GSST vs. BILZ

Last updated Jun 4, 2026

GSST (Goldman Sachs Ultra Short Bond ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both Ultrashort Bond funds. Both are actively managed. Over the past year, GSST returned 4.61% vs 3.91% for BILZ. At a 0.25 correlation, their price movements are largely independent. GSST charges 0.16%/yr vs 0.14%/yr for BILZ.

Performance

GSST vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Ultra Short Bond ETF (GSST) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSST achieves a 1.55% return, which is significantly higher than BILZ's 1.47% return.

GSST

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.55%
• 6M: 1.88%
• 1Y: 4.61%
• 3Y*: 5.52%
• 5Y*: 3.75%
• 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)

GSST vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSST Goldman Sachs Ultra Short Bond ETF	1.55%	5.20%	6.01%	3.45%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.47%	4.21%	5.25%	2.33%

Correlation

The correlation between GSST and BILZ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.25

Return for Risk

GSST vs. BILZ — Risk / Return Rank

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

GSST

GSST Risk / Return Rank: 99
GSST Sharpe Ratio Rank: 99
GSST Sortino Ratio Rank: 99
GSST Omega Ratio Rank: 99
GSST Calmar Ratio Rank: 99
GSST 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.

GSST vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Ultra Short Bond ETF (GSST) 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.

	GSST	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	7.98	19.09	-11.11
Sortino ratio: Return per unit of downside risk	16.58	125.25	-108.67
Omega ratio: Gain probability vs. loss probability	3.94	53.31	-49.37
Calmar ratio: Return relative to maximum drawdown	29.99	198.55	-168.56
Martin ratio: Return relative to average drawdown	185.54	2,000.92	-1,815.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSST vs. BILZ - Sharpe Ratio Comparison

The current GSST Sharpe Ratio is 7.98, which is lower than the BILZ Sharpe Ratio of 19.09. The chart below compares the historical Sharpe Ratios of GSST 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

	GSST	BILZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.98	19.09	-11.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	5.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.78	10.48	-6.70

Drawdowns

GSST vs. BILZ - Drawdown Comparison

The maximum GSST drawdown since its inception was -3.51%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for GSST and BILZ.

Drawdown Indicators

	GSST	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-3.51%	-0.52%	-2.99%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-0.02%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-0.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-1.19%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.01%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.00%	+0.02%

Volatility

GSST vs. BILZ - Volatility Comparison

Goldman Sachs Ultra Short Bond ETF (GSST) has a higher volatility of 0.13% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that GSST'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

	GSST	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	0.07%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.41%	0.14%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	0.58%	0.21%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.63%	0.43%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	0.43%	+0.43%

GSST vs. BILZ - Expense Ratio Comparison

GSST has a 0.16% expense ratio, which is higher than BILZ's 0.14% 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

GSST vs. BILZ - Dividend Comparison

GSST's dividend yield for the trailing twelve months is around 4.32%, more than BILZ's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.07%	4.19%	4.95%	2.23%	0.00%	0.00%	0.00%	0.00%
GSST Goldman Sachs Ultra Short Bond ETF	4.32%	4.56%	5.45%	4.98%	1.97%	0.71%	1.12%	1.66%

Frequently Asked Questions

Can I hold both GSST and BILZ in my portfolio?

GSST and BILZ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSST or BILZ?

GSST has higher volatility (0.13%) compared to BILZ (0.07%). In terms of maximum drawdown, GSST dropped -3.51% vs BILZ's -0.52%.

Which ETF is better, GSST or BILZ?

On 1-year performance, GSST leads with 4.61% vs 3.91% for BILZ. On fees, BILZ is cheaper at 0.14% 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, GSST or BILZ?

Over the 1-year period, GSST has performed better with a 4.61% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSST or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.16% for GSST.

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

GSST has the higher dividend yield at 4.32%, compared with 4.07% for BILZ.

What is the main difference between GSST and BILZ?

They also come from different issuers: Goldman Sachs and PIMCO. Their fees differ too: 0.16% for GSST and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (19.09 vs 7.98), 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.