HFSP vs. PULT

Last updated Aug 2, 2026

HFSP (TradersAI Large Cap Equity & Cash ETF) and PULT (Putnam ESG Ultra Short ETF) are both exchange-traded funds - HFSP is a Long-Short fund actively managed by Tidal, while PULT is a Ultrashort Bond fund actively managed by Putnam. Both are actively managed. Their -0.05 correlation means they have often moved in opposite directions in the past. HFSP charges 1.25%/yr vs 0.25%/yr for PULT.

Performance

HFSP vs. PULT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TradersAI Large Cap Equity & Cash ETF (HFSP) and Putnam ESG Ultra Short ETF (PULT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HFSP

• 1D: -2.86%
• 1M: -4.16%
• 6M: -13.42%
• YTD: -13.00%
• 1Y: -26.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -20.56%

PULT

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HFSP TradersAI Large Cap Equity & Cash ETF	$263.78	$441.47	$507.97

HFSP vs. PULT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HFSP TradersAI Large Cap Equity & Cash ETF	-13.00%	-24.01%	0.75%
PULT Putnam ESG Ultra Short ETF	1.23%	5.08%	0.89%

Correlation

The correlation between HFSP and PULT is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.08
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.05

Return for Risk

HFSP vs. PULT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HFSP

HFSP Risk / Return Rank: 0
HFSP Sharpe Ratio Rank: 0
HFSP Sortino Ratio Rank: 1
HFSP Omega Ratio Rank: 0
HFSP Calmar Ratio Rank: 1
HFSP Martin Ratio Rank: 0

PULT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HFSP vs. PULT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TradersAI Large Cap Equity & Cash ETF (HFSP) 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.

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.

	HFSP	PULT	Difference
Sharpe ratio: Return per unit of total volatility	-1.48	—	—
Sortino ratio: Return per unit of downside risk	-1.97	—	—
Omega ratio: Gain probability vs. loss probability	0.75	—	—
Calmar ratio: Return relative to maximum drawdown	-0.92	—	—
Martin ratio: Return relative to average drawdown	-1.52	—	—

Drawdowns

Drawdown Indicators

	HFSP	PULT	Difference
Max Drawdown Largest peak-to-trough decline	-37.30%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-28.62%	—	—
Current Drawdown Current decline from peak	-37.30%	—	—
Average Drawdown Average peak-to-trough decline	-18.61%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	17.31%	—	—

Volatility

Volatility by Period

	HFSP	PULT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.00%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.00%	—	—

HFSP vs. PULT - Expense Ratio Comparison

HFSP has a 1.25% expense ratio, which is higher than PULT's 0.25% expense ratio.

Dividends

HFSP vs. PULT - Dividend Comparison

Neither HFSP nor PULT has paid dividends to shareholders.

Position	TTM	2025	2024	2023
HFSP TradersAI Large Cap Equity & Cash ETF	0.00%	0.00%	1.53%	0.00%
PULT Putnam ESG Ultra Short ETF	3.89%	4.59%	5.38%	4.88%

Frequently Asked Questions

Can I hold both HFSP and PULT in my portfolio?

HFSP and PULT have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HFSP or PULT?

On fees, PULT is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HFSP or PULT?

PULT is cheaper with a 0.25% expense ratio, compared with 1.25% for HFSP.

Which ETF pays a higher dividend yield, HFSP or PULT?

PULT has the higher dividend yield at 3.89%, compared with 0.00% for HFSP.

What is the main difference between HFSP and PULT?

HFSP is categorized as Long-Short, while PULT is Ultrashort Bond. They also come from different issuers: Tidal and Putnam. Their fees differ too: 1.25% for HFSP and 0.25% for PULT.