LFBE vs. GOVZ

Last updated Jun 25, 2026

LFBE (LifeX 2065 Longevity Income ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds. LFBE is actively managed, while GOVZ is passively managed. Over the past year, LFBE returned 4.10% vs 4.27% for GOVZ. With a 0.97 correlation, they move nearly in lockstep. LFBE charges 0.25%/yr vs 0.15%/yr for GOVZ.

Performance

LFBE vs. GOVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2065 Longevity Income ETF (LFBE) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LFBE achieves a 1.68% return, which is significantly lower than GOVZ's 3.57% return.

LFBE

• 1D: 1.17%
• 1M: 3.14%
• YTD: 1.68%
• 6M: 0.97%
• 1Y: 4.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOVZ

• 1D: 2.29%
• 1M: 6.77%
• YTD: 3.57%
• 6M: 1.48%
• 1Y: 4.27%
• 3Y*: -6.85%
• 5Y*: -11.18%
• 10Y*: —

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

LFBE vs. GOVZ - Yearly Performance Comparison

	2026 (YTD)	2025
LFBE LifeX 2065 Longevity Income ETF	1.68%	5.14%
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	3.57%	-1.31%

Correlation

The correlation between LFBE and GOVZ is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025	0.97

The correlation between LFBE and GOVZ has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

LFBE vs. GOVZ — Risk / Return Rank

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

LFBE

LFBE Risk / Return Rank: 16
LFBE Sharpe Ratio Rank: 17
LFBE Sortino Ratio Rank: 16
LFBE Omega Ratio Rank: 15
LFBE Calmar Ratio Rank: 16
LFBE Martin Ratio Rank: 17

GOVZ

GOVZ Risk / Return Rank: 12
GOVZ Sharpe Ratio Rank: 13
GOVZ Sortino Ratio Rank: 12
GOVZ Omega Ratio Rank: 11
GOVZ Calmar Ratio Rank: 12
GOVZ 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.

LFBE vs. GOVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2065 Longevity Income ETF (LFBE) 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.

	LFBE	GOVZ	Difference
Sharpe ratio: Return per unit of total volatility	0.50	0.27	+0.23
Sortino ratio: Return per unit of downside risk	0.79	0.51	+0.28
Omega ratio: Gain probability vs. loss probability	1.09	1.06	+0.03
Calmar ratio: Return relative to maximum drawdown	0.61	0.30	+0.31
Martin ratio: Return relative to average drawdown	1.52	0.66	+0.86

LFBE vs. GOVZ - Sharpe Ratio Comparison

The current LFBE Sharpe Ratio is 0.50, which is higher than the GOVZ Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of LFBE and GOVZ, 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

LFBE vs. GOVZ - Drawdown Comparison

The maximum LFBE drawdown since its inception was -7.65%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for LFBE and GOVZ.

Drawdown Indicators

	LFBE	GOVZ	Difference
Max Drawdown Largest peak-to-trough decline	-7.65%	-59.65%	+52.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.76%	-14.16%	+7.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-57.63%	—
Current Drawdown Current decline from peak	-2.12%	-54.49%	+52.37%
Average Drawdown Average peak-to-trough decline	-2.91%	-40.04%	+37.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	6.51%	-3.80%

Volatility

LFBE vs. GOVZ - Volatility Comparison

The current volatility for LifeX 2065 Longevity Income ETF (LFBE) is 2.18%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.06%. This indicates that LFBE 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.

Volatility by Period

	LFBE	GOVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.18%	4.06%	-1.88%
Volatility (6M) Calculated over the trailing 6-month period	5.94%	10.91%	-4.97%
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	15.89%	-7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.33%	23.88%	-14.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.33%	23.29%	-13.96%

LFBE vs. GOVZ - Expense Ratio Comparison

LFBE 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

LFBE vs. GOVZ - Dividend Comparison

LFBE's dividend yield for the trailing twelve months is around 8.12%, more than GOVZ's 4.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	4.95%	5.00%	4.68%	3.84%	3.69%	1.76%	0.39%
LFBE LifeX 2065 Longevity Income ETF	8.12%	12.22%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LFBE and GOVZ in my portfolio?

With a correlation of 0.97, LFBE 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.

Which is riskier, LFBE or GOVZ?

GOVZ has higher volatility (4.06%) compared to LFBE (2.18%). In terms of maximum drawdown, LFBE dropped -7.65% vs GOVZ's -59.65%.

Which ETF is better, LFBE or GOVZ?

On 1-year performance, GOVZ leads with 4.27% vs 4.10% for LFBE. On fees, GOVZ is cheaper at 0.15% per year. On volatility, LFBE has been the lower-risk option at 2.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFBE or GOVZ?

Over the 1-year period, GOVZ has performed better with a 4.27% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFBE or GOVZ?

GOVZ is cheaper with a 0.15% expense ratio, compared with 0.25% for LFBE.

Which ETF pays a higher dividend yield, LFBE or GOVZ?

LFBE has the higher dividend yield at 8.12%, compared with 4.95% for GOVZ.

What is the main difference between LFBE and GOVZ?

They also come from different issuers: Stone Ridge and iShares. Their fees differ too: 0.25% for LFBE and 0.15% for GOVZ.

Which has better risk-adjusted returns?

LFBE currently has the higher Sharpe Ratio (0.50 vs 0.27), 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.