XTWY vs. ZTEN
XTWY (BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF) and ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) are both exchange-traded funds - XTWY is a Government Bonds fund tracking the Bloomberg US Treasury 20 Year Target Duration Index, while ZTEN is a Long-Term Bond fund tracking the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross. Both are passively managed. Over the past year, XTWY returned 3.85% vs 5.73% for ZTEN. Their correlation of 0.85 suggests significant overlap in exposure. XTWY charges 0.12%/yr vs 0.15%/yr for ZTEN.
Performance
XTWY vs. ZTEN - Performance Comparison
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Returns By Period
In the year-to-date period, XTWY achieves a 0.98% return, which is significantly higher than ZTEN's 0.43% return.
XTWY
- 1D
- 0.11%
- 1M
- 2.79%
- YTD
- 0.98%
- 6M
- 0.48%
- 1Y
- 3.85%
- 3Y*
- -3.26%
- 5Y*
- —
- 10Y*
- —
ZTEN
- 1D
- 0.14%
- 1M
- 0.82%
- YTD
- 0.43%
- 6M
- 0.58%
- 1Y
- 5.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTWY vs. ZTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | 0.98% | 2.52% | -2.58% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 0.43% | 9.15% | 0.29% |
Correlation
The correlation between XTWY and ZTEN is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.85 |
The correlation between XTWY and ZTEN has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.
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Return for Risk
XTWY vs. ZTEN — Risk / Return Rank
XTWY
ZTEN
XTWY vs. ZTEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) and F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN). 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.
| XTWY | ZTEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.21 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.73 | -1.33 |
| Martin ratioReturn relative to average drawdown | 0.94 | 5.40 | -4.46 |
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Drawdowns
XTWY vs. ZTEN - Drawdown Comparison
The maximum XTWY drawdown since its inception was -25.92%, which is greater than ZTEN's maximum drawdown of -3.43%. Use the drawdown chart below to compare losses from any high point for XTWY and ZTEN.
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Drawdown Indicators
| XTWY | ZTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.92% | -3.43% | -22.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.48% | -3.32% | -6.16% |
Max Drawdown (3Y)Largest decline over 3 years | -22.16% | — | — |
Current DrawdownCurrent decline from peak | -14.11% | -1.20% | -12.91% |
Average DrawdownAverage peak-to-trough decline | -12.25% | -0.80% | -11.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 1.06% | +3.03% |
Volatility
XTWY vs. ZTEN - Volatility Comparison
BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) has a higher volatility of 2.69% compared to F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) at 1.40%. This indicates that XTWY's price experiences larger fluctuations and is considered to be riskier than ZTEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTWY | ZTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 1.40% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 7.87% | 3.89% | +3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 4.97% | +6.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 5.78% | +11.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 5.78% | +11.76% |
XTWY vs. ZTEN - Expense Ratio Comparison
XTWY has a 0.13% expense ratio, which is lower than ZTEN'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
XTWY vs. ZTEN - Dividend Comparison
XTWY's dividend yield for the trailing twelve months is around 4.63%, less than ZTEN's 5.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | 4.63% | 4.56% | 4.65% | 3.86% | 1.08% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.07% | 5.16% | 0.44% | 0.00% | 0.00% |
Frequently Asked Questions
XTWY and ZTEN have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTWY has higher volatility (2.69%) compared to ZTEN (1.40%). In terms of maximum drawdown, XTWY dropped -25.92% vs ZTEN's -3.43%.
On 1-year performance, ZTEN leads with 5.73% vs 3.85% for XTWY. On fees, XTWY is cheaper at 0.12% per year. On volatility, ZTEN has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZTEN has performed better with a 5.73% return vs 3.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTWY is cheaper with a 0.12% expense ratio, compared with 0.15% for ZTEN.
ZTEN has the higher dividend yield at 5.07%, compared with 4.63% for XTWY.
XTWY is categorized as Government Bonds, while ZTEN is Long-Term Bond. XTWY tracks Bloomberg US Treasury 20 Year Target Duration Index, while ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross. They also come from different issuers: BondBloxx and F/m. Their fees differ too: 0.12% for XTWY and 0.15% for ZTEN.
ZTEN currently has the higher Sharpe Ratio (1.16 vs 0.34), 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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