THTA vs. ZROZ

Last updated Jun 3, 2026

THTA (SoFi Enhanced Yield ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both exchange-traded funds - THTA is a Derivative Income fund actively managed by SoFi, while ZROZ is a Government Bonds fund tracking the ICE BofA Long U.S. Treasury Principal STRIPS Index. THTA is actively managed, while ZROZ is passively managed. Over the past year, THTA returned 16.62% vs 4.38% for ZROZ. At a 0.06 correlation, their price movements are largely independent. THTA charges 0.49%/yr vs 0.15%/yr for ZROZ.

Performance

THTA vs. ZROZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SoFi Enhanced Yield ETF (THTA) 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, THTA achieves a 6.88% return, which is significantly higher than ZROZ's -0.59% return.

THTA

• 1D: 0.13%
• 1M: 0.64%
• YTD: 6.88%
• 6M: 8.17%
• 1Y: 16.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZROZ

• 1D: 0.45%
• 1M: 0.90%
• YTD: -0.59%
• 6M: -3.61%
• 1Y: 4.38%
• 3Y*: -7.24%
• 5Y*: -11.21%
• 10Y*: -4.11%

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

THTA vs. ZROZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
THTA SoFi Enhanced Yield ETF	6.88%	-10.24%	7.31%	1.04%
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	-0.59%	-1.84%	-16.18%	19.56%

Correlation

The correlation between THTA and ZROZ is 0.09, 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	0.09
Correlation (All Time) Calculated using the full available price history since Nov 16, 2023	0.06

Return for Risk

THTA vs. ZROZ — Risk / Return Rank

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

THTA

THTA Risk / Return Rank: 92
THTA Sharpe Ratio Rank: 86
THTA Sortino Ratio Rank: 90
THTA Omega Ratio Rank: 95
THTA Calmar Ratio Rank: 92
THTA Martin Ratio Rank: 97

ZROZ

ZROZ Risk / Return Rank: 12
ZROZ Sharpe Ratio Rank: 13
ZROZ Sortino Ratio Rank: 12
ZROZ Omega Ratio Rank: 12
ZROZ Calmar Ratio Rank: 10
ZROZ Martin Ratio Rank: 10

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.

THTA vs. ZROZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SoFi Enhanced Yield ETF (THTA) 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.

	THTA	ZROZ	Difference
Sharpe ratio Return per unit of total volatility	2.88	0.27	+2.61
Sortino ratio Return per unit of downside risk	4.25	0.51	+3.74
Omega ratio Gain probability vs. loss probability	1.74	1.06	+0.68
Calmar ratio Return relative to maximum drawdown	6.28	0.19	+6.09
Martin ratio Return relative to average drawdown	51.29	0.44	+50.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THTA vs. ZROZ - Sharpe Ratio Comparison

The current THTA Sharpe Ratio is 2.88, which is higher than the ZROZ Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of THTA 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.

Sharpe Ratios by Period

	THTA	ZROZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	0.27	+2.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.47	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.09	-0.01

Drawdowns

THTA vs. ZROZ - Drawdown Comparison

The maximum THTA drawdown since its inception was -31.41%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for THTA and ZROZ.

Drawdown Indicators

	THTA	ZROZ	Difference
Max Drawdown Largest peak-to-trough decline	-31.41%	-62.93%	+31.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-14.02%	+11.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.62%	—
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	-6.77%	-59.74%	+52.97%
Average Drawdown Average peak-to-trough decline	-7.52%	-24.03%	+16.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	6.09%	-5.77%

Volatility

THTA vs. ZROZ - Volatility Comparison

The current volatility for SoFi Enhanced Yield ETF (THTA) is 0.75%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.59%. This indicates that THTA 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.

Volatility by Period

	THTA	ZROZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	4.59%	-3.84%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	10.70%	-6.70%
Volatility (1Y) Calculated over the trailing 1-year period	5.80%	16.32%	-10.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.27%	23.90%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.27%	22.06%	-1.79%

THTA vs. ZROZ - Expense Ratio Comparison

THTA has a 0.49% expense ratio, which is higher than ZROZ's 0.15% expense ratio.

Dividends

THTA vs. ZROZ - Dividend Comparison

THTA's dividend yield for the trailing twelve months is around 11.26%, more than ZROZ's 5.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
THTA SoFi Enhanced Yield ETF	11.26%	12.66%	12.44%	0.58%	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	5.12%	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 THTA and ZROZ in my portfolio?

THTA and ZROZ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THTA or ZROZ?

ZROZ has higher volatility (4.59%) compared to THTA (0.75%). In terms of maximum drawdown, THTA dropped -31.41% vs ZROZ's -62.93%.

Which ETF is better, THTA or ZROZ?

On 1-year performance, THTA leads with 16.62% vs 4.38% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, THTA has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THTA or ZROZ?

Over the 1-year period, THTA has performed better with a 16.62% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THTA or ZROZ?

ZROZ is cheaper with a 0.15% expense ratio, compared with 0.49% for THTA.

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

THTA has the higher dividend yield at 11.26%, compared with 5.12% for ZROZ.

What is the main difference between THTA and ZROZ?

THTA is categorized as Derivative Income, while ZROZ is Government Bonds. They also come from different issuers: SoFi and PIMCO. Their fees differ too: 0.49% for THTA and 0.15% for ZROZ.

Which has better risk-adjusted returns?

THTA currently has the higher Sharpe Ratio (2.88 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.