ZCBF vs. VGIT

Last updated Jun 6, 2026

ZCBF (Global X Zero Coupon Bond 2034 ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both Government Bonds funds - ZCBF tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2034 Maturity Index while VGIT tracks the Bloomberg U.S. Treasury 3-10 Year Index. Both are passively managed. With a 0.97 correlation, they move nearly in lockstep. ZCBF charges 0.07%/yr vs 0.03%/yr for VGIT.

Performance

ZCBF vs. VGIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2034 ETF (ZCBF) and Vanguard Intermediate-Term Treasury ETF (VGIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBF

• 1D: -0.59%
• 1M: -1.29%
• 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)

ZCBF vs. VGIT - Yearly Performance Comparison

	2026 (YTD)
ZCBF Global X Zero Coupon Bond 2034 ETF	-1.01%
VGIT Vanguard Intermediate-Term Treasury ETF	-0.94%

Correlation

The correlation between ZCBF and VGIT is 0.97 - 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	0.97

Return for Risk

ZCBF 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.

ZCBF vs. VGIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2034 ETF (ZCBF) 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

	ZCBF	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	-0.92

Drawdowns

ZCBF vs. VGIT - Drawdown Comparison

The maximum ZCBF drawdown since its inception was -4.66%, smaller than the maximum VGIT drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for ZCBF and VGIT.

Drawdown Indicators

	ZCBF	VGIT	Difference
Max Drawdown Largest peak-to-trough decline	-4.66%	-16.05%	+11.39%
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	-3.67%	-2.66%	-1.01%
Average Drawdown Average peak-to-trough decline	-1.85%	-3.52%	+1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.96%	—

Volatility

Volatility by Period

	ZCBF	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	5.78%	3.38%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.78%	5.38%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.78%	4.50%	+1.28%

ZCBF vs. VGIT - Expense Ratio Comparison

ZCBF 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

ZCBF vs. VGIT - Dividend Comparison

ZCBF's dividend yield for the trailing twelve months is around 1.70%, 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%
ZCBF Global X Zero Coupon Bond 2034 ETF	1.70%	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 ZCBF and VGIT in my portfolio?

With a correlation of 0.97, ZCBF 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, ZCBF 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, ZCBF or VGIT?

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

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

VGIT has the higher dividend yield at 3.88%, compared with 1.70% for ZCBF.

What is the main difference between ZCBF and VGIT?

ZCBF tracks FTSE Zero Coupon U.S. Treasury STRIPS 2034 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 ZCBF and 0.03% for VGIT.