TYA vs. ZROZ
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds. TYA is actively managed, while ZROZ is passively managed. Over the past 3 years, TYA returned -1.00%/yr vs -6.85%/yr for ZROZ. Their correlation of 0.82 means they have usually moved in the same direction. Both charge a 0.15% expense ratio.
Performance
TYA vs. ZROZ - Performance Comparison
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Returns By Period
In the year-to-date period, TYA achieves a -7.44% return, which is significantly lower than ZROZ's -6.72% return.
TYA
- 1D
- 0.46%
- 1M
- -3.02%
- 6M
- -6.00%
- YTD
- -7.44%
- 1Y
- -6.08%
- 3Y*
- -1.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.67%
ZROZ
- 1D
- 0.55%
- 1M
- -6.69%
- 6M
- -5.48%
- YTD
- -6.72%
- 1Y
- -7.03%
- 3Y*
- -6.85%
- 5Y*
- -14.64%
- 10Y*
- -5.34%
- ALL TIME*
- 1.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $293.95K | $302.74K | $683.37K | |
| $39.17M | $45.09M | $39.93M |
TYA vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -7.44% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | -6.72% | -1.84% | -16.18% | 1.19% | -41.28% | 3.25% |
Correlation
The correlation between TYA and ZROZ is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.82 |
The correlation between TYA and ZROZ has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.
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Return for Risk
TYA vs. ZROZ — Risk / Return Rank
TYA
ZROZ
TYA vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) 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.
| TYA | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.94 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | -0.47 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.07 | -0.97 | -0.10 |
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Drawdowns
TYA vs. ZROZ - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for TYA and ZROZ.
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Drawdown Indicators
| TYA | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -62.93% | +11.78% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -14.90% | +2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -19.13% | -26.42% | +7.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.93% | — |
Current DrawdownCurrent decline from peak | -42.95% | -62.22% | +19.27% |
Average DrawdownAverage peak-to-trough decline | -36.02% | -24.39% | -11.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.68% | 7.23% | -1.55% |
Volatility
TYA vs. ZROZ - Volatility Comparison
The current volatility for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) is 3.30%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.28%. This indicates that TYA 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.
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Volatility by Period
| TYA | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 4.28% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 9.64% | 11.04% | -1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.99% | 15.38% | -3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 23.76% | -3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 21.96% | -1.61% |
TYA vs. ZROZ - Expense Ratio Comparison
Both TYA and ZROZ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TYA vs. ZROZ - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.74%, less than ZROZ's 5.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.74% | 3.85% | 4.84% | 4.28% | 2.23% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 5.56% | 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
TYA and ZROZ have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZROZ has higher volatility (4.28%) compared to TYA (3.30%). In terms of maximum drawdown, TYA dropped -51.15% vs ZROZ's -62.93%.
On 3-year performance, TYA leads with -1.00% vs -6.85% for ZROZ. Both ETFs have the same 0.15% expense ratio. On volatility, TYA has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TYA has performed better with a -1.00% return vs -6.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYA and ZROZ have the same expense ratio: 0.15% per year.
ZROZ has the higher dividend yield at 5.56%, compared with 3.74% for TYA.
They also come from different issuers: Simplify and PIMCO.
ZROZ currently has the higher Sharpe Ratio (-0.46 vs -0.51), 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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