PULT vs. EMLP
PULT (Putnam ESG Ultra Short ETF) and EMLP (First Trust North American Energy Infrastructure Fund) are both exchange-traded funds - PULT is a Ultrashort Bond fund actively managed by Putnam, while EMLP is a MLPs fund actively managed by First Trust. Both are actively managed. Over the past 3 years, PULT returned 5.32%/yr vs 22.30%/yr for EMLP. At a correlation of -0.00, they often move in opposite directions. PULT charges 0.25%/yr vs 0.96%/yr for EMLP.
Performance
PULT vs. EMLP - Performance Comparison
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Returns By Period
In the year-to-date period, PULT achieves a 1.23% return, which is significantly lower than EMLP's 16.16% return.
PULT
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 1.23%
- 6M
- 1.38%
- 1Y
- 3.98%
- 3Y*
- 5.32%
- 5Y*
- —
- 10Y*
- —
EMLP
- 1D
- 1.23%
- 1M
- -1.97%
- YTD
- 16.16%
- 6M
- 16.10%
- 1Y
- 20.59%
- 3Y*
- 22.30%
- 5Y*
- 15.94%
- 10Y*
- 10.26%
PULT vs. EMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PULT Putnam ESG Ultra Short ETF | 1.23% | 5.08% | 5.93% | 5.47% |
EMLP First Trust North American Energy Infrastructure Fund | 16.16% | 9.67% | 33.39% | 6.46% |
Correlation
The correlation between PULT and EMLP is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | -0.00 |
The correlation between PULT and EMLP shifts across timeframes, from -0.12 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PULT vs. EMLP — Risk / Return Rank
PULT
EMLP
PULT vs. EMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam ESG Ultra Short ETF (PULT) and First Trust North American Energy Infrastructure Fund (EMLP). 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.
| PULT | EMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.38 | ||
| Sortino ratioReturn per unit of downside risk | +6.71 | ||
| Omega ratioGain probability vs. loss probability | 2.96 | 1.35 | +1.61 |
| Calmar ratioReturn relative to maximum drawdown | 9.67 | 4.19 | +5.49 |
| Martin ratioReturn relative to average drawdown | 70.25 | 12.19 | +58.06 |
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Drawdowns
PULT vs. EMLP - Drawdown Comparison
The maximum PULT drawdown since its inception was -0.43%, smaller than the maximum EMLP drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for PULT and EMLP.
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Drawdown Indicators
| PULT | EMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.43% | -43.61% | +43.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -4.94% | +4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -0.43% | -11.47% | +11.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.61% | — |
Current DrawdownCurrent decline from peak | -0.29% | -2.33% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -5.75% | +5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 1.69% | -1.63% |
Volatility
PULT vs. EMLP - Volatility Comparison
The current volatility for Putnam ESG Ultra Short ETF (PULT) is 0.55%, while First Trust North American Energy Infrastructure Fund (EMLP) has a volatility of 3.65%. This indicates that PULT experiences smaller price fluctuations and is considered to be less risky than EMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PULT | EMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 3.65% | -3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.64% | 7.96% | -7.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.77% | 9.97% | -9.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.64% | 14.49% | -13.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.64% | 17.69% | -17.05% |
PULT vs. EMLP - Expense Ratio Comparison
PULT has a 0.25% expense ratio, which is lower than EMLP's 0.96% expense ratio.
Dividends
PULT vs. EMLP - Dividend Comparison
PULT's dividend yield for the trailing twelve months is around 4.25%, more than EMLP's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 2.75% | 3.18% | 3.19% | 3.92% | 3.15% | 3.29% | 4.70% | 3.71% | 4.71% | 3.80% | 3.62% | 4.63% |
PULT Putnam ESG Ultra Short ETF | 4.25% | 4.59% | 5.38% | 4.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PULT and EMLP have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLP has higher volatility (3.65%) compared to PULT (0.55%). In terms of maximum drawdown, PULT dropped -0.43% vs EMLP's -43.61%.
On 3-year performance, EMLP leads with 22.30% vs 5.32% for PULT. On fees, PULT is cheaper at 0.25% per year. On volatility, PULT has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMLP has performed better with a 22.30% return vs 5.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PULT is cheaper with a 0.25% expense ratio, compared with 0.96% for EMLP.
PULT has the higher dividend yield at 4.25%, compared with 2.75% for EMLP.
PULT is categorized as Ultrashort Bond, while EMLP is MLPs. They also come from different issuers: Putnam and First Trust. Their fees differ too: 0.25% for PULT and 0.96% for EMLP.
PULT currently has the higher Sharpe Ratio (5.45 vs 2.08), 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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