EMNT vs. PULS

Last updated Jun 12, 2026

EMNT (PIMCO Enhanced Short Maturity Active ESG ETF) and PULS (PGIM Ultra Short Bond ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, EMNT returned 3.45%/yr vs 4.14%/yr for PULS. At a 0.40 correlation, their price movements are largely independent. EMNT charges 0.24%/yr vs 0.15%/yr for PULS.

Performance

EMNT vs. PULS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) and PGIM Ultra Short Bond ETF (PULS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMNT achieves a 1.74% return, which is significantly lower than PULS's 1.84% return.

EMNT

• 1D: 0.04%
• 1M: 0.28%
• YTD: 1.74%
• 6M: 1.98%
• 1Y: 4.37%
• 3Y*: 5.23%
• 5Y*: 3.45%
• 10Y*: —

PULS

• 1D: 0.04%
• 1M: 0.34%
• YTD: 1.84%
• 6M: 2.07%
• 1Y: 4.67%
• 3Y*: 5.59%
• 5Y*: 4.14%
• 10Y*: —

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

EMNT vs. PULS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMNT PIMCO Enhanced Short Maturity Active ESG ETF	1.74%	4.74%	5.79%	5.84%	-0.57%	0.11%	2.08%	0.06%
PULS PGIM Ultra Short Bond ETF	1.84%	4.97%	6.12%	6.26%	1.52%	0.48%	1.47%	0.25%

Correlation

The correlation between EMNT and PULS is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Dec 12, 2019	0.40

The correlation between EMNT and PULS shifts across timeframes, from 0.35 (3 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EMNT vs. PULS — Risk / Return Rank

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

EMNT

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

PULS

PULS Risk / Return Rank: 99
PULS Sharpe Ratio Rank: 100
PULS Sortino Ratio Rank: 99
PULS Omega Ratio Rank: 99
PULS Calmar Ratio Rank: 99
PULS 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.

EMNT vs. PULS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) 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.

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.

	EMNT	PULS	Difference
Sharpe ratio: Return per unit of total volatility	10.59	11.37	-0.78
Sortino ratio: Return per unit of downside risk	20.91	32.77	-11.85
Omega ratio: Gain probability vs. loss probability	5.50	7.56	-2.06
Calmar ratio: Return relative to maximum drawdown	33.41	52.23	-18.82
Martin ratio: Return relative to average drawdown	233.91	315.96	-82.04

EMNT vs. PULS - Sharpe Ratio Comparison

The current EMNT Sharpe Ratio is 10.59, which is comparable to the PULS Sharpe Ratio of 11.37. The chart below compares the historical Sharpe Ratios of EMNT and PULS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMNT vs. PULS - Drawdown Comparison

The maximum EMNT drawdown since its inception was -2.28%, smaller than the maximum PULS drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for EMNT and PULS.

Drawdown Indicators

	EMNT	PULS	Difference
Max Drawdown Largest peak-to-trough decline	-2.28%	-5.85%	+3.57%
Max Drawdown (1Y) Largest decline over 1 year	-0.13%	-0.09%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.73%	-0.34%	-0.39%
Max Drawdown (5Y) Largest decline over 5 years	-1.70%	-0.79%	-0.91%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.09%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.01%	+0.01%

Volatility

EMNT vs. PULS - Volatility Comparison

PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) and PGIM Ultra Short Bond ETF (PULS) have volatilities of 0.12% and 0.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMNT	PULS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	0.12%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.35%	0.30%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	0.41%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.83%	0.70%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	1.33%	-0.47%

EMNT vs. PULS - Expense Ratio Comparison

EMNT has a 0.24% expense ratio, which is higher than PULS's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EMNT vs. PULS - Dividend Comparison

EMNT's dividend yield for the trailing twelve months is around 4.00%, less than PULS's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMNT PIMCO Enhanced Short Maturity Active ESG ETF	4.00%	4.46%	5.14%	4.62%	2.79%	0.66%	1.44%	0.00%	0.00%
PULS PGIM Ultra Short Bond ETF	4.57%	4.78%	5.62%	5.48%	2.30%	1.19%	1.85%	2.69%	1.87%

Frequently Asked Questions

Can I hold both EMNT and PULS in my portfolio?

EMNT and PULS have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMNT or PULS?

PULS has higher volatility (0.12%) compared to EMNT (0.12%). In terms of maximum drawdown, EMNT dropped -2.28% vs PULS's -5.85%.

Which ETF is better, EMNT or PULS?

On 5-year performance, PULS leads with 4.14% vs 3.45% for EMNT. On fees, PULS is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMNT or PULS?

Over the 5-year period, PULS has performed better with a 4.14% return vs 3.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMNT or PULS?

PULS is cheaper with a 0.15% expense ratio, compared with 0.24% for EMNT.

Which ETF pays a higher dividend yield, EMNT or PULS?

PULS has the higher dividend yield at 4.57%, compared with 4.00% for EMNT.

What is the main difference between EMNT and PULS?

They also come from different issuers: PIMCO and PGIM. Their fees differ too: 0.24% for EMNT and 0.15% for PULS.

Which has better risk-adjusted returns?

PULS currently has the higher Sharpe Ratio (11.37 vs 10.59), 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.