NIKL vs. BILZ

Last updated Jun 25, 2026

NIKL (Sprott Nickel Miners ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - NIKL is a Energy Equities fund tracking the Nasdaq Sprott Nickel Miners Index - Benchmark TR Gross, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. NIKL is passively managed, while BILZ is actively managed. Over the past 3 years, NIKL returned -7.91%/yr vs 4.68%/yr for BILZ. At a correlation of -0.02, they often move in opposite directions. NIKL charges 0.75%/yr vs 0.14%/yr for BILZ.

Performance

NIKL vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Nickel Miners ETF (NIKL) 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, NIKL achieves a -16.99% return, which is significantly lower than BILZ's 1.66% return.

NIKL

• 1D: -3.15%
• 1M: -15.97%
• YTD: -16.99%
• 6M: -16.03%
• 1Y: 20.56%
• 3Y*: -7.91%
• 5Y*: —
• 10Y*: —

BILZ

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.66%
• 6M: 1.74%
• 1Y: 3.88%
• 3Y*: 4.68%
• 5Y*: —
• 10Y*: —

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

NIKL vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NIKL Sprott Nickel Miners ETF	-16.99%	52.05%	-22.48%	-22.05%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.66%	4.21%	5.25%	2.87%

Correlation

The correlation between NIKL 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 (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	-0.02

Return for Risk

NIKL vs. BILZ — Risk / Return Rank

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

NIKL

NIKL Risk / Return Rank: 17
NIKL Sharpe Ratio Rank: 17
NIKL Sortino Ratio Rank: 18
NIKL Omega Ratio Rank: 18
NIKL Calmar Ratio Rank: 16
NIKL Martin Ratio Rank: 16

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.

NIKL vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Nickel Miners ETF (NIKL) 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.

	NIKL	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	0.48	18.64	-18.16
Sortino ratio: Return per unit of downside risk	0.95	118.38	-117.43
Omega ratio: Gain probability vs. loss probability	1.11	47.31	-46.20
Calmar ratio: Return relative to maximum drawdown	0.56	196.92	-196.36
Martin ratio: Return relative to average drawdown	1.43	1,893.08	-1,891.65

NIKL vs. BILZ - Sharpe Ratio Comparison

The current NIKL Sharpe Ratio is 0.48, which is lower than the BILZ Sharpe Ratio of 18.64. The chart below compares the historical Sharpe Ratios of NIKL 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.

Drawdowns

NIKL vs. BILZ - Drawdown Comparison

The maximum NIKL drawdown since its inception was -60.23%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for NIKL and BILZ.

Drawdown Indicators

	NIKL	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-60.23%	-0.52%	-59.71%
Max Drawdown (1Y) Largest decline over 1 year	-36.58%	-0.02%	-36.56%
Max Drawdown (3Y) Largest decline over 3 years	-60.23%	-0.17%	-60.06%
Current Drawdown Current decline from peak	-36.58%	0.00%	-36.58%
Average Drawdown Average peak-to-trough decline	-26.65%	-0.01%	-26.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.42%	0.00%	+14.42%

Volatility

NIKL vs. BILZ - Volatility Comparison

Sprott Nickel Miners ETF (NIKL) has a higher volatility of 15.45% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.06%. This indicates that NIKL'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

	NIKL	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.45%	0.06%	+15.39%
Volatility (6M) Calculated over the trailing 6-month period	36.97%	0.14%	+36.83%
Volatility (1Y) Calculated over the trailing 1-year period	43.03%	0.21%	+42.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	0.52%	+32.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.99%	0.52%	+32.47%

NIKL vs. BILZ - Expense Ratio Comparison

NIKL has a 0.75% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

NIKL vs. BILZ - Dividend Comparison

NIKL's dividend yield for the trailing twelve months is around 3.04%, less than BILZ's 4.06% yield.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.06%	4.19%	4.95%	2.23%
NIKL Sprott Nickel Miners ETF	3.04%	2.53%	3.49%	19.52%

Frequently Asked Questions

Can I hold both NIKL and BILZ in my portfolio?

NIKL 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, NIKL or BILZ?

NIKL has higher volatility (15.45%) compared to BILZ (0.06%). In terms of maximum drawdown, NIKL dropped -60.23% vs BILZ's -0.52%.

Which ETF is better, NIKL or BILZ?

On 3-year performance, BILZ leads with 4.68% vs -7.91% for NIKL. On fees, BILZ is cheaper at 0.14% per year. On volatility, BILZ has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NIKL or BILZ?

Over the 3-year period, BILZ has performed better with a 4.68% return vs -7.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NIKL or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.75% for NIKL.

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

BILZ has the higher dividend yield at 4.06%, compared with 3.04% for NIKL.

What is the main difference between NIKL and BILZ?

NIKL is categorized as Energy Equities, while BILZ is Ultrashort Bond. They also come from different issuers: Sprott and PIMCO. Their fees differ too: 0.75% for NIKL and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (18.64 vs 0.48), 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.