WCME vs. BILZ

Last updated Jun 4, 2026

WCME (First Trust WCM Developing World Equity ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - WCME is a Emerging Markets Equities fund tracking the Actively Managed, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. WCME is passively managed, while BILZ is actively managed. Over the past year, WCME returned 30.37% vs 3.91% for BILZ. At a correlation of -0.07, they often move in opposite directions. WCME charges 0.95%/yr vs 0.14%/yr for BILZ.

Performance

WCME vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust WCM Developing World Equity ETF (WCME) 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, WCME achieves a 14.93% return, which is significantly higher than BILZ's 1.47% return.

WCME

• 1D: -2.35%
• 1M: 4.53%
• YTD: 14.93%
• 6M: 15.02%
• 1Y: 30.37%
• 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)

WCME vs. BILZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WCME First Trust WCM Developing World Equity ETF	14.93%	35.19%	-10.72%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.47%	4.21%	1.08%

Correlation

The correlation between WCME 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 Oct 8, 2024	-0.07

Return for Risk

WCME vs. BILZ — Risk / Return Rank

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

WCME

WCME Risk / Return Rank: 43
WCME Sharpe Ratio Rank: 44
WCME Sortino Ratio Rank: 42
WCME Omega Ratio Rank: 44
WCME Calmar Ratio Rank: 40
WCME Martin Ratio Rank: 44

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.

WCME vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust WCM Developing World Equity ETF (WCME) 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.

	WCME	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	1.51	19.09	-17.57
Sortino ratio: Return per unit of downside risk	2.08	125.25	-123.18
Omega ratio: Gain probability vs. loss probability	1.28	53.31	-52.03
Calmar ratio: Return relative to maximum drawdown	1.95	198.55	-196.60
Martin ratio: Return relative to average drawdown	6.96	2,000.92	-1,993.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCME vs. BILZ - Sharpe Ratio Comparison

The current WCME Sharpe Ratio is 1.51, which is lower than the BILZ Sharpe Ratio of 19.09. The chart below compares the historical Sharpe Ratios of WCME 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

	WCME	BILZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	19.09	-17.57
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	10.48	-9.36

Drawdowns

WCME vs. BILZ - Drawdown Comparison

The maximum WCME drawdown since its inception was -15.64%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for WCME and BILZ.

Drawdown Indicators

	WCME	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.64%	-0.52%	-15.12%
Max Drawdown (1Y) Largest decline over 1 year	-15.64%	-0.02%	-15.62%
Current Drawdown Current decline from peak	-2.35%	0.00%	-2.35%
Average Drawdown Average peak-to-trough decline	-3.67%	-0.01%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	0.00%	+4.38%

Volatility

WCME vs. BILZ - Volatility Comparison

First Trust WCM Developing World Equity ETF (WCME) has a higher volatility of 8.11% compared to PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) at 0.07%. This indicates that WCME'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

	WCME	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.11%	0.07%	+8.04%
Volatility (6M) Calculated over the trailing 6-month period	17.23%	0.14%	+17.09%
Volatility (1Y) Calculated over the trailing 1-year period	20.16%	0.21%	+19.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	0.43%	+19.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	0.43%	+19.31%

WCME vs. BILZ - Expense Ratio Comparison

WCME has a 0.95% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

WCME vs. BILZ - Dividend Comparison

WCME's dividend yield for the trailing twelve months is around 0.60%, less 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%
WCME First Trust WCM Developing World Equity ETF	0.60%	0.68%	0.53%	0.00%

Frequently Asked Questions

Can I hold both WCME and BILZ in my portfolio?

WCME 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, WCME or BILZ?

WCME has higher volatility (8.11%) compared to BILZ (0.07%). In terms of maximum drawdown, WCME dropped -15.64% vs BILZ's -0.52%.

Which ETF is better, WCME or BILZ?

On 1-year performance, WCME leads with 30.37% 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, WCME or BILZ?

Over the 1-year period, WCME has performed better with a 30.37% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCME or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.95% for WCME.

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

BILZ has the higher dividend yield at 4.07%, compared with 0.60% for WCME.

What is the main difference between WCME and BILZ?

WCME is categorized as Emerging Markets Equities, while BILZ is Ultrashort Bond. They also come from different issuers: First Trust and PIMCO. Their fees differ too: 0.95% for WCME and 0.14% for BILZ.

Which has better risk-adjusted returns?

BILZ currently has the higher Sharpe Ratio (19.09 vs 1.51), 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.