We study the speed/fidelity trade-off for a two-qubit phase gate implemented in $^{43}$Ca$^+$ hyperfine trapped-ion qubits. We characterize various error sources contributing to the measured fidelity, allowing us to account for errors due to single-qubit state preparation, rotation and measurement (each at the $sim0.1%$ level), and to identify the leading sources of error in the two-qubit entangling operation. We achieve gate fidelities ranging between $97.1(2)%$ (for a gate time $t_g=3.8mu$s) and $99.9(1)%$ (for $t_g=100mu$s), representing respectively the fastest and lowest-error two-qubit gates reported between trapped-ion qubits by nearly an order of magnitude in each case.