VLLU vs. BILZ

Last updated Jun 24, 2026

VLLU (Harbor AlphaEdge Large Cap Value ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - VLLU is a Large Cap Value Equities fund tracking the Harbor AlphaEdge Large Cap Value Index, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. VLLU is passively managed, while BILZ is actively managed. Over the past year, VLLU returned 24.32% vs 3.88% for BILZ. At a correlation of -0.06, they often move in opposite directions. VLLU charges 0.25%/yr vs 0.14%/yr for BILZ.

Performance

VLLU vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Large Cap Value ETF (VLLU) 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, VLLU achieves a 11.38% return, which is significantly higher than BILZ's 1.66% return.

VLLU

• 1D: -1.09%
• 1M: 2.18%
• YTD: 11.38%
• 6M: 10.08%
• 1Y: 24.32%
• 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)

VLLU vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VLLU Harbor AlphaEdge Large Cap Value ETF	11.38%	17.35%	1.89%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.66%	4.21%	1.59%

Correlation

The correlation between VLLU and BILZ is -0.06, 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	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	-0.06

Return for Risk

VLLU vs. BILZ — Risk / Return Rank

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

VLLU

VLLU Risk / Return Rank: 77
VLLU Sharpe Ratio Rank: 75
VLLU Sortino Ratio Rank: 78
VLLU Omega Ratio Rank: 71
VLLU Calmar Ratio Rank: 81
VLLU Martin Ratio Rank: 79

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.

VLLU vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Large Cap Value ETF (VLLU) 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.

	VLLU	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	2.18	18.68	-16.50
Sortino ratio: Return per unit of downside risk	3.14	118.53	-115.39
Omega ratio: Gain probability vs. loss probability	1.38	47.37	-45.99
Calmar ratio: Return relative to maximum drawdown	3.86	197.18	-193.33
Martin ratio: Return relative to average drawdown	13.98	1,895.58	-1,881.61

VLLU vs. BILZ - Sharpe Ratio Comparison

The current VLLU 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 VLLU 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

VLLU vs. BILZ - Drawdown Comparison

The maximum VLLU drawdown since its inception was -16.62%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for VLLU and BILZ.

Drawdown Indicators

	VLLU	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-16.62%	-0.52%	-16.10%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-0.02%	-6.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.17%	—
Current Drawdown Current decline from peak	-1.20%	0.00%	-1.20%
Average Drawdown Average peak-to-trough decline	-2.41%	-0.01%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	0.00%	+1.74%

Volatility

VLLU vs. BILZ - Volatility Comparison

Harbor AlphaEdge Large Cap Value ETF (VLLU) has a higher volatility of 3.94% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that VLLU'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

	VLLU	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	0.07%	+3.87%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	0.14%	+8.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.23%	0.21%	+11.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	0.52%	+14.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	0.52%	+14.30%

VLLU vs. BILZ - Expense Ratio Comparison

VLLU has a 0.25% 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

VLLU vs. BILZ - Dividend Comparison

VLLU's dividend yield for the trailing twelve months is around 1.36%, less than BILZ's 4.06% yield.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.06%	4.19%	4.95%	2.23%
VLLU Harbor AlphaEdge Large Cap Value ETF	1.36%	1.52%	0.90%	0.00%

Frequently Asked Questions

Can I hold both VLLU and BILZ in my portfolio?

VLLU and BILZ have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLLU or BILZ?

VLLU has higher volatility (3.94%) compared to BILZ (0.07%). In terms of maximum drawdown, VLLU dropped -16.62% vs BILZ's -0.52%.

Which ETF is better, VLLU or BILZ?

On 1-year performance, VLLU leads with 24.32% 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, VLLU or BILZ?

Over the 1-year period, VLLU has performed better with a 24.32% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLLU or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.25% for VLLU.

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

BILZ has the higher dividend yield at 4.06%, compared with 1.36% for VLLU.

What is the main difference between VLLU and BILZ?

VLLU is categorized as Large Cap Value Equities, while BILZ is Ultrashort Bond. They also come from different issuers: Harbor and PIMCO. Their fees differ too: 0.25% for VLLU 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.