FGNX vs. PULS

Last updated Jun 4, 2026

FGNX (Fundamental Global Inc) is a stock, while PULS (PGIM Ultra Short Bond ETF) is Ultrashort Bond fund actively managed by PGIM. Over the past 5 years, FGNX returned -63.59%/yr vs 4.12%/yr for PULS. At a 0.05 correlation, their price movements are largely independent.

Performance

FGNX vs. PULS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fundamental Global Inc (FGNX) 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, FGNX achieves a -48.29% return, which is significantly lower than PULS's 1.73% return.

FGNX

• 1D: -13.40%
• 1M: 17.72%
• YTD: -48.29%
• 6M: -55.14%
• 1Y: -91.36%
• 3Y*: -68.09%
• 5Y*: -63.59%
• 10Y*: -38.19%

PULS

• 1D: 0.00%
• 1M: 0.36%
• YTD: 1.73%
• 6M: 2.09%
• 1Y: 4.70%
• 3Y*: 5.61%
• 5Y*: 4.12%
• 10Y*: —

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

FGNX vs. PULS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FGNX Fundamental Global Inc	-48.29%	-87.39%	-45.50%	-43.86%	-24.20%	-10.90%	-23.55%	37.31%	-40.00%
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 FGNX and PULS is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Apr 11, 2018	0.05

The correlation between FGNX and PULS shifts across timeframes, from 0.05 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FGNX vs. PULS — Risk / Return Rank

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

FGNX

FGNX Risk / Return Rank: 11
FGNX Sharpe Ratio Rank: 16
FGNX Sortino Ratio Rank: 7
FGNX Omega Ratio Rank: 8
FGNX Calmar Ratio Rank: 5
FGNX Martin Ratio Rank: 18

PULS

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

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.

FGNX vs. PULS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fundamental Global Inc (FGNX) 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.

	FGNX	PULS	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	11.41	-12.00
Sortino ratio: Return per unit of downside risk	-1.38	32.91	-34.29
Omega ratio: Gain probability vs. loss probability	0.83	7.59	-6.76
Calmar ratio: Return relative to maximum drawdown	-0.94	52.47	-53.40
Martin ratio: Return relative to average drawdown	-1.12	318.56	-319.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGNX vs. PULS - Sharpe Ratio Comparison

The current FGNX Sharpe Ratio is -0.59, which is lower than the PULS Sharpe Ratio of 11.41. The chart below compares the historical Sharpe Ratios of FGNX 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.

Sharpe Ratios by Period

	FGNX	PULS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	11.41	-12.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.62	5.92	-6.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	2.51	-2.95

Drawdowns

FGNX vs. PULS - Drawdown Comparison

The maximum FGNX drawdown since its inception was -99.66%, which is greater than PULS's maximum drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for FGNX and PULS.

Drawdown Indicators

	FGNX	PULS	Difference
Max Drawdown Largest peak-to-trough decline	-99.66%	-5.85%	-93.81%
Max Drawdown (1Y) Largest decline over 1 year	-97.79%	-0.09%	-97.70%
Max Drawdown (3Y) Largest decline over 3 years	-98.21%	-0.34%	-97.87%
Max Drawdown (5Y) Largest decline over 5 years	-99.66%	-0.79%	-98.87%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	—	—
Current Drawdown Current decline from peak	-99.43%	0.00%	-99.43%
Average Drawdown Average peak-to-trough decline	-52.46%	-0.09%	-52.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	81.62%	0.01%	+81.61%

Volatility

FGNX vs. PULS - Volatility Comparison

Fundamental Global Inc (FGNX) has a higher volatility of 29.99% compared to PGIM Ultra Short Bond ETF (PULS) at 0.11%. This indicates that FGNX'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.

Volatility by Period

	FGNX	PULS	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.99%	0.11%	+29.88%
Volatility (6M) Calculated over the trailing 6-month period	68.91%	0.30%	+68.61%
Volatility (1Y) Calculated over the trailing 1-year period	155.97%	0.41%	+155.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.46%	0.70%	+102.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.36%	1.33%	+82.03%

Dividends

FGNX vs. PULS - Dividend Comparison

FGNX has not paid dividends to shareholders, while PULS's dividend yield for the trailing twelve months is around 4.58%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FGNX Fundamental Global Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PULS PGIM Ultra Short Bond ETF	4.58%	4.78%	5.62%	5.48%	2.30%	1.19%	1.85%	2.69%	1.87%

Frequently Asked Questions

Can I hold both FGNX and PULS in my portfolio?

FGNX and PULS have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGNX or PULS?

FGNX has higher volatility (29.99%) compared to PULS (0.11%). In terms of maximum drawdown, FGNX dropped -99.66% vs PULS's -5.85%.

Which has better risk-adjusted returns?

PULS currently has the higher Sharpe Ratio (11.41 vs -0.59), 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.