ZROZ vs. BOND
Compare and contrast key facts about PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) and PIMCO Active Bond ETF (BOND).
ZROZ and BOND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZROZ is a passively managed fund by PIMCO that tracks the performance of the BofA Merrill Lynch Long Treasury Principal STRIPS Index. It was launched on Oct 30, 2009. BOND is an actively managed fund by PIMCO. It was launched on Mar 1, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ZROZ or BOND.
Key characteristics
| ZROZ | BOND | |
|---|---|---|
| YTD Return | -12.98% | 2.80% |
| 1Y Return | 1.84% | 8.95% |
| 3Y Return (Ann) | -19.49% | -1.92% |
| 5Y Return (Ann) | -9.77% | 0.20% |
| 10Y Return (Ann) | -1.57% | 1.89% |
| Sharpe Ratio | 0.22 | 1.81 |
| Sortino Ratio | 0.47 | 2.63 |
| Omega Ratio | 1.05 | 1.33 |
| Calmar Ratio | 0.09 | 0.68 |
| Martin Ratio | 0.50 | 7.37 |
| Ulcer Index | 10.18% | 1.39% |
| Daily Std Dev | 23.32% | 5.67% |
| Max Drawdown | -62.93% | -19.71% |
| Current Drawdown | -57.16% | -7.07% |
Correlation
The correlation between ZROZ and BOND is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ZROZ vs. BOND - Performance Comparison
In the year-to-date period, ZROZ achieves a -12.98% return, which is significantly lower than BOND's 2.80% return. Over the past 10 years, ZROZ has underperformed BOND with an annualized return of -1.57%, while BOND has yielded a comparatively higher 1.89% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ZROZ vs. BOND - Expense Ratio Comparison
ZROZ has a 0.15% expense ratio, which is lower than BOND's 0.57% expense ratio.
Risk-Adjusted Performance
ZROZ vs. BOND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) and PIMCO Active Bond ETF (BOND). 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.
Dividends
ZROZ vs. BOND - Dividend Comparison
ZROZ's dividend yield for the trailing twelve months is around 4.27%, less than BOND's 5.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 4.27% | 3.52% | 2.76% | 1.60% | 1.68% | 2.22% | 2.91% | 2.53% | 3.00% | 2.98% | 2.00% | 4.28% |
BOND PIMCO Active Bond ETF | 5.58% | 4.78% | 3.44% | 2.58% | 2.66% | 3.38% | 3.47% | 2.87% | 2.85% | 4.14% | 4.13% | 2.82% |
Drawdowns
ZROZ vs. BOND - Drawdown Comparison
The maximum ZROZ drawdown since its inception was -62.93%, which is greater than BOND's maximum drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for ZROZ and BOND. For additional features, visit the drawdowns tool.
Volatility
ZROZ vs. BOND - Volatility Comparison
PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a higher volatility of 8.57% compared to PIMCO Active Bond ETF (BOND) at 1.56%. This indicates that ZROZ's price experiences larger fluctuations and is considered to be riskier than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.