PUSH vs. PSDM

Last updated Aug 4, 2026

PUSH (PGIM Ultra Short Municipal Bond ETF) and PSDM (PGIM Short Duration Multi-Sector Bond ETF) are both exchange-traded funds - PUSH is a Municipal Bonds fund actively managed by PGIM, while PSDM is a Multisector Bonds fund actively managed by PGIM. Both are actively managed. Over the past year, PUSH returned 3.07% vs 3.97% for PSDM. Their 0.28 correlation means their historical movements had little consistent relationship. PUSH charges 0.15%/yr vs 0.40%/yr for PSDM.

Performance

PUSH vs. PSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Ultra Short Municipal Bond ETF (PUSH) and PGIM Short Duration Multi-Sector Bond ETF (PSDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PUSH having a 1.58% return and PSDM slightly higher at 1.61%.

PUSH

• 1D: 0.02%
• 1M: 0.04%
• 6M: 1.00%
• YTD: 1.58%
• 1Y: 3.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.58%

PSDM

• 1D: 0.13%
• 1M: 0.07%
• 6M: 1.26%
• YTD: 1.61%
• 1Y: 3.97%
• 3Y*: 5.70%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PSDM PGIM Short Duration Multi-Sector Bond ETF	$2.09M	$1.46M	$1.32M
PUSH PGIM Ultra Short Municipal Bond ETF	$1.12M	$1.04M	$958.85K

PUSH vs. PSDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PUSH PGIM Ultra Short Municipal Bond ETF	1.58%	4.16%	1.74%
PSDM PGIM Short Duration Multi-Sector Bond ETF	1.61%	6.16%	3.43%

Correlation

The correlation between PUSH and PSDM is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (All Time) Calculated using the full available price history since Jun 28, 2024	0.28

Return for Risk

PUSH vs. PSDM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PUSH

PUSH Risk / Return Rank: 90
PUSH Sharpe Ratio Rank: 84
PUSH Sortino Ratio Rank: 87
PUSH Omega Ratio Rank: 95
PUSH Calmar Ratio Rank: 96
PUSH Martin Ratio Rank: 90

PSDM

PSDM Risk / Return Rank: 90
PSDM Sharpe Ratio Rank: 89
PSDM Sortino Ratio Rank: 92
PSDM Omega Ratio Rank: 92
PSDM Calmar Ratio Rank: 85
PSDM Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PUSH vs. PSDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Ultra Short Municipal Bond ETF (PUSH) and PGIM Short Duration Multi-Sector Bond ETF (PSDM). 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.

	PUSH	PSDM	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.27	-0.23
Sortino ratio: Return per unit of downside risk	3.05	3.53	-0.48
Omega ratio: Gain probability vs. loss probability	1.55	1.47	+0.08
Calmar ratio: Return relative to maximum drawdown	6.15	3.35	+2.81
Martin ratio: Return relative to average drawdown	15.15	14.69	+0.47

PUSH vs. PSDM - Sharpe Ratio Comparison

The current PUSH Sharpe Ratio is 2.05, which is comparable to the PSDM Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of PUSH and PSDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PUSH vs. PSDM - Drawdown Comparison

The maximum PUSH drawdown since its inception was -0.85%, smaller than the maximum PSDM drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for PUSH and PSDM.

Drawdown Indicators

	PUSH	PSDM	Difference
Max Drawdown Largest peak-to-trough decline	-0.85%	-1.19%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-0.50%	-1.19%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.19%	—
Current Drawdown Current decline from peak	-0.08%	-0.05%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.10%	-0.17%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	0.27%	-0.07%

Volatility

PUSH vs. PSDM - Volatility Comparison

The current volatility for PGIM Ultra Short Municipal Bond ETF (PUSH) is 0.24%, while PGIM Short Duration Multi-Sector Bond ETF (PSDM) has a volatility of 0.67%. This indicates that PUSH experiences smaller price fluctuations and is considered to be less risky than PSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUSH	PSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.24%	0.67%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	0.62%	1.49%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	1.51%	1.75%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.27%	2.01%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.27%	2.01%	-0.74%

PUSH vs. PSDM - Expense Ratio Comparison

PUSH has a 0.15% expense ratio, which is lower than PSDM's 0.40% expense ratio.

Dividends

PUSH vs. PSDM - Dividend Comparison

PUSH's dividend yield for the trailing twelve months is around 3.17%, less than PSDM's 4.81% yield.

Position	TTM	2025	2024	2023
PSDM PGIM Short Duration Multi-Sector Bond ETF	4.81%	4.57%	5.17%	2.91%
PUSH PGIM Ultra Short Municipal Bond ETF	3.17%	3.45%	1.86%	0.00%

Frequently Asked Questions

Can I hold both PUSH and PSDM in my portfolio?

PUSH and PSDM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PUSH or PSDM?

PSDM has higher volatility (0.67%) compared to PUSH (0.24%). In terms of maximum drawdown, PUSH dropped -0.85% vs PSDM's -1.19%.

Which ETF is better, PUSH or PSDM?

On 1-year performance, PSDM leads with 3.97% vs 3.07% for PUSH. On fees, PUSH is cheaper at 0.15% per year. On volatility, PUSH has been the lower-risk option at 0.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PUSH or PSDM?

Over the 1-year period, PSDM has performed better with a 3.97% return vs 3.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PUSH or PSDM?

PUSH is cheaper with a 0.15% expense ratio, compared with 0.40% for PSDM.

Which ETF pays a higher dividend yield, PUSH or PSDM?

PSDM has the higher dividend yield at 4.81%, compared with 3.17% for PUSH.

What is the main difference between PUSH and PSDM?

PUSH is categorized as Municipal Bonds, while PSDM is Multisector Bonds. Their fees differ too: 0.15% for PUSH and 0.40% for PSDM.

Which has better risk-adjusted returns?

PSDM currently has the higher Sharpe Ratio (2.27 vs 2.05), 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.