PULS vs XHLF: Yield, Cost and Returns Compared
As of Nov 5, 2026, PULS yields more: 4.76% (current yield) against 3.75% for XHLF. XHLF is cheaper to own at 0.03% a year vs 0.15%. Over the same 4 years (Sep 2022 to Oct 2026), PULS returned 5.4% a year with distributions reinvested, and XHLF 4.4%. PULS's income is mostly taxable by states; XHLF's is generally exempt from state income tax.
| Compared | PULS | XHLF |
|---|---|---|
| YieldCurrent yield | 4.76% | 3.75% |
| Expense ratio | 0.15% | 0.03% |
| Total return, 1 yr | +4.1% | +3.6% |
| Total return, 3 yr (a year) | +5.3% | +4.4% |
| Total return, 5 yr (a year) | +4.4% | — |
| Worst drop since Sep 2022 | 0.0% | 0.0% |
| Share price since Sep 2022 | +1% | +0% |
| Pays | Monthly | Monthly |
| Issuer | PGIM | BondBloxx Investment Management |
| Assets | $19.6B | $2.0B |
| Started | 2018 | 2022 |
| Type | Ultra-short bond ETF | Treasury ETF |
Higher yield
PULS
4.76%
Lower cost
XHLF
0.03%
Better total return
PULS
5.4%/yr
Smaller worst drop
PULS
0.0%
Key facts: PULS vs XHLF
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, PULS yields 4.76% (current yield) and XHLF yields 3.75% (current yield).
- PULS's expense ratio is 0.15% and XHLF's is 0.03%: $15 vs $3 a year on $10,000.
- From Sep 2022 to Oct 2026, $10,000 in PULS grew to $12,385 (5.4% a year) and $10,000 in XHLF to $11,910 (4.4% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for PULS and 0.0% for XHLF.
- PULS's income is mostly taxable by states, while XHLF's is generally exempt from state income tax.
Cite this page
SmarterDividends, "PULS vs XHLF: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/puls-vs-xhlf
$10,000 in each, Sep 2022 to Oct 2026
Distributions reinvested, month-end values.
PULS became
$12,385
5.4% a year
XHLF became
$11,910
4.4% a year
Year by year
| Year | PULS | XHLF |
|---|---|---|
| 2025 | +5.0% | +4.2% |
| 2024 | +6.1% | +5.0% |
| 2023 | +6.3% | +4.9% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- 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.
- XHLF · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
General information, not tax advice. Every cash fund by yield →
Top holdings
No overlap in the top ten.
PULS
- PAAA PGIM AAA CLO ETF2.3%
XHLF
- Holdings not reported.
PULS vs XHLF: questions
Is PULS or XHLF better?
It depends on the job. PULS pays more today (4.76% vs 3.75%), XHLF costs less, and PULS has the better total return over Sep 2022 to Oct 2026, with PULS 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, PULS or XHLF?
PULS, at 4.76% against 3.75% for XHLF as of Nov 5, 2026. On $10,000 that's about $476 vs $375 a year at today's rates.
Which has the better total return?
PULS. From Sep 2022 to Oct 2026, it returned 5.4% a year with distributions reinvested, against 4.4% for XHLF. $10,000 became $12,385 vs $11,910.
Which is cheaper, PULS or XHLF?
XHLF, with a 0.03% expense ratio against 0.15%.
How are PULS and XHLF taxed?
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. XHLF: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). 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 3 of 4 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.