ZROZ vs. IBTE

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) and iShares iBonds Dec 2024 Term Treasury ETF (IBTE).

ZROZ and IBTE 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. IBTE is a passively managed fund by iShares that tracks the performance of the ICE 2024 Maturity US Treasury Index. It was launched on Feb 25, 2020. Both ZROZ and IBTE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZROZ vs. IBTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) and iShares iBonds Dec 2024 Term Treasury ETF (IBTE). The values are adjusted to include any dividend payments, if applicable.

ZROZ vs. IBTE - Yearly Performance Comparison

	2026 (YTD)
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	-0.68%
IBTE iShares iBonds Dec 2024 Term Treasury ETF	0.00%

Returns By Period

ZROZ

• 1D: -0.61%
• 1M: -6.35%
• YTD: -0.37%
• 6M: -3.49%
• 1Y: -6.32%
• 3Y*: -8.90%
• 5Y*: -11.00%
• 10Y*: -3.82%

IBTE

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZROZ vs. IBTE - Expense Ratio Comparison

ZROZ has a 0.15% expense ratio, which is higher than IBTE's 0.07% 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%.

ZROZ

PIMCO 25+ Year Zero Coupon US Treasury Index Fund

IBTE

iShares iBonds Dec 2024 Term Treasury ETF

Return for Risk

ZROZ vs. IBTE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZROZ

ZROZ Risk / Return Rank: 7
ZROZ Sharpe Ratio Rank: 6
ZROZ Sortino Ratio Rank: 6
ZROZ Omega Ratio Rank: 6
ZROZ Calmar Ratio Rank: 7
ZROZ Martin Ratio Rank: 8

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.

ZROZ vs. IBTE - 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 iBonds Dec 2024 Term Treasury ETF (IBTE). 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	IBTE	Difference
Sharpe ratio Return per unit of total volatility	-0.33	—	—
Sortino ratio Return per unit of downside risk	-0.34	—	—
Omega ratio Gain probability vs. loss probability	0.96	—	—
Calmar ratio Return relative to maximum drawdown	-0.30	—	—
Martin ratio Return relative to average drawdown	-0.53	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZROZ	IBTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	—	—

Dividends

ZROZ vs. IBTE - Dividend Comparison

ZROZ's dividend yield for the trailing twelve months is around 4.98%, while IBTE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund	4.98%	4.96%	4.58%	3.52%	2.76%	1.60%	1.68%	2.22%	2.06%	2.53%	3.00%	2.98%
IBTE iShares iBonds Dec 2024 Term Treasury 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%

Drawdowns

ZROZ vs. IBTE - Drawdown Comparison

The maximum ZROZ drawdown since its inception was -62.93%, which is greater than IBTE's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ZROZ and IBTE.

Drawdown Indicators

	ZROZ	IBTE	Difference
Max Drawdown Largest peak-to-trough decline	-62.93%	0.00%	-62.93%
Max Drawdown (1Y) Largest decline over 1 year	-15.63%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-57.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.93%	—	—
Current Drawdown Current decline from peak	-59.65%	0.00%	-59.65%
Average Drawdown Average peak-to-trough decline	-23.66%	0.00%	-23.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.99%	—	—

Volatility

Volatility by Period

	ZROZ	IBTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.16%	0.00%	+19.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.93%	0.00%	+23.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.09%	0.00%	+22.09%