OAEM vs. BILZ

Last updated Jun 24, 2026

OAEM (OneAscent Emerging Markets ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - OAEM is a Emerging Markets Diversified fund actively managed by Oneascent, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. Both are actively managed. Over the past 3 years, OAEM returned 20.22%/yr vs 4.68%/yr for BILZ. At a correlation of -0.08, they often move in opposite directions. OAEM charges 1.25%/yr vs 0.14%/yr for BILZ.

Performance

OAEM vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OneAscent Emerging Markets ETF (OAEM) 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, OAEM achieves a 32.44% return, which is significantly higher than BILZ's 1.66% return.

OAEM

• 1D: -6.19%
• 1M: 3.23%
• YTD: 32.44%
• 6M: 36.48%
• 1Y: 54.85%
• 3Y*: 20.22%
• 5Y*: —
• 10Y*: —

BILZ

• 1D: 0.01%
• 1M: 0.26%
• YTD: 1.66%
• 6M: 1.76%
• 1Y: 3.88%
• 3Y*: 4.68%
• 5Y*: —
• 10Y*: —

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

OAEM vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OAEM OneAscent Emerging Markets ETF	32.44%	26.67%	0.43%	1.46%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.66%	4.21%	5.25%	2.87%

Correlation

The correlation between OAEM and BILZ is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	-0.08

Return for Risk

OAEM vs. BILZ — Risk / Return Rank

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

OAEM

OAEM Risk / Return Rank: 74
OAEM Sharpe Ratio Rank: 75
OAEM Sortino Ratio Rank: 63
OAEM Omega Ratio Rank: 73
OAEM Calmar Ratio Rank: 79
OAEM Martin Ratio Rank: 81

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.

OAEM vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OneAscent Emerging Markets ETF (OAEM) 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.

	OAEM	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	2.18	18.68	-16.50
Sortino ratio: Return per unit of downside risk	2.69	118.53	-115.84
Omega ratio: Gain probability vs. loss probability	1.39	47.37	-45.98
Calmar ratio: Return relative to maximum drawdown	3.77	197.18	-193.41
Martin ratio: Return relative to average drawdown	14.95	1,895.58	-1,880.64

OAEM vs. BILZ - Sharpe Ratio Comparison

The current OAEM Sharpe Ratio is 2.18, which is lower than the BILZ Sharpe Ratio of 18.68. The chart below compares the historical Sharpe Ratios of OAEM 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

OAEM vs. BILZ - Drawdown Comparison

The maximum OAEM drawdown since its inception was -17.05%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for OAEM and BILZ.

Drawdown Indicators

	OAEM	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-17.05%	-0.52%	-16.53%
Max Drawdown (1Y) Largest decline over 1 year	-14.63%	-0.02%	-14.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.05%	-0.17%	-16.88%
Current Drawdown Current decline from peak	-6.19%	0.00%	-6.19%
Average Drawdown Average peak-to-trough decline	-3.85%	-0.01%	-3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	0.00%	+3.68%

Volatility

OAEM vs. BILZ - Volatility Comparison

OneAscent Emerging Markets ETF (OAEM) has a higher volatility of 13.79% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that OAEM'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

	OAEM	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.79%	0.07%	+13.72%
Volatility (6M) Calculated over the trailing 6-month period	23.31%	0.14%	+23.17%
Volatility (1Y) Calculated over the trailing 1-year period	25.31%	0.21%	+25.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.41%	0.52%	+19.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.41%	0.52%	+19.89%

OAEM vs. BILZ - Expense Ratio Comparison

OAEM has a 1.25% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

OAEM vs. BILZ - Dividend Comparison

OAEM's dividend yield for the trailing twelve months is around 0.58%, less than BILZ's 4.06% yield.

Position	TTM	2025	2024	2023	2022
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.06%	4.19%	4.95%	2.23%	0.00%
OAEM OneAscent Emerging Markets ETF	0.58%	0.77%	0.91%	1.63%	0.04%

Frequently Asked Questions

Can I hold both OAEM and BILZ in my portfolio?

OAEM and BILZ have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAEM or BILZ?

OAEM has higher volatility (13.79%) compared to BILZ (0.07%). In terms of maximum drawdown, OAEM dropped -17.05% vs BILZ's -0.52%.

Which ETF is better, OAEM or BILZ?

On 3-year performance, OAEM leads with 20.22% 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.

Which ETF has performed better, OAEM or BILZ?

Over the 3-year period, OAEM has performed better with a 20.22% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OAEM or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 1.25% for OAEM.

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

BILZ has the higher dividend yield at 4.06%, compared with 0.58% for OAEM.

What is the main difference between OAEM and BILZ?

OAEM is categorized as Emerging Markets Diversified, while BILZ is Ultrashort Bond. They also come from different issuers: Oneascent and PIMCO. Their fees differ too: 1.25% for OAEM and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (18.68 vs 2.18), 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.