LFAO vs. ZROZ
LFAO (LifeX 2055 Longevity Income ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds. LFAO is actively managed, while ZROZ is passively managed. Over the past year, LFAO returned -1.13% vs -7.54% for ZROZ. Their correlation of 0.94 means they have usually moved in the same direction. LFAO charges 0.25%/yr vs 0.15%/yr for ZROZ.
Performance
LFAO vs. ZROZ - Performance Comparison
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Returns By Period
In the year-to-date period, LFAO achieves a -2.61% return, which is significantly higher than ZROZ's -7.23% return.
LFAO
- 1D
- -0.60%
- 1M
- -2.77%
- 6M
- -2.59%
- YTD
- -2.61%
- 1Y
- -1.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.10%
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) |
|---|---|---|---|
| $25.23K | $13.84K | $16.25K | |
| $41.31M | $45.82M | $40.38M |
LFAO vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LFAO LifeX 2055 Longevity Income ETF | -2.61% | 5.65% | -8.36% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | -7.23% | -1.84% | -17.95% |
Correlation
The correlation between LFAO and ZROZ is 0.94, 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. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024 | 0.94 |
The correlation between LFAO and ZROZ has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
LFAO vs. ZROZ — Risk / Return Rank
LFAO
ZROZ
LFAO vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LifeX 2055 Longevity Income ETF (LFAO) 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.
| LFAO | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.95 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.01 | -0.39 | +0.40 |
| Martin ratioReturn relative to average drawdown | 0.01 | -0.82 | +0.83 |
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Drawdowns
LFAO vs. ZROZ - Drawdown Comparison
The maximum LFAO drawdown since its inception was -10.12%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for LFAO and ZROZ.
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Drawdown Indicators
| LFAO | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.12% | -62.93% | +52.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.86% | -14.90% | +9.04% |
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 | -5.78% | -62.42% | +56.64% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -24.38% | +19.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 7.18% | -4.59% |
Volatility
LFAO vs. ZROZ - Volatility Comparison
The current volatility for LifeX 2055 Longevity Income ETF (LFAO) is 1.78%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.20%. This indicates that LFAO 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
| LFAO | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 4.20% | -2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 11.11% | -5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.83% | 15.45% | -8.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 23.76% | -15.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 21.96% | -13.98% |
LFAO vs. ZROZ - Expense Ratio Comparison
LFAO 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
LFAO vs. ZROZ - Dividend Comparison
LFAO's dividend yield for the trailing twelve months is around 11.20%, more than ZROZ's 5.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LFAO LifeX 2055 Longevity Income ETF | 11.20% | 14.33% | 1.64% | 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
With a correlation of 0.94, LFAO 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.
ZROZ has higher volatility (4.20%) compared to LFAO (1.78%). In terms of maximum drawdown, LFAO dropped -10.12% vs ZROZ's -62.93%.
On 1-year performance, LFAO leads with -1.13% vs -7.54% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, LFAO has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LFAO has performed better with a -1.13% return vs -7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZROZ is cheaper with a 0.15% expense ratio, compared with 0.25% for LFAO.
LFAO has the higher dividend yield at 11.20%, compared with 5.59% for ZROZ.
They also come from different issuers: Stone Ridge and PIMCO. Their fees differ too: 0.25% for LFAO and 0.15% for ZROZ.
LFAO currently has the higher Sharpe Ratio (0.00 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.
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