JPSE vs. PULS
JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and PULS (PGIM Ultra Short Bond ETF) are both exchange-traded funds - JPSE is a Small Cap Growth Equities fund tracking the JPMorgan Diversified Factor US Small Cap Equity Index, while PULS is a Ultrashort Bond fund actively managed by PGIM. JPSE is passively managed, while PULS is actively managed. Over the past 5 years, JPSE returned 7.84%/yr vs 4.16%/yr for PULS. At a 0.08 correlation, their price movements are largely independent. JPSE charges 0.29%/yr vs 0.15%/yr for PULS.
Performance
JPSE vs. PULS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JPSE achieves a 18.86% return, which is significantly higher than PULS's 1.90% return.
JPSE
- 1D
- 0.34%
- 1M
- 3.24%
- YTD
- 18.86%
- 6M
- 16.31%
- 1Y
- 35.69%
- 3Y*
- 16.60%
- 5Y*
- 7.84%
- 10Y*
- —
PULS
- 1D
- 0.00%
- 1M
- 0.26%
- YTD
- 1.90%
- 6M
- 2.03%
- 1Y
- 4.59%
- 3Y*
- 5.51%
- 5Y*
- 4.16%
- 10Y*
- —
JPSE vs. PULS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 18.86% | 8.77% | 8.07% | 15.87% | -14.40% | 29.31% | 12.49% | 22.95% | -6.68% |
PULS PGIM Ultra Short Bond ETF | 1.90% | 4.97% | 6.12% | 6.26% | 1.52% | 0.48% | 1.47% | 2.97% | 1.71% |
Correlation
The correlation between JPSE and PULS is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.08 |
Over the past year, JPSE and PULS have become more correlated (0.30) than their long-term average of 0.08, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JPSE vs. PULS — Risk / Return Rank
JPSE
PULS
JPSE vs. PULS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) 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.
| JPSE | PULS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.54 | ||
| Sortino ratioReturn per unit of downside risk | -24.73 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 6.78 | -5.40 |
| Calmar ratioReturn relative to maximum drawdown | 4.48 | 51.29 | -46.81 |
| Martin ratioReturn relative to average drawdown | 15.97 | 293.54 | -277.56 |
Loading charts...
Drawdowns
JPSE vs. PULS - Drawdown Comparison
The maximum JPSE drawdown since its inception was -43.02%, which is greater than PULS's maximum drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for JPSE and PULS.
Loading charts...
Drawdown Indicators
| JPSE | PULS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.02% | -5.85% | -37.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -0.09% | -7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -0.34% | -25.15% |
Max Drawdown (5Y)Largest decline over 5 years | -25.56% | -0.79% | -24.77% |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -7.39% | -0.09% | -7.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 0.02% | +2.22% |
Volatility
JPSE vs. PULS - Volatility Comparison
JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) has a higher volatility of 4.74% compared to PGIM Ultra Short Bond ETF (PULS) at 0.15%. This indicates that JPSE'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.
Loading charts...
Volatility by Period
| JPSE | PULS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 0.15% | +4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.20% | 0.32% | +10.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.23% | 0.43% | +15.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.08% | 0.70% | +19.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.79% | 1.33% | +20.46% |
JPSE vs. PULS - Expense Ratio Comparison
JPSE has a 0.29% expense ratio, which is higher than PULS's 0.15% expense ratio.
Dividends
JPSE vs. PULS - Dividend Comparison
JPSE's dividend yield for the trailing twelve months is around 1.34%, less than PULS's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 1.34% | 1.62% | 1.66% | 1.76% | 1.55% | 1.24% | 1.32% | 1.23% | 1.18% | 0.74% | 0.14% |
PULS PGIM Ultra Short Bond ETF | 4.57% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% | 0.00% | 0.00% |
Frequently Asked Questions
JPSE and PULS have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPSE has higher volatility (4.74%) compared to PULS (0.15%). In terms of maximum drawdown, JPSE dropped -43.02% vs PULS's -5.85%.
On 5-year performance, JPSE leads with 7.84% vs 4.16% for PULS. On fees, PULS is cheaper at 0.15% per year. On volatility, PULS has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JPSE has performed better with a 7.84% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PULS is cheaper with a 0.15% expense ratio, compared with 0.29% for JPSE.
PULS has the higher dividend yield at 4.57%, compared with 1.34% for JPSE.
JPSE is categorized as Small Cap Growth Equities, while PULS is Ultrashort Bond. They also come from different issuers: JPMorgan and PGIM. Their fees differ too: 0.29% for JPSE and 0.15% for PULS.
PULS currently has the higher Sharpe Ratio (10.75 vs 2.21), 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.
Find the right allocation for JPSE and PULS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer