ZROZ vs. GGOV
ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - ZROZ is a Government Bonds fund tracking the ICE BofA Long U.S. Treasury Principal STRIPS Index, while GGOV is a Global Bonds fund managed by iShares. A 0.57 correlation means they provide meaningful diversification when combined. ZROZ charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
ZROZ vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, ZROZ achieves a -1.07% return, which is significantly lower than GGOV's 2.30% 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%
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZROZ vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | -1.07% | 0.00% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between ZROZ and GGOV is 0.57, 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 Jun 27, 2025 | 0.57 |
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Return for Risk
ZROZ vs. GGOV — Risk / Return Rank
ZROZ
GGOV
ZROZ vs. GGOV - 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 iShares Global Government Bond USD Hedged Active ETF (GGOV). 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 | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.05 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | — | — |
| Martin ratioReturn relative to average drawdown | 0.64 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZROZ | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | — | — |
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 | -0.11 | +0.20 |
Drawdowns
ZROZ vs. GGOV - Drawdown Comparison
The maximum ZROZ drawdown since its inception was -62.93%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for ZROZ and GGOV.
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Drawdown Indicators
| ZROZ | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.93% | -4.69% | -58.24% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -28.62% | — | — |
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% | -1.50% | -58.43% |
Average DrawdownAverage peak-to-trough decline | -24.04% | -1.59% | -22.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.12% | — | — |
Volatility
ZROZ vs. GGOV - Volatility Comparison
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Volatility by Period
| ZROZ | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.46% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.54% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 5.38% | +10.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.90% | 5.38% | +18.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.06% | 5.38% | +16.68% |
ZROZ vs. GGOV - Expense Ratio Comparison
ZROZ has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
ZROZ vs. GGOV - Dividend Comparison
ZROZ's dividend yield for the trailing twelve months is around 5.15%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 GGOV have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZROZ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZROZ is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
ZROZ has the higher dividend yield at 5.15%, compared with 0.00% for GGOV.
ZROZ is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.15% for ZROZ and 0.39% for GGOV.
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