NJNK vs. BILZ

Last updated Jun 4, 2026

NJNK (Columbia U.S. High Yield ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - NJNK is a High Yield Bonds fund actively managed by Columbia, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. Both are actively managed. Over the past year, NJNK returned 6.93% vs 3.91% for BILZ. At a correlation of -0.04, they often move in opposite directions. NJNK charges 0.46%/yr vs 0.14%/yr for BILZ.

Performance

NJNK vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia U.S. High Yield ETF (NJNK) 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, NJNK achieves a 1.32% return, which is significantly lower than BILZ's 1.47% return.

NJNK

• 1D: -0.32%
• 1M: 0.28%
• YTD: 1.32%
• 6M: 1.46%
• 1Y: 6.93%
• 3Y*: —
• 5Y*: —
• 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)

NJNK vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NJNK Columbia U.S. High Yield ETF	1.32%	9.03%	0.62%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.47%	4.21%	1.59%

Correlation

The correlation between NJNK and BILZ is -0.01, 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	-0.01
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	-0.04

Return for Risk

NJNK vs. BILZ — Risk / Return Rank

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

NJNK

NJNK Risk / Return Rank: 56
NJNK Sharpe Ratio Rank: 51
NJNK Sortino Ratio Rank: 56
NJNK Omega Ratio Rank: 54
NJNK Calmar Ratio Rank: 55
NJNK Martin Ratio Rank: 62

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.

NJNK vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia U.S. High Yield ETF (NJNK) 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.

	NJNK	BILZ	Difference
Sharpe ratio Return per unit of total volatility	1.74	19.09	-17.34
Sortino ratio Return per unit of downside risk	2.64	125.25	-122.61
Omega ratio Gain probability vs. loss probability	1.33	53.31	-51.98
Calmar ratio Return relative to maximum drawdown	2.64	198.55	-195.91
Martin ratio Return relative to average drawdown	10.97	2,000.92	-1,989.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NJNK vs. BILZ - Sharpe Ratio Comparison

The current NJNK Sharpe Ratio is 1.74, which is lower than the BILZ Sharpe Ratio of 19.09. The chart below compares the historical Sharpe Ratios of NJNK 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

	NJNK	BILZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	19.09	-17.34
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	10.48	-9.17

Drawdowns

NJNK vs. BILZ - Drawdown Comparison

The maximum NJNK drawdown since its inception was -4.48%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for NJNK and BILZ.

Drawdown Indicators

	NJNK	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-4.48%	-0.52%	-3.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-0.02%	-2.61%
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-0.50%	-0.01%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.00%	+0.63%

Volatility

NJNK vs. BILZ - Volatility Comparison

Columbia U.S. High Yield ETF (NJNK) has a higher volatility of 1.42% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that NJNK'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

	NJNK	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	0.07%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	0.14%	+2.96%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	0.21%	+3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.80%	0.43%	+4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.80%	0.43%	+4.37%

NJNK vs. BILZ - Expense Ratio Comparison

NJNK has a 0.46% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

NJNK vs. BILZ - Dividend Comparison

NJNK's dividend yield for the trailing twelve months is around 6.44%, more than BILZ's 4.07% yield.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.07%	4.19%	4.95%	2.23%
NJNK Columbia U.S. High Yield ETF	6.44%	6.34%	2.05%	0.00%

Frequently Asked Questions

Can I hold both NJNK and BILZ in my portfolio?

NJNK and BILZ have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NJNK or BILZ?

NJNK has higher volatility (1.42%) compared to BILZ (0.07%). In terms of maximum drawdown, NJNK dropped -4.48% vs BILZ's -0.52%.

Which ETF is better, NJNK or BILZ?

On 1-year performance, NJNK leads with 6.93% vs 3.91% 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.

Which ETF has performed better, NJNK or BILZ?

Over the 1-year period, NJNK has performed better with a 6.93% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NJNK or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.46% for NJNK.

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

NJNK has the higher dividend yield at 6.44%, compared with 4.07% for BILZ.

What is the main difference between NJNK and BILZ?

NJNK is categorized as High Yield Bonds, while BILZ is Ultrashort Bond. They also come from different issuers: Columbia and PIMCO. Their fees differ too: 0.46% for NJNK and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (19.09 vs 1.74), 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.