ZTEN vs. UTWY
ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) and UTWY (F/m US Treasury 20 Year 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 UTWY is a Government Bonds fund tracking the Bloomberg US Treasury Bellwether 20 Year Index. Both are passively managed. Over the past year, ZTEN returned 2.64% vs -1.24% for UTWY. Their correlation of 0.90 means they have usually moved in the same direction. Both charge a 0.15% expense ratio.
Performance
ZTEN vs. UTWY - Performance Comparison
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Returns By Period
In the year-to-date period, ZTEN achieves a -0.52% return, which is significantly higher than UTWY's -2.81% return.
ZTEN
- 1D
- 0.37%
- 1M
- -1.32%
- 6M
- -0.50%
- YTD
- -0.52%
- 1Y
- 2.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.41%
UTWY
- 1D
- 0.43%
- 1M
- -2.81%
- 6M
- -2.47%
- YTD
- -2.81%
- 1Y
- -1.24%
- 3Y*
- 0.01%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $116.12K | $62.48K | $64.76K | |
| $49.86K | $45.25K | $108.93K |
ZTEN vs. UTWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | -0.52% | 9.15% | 0.29% |
UTWY F/m US Treasury 20 Year Bond ETF | -2.81% | 4.82% | -0.95% |
Correlation
The correlation between ZTEN and UTWY is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.90 |
The correlation between ZTEN and UTWY has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.
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Return for Risk
ZTEN vs. UTWY — Risk / Return Rank
ZTEN
UTWY
ZTEN vs. UTWY - 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 F/m US Treasury 20 Year Bond ETF (UTWY). 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 | UTWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.98 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.18 | +0.98 |
| Martin ratioReturn relative to average drawdown | 2.21 | -0.41 | +2.62 |
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Drawdowns
ZTEN vs. UTWY - Drawdown Comparison
The maximum ZTEN drawdown since its inception was -3.43%, smaller than the maximum UTWY drawdown of -18.19%. Use the drawdown chart below to compare losses from any high point for ZTEN and UTWY.
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Drawdown Indicators
| ZTEN | UTWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.43% | -18.19% | +14.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -6.72% | +3.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.88% | — |
Current DrawdownCurrent decline from peak | -2.13% | -8.08% | +5.95% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -6.98% | +6.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 3.03% | -1.83% |
Volatility
ZTEN vs. UTWY - Volatility Comparison
The current volatility for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) is 1.38%, while F/m US Treasury 20 Year Bond ETF (UTWY) has a volatility of 2.16%. This indicates that ZTEN experiences smaller price fluctuations and is considered to be less risky than UTWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZTEN | UTWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 2.16% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 6.02% | -1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.90% | 7.74% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.71% | 10.97% | -5.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.71% | 10.97% | -5.26% |
ZTEN vs. UTWY - Expense Ratio Comparison
Both ZTEN and UTWY 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. UTWY - Dividend Comparison
ZTEN's dividend yield for the trailing twelve months is around 5.11%, more than UTWY's 4.83% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | 4.83% | 4.62% | 4.56% | 2.94% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.11% | 5.16% | 0.44% | 0.00% |
Frequently Asked Questions
ZTEN and UTWY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTWY has higher volatility (2.16%) compared to ZTEN (1.38%). In terms of maximum drawdown, ZTEN dropped -3.43% vs UTWY's -18.19%.
On 1-year performance, ZTEN leads with 2.64% vs -1.24% for UTWY. Both ETFs have the same 0.15% expense ratio. On volatility, ZTEN has been the lower-risk option at 1.38%. 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 2.64% return vs -1.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZTEN and UTWY have the same expense ratio: 0.15% per year.
ZTEN has the higher dividend yield at 5.11%, compared with 4.83% for UTWY.
ZTEN is categorized as Long-Term Bond, while UTWY is Government Bonds. ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index.
ZTEN currently has the higher Sharpe Ratio (0.54 vs -0.16), 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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