BILZ vs. HYS

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS).

BILZ and HYS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BILZ is an actively managed fund by PIMCO. It was launched on Jun 21, 2023. HYS is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US High Yield Constrained (0-5 Y). It was launched on Jun 16, 2011.

Performance

BILZ vs. HYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). The values are adjusted to include any dividend payments, if applicable.

BILZ vs. HYS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	0.83%	4.21%	5.25%	2.33%
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF	-0.39%	8.80%	8.42%	7.13%

Returns By Period

In the year-to-date period, BILZ achieves a 0.83% return, which is significantly higher than HYS's -0.39% return.

BILZ

• 1D: 0.00%
• 1M: 0.28%
• YTD: 0.83%
• 6M: 1.85%
• 1Y: 4.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYS

• 1D: 0.70%
• 1M: -0.57%
• YTD: -0.39%
• 6M: 1.22%
• 1Y: 7.13%
• 3Y*: 8.21%
• 5Y*: 4.94%
• 10Y*: 5.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BILZ vs. HYS - Expense Ratio Comparison

BILZ has a 0.14% expense ratio, which is lower than HYS's 0.56% expense ratio.

HYS

PIMCO 0-5 Year High Yield Corporate Bond Index ETF

BILZ

PIMCO Ultra Short Government Active Exchange-Traded Fund

Return for Risk

BILZ vs. HYS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BILZ

BILZ Risk / Return Rank: 100
BILZ Sharpe Ratio Rank: 100
BILZ Sortino Ratio Rank: 100
BILZ Omega Ratio Rank: 100
BILZ Calmar Ratio Rank: 100
BILZ Martin Ratio Rank: 100

HYS

HYS Risk / Return Rank: 79
HYS Sharpe Ratio Rank: 76
HYS Sortino Ratio Rank: 78
HYS Omega Ratio Rank: 83
HYS Calmar Ratio Rank: 72
HYS Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BILZ vs. HYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). 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.

	BILZ	HYS	Difference
Sharpe ratio Return per unit of total volatility	19.30	1.33	+17.97
Sortino ratio Return per unit of downside risk	117.88	1.93	+115.94
Omega ratio Gain probability vs. loss probability	44.85	1.32	+43.53
Calmar ratio Return relative to maximum drawdown	203.30	1.78	+201.52
Martin ratio Return relative to average drawdown	1,804.32	9.95	+1,794.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BILZ vs. HYS - Sharpe Ratio Comparison

The current BILZ Sharpe Ratio is 19.30, which is higher than the HYS Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of BILZ and HYS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BILZ	HYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	19.30	1.33	+17.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	10.37	0.80	+9.57

Correlation

The correlation between BILZ and HYS is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BILZ vs. HYS - Dividend Comparison

BILZ's dividend yield for the trailing twelve months is around 4.18%, less than HYS's 7.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.18%	4.19%	4.95%	2.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF	7.40%	7.20%	7.43%	6.44%	5.01%	3.74%	4.52%	4.98%	4.64%	5.01%	5.13%	5.22%

Drawdowns

BILZ vs. HYS - Drawdown Comparison

The maximum BILZ drawdown since its inception was -0.52%, smaller than the maximum HYS drawdown of -20.91%. Use the drawdown chart below to compare losses from any high point for BILZ and HYS.

Drawdown Indicators

	BILZ	HYS	Difference
Max Drawdown Largest peak-to-trough decline	-0.52%	-20.91%	+20.39%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-4.06%	+4.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-10.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.91%	—
Current Drawdown Current decline from peak	0.00%	-1.02%	+1.02%
Average Drawdown Average peak-to-trough decline	-0.01%	-1.55%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.73%	-0.73%

Volatility

BILZ vs. HYS - Volatility Comparison

The current volatility for PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) is 0.05%, while PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) has a volatility of 1.88%. This indicates that BILZ experiences smaller price fluctuations and is considered to be less risky than HYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BILZ	HYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	1.88%	-1.83%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	2.52%	-2.38%
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	5.38%	-5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.44%	6.22%	-5.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	6.85%	-6.41%