ZCBA vs. TLTX

Last updated Jun 6, 2026

ZCBA (Global X Zero Coupon Bond 2030 ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both Government Bonds funds from Global X. ZCBA is passively managed, while TLTX is actively managed. A 0.50 correlation means they provide meaningful diversification when combined. ZCBA charges 0.07%/yr vs 0.29%/yr for TLTX.

Performance

ZCBA vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2030 ETF (ZCBA) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBA

• 1D: -0.40%
• 1M: -1.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTX

• 1D: -0.23%
• 1M: -0.35%
• YTD: 0.01%
• 6M: -0.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZCBA vs. TLTX - Yearly Performance Comparison

	2026 (YTD)
ZCBA Global X Zero Coupon Bond 2030 ETF	-0.76%
TLTX Global X Treasury Bond Enhanced Income ETF	0.23%

Correlation

The correlation between ZCBA and TLTX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.50

Return for Risk

ZCBA vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2030 ETF (ZCBA) and Global X Treasury Bond Enhanced Income ETF (TLTX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ZCBA	TLTX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.58	0.67	-1.25

Drawdowns

ZCBA vs. TLTX - Drawdown Comparison

The maximum ZCBA drawdown since its inception was -2.39%, smaller than the maximum TLTX drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for ZCBA and TLTX.

Drawdown Indicators

	ZCBA	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-2.39%	-6.35%	+3.96%
Current Drawdown Current decline from peak	-2.24%	-3.69%	+1.45%
Average Drawdown Average peak-to-trough decline	-1.00%	-2.28%	+1.28%

Volatility

Volatility by Period

	ZCBA	TLTX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	9.12%	-5.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.23%	9.12%	-5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	9.12%	-5.89%

ZCBA vs. TLTX - Expense Ratio Comparison

ZCBA has a 0.07% expense ratio, which is lower than TLTX's 0.29% expense ratio.

Dividends

ZCBA vs. TLTX - Dividend Comparison

ZCBA's dividend yield for the trailing twelve months is around 1.51%, less than TLTX's 15.74% yield.

Position	TTM	2025
TLTX Global X Treasury Bond Enhanced Income ETF	15.74%	7.54%
ZCBA Global X Zero Coupon Bond 2030 ETF	1.51%	0.00%

Frequently Asked Questions

Can I hold both ZCBA and TLTX in my portfolio?

ZCBA and TLTX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBA or TLTX?

On fees, ZCBA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBA or TLTX?

ZCBA is cheaper with a 0.07% expense ratio, compared with 0.29% for TLTX.

Which ETF pays a higher dividend yield, ZCBA or TLTX?

TLTX has the higher dividend yield at 15.74%, compared with 1.51% for ZCBA.

What is the main difference between ZCBA and TLTX?

Their fees differ too: 0.07% for ZCBA and 0.29% for TLTX.