LFAI vs. ZROZ

Last updated Aug 1, 2026

LFAI (LifeX 2050 Longevity Income ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds. LFAI is actively managed, while ZROZ is passively managed. Over the past year, LFAI returned -0.64% vs -7.54% for ZROZ. Their correlation of 0.92 means they have usually moved in the same direction. LFAI charges 0.25%/yr vs 0.15%/yr for ZROZ.

Performance

LFAI vs. ZROZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2050 Longevity Income ETF (LFAI) 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, LFAI achieves a -2.25% return, which is significantly higher than ZROZ's -7.23% return.

LFAI

• 1D: -0.53%
• 1M: -2.37%
• 6M: -2.26%
• YTD: -2.25%
• 1Y: -0.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.00%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LFAI LifeX 2050 Longevity Income ETF	$3.88K	$4.56K	$38.61K
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	$41.31M	$45.82M	$40.38M

LFAI vs. ZROZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LFAI LifeX 2050 Longevity Income ETF	-2.25%	6.06%	-7.12%
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	-7.23%	-1.84%	-17.95%

Correlation

The correlation between LFAI and ZROZ is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024	0.92

The correlation between LFAI and ZROZ has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

LFAI vs. ZROZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LFAI

LFAI Risk / Return Rank: 12
LFAI Sharpe Ratio Rank: 13
LFAI Sortino Ratio Rank: 11
LFAI Omega Ratio Rank: 11
LFAI Calmar Ratio Rank: 12
LFAI Martin Ratio Rank: 12

ZROZ

ZROZ Risk / Return Rank: 6
ZROZ Sharpe Ratio Rank: 6
ZROZ Sortino Ratio Rank: 6
ZROZ Omega Ratio Rank: 6
ZROZ Calmar Ratio Rank: 6
ZROZ Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LFAI vs. ZROZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2050 Longevity Income ETF (LFAI) 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.

	LFAI	ZROZ	Difference
Sharpe ratio: Return per unit of total volatility	0.08	-0.38	+0.46
Sortino ratio: Return per unit of downside risk	0.16	-0.44	+0.60
Omega ratio: Gain probability vs. loss probability	1.02	0.95	+0.07
Calmar ratio: Return relative to maximum drawdown	0.09	-0.39	+0.49
Martin ratio: Return relative to average drawdown	0.22	-0.82	+1.03

LFAI vs. ZROZ - Sharpe Ratio Comparison

The current LFAI Sharpe Ratio is 0.08, which is higher than the ZROZ Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of LFAI 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.

Drawdowns

LFAI vs. ZROZ - Drawdown Comparison

The maximum LFAI drawdown since its inception was -8.64%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for LFAI and ZROZ.

Drawdown Indicators

	LFAI	ZROZ	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-62.93%	+54.29%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-14.90%	+9.60%
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 Drawdown Current decline from peak	-5.14%	-62.42%	+57.28%
Average Drawdown Average peak-to-trough decline	-3.51%	-24.38%	+20.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	7.18%	-4.87%

Volatility

LFAI vs. ZROZ - Volatility Comparison

The current volatility for LifeX 2050 Longevity Income ETF (LFAI) is 1.59%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.20%. This indicates that LFAI 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

	LFAI	ZROZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	4.20%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	4.73%	11.11%	-6.38%
Volatility (1Y) Calculated over the trailing 1-year period	6.13%	15.45%	-9.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.07%	23.76%	-16.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.07%	21.96%	-14.89%

LFAI vs. ZROZ - Expense Ratio Comparison

LFAI has a 0.25% expense ratio, which is higher than ZROZ's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LFAI vs. ZROZ - Dividend Comparison

LFAI's dividend yield for the trailing twelve months is around 13.71%, more than ZROZ's 5.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LFAI LifeX 2050 Longevity Income ETF	13.71%	16.48%	1.91%	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

Can I hold both LFAI and ZROZ in my portfolio?

With a correlation of 0.91, LFAI 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.

Which is riskier, LFAI or ZROZ?

ZROZ has higher volatility (4.20%) compared to LFAI (1.59%). In terms of maximum drawdown, LFAI dropped -8.64% vs ZROZ's -62.93%.

Which ETF is better, LFAI or ZROZ?

On 1-year performance, LFAI leads with -0.64% vs -7.54% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, LFAI has been the lower-risk option at 1.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFAI or ZROZ?

Over the 1-year period, LFAI has performed better with a -0.64% return vs -7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFAI or ZROZ?

ZROZ is cheaper with a 0.15% expense ratio, compared with 0.25% for LFAI.

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

LFAI has the higher dividend yield at 13.71%, compared with 5.59% for ZROZ.

What is the main difference between LFAI and ZROZ?

They also come from different issuers: Stone Ridge and PIMCO. Their fees differ too: 0.25% for LFAI and 0.15% for ZROZ.

Which has better risk-adjusted returns?

LFAI currently has the higher Sharpe Ratio (0.08 vs -0.38), 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.