SGOV vs. BILZ

Last updated Apr 2, 2026

Compare and contrast key facts about iShares 0-3 Month Treasury Bond ETF (SGOV) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ).

SGOV and BILZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Securities Index. It was launched on May 26, 2020. BILZ is an actively managed fund by PIMCO. It was launched on Jun 21, 2023.

Performance

SGOV vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-3 Month Treasury Bond ETF (SGOV) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). The values are adjusted to include any dividend payments, if applicable.

SGOV vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SGOV iShares 0-3 Month Treasury Bond ETF	0.88%	4.24%	5.27%	2.80%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	0.84%	4.21%	5.25%	2.33%

Returns By Period

The year-to-date returns for both stocks are quite close, with SGOV having a 0.88% return and BILZ slightly lower at 0.84%.

SGOV

• 1D: 0.02%
• 1M: 0.30%
• YTD: 0.88%
• 6M: 1.89%
• 1Y: 4.07%
• 3Y*: 4.80%
• 5Y*: 3.41%
• 10Y*: —

BILZ

• 1D: 0.01%
• 1M: 0.29%
• YTD: 0.84%
• 6M: 1.84%
• 1Y: 4.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOV vs. BILZ - Expense Ratio Comparison

SGOV has a 0.09% 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%.

BILZ

PIMCO Ultra Short Government Active Exchange-Traded Fund

SGOV

iShares 0-3 Month Treasury Bond ETF

Return for Risk

SGOV vs. BILZ — Risk / Return Rank

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

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

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.

SGOV vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) 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.

	SGOV	BILZ	Difference
Sharpe ratio Return per unit of total volatility	20.61	19.23	+1.38
Sortino ratio Return per unit of downside risk	283.87	117.44	+166.44
Omega ratio Gain probability vs. loss probability	201.33	44.68	+156.65
Calmar ratio Return relative to maximum drawdown	411.31	204.35	+206.96
Martin ratio Return relative to average drawdown	4,618.08	1,813.57	+2,804.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGOV vs. BILZ - Sharpe Ratio Comparison

The current SGOV Sharpe Ratio is 20.61, which is comparable to the BILZ Sharpe Ratio of 19.23. The chart below compares the historical Sharpe Ratios of SGOV and BILZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SGOV	BILZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	20.61	19.23	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	14.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.34	10.37	+1.97

Correlation

The correlation between SGOV and BILZ is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SGOV vs. BILZ - Dividend Comparison

SGOV's dividend yield for the trailing twelve months is around 3.95%, less than BILZ's 4.15% yield.

	TTM	2025	2024	2023	2022	2021	2020
SGOV iShares 0-3 Month Treasury Bond ETF	3.95%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.15%	4.19%	4.95%	2.23%	0.00%	0.00%	0.00%

Drawdowns

SGOV vs. BILZ - Drawdown Comparison

The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum BILZ drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for SGOV and BILZ.

Drawdown Indicators

	SGOV	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.52%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-0.02%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-0.03%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.01%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

SGOV vs. BILZ - Volatility Comparison

iShares 0-3 Month Treasury Bond ETF (SGOV) has a higher volatility of 0.06% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.05%. This indicates that SGOV'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

	SGOV	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.05%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	0.14%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	0.21%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.24%	0.44%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	0.44%	-0.20%