IBGC vs. ZROZ
IBGC (iShares iBonds Dec 2046 Term Treasury ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds - IBGC tracks the ICE 2046 Maturity US Treasury Index while ZROZ tracks the ICE BofA Long U.S. Treasury Principal STRIPS Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. IBGC charges 0.07%/yr vs 0.15%/yr for ZROZ.
Performance
IBGC vs. ZROZ - Performance Comparison
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Returns By Period
IBGC
- 1D
- 0.10%
- 1M
- 2.56%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZROZ
- 1D
- -0.34%
- 1M
- 4.96%
- YTD
- 2.83%
- 6M
- 1.61%
- 1Y
- 2.83%
- 3Y*
- -6.94%
- 5Y*
- -11.36%
- 10Y*
- -4.43%
IBGC vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IBGC iShares iBonds Dec 2046 Term Treasury ETF | 2.82% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 2.38% |
Correlation
The correlation between IBGC and ZROZ is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026 | 0.90 |
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Return for Risk
IBGC vs. ZROZ — Risk / Return Rank
IBGC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZROZ
IBGC vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2046 Term Treasury ETF (IBGC) 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.
| IBGC | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.04 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.20 | — |
| Martin ratioReturn relative to average drawdown | — | 0.44 | — |
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Drawdowns
IBGC vs. ZROZ - Drawdown Comparison
The maximum IBGC drawdown since its inception was -4.29%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for IBGC and ZROZ.
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Drawdown Indicators
| IBGC | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.29% | -62.93% | +58.64% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.62% | — |
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 | 0.00% | -58.35% | +58.35% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -24.17% | +23.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.43% | — |
Volatility
IBGC vs. ZROZ - Volatility Comparison
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Volatility by Period
| IBGC | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.04% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.93% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.43% | 15.84% | -7.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 23.83% | -15.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.43% | 21.99% | -13.56% |
IBGC vs. ZROZ - Expense Ratio Comparison
IBGC has a 0.07% 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
IBGC vs. ZROZ - Dividend Comparison
IBGC's dividend yield for the trailing twelve months is around 0.79%, less than ZROZ's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGC iShares iBonds Dec 2046 Term Treasury ETF | 0.79% | 0.00% | 0.00% | 0.00% | 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 | 4.95% | 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
With a correlation of 0.90, IBGC and ZROZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IBGC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBGC is cheaper with a 0.07% expense ratio, compared with 0.15% for ZROZ.
ZROZ has the higher dividend yield at 4.95%, compared with 0.79% for IBGC.
IBGC tracks ICE 2046 Maturity US Treasury Index, while ZROZ tracks ICE BofA Long U.S. Treasury Principal STRIPS Index. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.07% for IBGC and 0.15% for ZROZ.
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