DDFF vs. BILZ

Last updated Jun 23, 2026

DDFF (Innovator Equity Dual Directional 15 Buffer ETF - February) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - DDFF is a Defined Outcome fund actively managed by Innovator, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. Both are actively managed. At a correlation of -0.16, they often move in opposite directions. DDFF charges 0.79%/yr vs 0.14%/yr for BILZ.

Performance

DDFF vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DDFF

• 1D: -0.02%
• 1M: 0.48%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BILZ

• 1D: 0.00%
• 1M: 0.25%
• YTD: 1.64%
• 6M: 1.75%
• 1Y: 3.89%
• 3Y*: 4.67%
• 5Y*: —
• 10Y*: —

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

DDFF vs. BILZ - Yearly Performance Comparison

	2026 (YTD)
DDFF Innovator Equity Dual Directional 15 Buffer ETF - February	3.29%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.36%

Correlation

The correlation between DDFF and BILZ is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 2, 2026	-0.16

Return for Risk

DDFF vs. BILZ — Risk / Return Rank

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

DDFF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DDFF vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DDFF	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	—	18.70	—
Sortino ratio: Return per unit of downside risk	—	118.69	—
Omega ratio: Gain probability vs. loss probability	—	47.43	—
Calmar ratio: Return relative to maximum drawdown	—	197.44	—
Martin ratio: Return relative to average drawdown	—	1,898.07	—

Drawdowns

DDFF vs. BILZ - Drawdown Comparison

The maximum DDFF drawdown since its inception was -3.72%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for DDFF and BILZ.

Drawdown Indicators

	DDFF	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-3.72%	-0.52%	-3.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.17%	—
Current Drawdown Current decline from peak	-0.18%	0.00%	-0.18%
Average Drawdown Average peak-to-trough decline	-0.59%	-0.01%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	DDFF	BILZ	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	5.81%	0.21%	+5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	0.52%	+5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	0.52%	+5.29%

DDFF vs. BILZ - Expense Ratio Comparison

DDFF has a 0.79% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

DDFF vs. BILZ - Dividend Comparison

DDFF has not paid dividends to shareholders, while BILZ's dividend yield for the trailing twelve months is around 4.07%.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.07%	4.19%	4.95%	2.23%
DDFF Innovator Equity Dual Directional 15 Buffer ETF - February	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DDFF and BILZ in my portfolio?

DDFF and BILZ have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFF or BILZ?

On fees, BILZ is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFF or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.79% for DDFF.

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

BILZ has the higher dividend yield at 4.07%, compared with 0.00% for DDFF.

What is the main difference between DDFF and BILZ?

DDFF is categorized as Defined Outcome, while BILZ is Ultrashort Bond. They also come from different issuers: Innovator and PIMCO. Their fees differ too: 0.79% for DDFF and 0.14% for BILZ.