Data as of Oct 28, 2026.
PULS vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, PULS returned +4.0% to USMV's +10.8%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $19.8bn for PGIM Ultra Short Bond ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
Both cost 0.15% a year; their one-year returns differ by 6.8 points; USMV is 1.2 times larger.
| Measure | PULS | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.0% | +10.8% |
| Benchmark | ||
| What it tracks | No index, actively managed | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.15% |
| Net assets, as of Oct 27, 2026 | $19.8bn | $24.1bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 93% | |
| Top ten holdings, share of the fund | 14.8% | |
Holdings in common uses holdings dated May 29, 2026 and Oct 27, 2026. Method
Risk and return
Apr 20, 2018 to Oct 23, 2026 · 444 weekly returnsUSMV returned more: +128.6% to +32.2%. PULS swung less: 1.9% to 15.5%. PULS fell less at its worst: −5.9% to −30.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PULS | USMV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +32.2% | +128.6% | USMV | Price change plus distributions, reinvested. |
| Annualized | +3.3% | +10.2% | USMV | Total return as a yearly rate. |
| Price return | −0.9% | +97.1% | USMV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 1.9% | 15.5% | PULS | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 1.6% | 11.1% | PULS | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.9% | −30.6% | PULS | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.27 | 0.52 | USMV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.32 | 0.73 | USMV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.57 | 0.33 | PULS | 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.
What they share
By the books each fund has filed, PULS and USMV hold 0% of their money in the same securities at the same weight. Holdings dated May 29, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
PULS and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: the two funds' holdings are dated 151 days apart.
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.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, PULS against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/puls-vs-usmv
ETFIQ. (Oct 28, 2026). PULS against USMV. Retrieved from https://etfiq.com/compare/any/puls-vs-usmv
[PULS against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/puls-vs-usmv)
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