Overview
Actively managed ultra-short investment-grade bonds — a cash-plus portfolio targeting more yield than money markets with minimal price movement.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| FRN | Corporate floating-rate notes | 34.2% |
| CORP | Short IG corporates | 28.6% |
| CP | Commercial paper | 12.4% |
| ABS | Asset-backed securities | 10.8% |
| CD | Certificates of deposit | 6.2% |
| UST | Treasuries & agencies | 4.6% |
| CASH | Cash & equivalents | 3.2% |
Fund Details
Investment Thesis
PULS is what cash management looks like with a bond desk behind it: Prudential's fixed-income team squeezes extra basis points from short corporate paper and floaters while keeping duration near zero. It has out-yielded money market funds since inception with a share price that barely wiggles — the reason it quietly gathered $18B. The trade-off versus USFR or TFLO: a sliver of credit risk for a fatter yield.
Who It's For
Cash parked for months rather than days — emergency funds, house deposits, dry powder — for investors comfortable taking minimal credit risk over pure Treasuries in exchange for more income.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | $48.34 | -- |
| 2019 | $48.67 | +0.7% |
| 2020 | $48.92 | +0.5% |
| 2021 | $48.87 | -0.1% |
| 2022 | $48.67 | -0.4% |
| 2023 | $49.26 | +1.2% |
| 2024 | $49.60 | +0.7% |
| 2025 | $49.80 | +0.4% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | 2.40% |
| 2019 | 2.70% |
| 2020 | 1.40% |
| 2021 | 0.60% |
| 2022 | 2.20% |
| 2023 | 5.00% |
| 2024 | 5.10% |
| 2025 | 4.50% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | $0.1B | -- |
| 2019 | $0.4B | +300.0% |
| 2020 | $0.9B | +125.0% |
| 2021 | $1.6B | +77.8% |
| 2022 | $3B | +87.5% |
| 2023 | $6B | +100.0% |
| 2024 | $13B | +116.7% |
| 2025 | $17B | +30.8% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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