LONZ vs. STPZ

Last updated Jun 4, 2026

LONZ (PIMCO Senior Loan Active Exchange-Traded Fund) and STPZ (PIMCO 1-5 Year US TIPS Index ETF) are both exchange-traded funds - LONZ is a Bank Loan fund actively managed by PIMCO, while STPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (1-5 Y). LONZ is actively managed, while STPZ is passively managed. Over the past 3 years, LONZ returned 8.28%/yr vs 5.03%/yr for STPZ. At a 0.12 correlation, their price movements are largely independent. LONZ charges 0.62%/yr vs 0.20%/yr for STPZ.

Performance

LONZ vs. STPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) and PIMCO 1-5 Year US TIPS Index ETF (STPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with LONZ at 1.79% and STPZ at 1.79%.

LONZ

• 1D: -0.05%
• 1M: 0.43%
• YTD: 1.79%
• 6M: 1.74%
• 1Y: 5.52%
• 3Y*: 8.28%
• 5Y*: —
• 10Y*: —

STPZ

• 1D: -0.00%
• 1M: -0.09%
• YTD: 1.79%
• 6M: 1.77%
• 1Y: 4.51%
• 3Y*: 5.03%
• 5Y*: 2.90%
• 10Y*: 2.89%

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

LONZ vs. STPZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	1.79%	5.05%	9.85%	12.56%	0.80%
STPZ PIMCO 1-5 Year US TIPS Index ETF	1.79%	6.40%	4.30%	4.28%	-3.86%

Correlation

The correlation between LONZ and STPZ is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jun 10, 2022	0.12

The correlation between LONZ and STPZ shifts across timeframes, from -0.04 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LONZ vs. STPZ — Risk / Return Rank

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

LONZ

LONZ Risk / Return Rank: 72
LONZ Sharpe Ratio Rank: 75
LONZ Sortino Ratio Rank: 76
LONZ Omega Ratio Rank: 90
LONZ Calmar Ratio Rank: 55
LONZ Martin Ratio Rank: 62

STPZ

STPZ Risk / Return Rank: 82
STPZ Sharpe Ratio Rank: 76
STPZ Sortino Ratio Rank: 86
STPZ Omega Ratio Rank: 80
STPZ Calmar Ratio Rank: 86
STPZ Martin Ratio Rank: 81

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.

LONZ vs. STPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) and PIMCO 1-5 Year US TIPS Index ETF (STPZ). 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.

	LONZ	STPZ	Difference
Sharpe ratio Return per unit of total volatility	2.46	2.49	-0.03
Sortino ratio Return per unit of downside risk	3.42	3.94	-0.52
Omega ratio Gain probability vs. loss probability	1.59	1.49	+0.11
Calmar ratio Return relative to maximum drawdown	2.73	4.87	-2.14
Martin ratio Return relative to average drawdown	11.31	16.28	-4.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LONZ vs. STPZ - Sharpe Ratio Comparison

The current LONZ Sharpe Ratio is 2.46, which is comparable to the STPZ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of LONZ and STPZ, 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

	LONZ	STPZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.49	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.34	0.90	+1.44

Drawdowns

LONZ vs. STPZ - Drawdown Comparison

The maximum LONZ drawdown since its inception was -4.19%, smaller than the maximum STPZ drawdown of -6.77%. Use the drawdown chart below to compare losses from any high point for LONZ and STPZ.

Drawdown Indicators

	LONZ	STPZ	Difference
Max Drawdown Largest peak-to-trough decline	-4.19%	-6.77%	+2.58%
Max Drawdown (1Y) Largest decline over 1 year	-2.03%	-0.93%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-4.19%	-1.35%	-2.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-6.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-6.77%	—
Current Drawdown Current decline from peak	-0.05%	-0.11%	+0.06%
Average Drawdown Average peak-to-trough decline	-0.47%	-1.31%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.28%	+0.21%

Volatility

LONZ vs. STPZ - Volatility Comparison

PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) has a higher volatility of 0.54% compared to PIMCO 1-5 Year US TIPS Index ETF (STPZ) at 0.46%. This indicates that LONZ's price experiences larger fluctuations and is considered to be riskier than STPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LONZ	STPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	0.46%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.05%	1.20%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	2.26%	1.83%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.21%	3.29%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.21%	2.98%	+0.23%

LONZ vs. STPZ - Expense Ratio Comparison

LONZ has a 0.62% expense ratio, which is higher than STPZ's 0.20% expense ratio.

Dividends

LONZ vs. STPZ - Dividend Comparison

LONZ's dividend yield for the trailing twelve months is around 8.14%, more than STPZ's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	8.14%	6.60%	8.16%	8.29%	3.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STPZ PIMCO 1-5 Year US TIPS Index ETF	4.10%	3.65%	1.97%	1.63%	5.88%	3.65%	1.86%	1.76%	2.23%	1.51%	0.65%	0.49%

Frequently Asked Questions

Can I hold both LONZ and STPZ in my portfolio?

LONZ and STPZ have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LONZ or STPZ?

LONZ has higher volatility (0.54%) compared to STPZ (0.46%). In terms of maximum drawdown, LONZ dropped -4.19% vs STPZ's -6.77%.

Which ETF is better, LONZ or STPZ?

On 3-year performance, LONZ leads with 8.28% vs 5.03% for STPZ. On fees, STPZ is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LONZ or STPZ?

Over the 3-year period, LONZ has performed better with a 8.28% return vs 5.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LONZ or STPZ?

STPZ is cheaper with a 0.20% expense ratio, compared with 0.62% for LONZ.

Which ETF pays a higher dividend yield, LONZ or STPZ?

LONZ has the higher dividend yield at 8.14%, compared with 4.10% for STPZ.

What is the main difference between LONZ and STPZ?

LONZ is categorized as Bank Loan, while STPZ is Inflation-Protected Bonds. Their fees differ too: 0.62% for LONZ and 0.20% for STPZ.

Which has better risk-adjusted returns?

STPZ currently has the higher Sharpe Ratio (2.49 vs 2.46), 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.