BILZ vs. SPTU

Last updated Jun 4, 2026

BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. BILZ is actively managed, while SPTU is passively managed. At a 0.27 correlation, their price movements are largely independent. BILZ charges 0.14%/yr vs 0.05%/yr for SPTU.

Performance

BILZ vs. SPTU - 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 State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BILZ having a 1.47% return and SPTU slightly higher at 1.48%.

BILZ

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.47%
• 6M: 1.76%
• 1Y: 3.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTU

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BILZ vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.47%	0.91%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between BILZ and SPTU is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.27

Return for Risk

BILZ vs. SPTU — 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

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. SPTU - 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 State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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	SPTU	Difference
Sharpe ratio Return per unit of total volatility	19.09	—	—
Sortino ratio Return per unit of downside risk	125.25	—	—
Omega ratio Gain probability vs. loss probability	53.31	—	—
Calmar ratio Return relative to maximum drawdown	198.55	—	—
Martin ratio Return relative to average drawdown	2,000.92	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BILZ	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	19.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	10.48	11.82	-1.34

Drawdowns

BILZ vs. SPTU - Drawdown Comparison

The maximum BILZ drawdown since its inception was -0.52%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for BILZ and SPTU.

Drawdown Indicators

	BILZ	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.52%	-0.04%	-0.48%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.01%	-0.00%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	BILZ	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	0.32%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.43%	0.32%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.43%	0.32%	+0.11%

BILZ vs. SPTU - Expense Ratio Comparison

BILZ has a 0.14% expense ratio, which is higher than SPTU's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BILZ vs. SPTU - Dividend Comparison

BILZ's dividend yield for the trailing twelve months is around 4.07%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.07%	4.19%	4.95%	2.23%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BILZ and SPTU in my portfolio?

BILZ and SPTU have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BILZ or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BILZ or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.14% for BILZ.

Which ETF pays a higher dividend yield, BILZ or SPTU?

BILZ has the higher dividend yield at 4.07%, compared with 2.36% for SPTU.

What is the main difference between BILZ and SPTU?

They also come from different issuers: PIMCO and State Street. Their fees differ too: 0.14% for BILZ and 0.05% for SPTU.