IBTR vs. ZROZ
IBTR (iShares iBonds Dec 2036 Term Treasury ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds - IBTR tracks the ICE 2036 Maturity US Treasury Index while ZROZ tracks the ICE BofA Long U.S. Treasury Principal STRIPS Index. Both are passively managed. Their 0.80 correlation means they have sometimes moved together and sometimes differently. IBTR charges 0.07%/yr vs 0.15%/yr for ZROZ.
Performance
IBTR vs. ZROZ - Performance Comparison
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Returns By Period
IBTR
- 1D
- -0.38%
- 1M
- -1.56%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
ZROZ
- 1D
- -1.24%
- 1M
- -7.20%
- 6M
- -6.41%
- YTD
- -7.23%
- 1Y
- -7.54%
- 3Y*
- -8.06%
- 5Y*
- -14.47%
- 10Y*
- -5.40%
- ALL TIME*
- 1.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $481.12K | $362.65K | $277.01K | |
| $41.31M | $45.82M | $40.38M |
IBTR vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IBTR iShares iBonds Dec 2036 Term Treasury ETF | -1.13% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | -7.63% |
Correlation
The correlation between IBTR and ZROZ is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026 | 0.80 |
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Return for Risk
IBTR vs. ZROZ — Risk / Return Rank
IBTR
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZROZ
IBTR vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2036 Term Treasury ETF (IBTR) 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.
| IBTR | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.95 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.39 | — |
| Martin ratioReturn relative to average drawdown | — | -0.82 | — |
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Drawdowns
IBTR vs. ZROZ - Drawdown Comparison
The maximum IBTR drawdown since its inception was -2.88%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for IBTR and ZROZ.
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Drawdown Indicators
| IBTR | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.88% | -62.93% | +60.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.90% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.42% | — |
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 | -2.36% | -62.42% | +60.06% |
Average DrawdownAverage peak-to-trough decline | -1.07% | -24.38% | +23.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.18% | — |
Volatility
IBTR vs. ZROZ - Volatility Comparison
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Volatility by Period
| IBTR | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.20% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 15.45% | -10.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 23.76% | -18.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 21.96% | -16.68% |
IBTR vs. ZROZ - Expense Ratio Comparison
IBTR 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
IBTR vs. ZROZ - Dividend Comparison
IBTR's dividend yield for the trailing twelve months is around 1.01%, less than ZROZ's 5.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTR iShares iBonds Dec 2036 Term Treasury ETF | 1.01% | 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 | 5.59% | 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
IBTR and ZROZ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTR is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTR is cheaper with a 0.07% expense ratio, compared with 0.15% for ZROZ.
ZROZ has the higher dividend yield at 5.59%, compared with 1.01% for IBTR.
IBTR tracks ICE 2036 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 IBTR and 0.15% for ZROZ.
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