LVHI vs. PULS

Last updated Jun 14, 2026

LVHI (Franklin International Low Volatility High Dividend Index ETF) and PULS (PGIM Ultra Short Bond ETF) are both exchange-traded funds - LVHI is a Volatility Hedged Equity fund tracking the Franklin International Low Volatility High Dividend Hedged Index-NR, while PULS is a Ultrashort Bond fund actively managed by PGIM. LVHI is passively managed, while PULS is actively managed. Over the past 5 years, LVHI returned 15.97%/yr vs 4.14%/yr for PULS. At a 0.10 correlation, their price movements are largely independent. LVHI charges 0.40%/yr vs 0.15%/yr for PULS.

Performance

LVHI vs. PULS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin International Low Volatility High Dividend Index ETF (LVHI) and PGIM Ultra Short Bond ETF (PULS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVHI achieves a 13.78% return, which is significantly higher than PULS's 1.88% return.

LVHI

• 1D: 0.49%
• 1M: 0.84%
• YTD: 13.78%
• 6M: 14.96%
• 1Y: 32.13%
• 3Y*: 21.52%
• 5Y*: 15.97%
• 10Y*: —

PULS

• 1D: 0.04%
• 1M: 0.38%
• YTD: 1.88%
• 6M: 2.10%
• 1Y: 4.67%
• 3Y*: 5.59%
• 5Y*: 4.14%
• 10Y*: —

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

LVHI vs. PULS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LVHI Franklin International Low Volatility High Dividend Index ETF	13.78%	27.12%	14.81%	17.45%	3.84%	18.19%	-8.76%	18.35%	-1.76%
PULS PGIM Ultra Short Bond ETF	1.88%	4.97%	6.12%	6.26%	1.52%	0.48%	1.47%	2.97%	1.71%

Correlation

The correlation between LVHI and PULS is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018	0.10

Return for Risk

LVHI vs. PULS — Risk / Return Rank

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

LVHI

LVHI Risk / Return Rank: 94
LVHI Sharpe Ratio Rank: 95
LVHI Sortino Ratio Rank: 95
LVHI Omega Ratio Rank: 94
LVHI Calmar Ratio Rank: 92
LVHI Martin Ratio Rank: 93

PULS

PULS Risk / Return Rank: 99
PULS Sharpe Ratio Rank: 100
PULS Sortino Ratio Rank: 99
PULS Omega Ratio Rank: 99
PULS Calmar Ratio Rank: 99
PULS 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.

LVHI vs. PULS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin International Low Volatility High Dividend Index ETF (LVHI) 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.

	LVHI	PULS	Difference
Sharpe ratio: Return per unit of total volatility	3.31	11.41	-8.10
Sortino ratio: Return per unit of downside risk	4.54	32.91	-28.37
Omega ratio: Gain probability vs. loss probability	1.63	7.59	-5.96
Calmar ratio: Return relative to maximum drawdown	5.23	52.47	-47.24
Martin ratio: Return relative to average drawdown	21.61	317.38	-295.77

LVHI vs. PULS - Sharpe Ratio Comparison

The current LVHI Sharpe Ratio is 3.31, which is lower than the PULS Sharpe Ratio of 11.41. The chart below compares the historical Sharpe Ratios of LVHI and PULS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LVHI vs. PULS - Drawdown Comparison

The maximum LVHI drawdown since its inception was -32.31%, which is greater than PULS's maximum drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for LVHI and PULS.

Drawdown Indicators

	LVHI	PULS	Difference
Max Drawdown Largest peak-to-trough decline	-32.31%	-5.85%	-26.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	-0.09%	-5.99%
Max Drawdown (3Y) Largest decline over 3 years	-11.99%	-0.34%	-11.65%
Max Drawdown (5Y) Largest decline over 5 years	-11.99%	-0.79%	-11.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.51%	-0.09%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	0.01%	+1.47%

Volatility

LVHI vs. PULS - Volatility Comparison

Franklin International Low Volatility High Dividend Index ETF (LVHI) has a higher volatility of 2.78% compared to PGIM Ultra Short Bond ETF (PULS) at 0.11%. This indicates that LVHI'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.

Volatility by Period

	LVHI	PULS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	0.11%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	0.30%	+7.42%
Volatility (1Y) Calculated over the trailing 1-year period	9.60%	0.41%	+9.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.08%	0.70%	+10.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.75%	1.33%	+12.42%

LVHI vs. PULS - Expense Ratio Comparison

LVHI has a 0.40% expense ratio, which is higher than PULS's 0.15% expense ratio.

Dividends

LVHI vs. PULS - Dividend Comparison

LVHI's dividend yield for the trailing twelve months is around 4.69%, more than PULS's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
LVHI Franklin International Low Volatility High Dividend Index ETF	4.69%	4.92%	3.98%	8.12%	7.74%	4.13%	3.97%	6.67%	10.67%	3.38%	2.02%
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

Can I hold both LVHI and PULS in my portfolio?

LVHI and PULS have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LVHI or PULS?

LVHI has higher volatility (2.78%) compared to PULS (0.11%). In terms of maximum drawdown, LVHI dropped -32.31% vs PULS's -5.85%.

Which ETF is better, LVHI or PULS?

On 5-year performance, LVHI leads with 15.97% vs 4.14% for PULS. On fees, PULS is cheaper at 0.15% per year. On volatility, PULS has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LVHI or PULS?

Over the 5-year period, LVHI has performed better with a 15.97% return vs 4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LVHI or PULS?

PULS is cheaper with a 0.15% expense ratio, compared with 0.40% for LVHI.

Which ETF pays a higher dividend yield, LVHI or PULS?

LVHI has the higher dividend yield at 4.69%, compared with 4.57% for PULS.

What is the main difference between LVHI and PULS?

LVHI is categorized as Volatility Hedged Equity, while PULS is Ultrashort Bond. They also come from different issuers: Franklin Templeton and PGIM. Their fees differ too: 0.40% for LVHI and 0.15% for PULS.

Which has better risk-adjusted returns?

PULS currently has the higher Sharpe Ratio (11.41 vs 3.31), 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.