Z-Pinch IFE (Inertial Fusion Energy) reactor designs will likely utilize high yield targets (~ 3 GJ) at low repetition rates (~ 0.1 Hz). Appropriately arranged thick liquid jets can protect the cavity walls from the target x-rays, ions, and neutrons. However, the shock waves and mechanical loadings produced by rapid heating and evaporation of incompressible liquid jets may be challenging to accommodate within a small reactor cavity. This investigation examines the possibility of using two-phase compressible (liquid/gas) jets to protect the cavity walls in high yield IFE systems, thereby mitigating the mechanical consequences of rapid energy deposition within the jets. Two-phase, free, vertical jets with different cross sections (planar, circular, and annular) were examined over wide ranges of liquid velocities and void fractions. The void fraction and bubble size distributions within the jets were measured; correlations to predict variations of the slip ratio and the Sauter mean diameter were developed. An exploding wire system was used to generate a shock wave at the center of the annular jets. Attenuation of the shock by the surrounding single- or two-phase medium was measured. The results show that stable coherent jets can be established and steadily maintained over a wide range of inlet void fractions and liquid velocities, and that significant attenuation in shock strength can be attained with relatively modest void fractions (~ 1%); the compressible two-phase jets effectively convert and dissipate mechanical energy into thermal energy within the gas bubbles. The experimental characteristics of single- and two-phase jets were compared against predictions of a state-of-art CFD code (FLUENT®). The data obtained in this investigation will allow reactor system designers to predict the behavior of single- and two-phase jets and quantify their effectiveness in mitigating the consequences of shock waves on the cavity walls in high yield IFE systems.