ZCBG vs. TLTX

Last updated Jun 6, 2026

ZCBG (Global X Zero Coupon Bond 2035 ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both Government Bonds funds from Global X. ZCBG is passively managed, while TLTX is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. ZCBG charges 0.07%/yr vs 0.29%/yr for TLTX.

Performance

ZCBG vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2035 ETF (ZCBG) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBG

• 1D: -0.61%
• 1M: -1.32%
• 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)

ZCBG vs. TLTX - Yearly Performance Comparison

	2026 (YTD)
ZCBG Global X Zero Coupon Bond 2035 ETF	-1.00%
TLTX Global X Treasury Bond Enhanced Income ETF	0.23%

Correlation

The correlation between ZCBG and TLTX is 0.65, 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	0.65

Return for Risk

ZCBG vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2035 ETF (ZCBG) 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

	ZCBG	TLTX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	0.67	-1.06

Drawdowns

ZCBG vs. TLTX - Drawdown Comparison

The maximum ZCBG drawdown since its inception was -5.11%, smaller than the maximum TLTX drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for ZCBG and TLTX.

Drawdown Indicators

	ZCBG	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-5.11%	-6.35%	+1.24%
Current Drawdown Current decline from peak	-3.89%	-3.69%	-0.20%
Average Drawdown Average peak-to-trough decline	-1.99%	-2.28%	+0.29%

Volatility

Volatility by Period

	ZCBG	TLTX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.33%	9.12%	-2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.33%	9.12%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.33%	9.12%	-2.79%

ZCBG vs. TLTX - Expense Ratio Comparison

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

Dividends

ZCBG vs. TLTX - Dividend Comparison

ZCBG's dividend yield for the trailing twelve months is around 1.74%, less than TLTX's 15.74% yield.

Position	TTM	2025
TLTX Global X Treasury Bond Enhanced Income ETF	15.74%	7.54%
ZCBG Global X Zero Coupon Bond 2035 ETF	1.74%	0.00%

Frequently Asked Questions

Can I hold both ZCBG and TLTX in my portfolio?

ZCBG and TLTX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBG or TLTX?

On fees, ZCBG 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, ZCBG or TLTX?

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

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

TLTX has the higher dividend yield at 15.74%, compared with 1.74% for ZCBG.

What is the main difference between ZCBG and TLTX?

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