Data as of Oct 28, 2026.

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GOVT vs PULS: Differences, Returns & Fees

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GOVT's duration was 5.5 years on Jul 31, 2026 and PULS's 0.7 on May 29, 2026; GOVT charges 0.05% to PULS's 0.15%.

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Net assets on Oct 27, 2026: $42.8bn for iShares U.S. Treasury Bond ETF and $19.8bn for PGIM Ultra Short Bond ETF.

At a glance
−1.5%
GOVT total return, 1 year
+4.0%
PULS total return, 1 year
0.05%
GOVT expense ratio
0.15%
PULS expense ratio

Pair scorecard

GOVT costs 0.10 points a year less; their one-year returns differ by 5.5 points; GOVT is 2.2 times larger.

GOVT vs PULS: Differences, Returns & Fees
MeasureGOVTPULS
Return
Total return, 1 year−1.5%+4.0%
Drawdown
Below its high8.1%, high on Aug 4, 2020
Benchmark
What it tracksICE U.S. Treasury Core Bond IndexNo index, actively managed
Cost and size
Expense ratio0.05%0.15%
Net assets, as of Oct 27, 2026$42.8bn$19.8bn
Holdings
Holdings in common0%

Holdings in common uses holdings dated May 29, 2026 and Jul 31, 2026. Method

What they share

0%

By the books each fund has filed, GOVT and PULS hold 0% of their money in the same securities at the same weight. Holdings dated May 29, 2026 and Jul 31, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GOVT PULS
U.S. Treasury Notes, due Nov 15, 2027 0.42% 0.19%
Only in one fund ↓
Only in GOVT
U.S. Treasury Notes, due Nov 15, 2031 5.28%
U.S. Treasury Notes, due Feb 15, 2029 2.95%
U.S. Treasury Notes, due Feb 15, 2028 2.63%
U.S. Treasury Notes, due Nov 15, 2028 2.08%
U.S. Treasury Notes, due May 15, 2028 1.62%
U.S. Treasury Bonds, due May 15, 2046 1.48%
U.S. Treasury Bonds, due Nov 15, 2042 1.46%
U.S. Treasury Bonds, due Feb 15, 2051 1.46%
Only in PULS
PGIM AAA CLO ETF 1.81%
Phillips 66 0% CP 22/06/2026, due Jun 22, 2026 0.83%
GLENCORE FUNDING LLC 0% CP 17/06/2026, due Jun 17, 2026 0.74%
Alexandria Real Estate Equities, Inc. 0% CP 01/06/2026, due Jun 1, 2026 0.66%
INTESA SANPAOLO SPA NEW YORK BRANCH 4.27% CP 30/06/2026, due Jun 30, 2026 0.63%
ABNANV 4.718 01/22/27 144A, due Jan 22, 2027 0.57%
Healthpeak Properties Inc 0% CP 24/06/2026, due Jun 24, 2026 0.52%
BX 2022-LBA6 A, due Jan 18, 2039 0.51%
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Side by side

GOVT iShares U.S. Treasury Bond ETF PULS PGIM Ultra Short Bond ETF
Where it sits Bond ETF Bond ETF
Issuer iShares PGIM
What it is Tracks an index of U.S. Treasury Bond Actively managed
Total return, 1 year −1.5% +4.0%
Expense ratio 0.05% 0.15%
Holdings 229 553
Net assets, as of Oct 27, 2026 $42.8bn $19.8bn

GOVT and PULS on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
GOVT

GOVT tracks an index of U.S. Treasury Bond. Over the year to Oct 28, 2026 it returned −1.5% with distributions reinvested. The prospectus expense ratio is 0.05% a year. It sat 8.1% below its high of Aug 4, 2020 on Oct 28, 2026.

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, GOVT or PULS?
In the year to Oct 28, 2026, with distributions reinvested, GOVT returned −1.5% and PULS +4.0%.
Which is cheaper, GOVT or PULS?
GOVT is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, GOVT against PULS, data as of Oct 28, 2026. https://etfiq.com/compare/any/govt-vs-puls

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