TUSB vs. BILZ

Last updated Jun 4, 2026

TUSB (Thrivent Ultra Short Bond ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both Ultrashort Bond funds. Both are actively managed. Over the past year, TUSB returned 4.62% vs 3.91% for BILZ. At a 0.13 correlation, their price movements are largely independent. TUSB charges 0.20%/yr vs 0.14%/yr for BILZ.

Performance

TUSB vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Ultra Short Bond ETF (TUSB) 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, TUSB achieves a 1.78% return, which is significantly higher than BILZ's 1.47% return.

TUSB

• 1D: -0.10%
• 1M: 0.44%
• YTD: 1.78%
• 6M: 2.09%
• 1Y: 4.62%
• 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)

TUSB vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025
TUSB Thrivent Ultra Short Bond ETF	1.78%	4.14%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.47%	3.64%

Correlation

The correlation between TUSB and BILZ is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.13

Return for Risk

TUSB vs. BILZ — Risk / Return Rank

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

TUSB

TUSB Risk / Return Rank: 98
TUSB Sharpe Ratio Rank: 98
TUSB Sortino Ratio Rank: 98
TUSB Omega Ratio Rank: 98
TUSB Calmar Ratio Rank: 98
TUSB Martin Ratio Rank: 98

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.

TUSB vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Ultra Short Bond ETF (TUSB) 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.

	TUSB	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	5.03	19.09	-14.06
Sortino ratio: Return per unit of downside risk	8.97	125.25	-116.28
Omega ratio: Gain probability vs. loss probability	2.24	53.31	-51.07
Calmar ratio: Return relative to maximum drawdown	18.74	198.55	-179.81
Martin ratio: Return relative to average drawdown	79.65	2,000.92	-1,921.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TUSB vs. BILZ - Sharpe Ratio Comparison

The current TUSB Sharpe Ratio is 5.03, which is lower than the BILZ Sharpe Ratio of 19.09. The chart below compares the historical Sharpe Ratios of TUSB 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

	TUSB	BILZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.03	19.09	-14.06
Sharpe Ratio (All Time) Calculated using the full available price history	3.73	10.48	-6.75

Drawdowns

TUSB vs. BILZ - Drawdown Comparison

The maximum TUSB drawdown since its inception was -0.51%, roughly equal to the maximum BILZ drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for TUSB and BILZ.

Drawdown Indicators

	TUSB	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.51%	-0.52%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-0.02%	-0.23%
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.01%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.00%	+0.06%

Volatility

TUSB vs. BILZ - Volatility Comparison

Thrivent Ultra Short Bond ETF (TUSB) has a higher volatility of 0.33% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that TUSB'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

	TUSB	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	0.07%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	0.66%	0.14%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	0.92%	0.21%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.25%	0.43%	+0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.25%	0.43%	+0.82%

TUSB vs. BILZ - Expense Ratio Comparison

TUSB has a 0.20% expense ratio, which is higher than BILZ's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TUSB vs. BILZ - Dividend Comparison

TUSB's dividend yield for the trailing twelve months is around 4.26%, 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%
TUSB Thrivent Ultra Short Bond ETF	4.26%	3.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TUSB and BILZ in my portfolio?

TUSB and BILZ have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUSB or BILZ?

TUSB has higher volatility (0.33%) compared to BILZ (0.07%). In terms of maximum drawdown, TUSB dropped -0.51% vs BILZ's -0.52%.

Which ETF is better, TUSB or BILZ?

On 1-year performance, TUSB leads with 4.62% 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, TUSB or BILZ?

Over the 1-year period, TUSB has performed better with a 4.62% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TUSB or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.20% for TUSB.

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

TUSB has the higher dividend yield at 4.26%, compared with 4.07% for BILZ.

What is the main difference between TUSB and BILZ?

They also come from different issuers: Thrivent and PIMCO. Their fees differ too: 0.20% for TUSB and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (19.09 vs 5.03), 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.