LDUR vs. ZROZ

Last updated Jun 4, 2026

LDUR (PIMCO Enhanced Low Duration Active ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both exchange-traded funds - LDUR is a Short-Term Bond fund actively managed by PIMCO, while ZROZ is a Government Bonds fund tracking the ICE BofA Long U.S. Treasury Principal STRIPS Index. LDUR is actively managed, while ZROZ is passively managed. Over the past 10 years, LDUR returned 2.43%/yr vs -4.15%/yr for ZROZ. At a 0.28 correlation, their price movements are largely independent. LDUR charges 0.54%/yr vs 0.15%/yr for ZROZ.

Performance

LDUR vs. ZROZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Low Duration Active ETF (LDUR) and PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDUR achieves a 0.91% return, which is significantly higher than ZROZ's -1.07% return. Over the past 10 years, LDUR has outperformed ZROZ with an annualized return of 2.43%, while ZROZ has yielded a comparatively lower -4.15% annualized return.

LDUR

• 1D: -0.02%
• 1M: 0.15%
• YTD: 0.91%
• 6M: 1.29%
• 1Y: 4.37%
• 3Y*: 5.11%
• 5Y*: 2.23%
• 10Y*: 2.43%

ZROZ

• 1D: -0.48%
• 1M: 1.55%
• YTD: -1.07%
• 6M: -4.36%
• 1Y: 3.89%
• 3Y*: -7.39%
• 5Y*: -11.62%
• 10Y*: -4.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LDUR vs. ZROZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LDUR PIMCO Enhanced Low Duration Active ETF	0.91%	5.76%	5.14%	4.78%	-4.23%	-0.55%	4.49%	4.27%	1.05%	2.06%
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	-1.07%	-1.84%	-16.18%	1.19%	-41.28%	-5.22%	24.57%	21.22%	-5.43%	14.77%

Correlation

The correlation between LDUR and ZROZ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jan 24, 2014	0.28

Over the past year, LDUR and ZROZ have become more correlated (0.48) than their long-term average of 0.28, meaning their price movements have been converging.

Return for Risk

LDUR vs. ZROZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LDUR

LDUR Risk / Return Rank: 88
LDUR Sharpe Ratio Rank: 85
LDUR Sortino Ratio Rank: 91
LDUR Omega Ratio Rank: 88
LDUR Calmar Ratio Rank: 85
LDUR Martin Ratio Rank: 92

ZROZ

ZROZ Risk / Return Rank: 12
ZROZ Sharpe Ratio Rank: 12
ZROZ Sortino Ratio Rank: 12
ZROZ Omega Ratio Rank: 11
ZROZ Calmar Ratio Rank: 12
ZROZ Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LDUR vs. ZROZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Low Duration Active ETF (LDUR) 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.

	LDUR	ZROZ	Difference
Sharpe ratio Return per unit of total volatility	2.83	0.24	+2.59
Sortino ratio Return per unit of downside risk	4.32	0.47	+3.85
Omega ratio Gain probability vs. loss probability	1.56	1.05	+0.51
Calmar ratio Return relative to maximum drawdown	4.70	0.28	+4.42
Martin ratio Return relative to average drawdown	22.64	0.64	+22.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LDUR vs. ZROZ - Sharpe Ratio Comparison

The current LDUR Sharpe Ratio is 2.83, which is higher than the ZROZ Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of LDUR and ZROZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LDUR	ZROZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	0.24	+2.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	-0.49	+1.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	-0.19	+1.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.09	+0.78

Drawdowns

LDUR vs. ZROZ - Drawdown Comparison

The maximum LDUR drawdown since its inception was -8.68%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for LDUR and ZROZ.

Drawdown Indicators

	LDUR	ZROZ	Difference
Max Drawdown Largest peak-to-trough decline	-8.68%	-62.93%	+54.25%
Max Drawdown (1Y) Largest decline over 1 year	-0.93%	-14.02%	+13.09%
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	-28.62%	+27.45%
Max Drawdown (5Y) Largest decline over 5 years	-6.75%	-57.98%	+51.23%
Max Drawdown (10Y) Largest decline over 10 years	-8.68%	-62.93%	+54.25%
Current Drawdown Current decline from peak	-0.04%	-59.93%	+59.89%
Average Drawdown Average peak-to-trough decline	-0.85%	-24.04%	+23.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	6.12%	-5.93%

Volatility

LDUR vs. ZROZ - Volatility Comparison

The current volatility for PIMCO Enhanced Low Duration Active ETF (LDUR) is 0.44%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.46%. This indicates that LDUR 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.

Volatility by Period

	LDUR	ZROZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	4.46%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	1.08%	10.54%	-9.46%
Volatility (1Y) Calculated over the trailing 1-year period	1.55%	16.25%	-14.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.03%	23.90%	-21.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.77%	22.06%	-19.29%

LDUR vs. ZROZ - Expense Ratio Comparison

LDUR has a 0.54% expense ratio, which is higher than ZROZ's 0.15% expense ratio.

Dividends

LDUR vs. ZROZ - Dividend Comparison

LDUR's dividend yield for the trailing twelve months is around 4.35%, less than ZROZ's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDUR PIMCO Enhanced Low Duration Active ETF	4.35%	4.60%	4.77%	4.11%	2.22%	0.90%	2.15%	3.14%	2.66%	2.08%	1.85%	2.92%
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

Can I hold both LDUR and ZROZ in my portfolio?

LDUR and ZROZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LDUR or ZROZ?

ZROZ has higher volatility (4.46%) compared to LDUR (0.44%). In terms of maximum drawdown, LDUR dropped -8.68% vs ZROZ's -62.93%.

Which ETF is better, LDUR or ZROZ?

On 10-year performance, LDUR leads with 2.43% vs -4.15% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, LDUR has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LDUR or ZROZ?

Over the 10-year period, LDUR has performed better with a 2.43% return vs -4.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LDUR or ZROZ?

ZROZ is cheaper with a 0.15% expense ratio, compared with 0.54% for LDUR.

Which ETF pays a higher dividend yield, LDUR or ZROZ?

ZROZ has the higher dividend yield at 5.15%, compared with 4.35% for LDUR.

What is the main difference between LDUR and ZROZ?

LDUR is categorized as Short-Term Bond, while ZROZ is Government Bonds. Their fees differ too: 0.54% for LDUR and 0.15% for ZROZ.

Which has better risk-adjusted returns?

LDUR currently has the higher Sharpe Ratio (2.83 vs 0.24), 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.