IUSM.DE vs. ZROZ
IUSM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds - IUSM.DE tracks the ICE US Treasury 7-10 Year while ZROZ tracks the ICE BofA Long U.S. Treasury Principal STRIPS Index. Both are passively managed. Over the past 10 years, IUSM.DE returned 0.29%/yr vs -4.21%/yr for ZROZ. A 0.58 correlation means they provide meaningful diversification when combined. IUSM.DE charges 0.07%/yr vs 0.15%/yr for ZROZ.
Performance
IUSM.DE vs. ZROZ - Performance Comparison
Loading charts...
Different Trading Currencies
IUSM.DE 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, IUSM.DE achieves a 0.22% return, which is significantly lower than ZROZ's 0.38% return. Over the past 10 years, IUSM.DE has outperformed ZROZ with an annualized return of 0.29%, while ZROZ has yielded a comparatively lower -4.21% annualized return.
IUSM.DE
- 1D
- 0.13%
- 1M
- 0.34%
- YTD
- 0.22%
- 6M
- -0.62%
- 1Y
- 1.33%
- 3Y*
- -0.48%
- 5Y*
- -0.31%
- 10Y*
- 0.29%
ZROZ
- 1D
- 0.18%
- 1M
- 1.57%
- YTD
- 0.38%
- 6M
- -2.96%
- 1Y
- -0.23%
- 3Y*
- -9.61%
- 5Y*
- -10.74%
- 10Y*
- -4.21%
IUSM.DE vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 0.22% | -4.06% | 5.00% | -0.24% | -9.67% | 4.92% | -0.18% | 11.27% | 4.84% | -10.05% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 0.38% | -13.49% | -10.65% | -1.84% | -37.65% | 1.87% | 14.30% | 23.96% | -0.99% | 0.66% |
Correlation
The correlation between IUSM.DE and ZROZ is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2009 | 0.58 |
The correlation between IUSM.DE and ZROZ shifts across timeframes, from 0.51 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IUSM.DE vs. ZROZ — Risk / Return Rank
IUSM.DE
ZROZ
IUSM.DE vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) 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.
| IUSM.DE | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.01 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | -0.02 | +0.31 |
| Martin ratioReturn relative to average drawdown | 0.74 | -0.03 | +0.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IUSM.DE | ZROZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.23 | -0.01 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | -0.45 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.03 | -0.19 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.15 | +0.12 |
Drawdowns
IUSM.DE vs. ZROZ - Drawdown Comparison
The maximum IUSM.DE drawdown since its inception was -21.40%, smaller than the maximum ZROZ drawdown of -63.96%. Use the drawdown chart below to compare losses from any high point for IUSM.DE and ZROZ.
Loading charts...
Drawdown Indicators
| IUSM.DE | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.40% | -63.96% | +42.56% |
Max Drawdown (1Y)Largest decline over 1 year | -4.45% | -14.03% | +9.58% |
Max Drawdown (3Y)Largest decline over 3 years | -10.86% | -31.27% | +20.41% |
Max Drawdown (5Y)Largest decline over 5 years | -15.69% | -58.05% | +42.36% |
Max Drawdown (10Y)Largest decline over 10 years | -21.40% | -63.96% | +42.56% |
Current DrawdownCurrent decline from peak | -17.38% | -61.86% | +44.48% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -26.04% | +15.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 6.58% | -4.79% |
Volatility
IUSM.DE vs. ZROZ - Volatility Comparison
The current volatility for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) is 1.14%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 3.74%. This indicates that IUSM.DE 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.
Loading charts...
Volatility by Period
| IUSM.DE | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 3.74% | -2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 10.69% | -6.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 15.72% | -9.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.96% | 23.84% | -14.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 22.25% | -13.92% |
IUSM.DE vs. ZROZ - Expense Ratio Comparison
IUSM.DE 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
IUSM.DE vs. ZROZ - Dividend Comparison
IUSM.DE's dividend yield for the trailing twelve months is around 3.72%, less than ZROZ's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 3.72% | 3.73% | 3.65% | 2.91% | 1.93% | 0.96% | 1.53% | 2.24% | 2.07% | 1.83% | 1.66% | 1.84% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 5.13% | 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
IUSM.DE and ZROZ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSM.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSM.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for ZROZ.
IUSM.DE tracks ICE US Treasury 7-10 Year, 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 IUSM.DE and 0.15% for ZROZ.
Find the right allocation for IUSM.DE and ZROZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer