUSB1,346

Asset class

RMME: Fixed Income
VUSB: Fixed Income

Holdings

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

All 7 RMME 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.

RMME vs VUSB Cost

Overpaying RMME vs VUSB

$4,043

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

RMME 0.30%
$6,149
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

RMME 0.30%
VUSB 0.10%
Overpaying

Year by year

Year	RMME	VUSB	Overpaying
10	$545	$183	$362
20	$2,113	$717	$1,396
30	$6,149	$2,106	$4,043

Expense ratio

0.30%RMME
0.10%VUSB, cheaper

VUSB0.10%RMME0.30%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

RMME 69th cheapest of 78 funds

RMME vs VUSB Dividends

Last 12 months to Nov 4, 2026

Yield (12M): RMME No data; VUSB 4.28%
Payout (12M): RMME No data; VUSB $2.12
Last payment: RMME $0.29; VUSB $0.18
Ex-dividend: RMME Nov 3, 2026; VUSB Nov 2, 2026
Paid on: RMME Nov 4, 2026; VUSB Nov 4, 2026
Frequency: RMME Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

RMMEMonthly · 11 paymentsAll RMME payments⁠

VUSBMonthly · 46 paymentsAll VUSB payments⁠

RMME vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RMME No dataVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: RMME No dataVUSB 0.86
Worst fallMax drawdown, 5 years: RMME No dataVUSB −1.7%
Market sensitivityBeta, 5 years: RMME −0.002VUSB 0.10; Market = 1

Popular comparisons

RMMEDvsICSHA
Rareview Government Money Market ETF · iShares Ultra Short Duration Bond Active ETF
Expense ratio
0.30% · 0.08%
Category
VUSBAvsSGOVA
Vanguard Ultra-Short Bond ETF · iShares 0-3 Month Treasury Bond ETF
Expense ratio
0.10% · 0.09%
Category
RMMEDvsCLIPA
Rareview Government Money Market ETF · Global X 1-3 Month T-Bill ETF
Expense ratio
0.30% · 0.07%
Category
VUSBAvsJPSTA
Vanguard Ultra-Short Bond ETF · JPMorgan Ultra-Short Income ETF
Expense ratio
0.10% · 0.18%
Category
RMMEDvsVBILA
Rareview Government Money Market ETF · Vanguard 0-3 Month Treasury Bill ETF
Expense ratio
0.30% · 0.06%
Category
VUSBAvsICSHA
Vanguard Ultra-Short Bond ETF · iShares Ultra Short Duration Bond Active ETF
Expense ratio
0.10% · 0.08%
Category