BOXX vs PULS: Yield, Cost and Returns Compared
As of Nov 5, 2026, PULS yields more: 4.76% (current yield) against 0.00% for BOXX. PULS is cheaper to own at 0.15% a year vs 0.19%. Over the same 3 years (Dec 2022 to Oct 2026), PULS returned 5.4% a year with distributions reinvested, and BOXX 4.6%. BOXX's income is not paid out at all (it builds up in the price and is taxed when you sell); PULS's is mostly taxable by states.
| Compared | BOXX | PULS |
|---|---|---|
| YieldCurrent yield | 0.00% | 4.76% |
| Expense ratio | 0.19% | 0.15% |
| Total return, 1 yr | +4.1% | +4.1% |
| Total return, 3 yr (a year) | +4.6% | +5.3% |
| Total return, 5 yr (a year) | — | +4.4% |
| Worst drop since Dec 2022 | 0.0% | 0.0% |
| Share price since Dec 2022 | +19% | +1% |
| Pays | Annual | Monthly |
| Issuer | Alpha Architect | PGIM |
| Assets | $14.4B | $19.6B |
| Started | 2022 | 2018 |
| Type | Box-spread ETF | Ultra-short bond ETF |
Higher yield
PULS
4.76%
Lower cost
PULS
0.15%
Better total return
PULS
5.4%/yr
Smaller worst drop
BOXX
0.0%
Key facts: BOXX vs PULS
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BOXX yields 0.00% (current yield) and PULS yields 4.76% (current yield).
- BOXX's expense ratio is 0.19% and PULS's is 0.15%: $19 vs $15 a year on $10,000.
- From Dec 2022 to Oct 2026, $10,000 in BOXX grew to $11,902 (4.6% a year) and $10,000 in PULS to $12,232 (5.4% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for BOXX and 0.0% for PULS.
- BOXX's income is not paid out at all (it builds up in the price and is taxed when you sell), while PULS's is mostly taxable by states.
Cite this page
SmarterDividends, "BOXX vs PULS: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/boxx-vs-puls
$10,000 in each, Dec 2022 to Oct 2026
Distributions reinvested, month-end values.
BOXX became
$11,902
4.6% a year
PULS became
$12,232
5.4% a year
Year by year
| Year | BOXX | PULS |
|---|---|---|
| 2025 | +4.4% | +5.0% |
| 2024 | +5.2% | +6.1% |
| 2023 | +5.0% | +6.3% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- BOXX · Box-spread ETF
- Earns a T-bill-like return from options box spreads and pays no distributions: the return shows up in the share price and is taxed when you sell.
- PULS · Ultra-short bond ETF
- Holds short-term bonds, which can include corporate or asset-backed debt, for a little more yield than T-bills and a little more price movement.
General information, not tax advice. Every cash fund by yield →
Top holdings
No overlap in the top ten.
BOXX
- Holdings not reported.
PULS
- PAAA PGIM AAA CLO ETF2.3%
BOXX vs PULS: questions
Is BOXX or PULS better?
It depends on the job. PULS pays more today (4.76% vs 0.00%), PULS costs less, and PULS has the better total return over Dec 2022 to Oct 2026, with BOXX holding up better in its worst stretch. For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, BOXX or PULS?
PULS, at 4.76% against 0.00% for BOXX as of Nov 5, 2026. On $10,000 that's about $476 vs $0 a year at today's rates.
Which has the better total return?
PULS. From Dec 2022 to Oct 2026, it returned 5.4% a year with distributions reinvested, against 4.6% for BOXX. $10,000 became $12,232 vs $11,902.
Which is cheaper, BOXX or PULS?
PULS, with a 0.15% expense ratio against 0.19%.
How are BOXX and PULS taxed?
BOXX: Earns a T-bill-like return from options box spreads and pays no distributions: the return shows up in the share price and is taxed when you sell. PULS: Holds short-term bonds, which can include corporate or asset-backed debt, for a little more yield than T-bills and a little more price movement. General information, not tax advice.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. PULS leads on 4 of 4 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.