IBGL.MI vs. ZROZ
IBGL.MI (iShares € Govt Bond 15-30yr UCITS ETF EUR Dist) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both exchange-traded funds - IBGL.MI is a European Government Bonds fund tracking the Bloomberg Euro Government Bond 30 Year Term Index, while ZROZ is a Government Bonds fund tracking the ICE BofA Long U.S. Treasury Principal STRIPS Index. Both are passively managed. Over the past 10 years, IBGL.MI returned -2.10%/yr vs -4.35%/yr for ZROZ. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
IBGL.MI vs. ZROZ - Performance Comparison
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Different Trading Currencies
IBGL.MI is traded in EUR, while ZROZ is traded in USD. To make them comparable, the ZROZ values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGL.MI achieves a -0.06% return, which is significantly lower than ZROZ's 0.12% return. Over the past 10 years, IBGL.MI has outperformed ZROZ with an annualized return of -2.10%, while ZROZ has yielded a comparatively lower -4.35% annualized return.
IBGL.MI
- 1D
- -0.95%
- 1M
- 1.07%
- YTD
- -0.06%
- 6M
- -0.97%
- 1Y
- -3.37%
- 3Y*
- -0.04%
- 5Y*
- -7.32%
- 10Y*
- -2.10%
ZROZ
- 1D
- -0.26%
- 1M
- 2.28%
- YTD
- 0.12%
- 6M
- -3.83%
- 1Y
- 1.83%
- 3Y*
- -9.84%
- 5Y*
- -10.79%
- 10Y*
- -4.35%
IBGL.MI vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGL.MI iShares € Govt Bond 15-30yr UCITS ETF EUR Dist | -0.06% | -5.53% | -0.17% | 10.21% | -34.75% | -7.00% | 11.97% | 15.43% | 3.11% | -1.15% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 0.12% | -13.49% | -10.65% | -1.84% | -37.65% | 1.87% | 14.30% | 23.96% | -0.99% | 0.66% |
Correlation
The correlation between IBGL.MI and ZROZ is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2009 | 0.46 |
The correlation between IBGL.MI and ZROZ shifts across timeframes, from 0.46 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBGL.MI vs. ZROZ — Risk / Return Rank
IBGL.MI
ZROZ
IBGL.MI vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR Dist (IBGL.MI) 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.
| IBGL.MI | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.03 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 0.13 | -0.67 |
| Martin ratioReturn relative to average drawdown | -0.98 | 0.28 | -1.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBGL.MI | ZROZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 0.12 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.54 | -0.45 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.18 | -0.20 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.15 | +0.12 |
Drawdowns
IBGL.MI vs. ZROZ - Drawdown Comparison
The maximum IBGL.MI drawdown since its inception was -43.83%, smaller than the maximum ZROZ drawdown of -63.96%. Use the drawdown chart below to compare losses from any high point for IBGL.MI and ZROZ.
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Drawdown Indicators
| IBGL.MI | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -63.96% | +20.13% |
Max Drawdown (1Y)Largest decline over 1 year | -6.26% | -14.03% | +7.77% |
Max Drawdown (3Y)Largest decline over 3 years | -12.10% | -31.27% | +19.17% |
Max Drawdown (5Y)Largest decline over 5 years | -42.23% | -58.05% | +15.82% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -63.96% | +20.13% |
Current DrawdownCurrent decline from peak | -37.45% | -61.96% | +24.51% |
Average DrawdownAverage peak-to-trough decline | -12.22% | -26.03% | +13.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 6.55% | -3.11% |
Volatility
IBGL.MI vs. ZROZ - Volatility Comparison
The current volatility for iShares € Govt Bond 15-30yr UCITS ETF EUR Dist (IBGL.MI) is 3.70%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 3.94%. This indicates that IBGL.MI 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
| IBGL.MI | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 3.94% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 7.20% | 10.72% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 15.75% | -6.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 23.85% | -10.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 22.26% | -10.76% |
IBGL.MI vs. ZROZ - Expense Ratio Comparison
Both IBGL.MI and ZROZ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBGL.MI vs. ZROZ - Dividend Comparison
IBGL.MI's dividend yield for the trailing twelve months is around 3.68%, less than ZROZ's 5.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGL.MI iShares € Govt Bond 15-30yr UCITS ETF EUR Dist | 3.68% | 3.53% | 3.18% | 2.66% | 1.32% | 0.53% | 0.74% | 1.27% | 1.50% | 1.35% | 1.48% | 1.83% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 5.15% | 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
IBGL.MI and ZROZ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBGL.MI and ZROZ have the same expense ratio: 0.15% per year.
IBGL.MI is categorized as European Government Bonds, while ZROZ is Government Bonds. IBGL.MI tracks Bloomberg Euro Government Bond 30 Year Term Index, while ZROZ tracks ICE BofA Long U.S. Treasury Principal STRIPS Index. They also come from different issuers: iShares and PIMCO.
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