PULT vs. SPTU

Last updated Jul 17, 2026

PULT (Putnam ESG Ultra Short ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. PULT is actively managed, while SPTU is passively managed. At a 0.14 correlation, their price movements are largely independent. PULT charges 0.25%/yr vs 0.05%/yr for SPTU.

Performance

PULT vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam ESG Ultra Short ETF (PULT) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PULT

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

SPTU

• 1D: 0.00%
• 1M: 0.30%
• 6M: 1.78%
• YTD: 1.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PULT vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
PULT Putnam ESG Ultra Short ETF	1.23%	1.05%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.90%	0.87%

Correlation

The correlation between PULT and SPTU is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.14

Return for Risk

PULT vs. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam ESG Ultra Short ETF (PULT) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

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

Drawdowns

Drawdown Indicators

	PULT	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.04%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.00%	—

Volatility

Volatility by Period

	PULT	SPTU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	0.32%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.32%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.32%	—

PULT vs. SPTU - Expense Ratio Comparison

PULT has a 0.25% expense ratio, which is higher than SPTU's 0.05% 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

PULT vs. SPTU - Dividend Comparison

PULT has not paid dividends to shareholders, while SPTU's dividend yield for the trailing twelve months is around 2.66%.

Position	TTM	2025	2024	2023
PULT Putnam ESG Ultra Short ETF	3.89%	4.59%	5.38%	4.88%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.66%	0.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PULT and SPTU in my portfolio?

PULT and SPTU 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, PULT or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PULT or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.25% for PULT.

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

PULT has the higher dividend yield at 3.89%, compared with 2.66% for SPTU.

What is the main difference between PULT and SPTU?

They also come from different issuers: Putnam and State Street. Their fees differ too: 0.25% for PULT and 0.05% for SPTU.