ZROZ — PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund

ZROZ Price Performance — Growth of $10,000

Value of a $10,000 investment in ZROZ over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

ZROZ Drawdown

The "underwater" chart: ZROZ's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund (ZROZ) operates within the US Bonds - Government category, which ETFValuer tracks with 22 total funds. Issued by PIMCO, this fund holds an asset base of $1.37 billion and trades at a price of $59.78. It carries an overall rank of #428 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of D with a score of 37.4 out of 100. The fund charges an expense ratio of 0.15% while offering a dividend yield of 5.03%. The combination of a mid-tier asset size and a low ranking suggests limited relative adoption compared to higher-ranked peers in the sector. These metrics collectively define the fund's current market position and cost structure for investors.

Recent performance data shows a 1-day return of -0.08% and a 1-week decline of -1.94%, indicating immediate downward pressure. Over the past month, the fund dropped 7.66%, followed by a 3-month loss of 4.38% and a 6-month decline of 5.56%. Year-to-date returns stand at -4.07%, while the 1-year return is -1.22%. The longer-term trajectory is more severe, with a 3-year return of -21.99%. This pattern reveals a divergence where short-term losses have been sharper than the 1-year figure, yet the multi-year horizon reflects significant cumulative erosion of value.

ZROZ is assigned a Moderate volatility label despite exhibiting a high Beta of 3.68, which indicates price movements that are significantly more sensitive than the broader market. The fund's Sharpe ratio of -0.40 suggests that the returns generated have not adequately compensated investors for the level of risk taken. This risk profile is further evidenced by a maximum drawdown of -26.50%, representing the largest peak-to-trough decline recorded. The combination of a high Beta and negative Sharpe ratio implies that the fund has experienced substantial downside moves without sufficient offsetting gains during the measured periods. Investors should note that the Moderate volatility classification contrasts with the high Beta and deep drawdown figures provided.

AI-generated summary based on the data on this page.

ZROZ Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 55.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how ZROZ's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With ZROZ

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with ZROZ's top 10 — MINT overlaps most, holding 1 of the same companies as ZROZ's top 10 (55.3% of ZROZ's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ZROZ Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.67% and average daily volume is 630K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.37B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: ZROZ is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

ZROZ Performance History

How ZROZ Compares to Other US Bonds - Government ETFs