LFAW vs. GOVZ
LFAW (LifeX 2060 Longevity Income ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds. LFAW is actively managed, while GOVZ is passively managed. Over the past year, LFAW returned 4.36% vs 3.35% for GOVZ. Their correlation of 0.94 suggests significant overlap in exposure. LFAW charges 0.25%/yr vs 0.15%/yr for GOVZ.
Performance
LFAW vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, LFAW achieves a 0.21% return, which is significantly lower than GOVZ's 1.03% return.
LFAW
- 1D
- -0.56%
- 1M
- 1.62%
- YTD
- 0.21%
- 6M
- 0.18%
- 1Y
- 4.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOVZ
- 1D
- -1.16%
- 1M
- 4.15%
- YTD
- 1.03%
- 6M
- 0.48%
- 1Y
- 3.35%
- 3Y*
- -7.62%
- 5Y*
- -11.84%
- 10Y*
- —
LFAW vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LFAW LifeX 2060 Longevity Income ETF | 0.21% | 6.00% | -9.41% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 1.03% | -1.81% | -18.27% |
Correlation
The correlation between LFAW and GOVZ is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024 | 0.94 |
The correlation between LFAW and GOVZ has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
LFAW vs. GOVZ — Risk / Return Rank
LFAW
GOVZ
LFAW vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LifeX 2060 Longevity Income ETF (LFAW) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.
| LFAW | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.05 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.69 | 0.24 | +0.45 |
| Martin ratioReturn relative to average drawdown | 1.77 | 0.52 | +1.25 |
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Drawdowns
LFAW vs. GOVZ - Drawdown Comparison
The maximum LFAW drawdown since its inception was -11.37%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for LFAW and GOVZ.
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Drawdown Indicators
| LFAW | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.37% | -59.65% | +48.28% |
Max Drawdown (1Y)Largest decline over 1 year | -6.34% | -14.16% | +7.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.63% | — |
Current DrawdownCurrent decline from peak | -3.78% | -55.61% | +51.83% |
Average DrawdownAverage peak-to-trough decline | -5.40% | -40.02% | +34.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 6.48% | -4.01% |
Volatility
LFAW vs. GOVZ - Volatility Comparison
The current volatility for LifeX 2060 Longevity Income ETF (LFAW) is 1.82%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 3.62%. This indicates that LFAW experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LFAW | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 3.62% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 5.46% | 10.72% | -5.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.47% | 15.76% | -8.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 23.86% | -14.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.94% | 23.29% | -14.35% |
LFAW vs. GOVZ - Expense Ratio Comparison
LFAW has a 0.25% expense ratio, which is higher than GOVZ'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
LFAW vs. GOVZ - Dividend Comparison
LFAW's dividend yield for the trailing twelve months is around 6.42%, more than GOVZ's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.08% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
LFAW LifeX 2060 Longevity Income ETF | 6.42% | 9.85% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, LFAW and GOVZ 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.
GOVZ has higher volatility (3.62%) compared to LFAW (1.82%). In terms of maximum drawdown, LFAW dropped -11.37% vs GOVZ's -59.65%.
On 1-year performance, LFAW leads with 4.36% vs 3.35% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, LFAW has been the lower-risk option at 1.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LFAW has performed better with a 4.36% return vs 3.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVZ is cheaper with a 0.15% expense ratio, compared with 0.25% for LFAW.
LFAW has the higher dividend yield at 6.42%, compared with 5.08% for GOVZ.
They also come from different issuers: Stone Ridge and iShares. Their fees differ too: 0.25% for LFAW and 0.15% for GOVZ.
LFAW currently has the higher Sharpe Ratio (0.59 vs 0.21), 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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