XHLF vs. ZROZ
XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) and ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) are both Government Bonds funds - XHLF tracks the Bloomberg US Treasury 6 Month Duration Index while ZROZ tracks the ICE BofA Long U.S. Treasury Principal STRIPS Index. Both are passively managed. Over the past 3 years, XHLF returned 4.59%/yr vs -6.88%/yr for ZROZ. At a 0.15 correlation, their price movements are largely independent. XHLF charges 0.03%/yr vs 0.15%/yr for ZROZ.
Performance
XHLF vs. ZROZ - Performance Comparison
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Returns By Period
In the year-to-date period, XHLF achieves a 1.58% return, which is significantly lower than ZROZ's 3.17% return.
XHLF
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.58%
- 6M
- 1.63%
- 1Y
- 3.81%
- 3Y*
- 4.59%
- 5Y*
- —
- 10Y*
- —
ZROZ
- 1D
- -0.20%
- 1M
- 5.75%
- YTD
- 3.17%
- 6M
- 1.28%
- 1Y
- 3.97%
- 3Y*
- -6.88%
- 5Y*
- -11.30%
- 10Y*
- -4.40%
XHLF vs. ZROZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 1.58% | 4.21% | 5.04% | 4.90% | 0.89% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 3.17% | -1.84% | -16.18% | 1.19% | -11.25% |
Correlation
The correlation between XHLF and ZROZ 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 | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.15 |
The correlation between XHLF and ZROZ shifts across timeframes, from -0.04 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XHLF vs. ZROZ — Risk / Return Rank
XHLF
ZROZ
XHLF vs. ZROZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) 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.
| XHLF | ZROZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.74 | ||
| Sortino ratioReturn per unit of downside risk | +42.98 | ||
| Omega ratioGain probability vs. loss probability | 10.92 | 1.05 | +9.87 |
| Calmar ratioReturn relative to maximum drawdown | 96.20 | 0.28 | +95.92 |
| Martin ratioReturn relative to average drawdown | 638.16 | 0.62 | +637.54 |
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Drawdowns
XHLF vs. ZROZ - Drawdown Comparison
The maximum XHLF drawdown since its inception was -0.11%, smaller than the maximum ZROZ drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for XHLF and ZROZ.
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Drawdown Indicators
| XHLF | ZROZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.11% | -62.93% | +62.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -14.02% | +13.98% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -28.62% | +28.56% |
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 | 0.00% | -58.21% | +58.21% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -24.16% | +24.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 6.42% | -6.41% |
Volatility
XHLF vs. ZROZ - Volatility Comparison
The current volatility for BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) is 0.09%, while PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a volatility of 4.00%. This indicates that XHLF 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
| XHLF | ZROZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 4.00% | -3.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.21% | 10.93% | -10.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 15.83% | -15.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.42% | 23.84% | -23.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.42% | 22.04% | -21.62% |
XHLF vs. ZROZ - Expense Ratio Comparison
XHLF has a 0.03% expense ratio, which is lower than ZROZ's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XHLF vs. ZROZ - Dividend Comparison
XHLF's dividend yield for the trailing twelve months is around 3.84%, less than ZROZ's 4.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 3.84% | 3.98% | 4.96% | 4.50% | 0.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 4.94% | 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
XHLF and ZROZ 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.
ZROZ has higher volatility (4.00%) compared to XHLF (0.09%). In terms of maximum drawdown, XHLF dropped -0.11% vs ZROZ's -62.93%.
On 3-year performance, XHLF leads with 4.59% vs -6.88% for ZROZ. On fees, XHLF is cheaper at 0.03% per year. On volatility, XHLF has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XHLF has performed better with a 4.59% return vs -6.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XHLF is cheaper with a 0.03% expense ratio, compared with 0.15% for ZROZ.
ZROZ has the higher dividend yield at 4.94%, compared with 3.84% for XHLF.
XHLF tracks Bloomberg US Treasury 6 Month Duration Index, while ZROZ tracks ICE BofA Long U.S. Treasury Principal STRIPS Index. They also come from different issuers: BondBloxx and PIMCO. Their fees differ too: 0.03% for XHLF and 0.15% for ZROZ.
XHLF currently has the higher Sharpe Ratio (11.99 vs 0.25), 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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