IQSZ vs. PULT

Last updated Jun 6, 2026

IQSZ (Invesco Global Equity Net Zero ETF) and PULT (Putnam ESG Ultra Short ETF) are both exchange-traded funds - IQSZ is a ESG fund actively managed by Invesco, while PULT is a Ultrashort Bond fund actively managed by Putnam. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. IQSZ charges 0.19%/yr vs 0.25%/yr for PULT.

Performance

IQSZ vs. PULT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Equity Net Zero ETF (IQSZ) and Putnam ESG Ultra Short ETF (PULT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQSZ achieves a 11.32% return, which is significantly higher than PULT's 1.08% return.

IQSZ

• 1D: -2.92%
• 1M: -0.13%
• YTD: 11.32%
• 6M: 12.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PULT

• 1D: -0.11%
• 1M: 0.13%
• YTD: 1.08%
• 6M: 1.49%
• 1Y: 4.06%
• 3Y*: 5.28%
• 5Y*: —
• 10Y*: —

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

IQSZ vs. PULT - Yearly Performance Comparison

	2026 (YTD)	2025
IQSZ Invesco Global Equity Net Zero ETF	11.32%	13.36%
PULT Putnam ESG Ultra Short ETF	1.08%	2.33%

Correlation

The correlation between IQSZ and PULT is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.05

Return for Risk

IQSZ vs. PULT — Risk / Return Rank

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

PULT

PULT Risk / Return Rank: 98
PULT Sharpe Ratio Rank: 98
PULT Sortino Ratio Rank: 99
PULT Omega Ratio Rank: 99
PULT Calmar Ratio Rank: 96
PULT Martin Ratio Rank: 98

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.

IQSZ vs. PULT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Equity Net Zero ETF (IQSZ) 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.

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

Sharpe Ratios by Period

	IQSZ	PULT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.14	8.22	-6.08

Drawdowns

IQSZ vs. PULT - Drawdown Comparison

The maximum IQSZ drawdown since its inception was -9.12%, which is greater than PULT's maximum drawdown of -0.43%. Use the drawdown chart below to compare losses from any high point for IQSZ and PULT.

Drawdown Indicators

	IQSZ	PULT	Difference
Max Drawdown Largest peak-to-trough decline	-9.12%	-0.43%	-8.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.43%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.43%	—
Current Drawdown Current decline from peak	-3.05%	-0.43%	-2.62%
Average Drawdown Average peak-to-trough decline	-1.22%	-0.02%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.05%	—

Volatility

Volatility by Period

	IQSZ	PULT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	0.76%	+13.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	0.64%	+13.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.02%	0.64%	+13.38%

IQSZ vs. PULT - Expense Ratio Comparison

IQSZ has a 0.19% expense ratio, which is lower than PULT's 0.25% 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

IQSZ vs. PULT - Dividend Comparison

IQSZ's dividend yield for the trailing twelve months is around 1.32%, less than PULT's 4.25% yield.

Position	TTM	2025	2024	2023
IQSZ Invesco Global Equity Net Zero ETF	1.32%	1.03%	0.00%	0.00%
PULT Putnam ESG Ultra Short ETF	4.25%	4.59%	5.38%	4.88%

Frequently Asked Questions

Can I hold both IQSZ and PULT in my portfolio?

IQSZ and PULT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQSZ or PULT?

On fees, IQSZ is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQSZ or PULT?

IQSZ is cheaper with a 0.19% expense ratio, compared with 0.25% for PULT.

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

PULT has the higher dividend yield at 4.25%, compared with 1.32% for IQSZ.

What is the main difference between IQSZ and PULT?

IQSZ is categorized as ESG, while PULT is Ultrashort Bond. They also come from different issuers: Invesco and Putnam. Their fees differ too: 0.19% for IQSZ and 0.25% for PULT.