BND vs. PULS
BND (Vanguard Total Bond Market ETF) and PULS (PGIM Ultra Short Bond ETF) are both exchange-traded funds - BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while PULS is a Ultrashort Bond fund actively managed by PGIM. BND is passively managed, while PULS is actively managed. Over the past 5 years, BND returned -0.05%/yr vs 4.12%/yr for PULS. At a 0.29 correlation, their price movements are largely independent. BND charges 0.03%/yr vs 0.15%/yr for PULS.
Performance
BND vs. PULS - Performance Comparison
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Returns By Period
In the year-to-date period, BND achieves a -0.07% return, which is significantly lower than PULS's 1.73% return.
BND
- 1D
- -0.03%
- 1M
- -0.67%
- YTD
- -0.07%
- 6M
- 0.23%
- 1Y
- 4.87%
- 3Y*
- 3.89%
- 5Y*
- -0.05%
- 10Y*
- 1.53%
PULS
- 1D
- 0.00%
- 1M
- 0.26%
- YTD
- 1.73%
- 6M
- 2.05%
- 1Y
- 4.65%
- 3Y*
- 5.58%
- 5Y*
- 4.12%
- 10Y*
- —
BND vs. PULS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | -0.07% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | 1.59% |
PULS PGIM Ultra Short Bond ETF | 1.73% | 4.97% | 6.12% | 6.26% | 1.52% | 0.48% | 1.47% | 2.97% | 1.71% |
Correlation
The correlation between BND and PULS is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2018 | 0.29 |
The correlation between BND and PULS shifts across timeframes, from 0.29 (all time) to 0.43 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BND vs. PULS — Risk / Return Rank
BND
PULS
BND vs. PULS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and PGIM Ultra Short Bond ETF (PULS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BND | PULS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.99 | ||
| Sortino ratioReturn per unit of downside risk | -30.66 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 7.53 | -6.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 52.00 | -50.17 |
| Martin ratioReturn relative to average drawdown | 5.43 | 314.53 | -309.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BND | PULS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 11.31 | -9.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 5.92 | -5.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 2.51 | -1.92 |
Drawdowns
BND vs. PULS - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, which is greater than PULS's maximum drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for BND and PULS.
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Drawdown Indicators
| BND | PULS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -5.85% | -12.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -0.09% | -2.59% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -0.34% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -0.79% | -17.12% |
Max Drawdown (10Y)Largest decline over 10 years | -18.58% | — | — |
Current DrawdownCurrent decline from peak | -2.70% | -0.02% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -0.09% | -2.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.01% | +0.89% |
Volatility
BND vs. PULS - Volatility Comparison
Vanguard Total Bond Market ETF (BND) has a higher volatility of 1.20% compared to PGIM Ultra Short Bond ETF (PULS) at 0.11%. This indicates that BND's price experiences larger fluctuations and is considered to be riskier than PULS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND | PULS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.11% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 0.30% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 0.41% | +3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 0.70% | +5.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 1.33% | +4.20% |
BND vs. PULS - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is lower than PULS's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BND vs. PULS - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 3.98%, less than PULS's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.98% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
PULS PGIM Ultra Short Bond ETF | 4.58% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BND and PULS have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BND has higher volatility (1.20%) compared to PULS (0.11%). In terms of maximum drawdown, BND dropped -18.58% vs PULS's -5.85%.
On 5-year performance, PULS leads with 4.12% vs -0.05% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, PULS has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PULS has performed better with a 4.12% return vs -0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.15% for PULS.
PULS has the higher dividend yield at 4.58%, compared with 3.98% for BND.
BND is categorized as Total Bond Market, while PULS is Ultrashort Bond. They also come from different issuers: Vanguard and PGIM. Their fees differ too: 0.03% for BND and 0.15% for PULS.
PULS currently has the higher Sharpe Ratio (11.31 vs 1.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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