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PULS vs TBIL: Differences, Returns & Fees

PULS's duration was 0.7 years on May 29, 2026 and TBIL's 0.2 on May 31, 2026; both charge 0.15%. Net assets on Oct 19, 2026: $19.8bn for PGIM Ultra Short Bond ETF and $7.6bn for F/m US Treasury 3 Month Bill Fund.

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Answers cite the figures on this page.

Both cost 0.15% a year; their one-year returns differ by 0.4 points; PULS is 2.6 times larger.

PULS vs TBIL: Differences, Returns & Fees
PULSTBIL
Expense ratio0.15%0.15%
Net assets, as of Oct 19, 2026$19.8bn$7.6bn
Total return, 1 year+4.1%+3.7%
What it tracksNo index, actively managedBloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US)
Holdings in commonreport dates differ

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

+4.1%
PULS total return, 1 year
+3.7%
TBIL total return, 1 year
0.15%
PULS expense ratio
0.15%
TBIL expense ratio

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Client brief · page 1 of 2Report BR-37A6A932A8

PULS and TBIL are built for the same job. How do they differ in cost, holdings and results?

  1. What each follows. PULS follows No index, actively managed and TBIL follows Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US).
  2. Number of holdings. PULS holds 553 positions and TBIL holds 1.
  3. One-year total return (similar). Over 1 year to Oct 20, 2026 PULS returned +4.1% and TBIL +3.7% with distributions reinvested, a gap of 0.4 points.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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On the same fields

PULS
PGIM Ultra Short Bond ETF
TBIL
F/m US Treasury 3 Month Bill Fund
Where it sits Bond ETF Bond ETF
Issuer PGIM F/m
What it is Actively managed Tracks an index
Total return, 1 year +4.1% +3.7%
Expense ratio 0.15% 0.15%
Holdings 553 1
Net assets, as of Oct 19, 2026 $19.8bn $7.6bn

PULS and TBIL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About PULS

PULS is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +4.1% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

About TBIL

TBIL tracks an index. Over the year to Oct 20, 2026 it returned +3.7% with distributions reinvested.

Questions people ask

Which returned more over the last year, PULS or TBIL?
In the year to Oct 20, 2026, with distributions reinvested, PULS returned +4.1% and TBIL +3.7%.
Which is cheaper, PULS or TBIL?
Neither: PULS and TBIL both charge 0.15% a year. Fees come from each fund's prospectus.
Other comparisons
BILS vs PULSFLTR vs PULSFLRN vs PULSBSCQ vs PULSTBIL vs USFRTBIL vs VBILFLOT vs TBILTBIL vs VUSB
PULS on its own →TBIL on its own →Hold both: look the portfolio through →Rankings →PULS dividend history →PULS holdings →TBIL dividend history →TBIL holdings →Standards and sources →
Where these figures came from
PULS filings on SEC EDGAR ↗PULS prospectus with the expense ratio (SEC) ↗PGIM website ↗TBIL filings on SEC EDGAR ↗TBIL prospectus with the expense ratio (SEC) ↗F/m page for TBIL ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, PULS against TBIL, data as of Oct 20, 2026. https://etfiq.com/compare/any/puls-vs-tbil

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Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.