STIP vs. PULS
STIP (iShares 0-5 Year TIPS Bond ETF) and PULS (PGIM Ultra Short Bond ETF) are both exchange-traded funds - STIP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), while PULS is a Ultrashort Bond fund actively managed by PGIM. STIP is passively managed, while PULS is actively managed. Over the past 5 years, STIP returned 3.38%/yr vs 4.14%/yr for PULS. At a 0.26 correlation, their price movements are largely independent. STIP charges 0.06%/yr vs 0.15%/yr for PULS.
Performance
STIP vs. PULS - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with STIP having a 1.87% return and PULS slightly higher at 1.88%.
STIP
- 1D
- -0.02%
- 1M
- -0.09%
- YTD
- 1.87%
- 6M
- 1.97%
- 1Y
- 4.54%
- 3Y*
- 5.26%
- 5Y*
- 3.38%
- 10Y*
- 3.14%
PULS
- 1D
- 0.04%
- 1M
- 0.38%
- YTD
- 1.88%
- 6M
- 2.10%
- 1Y
- 4.67%
- 3Y*
- 5.59%
- 5Y*
- 4.14%
- 10Y*
- —
STIP vs. PULS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 1.87% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 5.18% | 4.89% | 0.24% |
PULS PGIM Ultra Short Bond ETF | 1.88% | 4.97% | 6.12% | 6.26% | 1.52% | 0.48% | 1.47% | 2.97% | 1.71% |
Correlation
The correlation between STIP and PULS is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.26 |
The correlation between STIP and PULS shifts across timeframes, from 0.26 (all time) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
STIP vs. PULS — Risk / Return Rank
STIP
PULS
STIP vs. PULS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond ETF (STIP) 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.
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.
| STIP | PULS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.24 | ||
| Sortino ratioReturn per unit of downside risk | -27.44 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 7.59 | -5.91 |
| Calmar ratioReturn relative to maximum drawdown | 6.63 | 52.47 | -45.84 |
| Martin ratioReturn relative to average drawdown | 25.91 | 317.38 | -291.47 |
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Drawdowns
STIP vs. PULS - Drawdown Comparison
The maximum STIP drawdown since its inception was -5.50%, smaller than the maximum PULS drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for STIP and PULS.
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Drawdown Indicators
| STIP | PULS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.50% | -5.85% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -0.09% | -0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -0.34% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -5.50% | -0.79% | -4.71% |
Max Drawdown (10Y)Largest decline over 10 years | -5.50% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -0.09% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.01% | +0.17% |
Volatility
STIP vs. PULS - Volatility Comparison
iShares 0-5 Year TIPS Bond ETF (STIP) has a higher volatility of 0.41% compared to PGIM Ultra Short Bond ETF (PULS) at 0.11%. This indicates that STIP'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
| STIP | PULS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.11% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 1.01% | 0.30% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.45% | 0.41% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.74% | 0.70% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 1.33% | +1.12% |
STIP vs. PULS - Expense Ratio Comparison
STIP has a 0.06% expense ratio, which is lower than PULS's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
STIP vs. PULS - Dividend Comparison
STIP's dividend yield for the trailing twelve months is around 4.31%, less than PULS's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 4.57% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% | 0.00% | 0.00% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.31% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
STIP and PULS have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STIP has higher volatility (0.41%) compared to PULS (0.11%). In terms of maximum drawdown, STIP dropped -5.50% vs PULS's -5.85%.
On 5-year performance, PULS leads with 4.14% vs 3.38% for STIP. On fees, STIP is cheaper at 0.06% 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, PULS has performed better with a 4.14% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.15% for PULS.
PULS has the higher dividend yield at 4.57%, compared with 4.31% for STIP.
STIP is categorized as Inflation-Protected Bonds, while PULS is Ultrashort Bond. They also come from different issuers: iShares and PGIM. Their fees differ too: 0.06% for STIP and 0.15% for PULS.
PULS currently has the higher Sharpe Ratio (11.41 vs 3.17), 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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