RVER vs. ZROZ

Last updated Aug 5, 2026

RVER (Trenchless Fund ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both exchange-traded funds - RVER is a Large Cap Blend Equities fund actively managed by River1, while ZROZ is a Government Bonds fund tracking the ICE BofA Long U.S. Treasury Principal STRIPS Index. RVER is actively managed, while ZROZ is passively managed. Over the past year, RVER returned 19.17% vs -6.42% for ZROZ. Their 0.10 correlation means their historical movements had little consistent relationship. RVER charges 0.65%/yr vs 0.15%/yr for ZROZ.

Performance

RVER vs. ZROZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trenchless Fund ETF (RVER) 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, RVER achieves a 17.32% return, which is significantly higher than ZROZ's -5.76% return.

RVER

• 1D: 3.51%
• 1M: 4.87%
• 6M: 20.42%
• YTD: 17.32%
• 1Y: 19.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.07%

ZROZ

• 1D: 1.03%
• 1M: -5.73%
• 6M: -4.96%
• YTD: -5.76%
• 1Y: -6.42%
• 3Y*: -6.53%
• 5Y*: -14.34%
• 10Y*: -5.24%
• ALL TIME*: 1.79%

*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)
RVER Trenchless Fund ETF	$341.09K	$290.57K	$289.27K
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	$41.39M	$45.56M	$40.46M

RVER vs. ZROZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RVER Trenchless Fund ETF	17.32%	5.68%	18.88%
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	-5.76%	-1.84%	-6.04%

Correlation

The correlation between RVER and ZROZ is 0.18, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.18
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	0.10

Return for Risk

RVER vs. ZROZ — Risk / Return Rank

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

RVER

RVER Risk / Return Rank: 28
RVER Sharpe Ratio Rank: 29
RVER Sortino Ratio Rank: 30
RVER Omega Ratio Rank: 28
RVER Calmar Ratio Rank: 26
RVER Martin Ratio Rank: 26

ZROZ

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

RVER vs. ZROZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trenchless Fund ETF (RVER) 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.

	RVER	ZROZ	Difference
Sharpe ratio: Return per unit of total volatility	0.78	-0.42	+1.20
Sortino ratio: Return per unit of downside risk	1.25	-0.50	+1.75
Omega ratio: Gain probability vs. loss probability	1.15	0.94	+0.20
Calmar ratio: Return relative to maximum drawdown	0.89	-0.43	+1.32
Martin ratio: Return relative to average drawdown	2.25	-0.88	+3.13

RVER vs. ZROZ - Sharpe Ratio Comparison

The current RVER Sharpe Ratio is 0.78, which is higher than the ZROZ Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of RVER 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

RVER vs. ZROZ - Drawdown Comparison

The maximum RVER drawdown since its inception was -26.21%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for RVER and ZROZ.

Drawdown Indicators

	RVER	ZROZ	Difference
Max Drawdown Largest peak-to-trough decline	-26.21%	-62.93%	+36.72%
Max Drawdown (1Y) Largest decline over 1 year	-21.61%	-14.90%	-6.71%
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	-3.58%	-61.83%	+58.25%
Average Drawdown Average peak-to-trough decline	-6.11%	-24.40%	+18.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.55%	7.28%	+1.27%

Volatility

RVER vs. ZROZ - Volatility Comparison

Trenchless Fund ETF (RVER) has a higher volatility of 9.97% compared to PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) at 4.48%. This indicates that RVER's price experiences larger fluctuations and is considered to be riskier than ZROZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RVER	ZROZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.97%	4.48%	+5.49%
Volatility (6M) Calculated over the trailing 6-month period	20.51%	11.09%	+9.42%
Volatility (1Y) Calculated over the trailing 1-year period	24.83%	15.38%	+9.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.60%	23.77%	+2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.60%	21.96%	+4.64%

RVER vs. ZROZ - Expense Ratio Comparison

RVER has a 0.65% expense ratio, which is higher than ZROZ's 0.15% expense ratio.

Dividends

RVER vs. ZROZ - Dividend Comparison

RVER's dividend yield for the trailing twelve months is around 1.45%, less than ZROZ's 5.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RVER Trenchless Fund ETF	1.45%	1.71%	0.00%	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	5.51%	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 RVER and ZROZ in my portfolio?

RVER and ZROZ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RVER or ZROZ?

RVER has higher volatility (9.97%) compared to ZROZ (4.48%). In terms of maximum drawdown, RVER dropped -26.21% vs ZROZ's -62.93%.

Which ETF is better, RVER or ZROZ?

On 1-year performance, RVER leads with 19.17% vs -6.42% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, ZROZ has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RVER or ZROZ?

Over the 1-year period, RVER has performed better with a 19.17% return vs -6.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RVER or ZROZ?

ZROZ is cheaper with a 0.15% expense ratio, compared with 0.65% for RVER.

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

ZROZ has the higher dividend yield at 5.51%, compared with 1.45% for RVER.

What is the main difference between RVER and ZROZ?

RVER is categorized as Large Cap Blend Equities, while ZROZ is Government Bonds. They also come from different issuers: River1 and PIMCO. Their fees differ too: 0.65% for RVER and 0.15% for ZROZ.

Which has better risk-adjusted returns?

RVER currently has the higher Sharpe Ratio (0.78 vs -0.42), 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.