BIL vs. BILZ
BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. BIL is passively managed, while BILZ is actively managed. Over the past year, BIL returned 3.87% vs 3.91% for BILZ. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.
Performance
BIL vs. BILZ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BIL having a 1.49% return and BILZ slightly lower at 1.47%.
BIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.49%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.64%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
BILZ
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.47%
- 6M
- 1.76%
- 1Y
- 3.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BIL vs. BILZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 2.76% |
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund | 1.47% | 4.21% | 5.25% | 2.33% |
Correlation
The correlation between BIL and BILZ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.48 |
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Return for Risk
BIL vs. BILZ — Risk / Return Rank
BIL
BILZ
BIL vs. BILZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BIL | BILZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +48.91 | ||
| Omega ratioGain probability vs. loss probability | 87.91 | 53.31 | +34.60 |
| Calmar ratioReturn relative to maximum drawdown | 355.35 | 198.55 | +156.81 |
| Martin ratioReturn relative to average drawdown | 2,817.77 | 2,000.92 | +816.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIL | BILZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 19.71 | 19.09 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 13.16 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 8.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.78 | 10.48 | -7.70 |
Drawdowns
BIL vs. BILZ - Drawdown Comparison
The maximum BIL drawdown since its inception was -0.78%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for BIL and BILZ.
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Drawdown Indicators
| BIL | BILZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.78% | -0.52% | -0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -0.02% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -0.21% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -0.01% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.00% | 0.00% |
Volatility
BIL vs. BILZ - Volatility Comparison
The current volatility for SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) is 0.05%, while PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) has a volatility of 0.07%. This indicates that BIL experiences smaller price fluctuations and is considered to be less risky than BILZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIL | BILZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.07% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 0.14% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 0.21% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 0.43% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.26% | 0.43% | -0.17% |
BIL vs. BILZ - Expense Ratio Comparison
Both BIL and BILZ have an expense ratio of 0.14%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BIL vs. BILZ - Dividend Comparison
BIL's dividend yield for the trailing twelve months is around 3.86%, less than BILZ's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.86% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund | 4.07% | 4.19% | 4.95% | 2.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIL and BILZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BILZ has higher volatility (0.07%) compared to BIL (0.05%). In terms of maximum drawdown, BIL dropped -0.78% vs BILZ's -0.52%.
On 1-year performance, BILZ leads with 3.91% vs 3.87% for BIL. Both ETFs have the same 0.14% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BILZ has performed better with a 3.91% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIL and BILZ have the same expense ratio: 0.14% per year.
BILZ has the higher dividend yield at 4.07%, compared with 3.86% for BIL.
BIL is categorized as Government Bonds, while BILZ is Ultrashort Bond. They also come from different issuers: State Street and PIMCO.
BIL currently has the higher Sharpe Ratio (19.71 vs 19.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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