Data as of Oct 28, 2026.
BIL vs PULS: Differences, Returns & Fees
BIL's duration was 0.2 years on Jun 30, 2026 and PULS's 0.7 on May 29, 2026; BIL charges 0.14% to PULS's 0.15%.
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Net assets on Oct 27, 2026: $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF and $19.8bn for PGIM Ultra Short Bond ETF.
Pair scorecard
BIL costs 0.01 points a year less; their one-year returns differ by 0.3 points; BIL is 2.5 times larger.
| Measure | BIL | PULS |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | +4.0% |
| Benchmark | ||
| What it tracks | Bloomberg 1-3 Month U.S. Treasury Bill Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.14% | 0.15% |
| Net assets, as of Oct 27, 2026 | $48.7bn | $19.8bn |
| Holdings | ||
| Holdings in common | report dates differ | |
Holdings in common uses holdings dated May 29, 2026 and Jun 30, 2026. Method
Risk and return
Apr 20, 2018 to Oct 23, 2026 · 444 weekly returnsPULS returned more: +32.2% to +24.4%. BIL swung less: 0.3% to 1.9%. BIL fell less at its worst: −0.2% to −5.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BIL | PULS | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +24.4% | +32.2% | PULS | Price change plus distributions, reinvested. |
| Annualized | +2.6% | +3.3% | PULS | Total return as a yearly rate. |
| Price return | +0.1% | −0.9% | BIL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.3% | 1.9% | BIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.2% | 1.6% | BIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −0.2% | −5.9% | BIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.75 | 0.27 | PULS | Return above Treasury bills per unit of volatility. |
| Sortino | −0.96 | 0.32 | PULS | Return above Treasury bills per unit of downside deviation. |
| Calmar | 13.19 | 0.57 | BIL | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 444 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
BIL and PULS on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BIL and PULS are built for the same job. How do they differ in cost, holdings and results?
- What each follows. BIL follows Bloomberg 1-3 Month U.S. Treasury Bill Index and PULS follows No index, actively managed.
- Number of holdings. BIL holds 26 positions and PULS holds 553.
- One-year total return (similar). Over 1 year to Oct 28, 2026 BIL returned +3.7% and PULS +4.0% with distributions reinvested, a gap of 0.3 points.
Data as of Oct 28, 2026.
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BIL
BIL tracks an index of 1-3 month T-bills. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.14% a year.
PULS
PULS is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +4.0% with distributions reinvested. The prospectus expense ratio is 0.15% a year.
Questions people ask
- Which returned more over the last year, BIL or PULS?
- In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and PULS +4.0%.
- Which is cheaper, BIL or PULS?
- BIL is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, BIL against PULS, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-puls
ETFIQ. (Oct 28, 2026). BIL against PULS. Retrieved from https://etfiq.com/compare/any/bil-vs-puls
[BIL against PULS (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bil-vs-puls)
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