QCML vs. BILZ

Last updated Jun 24, 2026

QCML (GraniteShares 2x Long QCOM Daily ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - QCML is a Leveraged Equities fund tracking the Qualcomm Inc. (QCOM), while BILZ is a Ultrashort Bond fund actively managed by PIMCO. QCML is passively managed, while BILZ is actively managed. Over the past year, QCML returned 33.01% vs 3.88% for BILZ. At a correlation of -0.03, they often move in opposite directions. QCML charges 1.50%/yr vs 0.14%/yr for BILZ.

Performance

QCML vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long QCOM Daily ETF (QCML) 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, QCML achieves a 14.98% return, which is significantly higher than BILZ's 1.66% return.

QCML

• 1D: -16.19%
• 1M: -31.47%
• YTD: 14.98%
• 6M: 10.10%
• 1Y: 33.01%
• 3Y*: —
• 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)

QCML vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025
QCML GraniteShares 2x Long QCOM Daily ETF	14.98%	-16.71%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.66%	3.71%

Correlation

The correlation between QCML and BILZ is -0.02, 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	-0.02
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.03

Return for Risk

QCML vs. BILZ — Risk / Return Rank

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

QCML

QCML Risk / Return Rank: 18
QCML Sharpe Ratio Rank: 14
QCML Sortino Ratio Rank: 23
QCML Omega Ratio Rank: 26
QCML Calmar Ratio Rank: 15
QCML Martin Ratio Rank: 14

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.

QCML vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long QCOM Daily ETF (QCML) 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.

	QCML	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	0.33	18.68	-18.35
Sortino ratio: Return per unit of downside risk	1.21	118.53	-117.32
Omega ratio: Gain probability vs. loss probability	1.17	47.37	-46.20
Calmar ratio: Return relative to maximum drawdown	0.56	197.18	-196.62
Martin ratio: Return relative to average drawdown	1.15	1,895.58	-1,894.43

QCML vs. BILZ - Sharpe Ratio Comparison

The current QCML Sharpe Ratio is 0.33, which is lower than the BILZ Sharpe Ratio of 18.68. The chart below compares the historical Sharpe Ratios of QCML 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

QCML vs. BILZ - Drawdown Comparison

The maximum QCML drawdown since its inception was -59.13%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for QCML and BILZ.

Drawdown Indicators

	QCML	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-59.13%	-0.52%	-58.61%
Max Drawdown (1Y) Largest decline over 1 year	-58.72%	-0.02%	-58.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.17%	—
Current Drawdown Current decline from peak	-37.63%	0.00%	-37.63%
Average Drawdown Average peak-to-trough decline	-28.97%	-0.01%	-28.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.77%	0.00%	+28.77%

Volatility

QCML vs. BILZ - Volatility Comparison

GraniteShares 2x Long QCOM Daily ETF (QCML) has a higher volatility of 57.03% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that QCML'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

	QCML	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	57.03%	0.07%	+56.96%
Volatility (6M) Calculated over the trailing 6-month period	88.55%	0.14%	+88.41%
Volatility (1Y) Calculated over the trailing 1-year period	100.79%	0.21%	+100.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	99.78%	0.52%	+99.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.78%	0.52%	+99.26%

QCML vs. BILZ - Expense Ratio Comparison

QCML has a 1.50% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

QCML vs. BILZ - Dividend Comparison

QCML has not paid dividends to shareholders, while BILZ's dividend yield for the trailing twelve months is around 4.06%.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.06%	4.19%	4.95%	2.23%
QCML GraniteShares 2x Long QCOM Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QCML and BILZ in my portfolio?

QCML and BILZ have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCML or BILZ?

QCML has higher volatility (57.03%) compared to BILZ (0.07%). In terms of maximum drawdown, QCML dropped -59.13% vs BILZ's -0.52%.

Which ETF is better, QCML or BILZ?

On 1-year performance, QCML leads with 33.01% vs 3.88% 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, QCML or BILZ?

Over the 1-year period, QCML has performed better with a 33.01% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCML or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 1.50% for QCML.

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

BILZ has the higher dividend yield at 4.06%, compared with 0.00% for QCML.

What is the main difference between QCML and BILZ?

QCML is categorized as Leveraged Equities, while BILZ is Ultrashort Bond. They also come from different issuers: GraniteShares and PIMCO. Their fees differ too: 1.50% for QCML and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (18.68 vs 0.33), 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.