Data as of Oct 28, 2026.
PULS vs VTEB: Differences, Returns & Fees
PULS's duration was 0.7 years on May 29, 2026 and VTEB's 7.1 on Jul 31, 2026; VTEB charges 0.03% to PULS's 0.15%.
askIQ about this page
askIQ about PULS and VTEB
Net assets: $19.8bn on Oct 27, 2026 for PGIM Ultra Short Bond ETF, and $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.12 points a year less; their one-year returns differ by 4.4 points.
| Measure | PULS | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.0% | −0.4% |
| Benchmark | ||
| What it tracks | No index, actively managed | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.03% |
| Net assets, PULS as of Oct 27, 2026 and VTEB as of Sep 30, 2026 | $19.8bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 29, 2026 and Jul 31, 2026. Method
Risk and return
Apr 20, 2018 to Oct 23, 2026 · 444 weekly returnsPULS returned more: +32.2% to +19.1%. PULS swung less: 1.9% to 7.6%. PULS fell less at its worst: −5.9% to −14.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PULS | VTEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +32.2% | +19.1% | PULS | Price change plus distributions, reinvested. |
| Annualized | +3.3% | +2.1% | PULS | Total return as a yearly rate. |
| Price return | −0.9% | −4.1% | PULS | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 1.9% | 7.6% | PULS | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 1.6% | 5.1% | PULS | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.9% | −14.8% | PULS | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.27 | −0.06 | PULS | Return above Treasury bills per unit of volatility. |
| Sortino | 0.32 | −0.09 | PULS | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.57 | 0.14 | 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 VTEB hold 0% of their money in the same securities at the same weight. Holdings dated May 29, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
PULS and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PULS and VTEB do different jobs. What does each one do in a portfolio?
- What each follows. PULS follows No index, actively managed and VTEB follows S&P National AMT-Free Municipal Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated May 29, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 PULS returned +4.0% and VTEB −0.4% with distributions reinvested, a gap of 4.4 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
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.
VTEB
VTEB tracks an index of Tax-Exempt Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year.
Questions people ask
- Which returned more over the last year, PULS or VTEB?
- In the year to Oct 28, 2026, with distributions reinvested, PULS returned +4.0% and VTEB −0.4%.
- Which is cheaper, PULS or VTEB?
- VTEB is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
Cite this pageCitation, APA and Markdown
ETFIQ, PULS against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/puls-vs-vteb
ETFIQ. (Oct 28, 2026). PULS against VTEB. Retrieved from https://etfiq.com/compare/any/puls-vs-vteb
[PULS against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/puls-vs-vteb)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.