BBSB vs. ZROZ
BBSB (JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds - BBSB tracks the ICE U.S. Treasury 1-3 Year Bond Index while ZROZ tracks the ICE BofA Long U.S. Treasury Principal STRIPS Index. Both are passively managed. Over the past 3 years, BBSB returned 4.23%/yr vs -6.88%/yr for ZROZ. A 0.56 correlation means they provide meaningful diversification when combined. BBSB charges 0.04%/yr vs 0.15%/yr for ZROZ.
Performance
BBSB vs. ZROZ - Performance Comparison
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Returns By Period
In the year-to-date period, BBSB achieves a 0.62% return, which is significantly lower than ZROZ's 3.17% return.
BBSB
- 1D
- 0.04%
- 1M
- 0.17%
- YTD
- 0.62%
- 6M
- 0.73%
- 1Y
- 3.02%
- 3Y*
- 4.23%
- 5Y*
- —
- 10Y*
- —
ZROZ
- 1D
- -0.20%
- 1M
- 5.75%
- YTD
- 3.17%
- 6M
- 1.28%
- 1Y
- 3.97%
- 3Y*
- -6.88%
- 5Y*
- -11.30%
- 10Y*
- -4.40%
BBSB vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF | 0.62% | 5.12% | 4.00% | 2.56% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 3.17% | -1.84% | -16.18% | -4.67% |
Correlation
The correlation between BBSB and ZROZ is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023 | 0.56 |
The correlation between BBSB and ZROZ has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.
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Return for Risk
BBSB vs. ZROZ — Risk / Return Rank
BBSB
ZROZ
BBSB vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) and PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ). 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.
| BBSB | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +3.48 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.05 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 0.28 | +3.26 |
| Martin ratioReturn relative to average drawdown | 14.15 | 0.62 | +13.53 |
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Drawdowns
BBSB vs. ZROZ - Drawdown Comparison
The maximum BBSB drawdown since its inception was -1.57%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for BBSB and ZROZ.
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Drawdown Indicators
| BBSB | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.57% | -62.93% | +61.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -14.02% | +13.16% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -28.62% | +27.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.93% | — |
Current DrawdownCurrent decline from peak | -0.10% | -58.21% | +58.11% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -24.16% | +23.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 6.42% | -6.21% |
Volatility
BBSB vs. ZROZ - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) is 0.40%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.00%. This indicates that BBSB experiences smaller price fluctuations and is considered to be less risky than ZROZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBSB | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 4.00% | -3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 0.90% | 10.93% | -10.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.27% | 15.83% | -14.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.66% | 23.84% | -22.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.66% | 22.04% | -20.38% |
BBSB vs. ZROZ - Expense Ratio Comparison
BBSB has a 0.04% expense ratio, which is lower than ZROZ's 0.15% 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%.
Dividends
BBSB vs. ZROZ - Dividend Comparison
BBSB's dividend yield for the trailing twelve months is around 3.80%, less than ZROZ's 4.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF | 3.80% | 3.69% | 4.84% | 3.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 4.94% | 4.96% | 4.58% | 3.52% | 2.76% | 1.60% | 1.68% | 2.22% | 2.06% | 2.53% | 3.00% | 2.98% |
Frequently Asked Questions
BBSB and ZROZ have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZROZ has higher volatility (4.00%) compared to BBSB (0.40%). In terms of maximum drawdown, BBSB dropped -1.57% vs ZROZ's -62.93%.
On 3-year performance, BBSB leads with 4.23% vs -6.88% for ZROZ. On fees, BBSB is cheaper at 0.04% per year. On volatility, BBSB has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BBSB has performed better with a 4.23% return vs -6.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBSB is cheaper with a 0.04% expense ratio, compared with 0.15% for ZROZ.
ZROZ has the higher dividend yield at 4.94%, compared with 3.80% for BBSB.
BBSB tracks ICE U.S. Treasury 1-3 Year Bond Index, while ZROZ tracks ICE BofA Long U.S. Treasury Principal STRIPS Index. They also come from different issuers: JPMorgan and PIMCO. Their fees differ too: 0.04% for BBSB and 0.15% for ZROZ.
BBSB currently has the higher Sharpe Ratio (2.38 vs 0.25), 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.
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