LCTU vs. PULT

Last updated Jul 17, 2026

LCTU (BlackRock U.S. Carbon Transition Readiness ETF) and PULT (Putnam ESG Ultra Short ETF) are both exchange-traded funds - LCTU is a ESG fund actively managed by BlackRock, while PULT is a Ultrashort Bond fund actively managed by Putnam. Both are actively managed. At a 0.04 correlation, their price movements are largely independent. LCTU charges 0.15%/yr vs 0.25%/yr for PULT.

Performance

LCTU vs. PULT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock U.S. Carbon Transition Readiness ETF (LCTU) and Putnam ESG Ultra Short ETF (PULT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LCTU

• 1D: -0.41%
• 1M: 0.99%
• 6M: 8.15%
• YTD: 9.64%
• 1Y: 20.56%
• 3Y*: 19.06%
• 5Y*: 12.02%
• 10Y*: —

PULT

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

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

LCTU vs. PULT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LCTU BlackRock U.S. Carbon Transition Readiness ETF	9.64%	16.96%	24.00%	23.26%
PULT Putnam ESG Ultra Short ETF	1.23%	5.08%	5.93%	5.47%

Correlation

The correlation between LCTU 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 (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.04

Return for Risk

LCTU vs. PULT — Risk / Return Rank

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

LCTU

LCTU Risk / Return Rank: 60
LCTU Sharpe Ratio Rank: 61
LCTU Sortino Ratio Rank: 60
LCTU Omega Ratio Rank: 60
LCTU Calmar Ratio Rank: 54
LCTU Martin Ratio Rank: 66

PULT

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

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.

LCTU vs. PULT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock U.S. Carbon Transition Readiness ETF (LCTU) 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.

	LCTU	PULT	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.25	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.20	—	—
Martin ratio: Return relative to average drawdown	9.38	—	—

Drawdowns

Drawdown Indicators

	LCTU	PULT	Difference
Max Drawdown Largest peak-to-trough decline	-25.93%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.93%	—	—
Current Drawdown Current decline from peak	-0.41%	—	—
Average Drawdown Average peak-to-trough decline	-6.21%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	—	—

Volatility

Volatility by Period

	LCTU	PULT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	—	—

LCTU vs. PULT - Expense Ratio Comparison

LCTU has a 0.15% 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

LCTU vs. PULT - Dividend Comparison

LCTU's dividend yield for the trailing twelve months is around 0.95%, while PULT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
LCTU BlackRock U.S. Carbon Transition Readiness ETF	0.95%	1.02%	1.27%	1.46%	1.63%	2.20%
PULT Putnam ESG Ultra Short ETF	3.89%	4.59%	5.38%	4.88%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCTU and PULT in my portfolio?

LCTU 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, LCTU or PULT?

On fees, LCTU is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCTU or PULT?

LCTU is cheaper with a 0.15% expense ratio, compared with 0.25% for PULT.

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

PULT has the higher dividend yield at 3.89%, compared with 0.95% for LCTU.

What is the main difference between LCTU and PULT?

LCTU is categorized as ESG, while PULT is Ultrashort Bond. They also come from different issuers: BlackRock and Putnam. Their fees differ too: 0.15% for LCTU and 0.25% for PULT.