LCTU vs. PULT

Last updated Jun 4, 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. Over the past 3 years, LCTU returned 21.17%/yr vs 5.35%/yr for PULT. 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

In the year-to-date period, LCTU achieves a 9.04% return, which is significantly higher than PULT's 1.23% return.

LCTU

• 1D: -0.74%
• 1M: 5.23%
• YTD: 9.04%
• 6M: 9.21%
• 1Y: 25.72%
• 3Y*: 21.17%
• 5Y*: 12.37%
• 10Y*: —

PULT

• 1D: -0.29%
• 1M: 0.35%
• YTD: 1.23%
• 6M: 1.65%
• 1Y: 4.26%
• 3Y*: 5.35%
• 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	9.04%	16.96%	24.00%	21.01%
PULT Putnam ESG Ultra Short ETF	1.23%	5.08%	5.93%	5.46%

Correlation

The correlation between LCTU and PULT is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 23, 2023	0.04

LCTU vs. PULT - Sectors Allocation Comparison

Sectors	LCTU	PULT
Technology	34.6%	0.6%
Financial Services	12.1%	2.8%
Communication Services	10.3%	0.6%
Consumer Cyclical	10.3%	0.7%
Healthcare	8.8%	0.3%
Industrials	8.7%	0.9%
Consumer Defensive	4.9%	-
Energy	3.5%	0.1%
Real Estate	2.5%	1.5%
Utilities	2.5%	0.2%
Basic Materials	1.9%	0.1%

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: 61
LCTU Sharpe Ratio Rank: 62
LCTU Sortino Ratio Rank: 61
LCTU Omega Ratio Rank: 62
LCTU Calmar Ratio Rank: 55
LCTU Martin Ratio Rank: 67

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: 98
PULT Martin Ratio Rank: 99

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.

	LCTU	PULT	Difference
Sharpe ratio: Return per unit of total volatility	2.10	5.71	-3.61
Sortino ratio: Return per unit of downside risk	2.89	10.25	-7.36
Omega ratio: Gain probability vs. loss probability	1.38	3.12	-1.74
Calmar ratio: Return relative to maximum drawdown	2.75	14.92	-12.17
Martin ratio: Return relative to average drawdown	12.25	102.05	-89.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCTU vs. PULT - Sharpe Ratio Comparison

The current LCTU Sharpe Ratio is 2.10, which is lower than the PULT Sharpe Ratio of 5.71. The chart below compares the historical Sharpe Ratios of LCTU and PULT, 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

	LCTU	PULT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	5.71	-3.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	8.37	-7.61

Drawdowns

LCTU vs. PULT - Drawdown Comparison

The maximum LCTU drawdown since its inception was -25.93%, which is greater than PULT's maximum drawdown of -0.34%. Use the drawdown chart below to compare losses from any high point for LCTU and PULT.

Drawdown Indicators

	LCTU	PULT	Difference
Max Drawdown Largest peak-to-trough decline	-25.93%	-0.34%	-25.59%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-0.29%	-9.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.83%	-0.29%	-19.54%
Max Drawdown (5Y) Largest decline over 5 years	-25.93%	—	—
Current Drawdown Current decline from peak	-0.74%	-0.29%	-0.45%
Average Drawdown Average peak-to-trough decline	-6.32%	-0.02%	-6.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	0.04%	+2.07%

Volatility

LCTU vs. PULT - Volatility Comparison

BlackRock U.S. Carbon Transition Readiness ETF (LCTU) has a higher volatility of 3.04% compared to Putnam ESG Ultra Short ETF (PULT) at 0.52%. This indicates that LCTU's price experiences larger fluctuations and is considered to be riskier than PULT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCTU	PULT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	0.52%	+2.52%
Volatility (6M) Calculated over the trailing 6-month period	9.36%	0.62%	+8.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	0.75%	+11.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.15%	0.63%	+16.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.02%	0.63%	+16.39%

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 0.93%, less than PULT's 4.65% yield.

Position	TTM	2025	2024	2023	2022	2021
LCTU BlackRock U.S. Carbon Transition Readiness ETF	0.93%	1.02%	1.27%	1.46%	1.63%	2.20%
PULT Putnam ESG Ultra Short ETF	4.65%	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 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCTU or PULT?

LCTU has higher volatility (3.04%) compared to PULT (0.52%). In terms of maximum drawdown, LCTU dropped -25.93% vs PULT's -0.34%.

Which ETF is better, LCTU or PULT?

On 3-year performance, LCTU leads with 21.17% vs 5.35% for PULT. On fees, LCTU is cheaper at 0.15% per year. On volatility, PULT has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCTU or PULT?

Over the 3-year period, LCTU has performed better with a 21.17% return vs 5.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 4.65%, compared with 0.93% 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.

Which has better risk-adjusted returns?

PULT currently has the higher Sharpe Ratio (5.71 vs 2.10), 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.