ZCBE vs. VGIT

Last updated Jun 6, 2026

ZCBE (Global X Zero Coupon Bond 2033 ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both Government Bonds funds - ZCBE tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2033 Maturity Index while VGIT tracks the Bloomberg U.S. Treasury 3-10 Year Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. ZCBE charges 0.07%/yr vs 0.03%/yr for VGIT.

Performance

ZCBE vs. VGIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2033 ETF (ZCBE) and Vanguard Intermediate-Term Treasury ETF (VGIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBE

• 1D: -0.56%
• 1M: -1.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGIT

• 1D: -0.41%
• 1M: -0.86%
• YTD: -0.73%
• 6M: -0.51%
• 1Y: 3.01%
• 3Y*: 3.31%
• 5Y*: -0.01%
• 10Y*: 1.21%

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

ZCBE vs. VGIT - Yearly Performance Comparison

	2026 (YTD)
ZCBE Global X Zero Coupon Bond 2033 ETF	-0.89%
VGIT Vanguard Intermediate-Term Treasury ETF	-0.94%

Correlation

The correlation between ZCBE and VGIT is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.98

Return for Risk

ZCBE vs. VGIT — Risk / Return Rank

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

VGIT

VGIT Risk / Return Rank: 24
VGIT Sharpe Ratio Rank: 26
VGIT Sortino Ratio Rank: 25
VGIT Omega Ratio Rank: 24
VGIT Calmar Ratio Rank: 23
VGIT Martin Ratio Rank: 24

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.

ZCBE vs. VGIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2033 ETF (ZCBE) and Vanguard Intermediate-Term Treasury ETF (VGIT). 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

	ZCBE	VGIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.90	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.49	-0.91

Drawdowns

ZCBE vs. VGIT - Drawdown Comparison

The maximum ZCBE drawdown since its inception was -4.24%, smaller than the maximum VGIT drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for ZCBE and VGIT.

Drawdown Indicators

	ZCBE	VGIT	Difference
Max Drawdown Largest peak-to-trough decline	-4.24%	-16.05%	+11.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.83%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-16.05%	—
Current Drawdown Current decline from peak	-3.47%	-2.66%	-0.81%
Average Drawdown Average peak-to-trough decline	-1.69%	-3.52%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.96%	—

Volatility

Volatility by Period

	ZCBE	VGIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.24%	3.38%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	5.38%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	4.50%	+0.74%

ZCBE vs. VGIT - Expense Ratio Comparison

ZCBE has a 0.07% expense ratio, which is higher than VGIT'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

ZCBE vs. VGIT - Dividend Comparison

ZCBE's dividend yield for the trailing twelve months is around 1.66%, less than VGIT's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGIT Vanguard Intermediate-Term Treasury ETF	3.88%	3.79%	3.67%	2.73%	1.74%	1.69%	2.23%	2.24%	2.05%	1.67%	1.69%	1.69%
ZCBE Global X Zero Coupon Bond 2033 ETF	1.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBE and VGIT in my portfolio?

With a correlation of 0.98, ZCBE and VGIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ZCBE or VGIT?

On fees, VGIT 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, ZCBE or VGIT?

VGIT is cheaper with a 0.03% expense ratio, compared with 0.07% for ZCBE.

Which ETF pays a higher dividend yield, ZCBE or VGIT?

VGIT has the higher dividend yield at 3.88%, compared with 1.66% for ZCBE.

What is the main difference between ZCBE and VGIT?

ZCBE tracks FTSE Zero Coupon U.S. Treasury STRIPS 2033 Maturity Index, while VGIT tracks Bloomberg U.S. Treasury 3-10 Year Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.07% for ZCBE and 0.03% for VGIT.