UYLD vs. PULS

Last updated Apr 1, 2026

Compare and contrast key facts about Angel Oak Ultrashort Income ETF (UYLD) and PGIM Ultra Short Bond ETF (PULS).

UYLD and PULS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UYLD is an actively managed fund by Angel Oak. It was launched on Oct 24, 2022. PULS is an actively managed fund by PGIM. It was launched on Apr 5, 2018.

Performance

UYLD vs. PULS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Ultrashort Income ETF (UYLD) and PGIM Ultra Short Bond ETF (PULS). The values are adjusted to include any dividend payments, if applicable.

UYLD vs. PULS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UYLD Angel Oak Ultrashort Income ETF	0.87%	5.36%	6.10%	6.90%	1.12%
PULS PGIM Ultra Short Bond ETF	0.89%	4.97%	6.12%	6.26%	1.08%

Returns By Period

The year-to-date returns for both investments are quite close, with UYLD having a 0.87% return and PULS slightly higher at 0.89%.

UYLD

• 1D: 0.07%
• 1M: 0.10%
• YTD: 0.87%
• 6M: 2.10%
• 1Y: 4.90%
• 3Y*: 5.82%
• 5Y*: —
• 10Y*: —

PULS

• 1D: 0.04%
• 1M: 0.09%
• YTD: 0.89%
• 6M: 2.04%
• 1Y: 4.71%
• 3Y*: 5.67%
• 5Y*: 3.98%
• 10Y*: —

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

UYLD vs. PULS - Expense Ratio Comparison

UYLD has a 0.29% expense ratio, which is higher than PULS's 0.15% expense ratio.

UYLD

Angel Oak Ultrashort Income ETF

PULS

PGIM Ultra Short Bond ETF

Return for Risk

UYLD vs. PULS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UYLD

UYLD Risk / Return Rank: 99
UYLD Sharpe Ratio Rank: 99
UYLD Sortino Ratio Rank: 99
UYLD Omega Ratio Rank: 99
UYLD Calmar Ratio Rank: 99
UYLD Martin Ratio Rank: 99

PULS

PULS Risk / Return Rank: 99
PULS Sharpe Ratio Rank: 99
PULS Sortino Ratio Rank: 99
PULS Omega Ratio Rank: 99
PULS Calmar Ratio Rank: 99
PULS Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UYLD vs. PULS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Ultrashort Income ETF (UYLD) 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.

	UYLD	PULS	Difference
Sharpe ratio Return per unit of total volatility	7.82	9.19	-1.38
Sortino ratio Return per unit of downside risk	16.14	18.25	-2.11
Omega ratio Gain probability vs. loss probability	3.57	5.27	-1.69
Calmar ratio Return relative to maximum drawdown	26.19	13.80	+12.39
Martin ratio Return relative to average drawdown	156.31	95.35	+60.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UYLD vs. PULS - Sharpe Ratio Comparison

The current UYLD Sharpe Ratio is 7.82, which is comparable to the PULS Sharpe Ratio of 9.19. The chart below compares the historical Sharpe Ratios of UYLD and PULS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UYLD	PULS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.82	9.19	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	5.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.97	2.46	+3.51

Correlation

The correlation between UYLD and PULS is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UYLD vs. PULS - Dividend Comparison

UYLD's dividend yield for the trailing twelve months is around 4.90%, less than PULS's 5.09% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
UYLD Angel Oak Ultrashort Income ETF	4.90%	5.07%	4.97%	5.92%	0.75%	0.00%	0.00%	0.00%	0.00%
PULS PGIM Ultra Short Bond ETF	5.09%	4.78%	5.62%	5.48%	2.30%	1.19%	1.85%	2.69%	1.87%

Drawdowns

UYLD vs. PULS - Drawdown Comparison

The maximum UYLD drawdown since its inception was -0.54%, smaller than the maximum PULS drawdown of -5.85%. Use the drawdown chart below to compare losses from any high point for UYLD and PULS.

Drawdown Indicators

	UYLD	PULS	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-5.85%	+5.31%
Max Drawdown (1Y) Largest decline over 1 year	-0.19%	-0.34%	+0.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.79%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.09%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.05%	-0.02%

Volatility

UYLD vs. PULS - Volatility Comparison

Angel Oak Ultrashort Income ETF (UYLD) has a higher volatility of 0.19% compared to PGIM Ultra Short Bond ETF (PULS) at 0.15%. This indicates that UYLD'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.

Volatility by Period

	UYLD	PULS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	0.15%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.38%	0.28%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	0.63%	0.51%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.00%	0.70%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.00%	1.34%	-0.34%