BKUI vs. BILZ

Last updated Jun 4, 2026

BKUI (BNY Mellon Ultra Short Income ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both Ultrashort Bond funds. Both are actively managed. Over the past year, BKUI returned 4.32% vs 3.91% for BILZ. At a 0.07 correlation, their price movements are largely independent. BKUI charges 0.12%/yr vs 0.14%/yr for BILZ.

Performance

BKUI vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Ultra Short Income ETF (BKUI) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). 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 BKUI having a 1.42% return and BILZ slightly higher at 1.47%.

BKUI

• 1D: -0.01%
• 1M: 0.33%
• YTD: 1.42%
• 6M: 1.74%
• 1Y: 4.32%
• 3Y*: 5.21%
• 5Y*: —
• 10Y*: —

BILZ

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

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

BKUI vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BKUI BNY Mellon Ultra Short Income ETF	1.42%	4.93%	5.50%	3.41%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.47%	4.21%	5.25%	2.33%

Correlation

The correlation between BKUI and BILZ is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.07

Return for Risk

BKUI vs. BILZ — Risk / Return Rank

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

BKUI

BKUI Risk / Return Rank: 99
BKUI Sharpe Ratio Rank: 99
BKUI Sortino Ratio Rank: 100
BKUI Omega Ratio Rank: 100
BKUI Calmar Ratio Rank: 99
BKUI Martin Ratio Rank: 99

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.

BKUI vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) 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.

	BKUI	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	10.52	19.09	-8.56
Sortino ratio: Return per unit of downside risk	25.25	125.25	-100.00
Omega ratio: Gain probability vs. loss probability	6.02	53.31	-47.29
Calmar ratio: Return relative to maximum drawdown	32.56	198.55	-165.99
Martin ratio: Return relative to average drawdown	230.94	2,000.92	-1,769.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKUI vs. BILZ - Sharpe Ratio Comparison

The current BKUI Sharpe Ratio is 10.52, which is lower than the BILZ Sharpe Ratio of 19.09. The chart below compares the historical Sharpe Ratios of BKUI and BILZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKUI	BILZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.52	19.09	-8.56
Sharpe Ratio (All Time) Calculated using the full available price history	6.08	10.48	-4.40

Drawdowns

BKUI vs. BILZ - Drawdown Comparison

The maximum BKUI drawdown since its inception was -1.72%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for BKUI and BILZ.

Drawdown Indicators

	BKUI	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-1.72%	-0.52%	-1.20%
Max Drawdown (1Y) Largest decline over 1 year	-0.13%	-0.02%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-0.25%	—	—
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.27%	-0.01%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.00%	+0.02%

Volatility

BKUI vs. BILZ - Volatility Comparison

BNY Mellon Ultra Short Income ETF (BKUI) has a higher volatility of 0.15% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that BKUI's price experiences larger fluctuations and is considered to be riskier than BILZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKUI	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	0.07%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	0.31%	0.14%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	0.21%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.59%	0.43%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.59%	0.43%	+0.16%

BKUI vs. BILZ - Expense Ratio Comparison

BKUI has a 0.12% expense ratio, which is lower than BILZ's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKUI vs. BILZ - Dividend Comparison

BKUI's dividend yield for the trailing twelve months is around 4.21%, more than BILZ's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.07%	4.19%	4.95%	2.23%	0.00%	0.00%
BKUI BNY Mellon Ultra Short Income ETF	4.21%	4.48%	5.11%	4.29%	1.82%	0.22%

Frequently Asked Questions

Can I hold both BKUI and BILZ in my portfolio?

BKUI and BILZ have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKUI or BILZ?

BKUI has higher volatility (0.15%) compared to BILZ (0.07%). In terms of maximum drawdown, BKUI dropped -1.72% vs BILZ's -0.52%.

Which ETF is better, BKUI or BILZ?

On 1-year performance, BKUI leads with 4.32% vs 3.91% for BILZ. On fees, BKUI is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKUI or BILZ?

Over the 1-year period, BKUI has performed better with a 4.32% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKUI or BILZ?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.14% for BILZ.

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

BKUI has the higher dividend yield at 4.21%, compared with 4.07% for BILZ.

What is the main difference between BKUI and BILZ?

They also come from different issuers: BNY Mellon and PIMCO. Their fees differ too: 0.12% for BKUI and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (19.09 vs 10.52), 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.