GBIL vs PULS: Yield, Cost and Returns Compared
As of Nov 5, 2026, PULS yields more: 4.76% (current yield) against 3.59% for GBIL. GBIL is cheaper to own at 0.12% a year vs 0.15%. Over the same 8 years (Apr 2018 to Oct 2026), PULS returned 3.4% a year with distributions reinvested, and GBIL 2.7%. GBIL's income is generally exempt from state income tax; PULS's is mostly taxable by states.
| Compared | GBIL | PULS |
|---|---|---|
| YieldCurrent yield | 3.59% | 4.76% |
| Expense ratio | 0.12% | 0.15% |
| Total return, 1 yr | +3.6% | +4.1% |
| Total return, 3 yr (a year) | +4.4% | +5.3% |
| Total return, 5 yr (a year) | +3.6% | +4.4% |
| Total return, 10 yr (a year) | +2.4% | — |
| Worst drop since Apr 2018 | -0.4% | -2.8% |
| Share price since Apr 2018 | +0% | −1% |
| Pays | Monthly | Monthly |
| Issuer | Goldman Sachs | PGIM |
| Assets | $7.9B | $19.6B |
| Started | 2016 | 2018 |
| Type | Treasury ETF | Ultra-short bond ETF |
Higher yield
PULS
4.76%
Lower cost
GBIL
0.12%
Better total return
PULS
3.4%/yr
Smaller worst drop
GBIL
-0.4%
Key facts: GBIL vs PULS
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, GBIL yields 3.59% (current yield) and PULS yields 4.76% (current yield).
- GBIL's expense ratio is 0.12% and PULS's is 0.15%: $12 vs $15 a year on $10,000.
- From Apr 2018 to Oct 2026, $10,000 in GBIL grew to $12,492 (2.7% a year) and $10,000 in PULS to $13,262 (3.4% a year), distributions reinvested.
- Their worst month-end drops over that time: -0.4% for GBIL and -2.8% for PULS.
- GBIL's income is generally exempt from state income tax, while PULS's is mostly taxable by states.
Cite this page
SmarterDividends, "GBIL vs PULS: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/gbil-vs-puls
$10,000 in each, Apr 2018 to Oct 2026
Distributions reinvested, month-end values.
GBIL became
$12,492
2.7% a year
PULS became
$13,262
3.4% a year
Year by year
| Year | GBIL | PULS |
|---|---|---|
| 2025 | +4.1% | +5.0% |
| 2024 | +5.2% | +6.1% |
| 2023 | +4.9% | +6.3% |
| 2022 | +1.1% | +1.5% |
| 2021 | −0.1% | +0.5% |
| 2020 | +0.8% | +1.5% |
| 2019 | +2.3% | +3.2% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- GBIL · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
- 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.
GBIL
- Holdings not reported.
PULS
- PAAA PGIM AAA CLO ETF2.3%
GBIL vs PULS: questions
Is GBIL or PULS better?
It depends on the job. PULS pays more today (4.76% vs 3.59%), GBIL costs less, and PULS has the better total return over Apr 2018 to Oct 2026, with GBIL 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, GBIL or PULS?
PULS, at 4.76% against 3.59% for GBIL as of Nov 5, 2026. On $10,000 that's about $476 vs $359 a year at today's rates.
Which has the better total return?
PULS. From Apr 2018 to Oct 2026, it returned 3.4% a year with distributions reinvested, against 2.7% for GBIL. $10,000 became $13,262 vs $12,492.
Which is cheaper, GBIL or PULS?
GBIL, with a 0.12% expense ratio against 0.15%.
How are GBIL and PULS taxed?
GBIL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). 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.
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 6 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.