ICSH vs. BILZ
ICSH (iShares Ultra Short Duration Bond Active ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both Ultrashort Bond funds. ICSH is passively managed, while BILZ is actively managed. Over the past year, ICSH returned 4.36% vs 3.91% for BILZ. At a 0.25 correlation, their price movements are largely independent. ICSH charges 0.08%/yr vs 0.14%/yr for BILZ.
Performance
ICSH vs. BILZ - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ICSH having a 1.45% return and BILZ slightly higher at 1.47%.
ICSH
- 1D
- 0.00%
- 1M
- 0.34%
- YTD
- 1.45%
- 6M
- 1.79%
- 1Y
- 4.36%
- 3Y*
- 5.20%
- 5Y*
- 3.67%
- 10Y*
- 2.76%
BILZ
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.47%
- 6M
- 1.76%
- 1Y
- 3.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICSH vs. BILZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 1.45% | 4.96% | 5.52% | 3.28% |
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund | 1.47% | 4.21% | 5.25% | 2.33% |
Correlation
The correlation between ICSH and BILZ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.25 |
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Return for Risk
ICSH vs. BILZ — Risk / Return Rank
ICSH
BILZ
ICSH vs. BILZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) 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.
| ICSH | BILZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.86 | ||
| Sortino ratioReturn per unit of downside risk | -96.79 | ||
| Omega ratioGain probability vs. loss probability | 6.79 | 53.31 | -46.52 |
| Calmar ratioReturn relative to maximum drawdown | 44.30 | 198.55 | -154.25 |
| Martin ratioReturn relative to average drawdown | 297.17 | 2,000.92 | -1,703.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICSH | BILZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 11.22 | 19.09 | -7.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 7.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.93 | 10.48 | -8.55 |
Drawdowns
ICSH vs. BILZ - Drawdown Comparison
The maximum ICSH drawdown since its inception was -3.94%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for ICSH and BILZ.
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Drawdown Indicators
| ICSH | BILZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -0.52% | -3.42% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -0.02% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -0.01% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.00% | +0.01% |
Volatility
ICSH vs. BILZ - Volatility Comparison
iShares Ultra Short Duration Bond Active ETF (ICSH) has a higher volatility of 0.15% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that ICSH'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
| ICSH | 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 | 0.30% | 0.14% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.39% | 0.21% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.48% | 0.43% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 0.43% | +0.63% |
ICSH vs. BILZ - Expense Ratio Comparison
ICSH has a 0.08% 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
ICSH vs. BILZ - Dividend Comparison
ICSH's dividend yield for the trailing twelve months is around 4.34%, more than BILZ's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
Frequently Asked Questions
ICSH and BILZ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICSH has higher volatility (0.15%) compared to BILZ (0.07%). In terms of maximum drawdown, ICSH dropped -3.94% vs BILZ's -0.52%.
On 1-year performance, ICSH leads with 4.36% vs 3.91% for BILZ. On fees, ICSH is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ICSH has performed better with a 4.36% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICSH is cheaper with a 0.08% expense ratio, compared with 0.14% for BILZ.
ICSH has the higher dividend yield at 4.34%, compared with 4.07% for BILZ.
They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.08% for ICSH and 0.14% for BILZ.
BILZ currently has the higher Sharpe Ratio (19.09 vs 11.22), 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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