PULS vs. USDX
PULS (PGIM Ultra Short Bond ETF) and USDX (SGI Enhanced Core ETF) are both exchange-traded funds - PULS is a Ultrashort Bond fund actively managed by PGIM, while USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments. Both are actively managed. Over the past year, PULS returned 4.49% vs 6.43% for USDX. Their 0.02 correlation means their historical movements had little consistent relationship. PULS charges 0.15%/yr vs 0.98%/yr for USDX.
Performance
PULS vs. USDX - Performance Comparison
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Returns By Period
In the year-to-date period, PULS achieves a 2.36% return, which is significantly lower than USDX's 2.99% return.
PULS
- 1D
- 0.04%
- 1M
- 0.33%
- 6M
- 1.93%
- YTD
- 2.36%
- 1Y
- 4.49%
- 3Y*
- 5.44%
- 5Y*
- 4.24%
- 10Y*
- —
- ALL TIME*
- 3.34%
USDX
- 1D
- 0.12%
- 1M
- 0.65%
- 6M
- 2.97%
- YTD
- 2.99%
- 1Y
- 6.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $149.74M | $124.03M | $127.61M | |
| $1.08M | $1.35M | $1.41M |
PULS vs. USDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 2.36% | 4.97% | 5.03% |
USDX SGI Enhanced Core ETF | 2.99% | 6.25% | 6.87% |
Correlation
The correlation between PULS and USDX is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | 0.02 |
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Return for Risk
PULS vs. USDX — Risk / Return Rank
PULS
USDX
PULS vs. USDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Ultra Short Bond ETF (PULS) and SGI Enhanced Core ETF (USDX). 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 | USDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.42 | ||
| Sortino ratioReturn per unit of downside risk | +21.79 | ||
| Omega ratioGain probability vs. loss probability | 6.25 | 1.75 | +4.50 |
| Calmar ratioReturn relative to maximum drawdown | 50.21 | 6.89 | +43.32 |
| Martin ratioReturn relative to average drawdown | 283.67 | 42.76 | +240.91 |
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Drawdowns
PULS vs. USDX - Drawdown Comparison
The maximum PULS drawdown since its inception was -5.85%, which is greater than USDX's maximum drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for PULS and USDX.
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Drawdown Indicators
| PULS | USDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.85% | -0.94% | -4.91% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -0.94% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -0.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.07% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.15% | -0.13% |
Volatility
PULS vs. USDX - Volatility Comparison
The current volatility for PGIM Ultra Short Bond ETF (PULS) is 0.10%, while SGI Enhanced Core ETF (USDX) has a volatility of 0.58%. This indicates that PULS experiences smaller price fluctuations and is considered to be less risky than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PULS | USDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.58% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 0.32% | 1.67% | -1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.43% | 2.10% | -1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.70% | 1.76% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.32% | 1.76% | -0.44% |
PULS vs. USDX - Expense Ratio Comparison
PULS has a 0.15% expense ratio, which is lower than USDX's 0.98% expense ratio.
Dividends
PULS vs. USDX - Dividend Comparison
PULS's dividend yield for the trailing twelve months is around 4.87%, less than USDX's 6.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 4.87% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% |
USDX SGI Enhanced Core ETF | 6.66% | 5.88% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PULS and USDX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USDX has higher volatility (0.58%) compared to PULS (0.10%). In terms of maximum drawdown, PULS dropped -5.85% vs USDX's -0.94%.
On 1-year performance, USDX leads with 6.43% vs 4.49% for PULS. On fees, PULS is cheaper at 0.15% per year. On volatility, PULS has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USDX has performed better with a 6.43% return vs 4.49%. 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 0.98% for USDX.
USDX has the higher dividend yield at 6.66%, compared with 4.87% for PULS.
PULS is categorized as Ultrashort Bond, while USDX is Intermediate Core Bond. They also come from different issuers: PGIM and Summit Global Investments. Their fees differ too: 0.15% for PULS and 0.98% for USDX.
PULS currently has the higher Sharpe Ratio (10.51 vs 3.08), 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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