NUSB vs. PULT

Last updated Aug 4, 2026

NUSB (Nuveen Ultra Short Income ETF) and PULT (Putnam ESG Ultra Short ETF) are both Ultrashort Bond funds. Both are actively managed. Their 0.22 correlation means their historical movements had little consistent relationship. NUSB charges 0.17%/yr vs 0.25%/yr for PULT.

Performance

NUSB vs. PULT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Ultra Short Income ETF (NUSB) and Putnam ESG Ultra Short ETF (PULT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NUSB

• 1D: -0.01%
• 1M: 0.31%
• 6M: 1.73%
• YTD: 2.14%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.72%

PULT

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NUSB Nuveen Ultra Short Income ETF	$8.47K	$13.91K	$14.38K

NUSB vs. PULT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NUSB Nuveen Ultra Short Income ETF	2.14%	4.71%	4.48%
PULT Putnam ESG Ultra Short ETF	1.23%	5.08%	4.93%

Correlation

The correlation between NUSB and PULT is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.22

Return for Risk

NUSB vs. PULT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NUSB

NUSB Risk / Return Rank: 100
NUSB Sharpe Ratio Rank: 100
NUSB Sortino Ratio Rank: 100
NUSB Omega Ratio Rank: 100
NUSB Calmar Ratio Rank: 100
NUSB Martin Ratio Rank: 100

PULT

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NUSB vs. PULT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Ultra Short Income ETF (NUSB) 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.

	NUSB	PULT	Difference
Sharpe ratio: Return per unit of total volatility	13.03	—	—
Sortino ratio: Return per unit of downside risk	35.52	—	—
Omega ratio: Gain probability vs. loss probability	9.88	—	—
Calmar ratio: Return relative to maximum drawdown	68.69	—	—
Martin ratio: Return relative to average drawdown	453.33	—	—

Drawdowns

Drawdown Indicators

	NUSB	PULT	Difference
Max Drawdown Largest peak-to-trough decline	-0.16%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	—	—
Current Drawdown Current decline from peak	-0.01%	—	—
Average Drawdown Average peak-to-trough decline	0.00%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	—	—

Volatility

Volatility by Period

	NUSB	PULT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.31%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.38%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.38%	—	—

NUSB vs. PULT - Expense Ratio Comparison

NUSB has a 0.17% 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

NUSB vs. PULT - Dividend Comparison

NUSB's dividend yield for the trailing twelve months is around 4.26%, while PULT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
NUSB Nuveen Ultra Short Income ETF	4.26%	4.51%	3.61%	0.00%
PULT Putnam ESG Ultra Short ETF	3.89%	4.59%	5.38%	4.88%

Frequently Asked Questions

Can I hold both NUSB and PULT in my portfolio?

NUSB and PULT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NUSB or PULT?

On fees, NUSB is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NUSB or PULT?

NUSB is cheaper with a 0.17% expense ratio, compared with 0.25% for PULT.

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

NUSB has the higher dividend yield at 4.26%, compared with 3.89% for PULT.

What is the main difference between NUSB and PULT?

They also come from different issuers: Nuveen and Putnam. Their fees differ too: 0.17% for NUSB and 0.25% for PULT.