VUSB vs XCSH: Grades, Fees and Holdings Compared

Vanguard Ultra-Short Bond ETF

VUSBACboe

XFUNDS 1-3 Month BOX ETF

XCSH—Nasdaq

Overlap

0.0%by weight

Expense ratio

VUSB −0.08pt a year

VUSB0.10%XCSH0.18%

Avg volume · 30D

VUSB 625.3×the volume

VUSB1.97MXCSH3.15K

VUSB vs XCSH Performance

Sep 30, 2026 – Oct 30, 2026

+0.5%VUSB+0.4%XCSH

Expense ratio: VUSB 0.10%, better; XCSH 0.18%
Fund size: VUSB $9.9B; XCSH $12M
1Y total return: VUSB +3.7%; XCSH No data
Yield (12M): VUSB 4.27%; XCSH No data
Holdings: VUSB 1348; XCSH 4
Avg volume (30D): VUSB 1.97M sh, better; XCSH 3.15K sh
NAV per share: VUSB $49.62; XCSH $100.73
52W range

ETF.net Grade

—XCSHNot yet graded

Pillar letters and Scores for VUSB, XCSH, with each pillar’s weight
Pillar	VUSB	XCSH
Cost30% weight	A84	Not scored
Mission25% weight	A100	Not scored
Risk15% weight	C53	Not scored
Tradability15% weight	B66	Not scored
Holdings10% weight	A90	Not scored
Durability5% weight	A89	Not scored

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

VUSB ranks 3rd 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
XCSHNot yet graded

Our read on each fund

ETF.net Research

VUSBAVanguard Ultra-Short Bond ETF

XCSH—XFUNDS 1-3 Month BOX ETF

In short

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.

XCSH No data

Stated mandate

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.

XCSH No data

Why people hold it

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

XCSH No data

Worth knowing

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

XCSH No data

Full VUSB profile⁠

Full XCSH profile⁠

VUSB vs XCSH Holdings

How VUSB and XCSH differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of VUSB and 0.0% of XCSH.

Level by level

Asset classFixed Income, Equity0.0%
Holdings0 in both0.0%
Countryby domicile77.2%

Sector

No Sector split for VUSB and XCSH.

Country, concentration and asset class

Country by domicile

Country weights in VUSB and XCSH, widest gap first
Country	More in VUSBMore in XCSH	VUSB	XCSH
United States	XCSH +22.6 points	76.9%	99.5%
Canada	VUSB +7.2 points	7.2%	0.0%
United Kingdom	VUSB +3.5 points	3.5%	0.0%
Cayman Islands	VUSB +2.5 points	2.5%	0.0%
Japan	VUSB +2.1 points	2.1%	0.0%
Germany	VUSB +1.7 points	1.7%	0.0%
Australia	VUSB +1.6 points	1.6%	0.0%
Ireland	VUSB +0.8 points	0.8%	0.0%
Other countries (15)	VUSB +3.3 points	3.7%	0.4%

Concentration

Weight in the 10 largest Holdings

VUSB11.2%
XCSH100.0%

Securities held

VUSB1,342
XCSH3

Asset class

VUSB: Fixed Income
XCSH: Equity

Holdings

Only in VUSB1,342
In both0
Only in XCSH3

Only in VUSB

1,342 securities, 96.2% of VUSB by weight

United States Treasury Bill 09/02/20272.24%
United States Treasury Bill 09/30/20272.20%
Regions Bank/Birmingham AL 4.75% 07/27/20290.83%
PNC Financial Services Group Inc/The 4.62% 10/26/20290.50%
National Bank of Canada 5.00% 09/08/20290.49%
Citizens Bank NA/Providence RI 4.87% 08/10/20290.45%
US Bancorp 5.78% 06/12/20290.44%
Charles Schwab Corp/The 4.60% 07/27/20290.42%
Canadian Imperial Bank of Commerce 4.72% 06/16/20290.39%
AbbVie Inc 4.50% 08/18/20280.39%
United States Treasury Note/Bond 3.50% 10/31/20270.39%
Truist Bank 4.42% 07/24/20280.38%
Province of British Columbia Canada 4.70% 01/24/20280.38%
Westlake Flooring Master Trust 4.23% 10/15/20290.38%
UBS Group AG 4.53% 04/10/20300.36%
OneMain Financial Issuance Trust 2026-2 4.98% 01/14/20380.35%
Bank of Montreal 4.63% 09/22/20280.35%
Hyundai Auto Lease Securitization Trust 2026-C 4.68% 07/16/20290.35%
Dllad 2024-1 Llc 5.30% 07/20/20290.34%
National Bank of Canada 4.17% 01/20/20290.33%
Goldman Sachs Group Inc/The 4.15% 01/21/20290.32%
Equitable Holdings Inc 4.35% 04/20/20280.32%
Truist Bank 4.14% 10/23/20290.32%
Wendy's Funding LLC 3.88% 03/15/20480.32%
Bank of America Corp 5.20% 04/25/20290.32%
PFS Financing Corp 5.34% 04/15/20290.31%
Rktl 2026-3 4.51% 08/27/20350.31%
Extra Space Storage LP 5.70% 04/01/20280.31%
NTT Finance Corp 4.57% 07/16/20270.30%
Truist Bank 4.14% 01/27/20290.30%
Intel Corp 4.88% 02/10/20280.30%
Mercedes-Benz Finance North America LLC 4.13% 03/10/20280.30%
Digital Realty Trust LP 4.45% 07/15/20280.30%
American Honda Finance Corp 4.40% 12/11/20260.29%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.00% 10/29/20280.29%
Navistar Financial Dealer Note Master Owner Trust II 2025-1 4.18% 09/25/20300.28%
Cheniere Corpus Christi Holdings LLC 5.13% 06/30/20270.27%
UBS Group AG 4.73% 12/23/20290.27%
M&T Bank Auto Receivables Trust 2026-1 4.33% 07/16/20290.27%
BAT Capital Corp 2.26% 03/25/20280.27%
Canadian Imperial Bank of Commerce 4.86% 01/13/20280.26%
M&T Bank Auto Receivables Trust 2026-1 4.66% 06/16/20310.26%
Deutsche Bank AG/New York NY 5.27% 09/18/20290.26%
Citizens Bank NA/Providence RI 4.19% 01/29/20290.26%
NatWest Group PLC 4.89% 05/18/20290.26%
Canadian Imperial Bank of Commerce 4.51% 01/29/20300.26%
Goldman Sachs Group Inc/The 3.81% 04/23/20290.26%
Digital Realty Trust LP 5.55% 01/15/20280.25%
Sprint Capital Corp 6.88% 11/15/20280.25%
Rktl 2026-2 4.33% 05/25/20350.25%

Only in XCSH

3 securities, 100% of XCSH by weight

Spy 01/15/2027 100.01 C67.46%
Spy 01/15/2027 1100.01 P32.45%
First American Government Obligations Fund 12/01/20310.09%

Weight gaps

VUSB and XCSH share no securities.

All VUSB holdings⁠All XCSH 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.

VUSB vs XCSH Cost

Overpaying XCSH vs VUSB

$1,643

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

VUSB 0.10%
$2,106
XCSH 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

VUSB 0.10%
XCSH 0.18%
Overpaying

Year by year

Year	VUSB	XCSH	Overpaying
10	$183	$328	$145
20	$717	$1,281	$564
30	$2,106	$3,749	$1,643

Expense ratio

0.10%VUSB, cheaper
0.18%XCSH

VUSB0.10%XCSH0.18%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

XCSH 36th cheapest of 78 funds

VUSB vs XCSH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VUSB 4.27%; XCSH No data
Payout (12M): VUSB $2.12; XCSH None
Last payment: VUSB $0.18; XCSH No data
Ex-dividend: VUSB Oct 1, 2026; XCSH No data
Paid on: VUSB Oct 5, 2026; XCSH No data
Frequency: VUSB Monthly; XCSH No data

Distribution history

Per share, 2023 to 2026, same scale for both

VUSBMonthly · 45 paymentsAll VUSB payments⁠

XCSHAll XCSH payments⁠

No distribution history available.

VUSB vs XCSH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: VUSB 0.8%XCSH No data
Return per unit of riskSharpe ratio, 3 years: VUSB 0.86XCSH No data
Worst fallMax drawdown, 5 years: VUSB −1.7%XCSH No data
Market sensitivityBeta, 5 years: VUSB 0.10XCSH 0.00; Market = 1

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