PULS vs. JPSE
PULS (PGIM Ultra Short Bond ETF) and JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) are both exchange-traded funds - PULS is a Ultrashort Bond fund actively managed by PGIM, while JPSE is a Small Cap Growth Equities fund tracking the JPMorgan Diversified Factor US Small Cap Equity Index. PULS is actively managed, while JPSE is passively managed. Over the past 5 years, PULS returned 4.16%/yr vs 7.84%/yr for JPSE. At a 0.08 correlation, their price movements are largely independent. PULS charges 0.15%/yr vs 0.29%/yr for JPSE.
Performance
PULS vs. JPSE - Performance Comparison
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Returns By Period
In the year-to-date period, PULS achieves a 1.90% return, which is significantly lower than JPSE's 18.86% return.
PULS
- 1D
- 0.00%
- 1M
- 0.26%
- YTD
- 1.90%
- 6M
- 2.03%
- 1Y
- 4.59%
- 3Y*
- 5.51%
- 5Y*
- 4.16%
- 10Y*
- —
JPSE
- 1D
- 0.34%
- 1M
- 3.24%
- YTD
- 18.86%
- 6M
- 16.31%
- 1Y
- 35.69%
- 3Y*
- 16.60%
- 5Y*
- 7.84%
- 10Y*
- —
PULS vs. JPSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 1.90% | 4.97% | 6.12% | 6.26% | 1.52% | 0.48% | 1.47% | 2.97% | 1.71% |
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% |
Correlation
The correlation between PULS and JPSE 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, PULS and JPSE have become more correlated (0.30) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
PULS vs. JPSE — Risk / Return Rank
PULS
JPSE
PULS vs. JPSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Ultra Short Bond ETF (PULS) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE). 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.
| PULS | JPSE | 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 | 6.78 | 1.38 | +5.40 |
| Calmar ratioReturn relative to maximum drawdown | 51.29 | 4.48 | +46.81 |
| Martin ratioReturn relative to average drawdown | 293.54 | 15.97 | +277.56 |
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Drawdowns
PULS vs. JPSE - Drawdown Comparison
The maximum PULS drawdown since its inception was -5.85%, smaller than the maximum JPSE drawdown of -43.02%. Use the drawdown chart below to compare losses from any high point for PULS and JPSE.
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Drawdown Indicators
| PULS | JPSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.85% | -43.02% | +37.17% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -8.00% | +7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -0.34% | -25.49% | +25.15% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -25.56% | +24.77% |
Current DrawdownCurrent decline from peak | 0.00% | -0.09% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -7.39% | +7.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 2.24% | -2.22% |
Volatility
PULS vs. JPSE - Volatility Comparison
The current volatility for PGIM Ultra Short Bond ETF (PULS) is 0.15%, while JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) has a volatility of 4.74%. This indicates that PULS experiences smaller price fluctuations and is considered to be less risky than JPSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PULS | JPSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 4.74% | -4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.32% | 11.20% | -10.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.43% | 16.23% | -15.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.70% | 20.08% | -19.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.33% | 21.79% | -20.46% |
PULS vs. JPSE - Expense Ratio Comparison
PULS has a 0.15% expense ratio, which is lower than JPSE's 0.29% expense ratio.
Dividends
PULS vs. JPSE - Dividend Comparison
PULS's dividend yield for the trailing twelve months is around 4.57%, more than JPSE's 1.34% 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
PULS and JPSE 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, PULS dropped -5.85% vs JPSE's -43.02%.
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.
PULS is categorized as Ultrashort Bond, while JPSE is Small Cap Growth Equities. They also come from different issuers: PGIM and JPMorgan. Their fees differ too: 0.15% for PULS and 0.29% for JPSE.
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.
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