CARY vs. PULT

Last updated Apr 1, 2026

Compare and contrast key facts about Angel Oak Income ETF (CARY) and Putnam ESG Ultra Short ETF (PULT).

CARY and PULT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CARY is an actively managed fund by Angel Oak. It was launched on Nov 7, 2022. PULT is an actively managed fund by Putnam. It was launched on Jan 19, 2023.

Performance

CARY vs. PULT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Income ETF (CARY) and Putnam ESG Ultra Short ETF (PULT). The values are adjusted to include any dividend payments, if applicable.

CARY vs. PULT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CARY Angel Oak Income ETF	0.97%	7.54%	-0.74%
PULT Putnam ESG Ultra Short ETF	0.56%	5.08%	0.19%

Returns By Period

In the year-to-date period, CARY achieves a 0.97% return, which is significantly higher than PULT's 0.56% return.

CARY

• 1D: 0.36%
• 1M: -0.81%
• YTD: 0.97%
• 6M: 2.36%
• 1Y: 6.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PULT

• 1D: 0.08%
• 1M: 0.10%
• YTD: 0.56%
• 6M: 1.75%
• 1Y: 4.37%
• 3Y*: 5.51%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CARY vs. PULT - Expense Ratio Comparison

CARY has a 0.80% expense ratio, which is higher than PULT's 0.25% expense ratio.

CARY

Angel Oak Income ETF

PULT

Putnam ESG Ultra Short ETF

Return for Risk

CARY vs. PULT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CARY

CARY Risk / Return Rank: 97
CARY Sharpe Ratio Rank: 98
CARY Sortino Ratio Rank: 98
CARY Omega Ratio Rank: 98
CARY Calmar Ratio Rank: 97
CARY Martin Ratio Rank: 97

PULT

PULT Risk / Return Rank: 99
PULT Sharpe Ratio Rank: 99
PULT Sortino Ratio Rank: 99
PULT Omega Ratio Rank: 99
PULT Calmar Ratio Rank: 99
PULT Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CARY vs. PULT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Income ETF (CARY) and Putnam ESG Ultra Short ETF (PULT). 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.

	CARY	PULT	Difference
Sharpe ratio Return per unit of total volatility	3.09	7.40	-4.32
Sortino ratio Return per unit of downside risk	4.52	15.34	-10.82
Omega ratio Gain probability vs. loss probability	1.67	3.47	-1.80
Calmar ratio Return relative to maximum drawdown	5.08	20.05	-14.98
Martin ratio Return relative to average drawdown	19.05	97.34	-78.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARY vs. PULT - Sharpe Ratio Comparison

The current CARY Sharpe Ratio is 3.09, which is lower than the PULT Sharpe Ratio of 7.40. The chart below compares the historical Sharpe Ratios of CARY and PULT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CARY	PULT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.09	7.40	-4.32
Sharpe Ratio (All Time) Calculated using the full available price history	2.83	9.30	-6.48

Correlation

The correlation between CARY and PULT is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CARY vs. PULT - Dividend Comparison

CARY's dividend yield for the trailing twelve months is around 6.07%, more than PULT's 4.69% yield.

	TTM	2025	2024	2023
CARY Angel Oak Income ETF	6.07%	6.13%	0.42%	0.00%
PULT Putnam ESG Ultra Short ETF	4.69%	4.59%	5.38%	4.88%

Drawdowns

CARY vs. PULT - Drawdown Comparison

The maximum CARY drawdown since its inception was -1.28%, which is greater than PULT's maximum drawdown of -0.34%. Use the drawdown chart below to compare losses from any high point for CARY and PULT.

Drawdown Indicators

	CARY	PULT	Difference
Max Drawdown Largest peak-to-trough decline	-1.28%	-0.34%	-0.94%
Max Drawdown (1Y) Largest decline over 1 year	-1.28%	-0.22%	-1.06%
Current Drawdown Current decline from peak	-0.83%	0.00%	-0.83%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.02%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.04%	+0.30%

Volatility

CARY vs. PULT - Volatility Comparison

Angel Oak Income ETF (CARY) has a higher volatility of 0.89% compared to Putnam ESG Ultra Short ETF (PULT) at 0.15%. This indicates that CARY's price experiences larger fluctuations and is considered to be riskier than PULT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CARY	PULT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	0.15%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	1.27%	0.44%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	2.05%	0.59%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.18%	0.58%	+1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.18%	0.58%	+1.60%