PULS vs. VGSH
PULS (PGIM Ultra Short Bond ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - PULS is a Ultrashort Bond fund actively managed by PGIM, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. PULS is actively managed, while VGSH is passively managed. Over the past 5 years, PULS returned 4.24%/yr vs 1.87%/yr for VGSH. Their 0.33 correlation means their historical movements had little consistent relationship. PULS charges 0.15%/yr vs 0.03%/yr for VGSH.
Performance
PULS vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, PULS achieves a 2.36% return, which is significantly higher than VGSH's 0.77% 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%
VGSH
- 1D
- -0.05%
- 1M
- 0.14%
- 6M
- 0.55%
- YTD
- 0.77%
- 1Y
- 3.09%
- 3Y*
- 4.29%
- 5Y*
- 1.87%
- 10Y*
- 1.73%
- ALL TIME*
- 1.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $149.74M | $124.03M | $127.61M | |
| $133.56M | $160.92M | $191.51M |
PULS vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 2.36% | 4.97% | 6.12% | 6.26% | 1.52% | 0.48% | 1.47% | 2.97% | 1.71% |
VGSH Vanguard Short-Term Treasury ETF | 0.77% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.72% |
Correlation
The correlation between PULS and VGSH is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.33 |
The correlation between PULS and VGSH shifts across timeframes, from 0.33 (all time) to 0.48 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PULS vs. VGSH — Risk / Return Rank
PULS
VGSH
PULS vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Ultra Short Bond ETF (PULS) and Vanguard Short-Term Treasury ETF (VGSH). 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 | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.15 | ||
| Sortino ratioReturn per unit of downside risk | +22.95 | ||
| Omega ratioGain probability vs. loss probability | 6.25 | 1.49 | +4.76 |
| Calmar ratioReturn relative to maximum drawdown | 50.21 | 3.51 | +46.71 |
| Martin ratioReturn relative to average drawdown | 283.67 | 13.46 | +270.20 |
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Drawdowns
PULS vs. VGSH - Drawdown Comparison
The maximum PULS drawdown since its inception was -5.85%, roughly equal to the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for PULS and VGSH.
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Drawdown Indicators
| PULS | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.85% | -5.70% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -0.88% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -0.34% | -0.97% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -5.66% | +4.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.05% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.59% | +0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.23% | -0.21% |
Volatility
PULS vs. VGSH - Volatility Comparison
The current volatility for PGIM Ultra Short Bond ETF (PULS) is 0.10%, while Vanguard Short-Term Treasury ETF (VGSH) has a volatility of 0.36%. This indicates that PULS experiences smaller price fluctuations and is considered to be less risky than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PULS | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.36% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.32% | 1.01% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.43% | 1.32% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.70% | 1.98% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.32% | 1.58% | -0.26% |
PULS vs. VGSH - Expense Ratio Comparison
PULS has a 0.15% expense ratio, which is higher than VGSH's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PULS vs. VGSH - Dividend Comparison
PULS's dividend yield for the trailing twelve months is around 4.87%, more than VGSH's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 4.87% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.85% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Frequently Asked Questions
PULS and VGSH have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGSH has higher volatility (0.36%) compared to PULS (0.10%). In terms of maximum drawdown, PULS dropped -5.85% vs VGSH's -5.70%.
On 5-year performance, PULS leads with 4.24% vs 1.87% for VGSH. On fees, VGSH is cheaper at 0.03% 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 5-year period, PULS has performed better with a 4.24% return vs 1.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.15% for PULS.
PULS has the higher dividend yield at 4.87%, compared with 3.85% for VGSH.
PULS is categorized as Ultrashort Bond, while VGSH is Government Bonds. They also come from different issuers: PGIM and Vanguard. Their fees differ too: 0.15% for PULS and 0.03% for VGSH.
PULS currently has the higher Sharpe Ratio (10.51 vs 2.35), 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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