SIVR vs. PULS
SIVR (abrdn Physical Silver Shares ETF) and PULS (PGIM Ultra Short Bond ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while PULS is a Ultrashort Bond fund actively managed by PGIM. SIVR is passively managed, while PULS is actively managed. Over the past 5 years, SIVR returned 19.25%/yr vs 4.12%/yr for PULS. At a 0.11 correlation, their price movements are largely independent. SIVR charges 0.30%/yr vs 0.15%/yr for PULS.
Performance
SIVR vs. PULS - Performance Comparison
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Returns By Period
In the year-to-date period, SIVR achieves a -4.36% return, which is significantly lower than PULS's 1.73% return.
SIVR
- 1D
- 0.02%
- 1M
- -15.70%
- YTD
- -4.36%
- 6M
- 16.92%
- 1Y
- 88.66%
- 3Y*
- 40.57%
- 5Y*
- 19.25%
- 10Y*
- 14.30%
PULS
- 1D
- 0.00%
- 1M
- 0.26%
- YTD
- 1.73%
- 6M
- 2.05%
- 1Y
- 4.65%
- 3Y*
- 5.58%
- 5Y*
- 4.12%
- 10Y*
- —
SIVR vs. PULS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SIVR abrdn Physical Silver Shares ETF | -4.36% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -6.90% |
PULS PGIM Ultra Short Bond ETF | 1.73% | 4.97% | 6.12% | 6.26% | 1.52% | 0.48% | 1.47% | 2.97% | 1.71% |
Correlation
The correlation between SIVR and PULS is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2018 | 0.11 |
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Return for Risk
SIVR vs. PULS — Risk / Return Rank
SIVR
PULS
SIVR vs. PULS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and PGIM Ultra Short Bond ETF (PULS). 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.
| SIVR | PULS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.81 | ||
| Sortino ratioReturn per unit of downside risk | -30.82 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 7.53 | -6.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 52.00 | -49.89 |
| Martin ratioReturn relative to average drawdown | 4.42 | 314.53 | -310.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SIVR | PULS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 11.31 | -9.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 5.92 | -5.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 2.51 | -2.20 |
Drawdowns
SIVR vs. PULS - Drawdown Comparison
The maximum SIVR drawdown since its inception was -75.85%, which is greater than PULS's maximum drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for SIVR and PULS.
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Drawdown Indicators
| SIVR | PULS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.85% | -5.85% | -70.00% |
Max Drawdown (1Y)Largest decline over 1 year | -42.42% | -0.09% | -42.33% |
Max Drawdown (3Y)Largest decline over 3 years | -42.42% | -0.34% | -42.08% |
Max Drawdown (5Y)Largest decline over 5 years | -42.42% | -0.79% | -41.63% |
Max Drawdown (10Y)Largest decline over 10 years | -42.42% | — | — |
Current DrawdownCurrent decline from peak | -41.65% | -0.02% | -41.63% |
Average DrawdownAverage peak-to-trough decline | -47.85% | -0.09% | -47.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.12% | 0.01% | +20.11% |
Volatility
SIVR vs. PULS - Volatility Comparison
abrdn Physical Silver Shares ETF (SIVR) has a higher volatility of 16.89% compared to PGIM Ultra Short Bond ETF (PULS) at 0.11%. This indicates that SIVR's price experiences larger fluctuations and is considered to be riskier than PULS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIVR | PULS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.89% | 0.11% | +16.78% |
Volatility (6M)Calculated over the trailing 6-month period | 58.88% | 0.30% | +58.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.47% | 0.41% | +59.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.35% | 0.70% | +35.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.96% | 1.33% | +30.63% |
SIVR vs. PULS - Expense Ratio Comparison
SIVR has a 0.30% expense ratio, which is higher than PULS's 0.15% expense ratio.
Dividends
SIVR vs. PULS - Dividend Comparison
SIVR has not paid dividends to shareholders, while PULS's dividend yield for the trailing twelve months is around 4.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 4.58% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% |
SIVR abrdn Physical Silver Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIVR and PULS have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIVR has higher volatility (16.89%) compared to PULS (0.11%). In terms of maximum drawdown, SIVR dropped -75.85% vs PULS's -5.85%.
On 5-year performance, SIVR leads with 19.25% vs 4.12% for PULS. On fees, PULS is cheaper at 0.15% per year. On volatility, PULS has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SIVR has performed better with a 19.25% return vs 4.12%. 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 0.30% for SIVR.
PULS has the higher dividend yield at 4.58%, compared with 0.00% for SIVR.
SIVR is categorized as Silver, while PULS is Ultrashort Bond. They also come from different issuers: abrdn and PGIM. Their fees differ too: 0.30% for SIVR and 0.15% for PULS.
PULS currently has the higher Sharpe Ratio (11.31 vs 1.50), 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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