ZROZ vs. BNDD
ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. ZROZ is passively managed, while BNDD is actively managed. Over the past 3 years, ZROZ returned -7.39%/yr vs -3.91%/yr for BNDD. A 0.79 correlation means they provide meaningful diversification when combined. ZROZ charges 0.15%/yr vs 1.02%/yr for BNDD.
Performance
ZROZ vs. BNDD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZROZ achieves a -1.07% return, which is significantly lower than BNDD's 4.32% return.
ZROZ
- 1D
- -0.48%
- 1M
- 1.55%
- YTD
- -1.07%
- 6M
- -4.36%
- 1Y
- 3.89%
- 3Y*
- -7.39%
- 5Y*
- -11.62%
- 10Y*
- -4.15%
BNDD
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.32%
- 6M
- 2.24%
- 1Y
- 3.39%
- 3Y*
- -3.91%
- 5Y*
- —
- 10Y*
- —
ZROZ vs. BNDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | -1.07% | -1.84% | -16.18% | 1.19% | -41.28% | -1.00% |
BNDD Quadratic Deflation ETF | 4.32% | -8.17% | -6.65% | 4.02% | -17.48% | 5.54% |
Correlation
The correlation between ZROZ and BNDD is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.79 |
The correlation between ZROZ and BNDD has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZROZ vs. BNDD — Risk / Return Rank
ZROZ
BNDD
ZROZ vs. BNDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) and Quadratic Deflation ETF (BNDD). 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.
| ZROZ | BNDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.06 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 0.56 | -0.28 |
| Martin ratioReturn relative to average drawdown | 0.64 | 1.20 | -0.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ZROZ | BNDD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 0.32 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.33 | +0.42 |
Drawdowns
ZROZ vs. BNDD - Drawdown Comparison
The maximum ZROZ drawdown since its inception was -62.93%, which is greater than BNDD's maximum drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for ZROZ and BNDD.
Loading charts...
Drawdown Indicators
| ZROZ | BNDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.93% | -30.87% | -32.06% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | -6.09% | -7.93% |
Max Drawdown (3Y)Largest decline over 3 years | -28.62% | -20.75% | -7.87% |
Max Drawdown (5Y)Largest decline over 5 years | -57.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.93% | — | — |
Current DrawdownCurrent decline from peak | -59.93% | -26.51% | -33.42% |
Average DrawdownAverage peak-to-trough decline | -24.04% | -19.34% | -4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.12% | 2.83% | +3.29% |
Volatility
ZROZ vs. BNDD - Volatility Comparison
PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a higher volatility of 4.46% compared to Quadratic Deflation ETF (BNDD) at 2.21%. This indicates that ZROZ's price experiences larger fluctuations and is considered to be riskier than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZROZ | BNDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.46% | 2.21% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.54% | 8.11% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 10.59% | +5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.90% | 13.38% | +10.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.06% | 13.38% | +8.68% |
ZROZ vs. BNDD - Expense Ratio Comparison
ZROZ has a 0.15% expense ratio, which is lower than BNDD's 1.02% expense ratio.
Dividends
ZROZ vs. BNDD - Dividend Comparison
ZROZ's dividend yield for the trailing twelve months is around 5.15%, more than BNDD's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.61% | 3.82% | 3.85% | 4.30% | 43.17% | 1.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 5.15% | 4.96% | 4.58% | 3.52% | 2.76% | 1.60% | 1.68% | 2.22% | 2.06% | 2.53% | 3.00% | 2.98% |
Frequently Asked Questions
ZROZ and BNDD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZROZ has higher volatility (4.46%) compared to BNDD (2.21%). In terms of maximum drawdown, ZROZ dropped -62.93% vs BNDD's -30.87%.
On 3-year performance, BNDD leads with -3.91% vs -7.39% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, BNDD has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNDD has performed better with a -3.91% return vs -7.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZROZ is cheaper with a 0.15% expense ratio, compared with 1.02% for BNDD.
ZROZ has the higher dividend yield at 5.15%, compared with 3.61% for BNDD.
They also come from different issuers: PIMCO and KraneShares. Their fees differ too: 0.15% for ZROZ and 1.02% for BNDD.
BNDD currently has the higher Sharpe Ratio (0.32 vs 0.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for ZROZ and BNDD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer