USFR vs. PULS
USFR (WisdomTree Floating Rate Treasury Fund) and PULS (PGIM Ultra Short Bond ETF) are both exchange-traded funds - USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index, while PULS is a Ultrashort Bond fund actively managed by PGIM. USFR is passively managed, while PULS is actively managed. Over the past 5 years, USFR returned 3.66%/yr vs 4.12%/yr for PULS. At a 0.11 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
USFR vs. PULS - Performance Comparison
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Returns By Period
In the year-to-date period, USFR achieves a 1.60% return, which is significantly lower than PULS's 1.73% return.
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
PULS
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.73%
- 6M
- 2.09%
- 1Y
- 4.70%
- 3Y*
- 5.61%
- 5Y*
- 4.12%
- 10Y*
- —
USFR vs. PULS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 1.26% |
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 USFR and PULS is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2018 | 0.11 |
The correlation between USFR and PULS shifts across timeframes, from 0.11 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
USFR vs. PULS — Risk / Return Rank
USFR
PULS
USFR vs. PULS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) 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.
| USFR | PULS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.70 | ||
| Sortino ratioReturn per unit of downside risk | +17.73 | ||
| Omega ratioGain probability vs. loss probability | 13.43 | 7.59 | +5.84 |
| Calmar ratioReturn relative to maximum drawdown | 203.42 | 52.47 | +150.95 |
| Martin ratioReturn relative to average drawdown | 787.84 | 318.56 | +469.28 |
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
| USFR | PULS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.11 | 11.41 | +3.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 9.26 | 5.92 | +3.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 3.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.60 | 2.51 | -0.91 |
Drawdowns
USFR vs. PULS - Drawdown Comparison
The maximum USFR drawdown since its inception was -1.36%, smaller than the maximum PULS drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for USFR and PULS.
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Drawdown Indicators
| USFR | PULS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.36% | -5.85% | +4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.09% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -0.34% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -0.18% | -0.79% | +0.61% |
Max Drawdown (10Y)Largest decline over 10 years | -0.80% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.09% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.01% | 0.00% |
Volatility
USFR vs. PULS - Volatility Comparison
The current volatility for WisdomTree Floating Rate Treasury Fund (USFR) is 0.06%, while PGIM Ultra Short Bond ETF (PULS) has a volatility of 0.11%. This indicates that USFR experiences smaller price fluctuations and is considered to be less risky 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
| USFR | PULS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 0.11% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 0.30% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 0.41% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.40% | 0.70% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.81% | 1.33% | -0.52% |
USFR vs. PULS - Expense Ratio Comparison
Both USFR and PULS have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
USFR vs. PULS - Dividend Comparison
USFR's dividend yield for the trailing twelve months is around 3.91%, less than PULS's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PULS PGIM Ultra Short Bond ETF | 4.58% | 4.78% | 5.62% | 5.48% | 2.30% | 1.19% | 1.85% | 2.69% | 1.87% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
USFR and PULS have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PULS has higher volatility (0.11%) compared to USFR (0.06%). In terms of maximum drawdown, USFR dropped -1.36% vs PULS's -5.85%.
On 5-year performance, PULS leads with 4.12% vs 3.66% for USFR. Both ETFs have the same 0.15% expense ratio. Their volatility is very similar. 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 4.12% return vs 3.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR and PULS have the same expense ratio: 0.15% per year.
PULS has the higher dividend yield at 4.58%, compared with 3.91% for USFR.
USFR is categorized as Government Bonds, while PULS is Ultrashort Bond. They also come from different issuers: WisdomTree and PGIM.
USFR currently has the higher Sharpe Ratio (15.11 vs 11.41), 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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