- ISIN
- US69344A5039
- CUSIP
- 69344A503
- Issuer
- PGIM
- Inception Date
- Jun 24, 2024
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $98M
Share Price Chart
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Performance
PUSH Performance Chart
PGIM Ultra Short Municipal Bond ETF (PUSH) is up 1.4% since the beginning of the year. PUSH is currently trading at $50 per share.
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Returns By Period
PGIM Ultra Short Municipal Bond ETF (PUSH) has returned 1.42% so far this year and 3.68% over the past 12 months.
PGIM Ultra Short Municipal Bond ETF
- 1D
- 0.04%
- 1M
- 0.47%
- YTD
- 1.42%
- 6M
- 1.51%
- 1Y
- 3.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PUSH Monthly Returns History
Based on dividend-adjusted daily data since Jun 28, 2024, PUSH's average daily return is +0.01%, while the average monthly return is +0.29%. At this rate, an investment would double in approximately 19.9 years.
Historically, 88% of months were positive and 12% were negative. The best month was Aug 2025 with a return of +0.7%, while the worst month was Mar 2026 at -0.4%. The longest winning streak lasted 16 consecutive months, and the longest losing streak was 1 months.
On a daily basis, PUSH closed higher 61% of trading days. The best single day was Jan 26, 2026 with a return of +0.6%, while the worst single day was Jan 27, 2026 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.52% | 0.49% | -0.37% | 0.27% | 0.28% | 0.22% | 1.42% | ||||||
| 2025 | 0.52% | 0.50% | 0.06% | 0.12% | 0.38% | 0.47% | 0.34% | 0.69% | 0.19% | 0.16% | 0.33% | 0.32% | 4.16% |
| 2024 | 0.00% | 0.53% | 0.45% | 0.40% | -0.06% | 0.35% | 0.06% | 1.74% |
Benchmark Metrics
PGIM Ultra Short Municipal Bond ETF has an annualized alpha of 3.71%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 28, 2024.
- This ETF captured 9.63% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -7.73%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.71%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 9.63%
- Downside Capture
- -7.73%
Expense Ratio
PUSH has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
PUSH ranks 88 for risk / return — in the top 88% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for PGIM Ultra Short Municipal Bond ETF (PUSH) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PUSH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.37 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 7.36 | 2.78 | +4.58 |
| Martin ratioReturn relative to average drawdown | 18.28 | 12.44 | +5.84 |
Dividends
Dividend History
PGIM Ultra Short Municipal Bond ETF provided a 3.23% dividend yield over the last twelve months, with an annual payout of $1.63 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.63 | $1.74 | $0.93 |
Dividend yield | 3.23% | 3.45% | 1.86% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Ultra Short Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.13 | $0.25 | $0.13 | $0.14 | $0.00 | $0.64 | ||||||
| 2025 | $0.00 | $0.17 | $0.13 | $0.15 | $0.14 | $0.16 | $0.15 | $0.16 | $0.13 | $0.14 | $0.14 | $0.27 | $1.74 |
| 2024 | $0.20 | $0.13 | $0.16 | $0.15 | $0.29 | $0.93 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the PGIM Ultra Short Municipal Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the PGIM Ultra Short Municipal Bond ETF was 0.85%, occurring on Apr 11, 2025. Recovery took 18 trading sessions.
The current PGIM Ultra Short Municipal Bond ETF drawdown is 0.01%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -0.85%Apr 2025 | 4d | 27d | 1mo 1dApr 2025 - May 2025 |
2026 pullback2026 | -0.50%Jan 2026 | 0s | 1mo 1d | 1mo 1dJan 2026 - Feb 2026 |
2025 pullback2025 | -0.49%Sep 2025 | 2d | 2mo 16d | 2mo 18dSep 2025 - Dec 2025 |
2026 pullback2026 | -0.43%Mar 2026 | 23d | 1mo 12d | 2mo 5dMar 2026 - May 2026 |
2025 pullback2025 | -0.27%Aug 2025 | 0s | 14d | 14dAug 2025 - Sep 2025 |
Drawdown Indicators
| PUSH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.85% | -56.78% | +55.93% |
Max Drawdown (1Y)Largest decline over 1 year | -0.50% | -9.10% | +8.60% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.01% | -1.80% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -10.71% | +10.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 2.03% | -1.83% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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