TUSB vs VUSB: Grades, Fees and Holdings Compared

Thrivent Ultra Short Bond ETF

TUSBBNYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.10pt a year

TUSB0.20%VUSB0.10%

Avg volume · 30D

VUSB 73.6×the volume

TUSB26.8KVUSB1.97M

TUSB vs VUSB Performance

Oct 31, 2025 – Oct 30, 2026

+4.4%TUSB+3.7%VUSB

Expense ratio: TUSB 0.20%; VUSB 0.10%, better
Fund size: TUSB $205M; VUSB $9.9B
1Y total return: TUSB +4.4%, better; VUSB +3.7%
Yield (12M): TUSB 4.20%; VUSB 4.27%, better
Holdings: TUSB 468; VUSB 1348
Avg volume (30D): TUSB 26.8K sh; VUSB 1.97M sh, better
NAV per share: TUSB $50.45; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for TUSB, VUSB, with each pillar’s weight
Pillar	TUSB	VUSB
Cost30% weight	D38	A84Higher
Mission25% weight	A100	A100
Risk15% weight	B61Higher	C53
Tradability15% weight	F20	B66Higher
Holdings10% weight	B64	A90Higher
Durability5% weight	D28	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. TUSB 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 TUSB 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 46BGMOCGMO Ultra-Short Income ETFScore 56
Rank 46BTUSBThrivent Ultra Short Bond ETFScore 56
Rank 46BVRIGInvesco Variable Rate Investment Grade ETFScore 56

Our read on each fund

ETF.net Research

TUSBBThrivent Ultra Short Bond ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

TUSB An actively managed ultra-short bond fund in a category dominated by index-tracking T-bill parking spots. Thrivent's bond desk picks the investment-grade paper itself, charges the category's typical price, and sends the income out monthly.

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

TUSB The Fund seeks substantial current income while preserving 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

TUSB Active by design: managers select the investment-grade bonds and keep dollar-weighted average maturity at two years or less, instead of tracking an index.investing.com
0.20% a year, level with the typical ultra-short bond ETF, for active credit selection rather than an index feed.
Cash flow lands monthly, and the stated job is plain: substantial current income while preserving capital.
What it holds lines up closely with what its prospectus says it does, and it stands in the upper half of the ultra-short bond group.

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

TUSB Thinly traded next to the category's giants, so spreads can be wider and larger orders need more care.
Index-based rivals undercut it on fees: VUSB at 0.10%, SHV at 0.15%. The 0.20% here buys active management, not a lower sticker.
It owns corporate credit, not only Treasuries, so the share price moves with rates and credit spreads. This is not a money market fund with a fixed price.investing.com

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 TUSB profile⁠

Full VUSB profile⁠

TUSB vs VUSB Holdings

How TUSB 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 TUSB and VUSB.

Country, concentration and asset class

Country by domicile

Country weights in TUSB and VUSB, widest gap first
Country	More in TUSBMore in VUSB	TUSB	VUSB
United States	TUSB +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

TUSB22.9%
VUSB11.2%

Securities held

TUSB467
VUSB1,342

Asset class

TUSB: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. TUSB holds 467 securities, VUSB 1,342.

All 463 TUSB 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.

TUSB vs VUSB Cost

Overpaying TUSB vs VUSB

$2,049

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

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

Amount$10,000

Years30 years

Cost over time

TUSB 0.20%
VUSB 0.10%
Overpaying

Year by year

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

Expense ratio

0.20%TUSB
0.10%VUSB, cheaper

VUSB0.10%TUSB0.20%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

TUSB 45th cheapest of 78 funds

TUSB vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): TUSB 4.20%; VUSB 4.27%, better
Payout (12M): TUSB $2.12; VUSB $2.12
Last payment: TUSB $0.20; VUSB $0.18
Ex-dividend: TUSB Oct 29, 2026; VUSB Oct 1, 2026
Paid on: TUSB Oct 30, 2026; VUSB Oct 5, 2026
Frequency: TUSB Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

TUSBMonthly · 21 paymentsAll TUSB payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

TUSB vs VUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: TUSB 0.6%since Mar 2025VUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: TUSB 0.81since Mar 2025VUSB 0.86
Worst fallMax drawdown, 5 years: TUSB −0.5%since Feb 2025VUSB −1.7%
Market sensitivityBeta, 5 years: TUSB 0.03VUSB 0.10; Market = 1

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