EJAN vs. BILZ
EJAN (Innovator Emerging Markets Power Buffer ETF January) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - EJAN is a Volatility Hedged Equity fund tracking the MSCI Emerging Markets Index, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. EJAN is passively managed, while BILZ is actively managed. Over the past 3 years, EJAN returned 8.09%/yr vs 4.68%/yr for BILZ. At a correlation of -0.04, they often move in opposite directions. EJAN charges 0.89%/yr vs 0.14%/yr for BILZ.
Performance
EJAN vs. BILZ - Performance Comparison
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Returns By Period
In the year-to-date period, EJAN achieves a 5.32% return, which is significantly higher than BILZ's 1.66% return.
EJAN
- 1D
- -1.57%
- 1M
- -0.12%
- YTD
- 5.32%
- 6M
- 5.61%
- 1Y
- 12.71%
- 3Y*
- 8.09%
- 5Y*
- 2.74%
- 10Y*
- —
BILZ
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 1.66%
- 6M
- 1.76%
- 1Y
- 3.88%
- 3Y*
- 4.68%
- 5Y*
- —
- 10Y*
- —
EJAN vs. BILZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EJAN Innovator Emerging Markets Power Buffer ETF January | 5.32% | 14.78% | 2.69% | 0.32% |
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund | 1.66% | 4.21% | 5.25% | 2.87% |
Correlation
The correlation between EJAN and BILZ is -0.14, 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 (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | -0.04 |
The correlation between EJAN and BILZ shifts across timeframes, from -0.14 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EJAN vs. BILZ — Risk / Return Rank
EJAN
BILZ
EJAN vs. BILZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets Power Buffer ETF January (EJAN) 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.
| EJAN | BILZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.14 | ||
| Sortino ratioReturn per unit of downside risk | -116.33 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 47.37 | -46.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 197.18 | -195.26 |
| Martin ratioReturn relative to average drawdown | 8.80 | 1,895.58 | -1,886.79 |
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Drawdowns
EJAN vs. BILZ - Drawdown Comparison
The maximum EJAN drawdown since its inception was -22.23%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for EJAN and BILZ.
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Drawdown Indicators
| EJAN | BILZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.23% | -0.52% | -21.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -0.02% | -6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -11.75% | -0.17% | -11.58% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | — | — |
Current DrawdownCurrent decline from peak | -1.57% | 0.00% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -5.74% | -0.01% | -5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 0.00% | +1.45% |
Volatility
EJAN vs. BILZ - Volatility Comparison
Innovator Emerging Markets Power Buffer ETF January (EJAN) has a higher volatility of 3.35% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that EJAN'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.
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Volatility by Period
| EJAN | BILZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 0.07% | +3.28% |
Volatility (6M)Calculated over the trailing 6-month period | 7.93% | 0.14% | +7.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.32% | 0.21% | +8.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.15% | 0.52% | +10.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.69% | 0.52% | +12.17% |
EJAN vs. BILZ - Expense Ratio Comparison
EJAN has a 0.89% expense ratio, which is higher than BILZ's 0.14% expense ratio.
Dividends
EJAN vs. BILZ - Dividend Comparison
EJAN has not paid dividends to shareholders, while BILZ's dividend yield for the trailing twelve months is around 4.06%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund | 4.06% | 4.19% | 4.95% | 2.23% |
EJAN Innovator Emerging Markets Power Buffer ETF January | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EJAN and BILZ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EJAN has higher volatility (3.35%) compared to BILZ (0.07%). In terms of maximum drawdown, EJAN dropped -22.23% vs BILZ's -0.52%.
On 3-year performance, EJAN leads with 8.09% vs 4.68% for BILZ. On fees, BILZ is cheaper at 0.14% per year. On volatility, BILZ has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EJAN has performed better with a 8.09% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BILZ is cheaper with a 0.14% expense ratio, compared with 0.89% for EJAN.
BILZ has the higher dividend yield at 4.06%, compared with 0.00% for EJAN.
EJAN is categorized as Volatility Hedged Equity, while BILZ is Ultrashort Bond. They also come from different issuers: Innovator and PIMCO. Their fees differ too: 0.89% for EJAN and 0.14% for BILZ.
BILZ currently has the higher Sharpe Ratio (18.68 vs 1.54), 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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