ZCBC vs. TLTX

Last updated Jun 6, 2026

ZCBC (Global X Zero Coupon Bond 2032 ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both Government Bonds funds from Global X. ZCBC is passively managed, while TLTX is actively managed. A 0.57 correlation means they provide meaningful diversification when combined. ZCBC charges 0.07%/yr vs 0.29%/yr for TLTX.

Performance

ZCBC vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2032 ETF (ZCBC) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBC

• 1D: -0.51%
• 1M: -1.15%
• 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)

ZCBC vs. TLTX - Yearly Performance Comparison

	2026 (YTD)
ZCBC Global X Zero Coupon Bond 2032 ETF	-0.79%
TLTX Global X Treasury Bond Enhanced Income ETF	0.23%

Correlation

The correlation between ZCBC and TLTX is 0.57, 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	0.57

Return for Risk

ZCBC vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2032 ETF (ZCBC) 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

	ZCBC	TLTX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.67	-1.09

Drawdowns

ZCBC vs. TLTX - Drawdown Comparison

The maximum ZCBC drawdown since its inception was -3.65%, smaller than the maximum TLTX drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for ZCBC and TLTX.

Drawdown Indicators

	ZCBC	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-6.35%	+2.70%
Current Drawdown Current decline from peak	-3.05%	-3.69%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.46%	-2.28%	+0.82%

Volatility

Volatility by Period

	ZCBC	TLTX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	9.12%	-4.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	9.12%	-4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	9.12%	-4.53%

ZCBC vs. TLTX - Expense Ratio Comparison

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

Dividends

ZCBC vs. TLTX - Dividend Comparison

ZCBC's dividend yield for the trailing twelve months is around 1.61%, less than TLTX's 15.74% yield.

Position	TTM	2025
TLTX Global X Treasury Bond Enhanced Income ETF	15.74%	7.54%
ZCBC Global X Zero Coupon Bond 2032 ETF	1.61%	0.00%

Frequently Asked Questions

Can I hold both ZCBC and TLTX in my portfolio?

ZCBC and TLTX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBC or TLTX?

On fees, ZCBC 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, ZCBC or TLTX?

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

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

TLTX has the higher dividend yield at 15.74%, compared with 1.61% for ZCBC.

What is the main difference between ZCBC and TLTX?

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