ZTEN vs. GOVZ
ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both exchange-traded funds - ZTEN is a Long-Term Bond fund tracking the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past year, ZTEN returned 5.79% vs 4.27% for GOVZ. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
ZTEN vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, ZTEN achieves a 0.90% return, which is significantly lower than GOVZ's 3.57% return.
ZTEN
- 1D
- 0.48%
- 1M
- 1.30%
- YTD
- 0.90%
- 6M
- 0.68%
- 1Y
- 5.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOVZ
- 1D
- 2.29%
- 1M
- 6.77%
- YTD
- 3.57%
- 6M
- 1.48%
- 1Y
- 4.27%
- 3Y*
- -6.85%
- 5Y*
- -11.18%
- 10Y*
- —
ZTEN vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 0.90% | 9.15% | 0.29% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 3.57% | -1.81% | -4.17% |
Correlation
The correlation between ZTEN and GOVZ is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.82 |
The correlation between ZTEN and GOVZ has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.
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Return for Risk
ZTEN vs. GOVZ — Risk / Return Rank
ZTEN
GOVZ
ZTEN vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZTEN | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.06 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 0.30 | +1.45 |
| Martin ratioReturn relative to average drawdown | 5.44 | 0.66 | +4.79 |
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Drawdowns
ZTEN vs. GOVZ - Drawdown Comparison
The maximum ZTEN drawdown since its inception was -3.43%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for ZTEN and GOVZ.
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Drawdown Indicators
| ZTEN | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.43% | -59.65% | +56.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -14.16% | +10.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.63% | — |
Current DrawdownCurrent decline from peak | -0.73% | -54.49% | +53.76% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -40.04% | +39.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 6.51% | -5.44% |
Volatility
ZTEN vs. GOVZ - Volatility Comparison
The current volatility for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) is 1.46%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.06%. This indicates that ZTEN experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZTEN | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 4.06% | -2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.91% | 10.91% | -7.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.99% | 15.89% | -10.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 23.88% | -18.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.78% | 23.29% | -17.51% |
ZTEN vs. GOVZ - Expense Ratio Comparison
Both ZTEN and GOVZ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ZTEN vs. GOVZ - Dividend Comparison
ZTEN's dividend yield for the trailing twelve months is around 5.04%, more than GOVZ's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 4.95% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.04% | 5.16% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZTEN and GOVZ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.06%) compared to ZTEN (1.46%). In terms of maximum drawdown, ZTEN dropped -3.43% vs GOVZ's -59.65%.
On 1-year performance, ZTEN leads with 5.79% vs 4.27% for GOVZ. Both ETFs have the same 0.15% expense ratio. On volatility, ZTEN has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZTEN has performed better with a 5.79% return vs 4.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZTEN and GOVZ have the same expense ratio: 0.15% per year.
ZTEN has the higher dividend yield at 5.04%, compared with 4.95% for GOVZ.
ZTEN is categorized as Long-Term Bond, while GOVZ is Government Bonds. ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. They also come from different issuers: F/m and iShares.
ZTEN currently has the higher Sharpe Ratio (1.17 vs 0.27), 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.
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