ZCBC vs. XONE

Last updated Jun 6, 2026

ZCBC (Global X Zero Coupon Bond 2032 ETF) and XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) are both Government Bonds funds - ZCBC tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index while XONE tracks the Bloomberg US Treasury 1 Year Target Duration Index. Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. ZCBC charges 0.07%/yr vs 0.03%/yr for XONE.

Performance

ZCBC vs. XONE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2032 ETF (ZCBC) and BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE). 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*: —

XONE

• 1D: -0.04%
• 1M: 0.16%
• YTD: 1.11%
• 6M: 1.45%
• 1Y: 3.79%
• 3Y*: 4.55%
• 5Y*: —
• 10Y*: —

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

ZCBC vs. XONE - Yearly Performance Comparison

	2026 (YTD)
ZCBC Global X Zero Coupon Bond 2032 ETF	-0.79%
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	1.06%

Correlation

The correlation between ZCBC and XONE is 0.70, 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	0.70

Return for Risk

ZCBC vs. XONE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XONE

XONE Risk / Return Rank: 99
XONE Sharpe Ratio Rank: 99
XONE Sortino Ratio Rank: 99
XONE Omega Ratio Rank: 99
XONE Calmar Ratio Rank: 99
XONE Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZCBC vs. XONE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2032 ETF (ZCBC) and BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE). 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	XONE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	4.95	-5.37

Drawdowns

ZCBC vs. XONE - Drawdown Comparison

The maximum ZCBC drawdown since its inception was -3.65%, which is greater than XONE's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for ZCBC and XONE.

Drawdown Indicators

	ZCBC	XONE	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-0.40%	-3.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.16%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.28%	—
Current Drawdown Current decline from peak	-3.05%	-0.04%	-3.01%
Average Drawdown Average peak-to-trough decline	-1.46%	-0.04%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	ZCBC	XONE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	0.55%	+4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	0.86%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	0.86%	+3.73%

ZCBC vs. XONE - Expense Ratio Comparison

ZCBC has a 0.07% expense ratio, which is higher than XONE's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZCBC vs. XONE - Dividend Comparison

ZCBC's dividend yield for the trailing twelve months is around 1.61%, less than XONE's 4.06% yield.

Position	TTM	2025	2024	2023	2022
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	4.06%	4.33%	5.21%	4.46%	1.17%
ZCBC Global X Zero Coupon Bond 2032 ETF	1.61%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBC and XONE in my portfolio?

ZCBC and XONE have a correlation of 0.70, 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 XONE?

On fees, XONE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBC or XONE?

XONE is cheaper with a 0.03% expense ratio, compared with 0.07% for ZCBC.

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

XONE has the higher dividend yield at 4.06%, compared with 1.61% for ZCBC.

What is the main difference between ZCBC and XONE?

ZCBC tracks FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index, while XONE tracks Bloomberg US Treasury 1 Year Target Duration Index. They also come from different issuers: Global X and BondBloxx. Their fees differ too: 0.07% for ZCBC and 0.03% for XONE.