Which returned more over the last year, TLH or ZROZ?

In the year to Oct 28, 2026, with distributions reinvested, TLH returned −5.6% and ZROZ −14.4%.

Which is cheaper, TLH or ZROZ?

Neither: TLH and ZROZ both charge 0.15% a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

TLH vs ZROZ: Differences, Returns & Fees

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TLH's duration was 11.8 years on Aug 31, 2026 and ZROZ's 27.2 on Jun 30, 2026; both charge 0.15%.

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Net assets: $12.1bn on Oct 27, 2026 for iShares 10-20 Year Treasury Bond ETF, and $1.4bn on Jun 30, 2026 for PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund.

TLH on its own →ZROZ on its own →

At a glance

−5.6%

TLH total return, 1 year

−14.4%

ZROZ total return, 1 year

0.15%

TLH expense ratio

0.15%

ZROZ expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 8.8 points.

Points (pts) are percentage points.

TLH vs ZROZ: Differences, Returns & Fees
Measure	TLH	ZROZ
Return
Measure	TLH	ZROZ
Total return, 1 year	−5.6%	−14.4%
Drawdown
Measure	TLH	ZROZ
Below its high	31.8%, high on Aug 4, 2020	62.2%, high on Mar 9, 2020
Benchmark
Measure	TLH	ZROZ
What it tracks	ICE U.S. Treasury 10-20 Year Bond Index	ICE BofA Long US Treasury Principal STRIPS Index
Cost and size
Measure	TLH	ZROZ
Expense ratio	0.15%	0.15%
Net assets, TLH as of Oct 27, 2026 and ZROZ as of Jun 30, 2026	$12.1bn	$1.4bn
Holdings
Measure	TLH	ZROZ
Holdings in common	0%

Holdings in common uses holdings dated Jun 30, 2026 and Aug 31, 2026. Method

Risk and return

Nov 13, 2009 to Oct 23, 2026 · 884 weekly returns

TLH ZROZ

Return

Total return edge TLH (slight) +37.7% +35.8%

Annualized edge TLH (slight) +1.9% +1.8%

Price return edge TLH −13.4% −20.2%

Risk

Volatility edge TLH 9.7% 22.2%

Max drawdown edge TLH −40.4% −64.4%

Risk-adjusted

Sharpe edge ZROZ 0.09 0.12

Sortino edge ZROZ 0.12 0.18

Calmar edge TLH 0.05 0.03

Reading

TLH returned slightly more: +37.7% to +35.8%. TLH swung less: 9.7% to 22.2%. TLH fell less at its worst: −40.4% to −64.4%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: TLH vs ZROZ: Differences, Returns & Fees
Measure	TLH	ZROZ	Edge	How it is measured
Return
Total return	+37.7%	+35.8%	TLH (slight)	Price change plus distributions, reinvested.
Annualized	+1.9%	+1.8%	TLH (slight)	Total return as a yearly rate.
Price return	−13.4%	−20.2%	TLH	Price change alone, distributions left out.
Risk
Volatility	9.7%	22.2%	TLH	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	7.0%	15.4%	TLH	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−40.4%	−64.4%	TLH	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.09	0.12	ZROZ	Return above Treasury bills per unit of volatility.
Sortino	0.12	0.18	ZROZ	Return above Treasury bills per unit of downside deviation.
Calmar	0.05	0.03	TLH	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 884 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, TLH and ZROZ hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first TLH ZROZ

Only in one fund ↓

Only in TLH

U.S. Treasury Bonds, due Feb 15, 2044 3.97%

U.S. Treasury Bonds, due Aug 15, 2044 3.95%

U.S. Treasury Bonds, due May 15, 2043 3.51%

U.S. Treasury Bonds, due Nov 15, 2045 3.32%

U.S. Treasury Bonds, due Nov 15, 2042 3.31%

U.S. Treasury Bonds, due Feb 15, 2045 3.31%

U.S. Treasury Bonds, due Aug 15, 2043 3.28%

U.S. Treasury Bonds, due Nov 15, 2043 3.19%

Only in ZROZ

U.S. Treasury STRIPS Principal, due Feb 15, 2052 5.55%

U.S. Treasury STRIPS Principal, due Feb 15, 2055 5.48%

U.S. Treasury STRIPS Principal, due May 15, 2051 5.42%

U.S. Treasury STRIPS Principal, due May 15, 2052 5.40%

U.S. Treasury STRIPS Principal, due Nov 15, 2051 5.29%

U.S. Treasury STRIPS Principal, due Aug 15, 2052 5.27%

U.S. Treasury STRIPS Principal, due Feb 15, 2053 5.26%

U.S. Treasury STRIPS Principal, due Nov 15, 2053 5.26%

Check overlap with more funds →

Side by side

TLH iShares 10-20 Year Treasury Bond ETF ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund

Where it sits Bond ETF Bond ETF

Issuer iShares PIMCO

What it is Tracks an index Tracks an index

Total return, 1 year −5.6% −14.4%

Its benchmark over the same days not measured −14.4% (GOVZ)

Gap to its benchmark not measured 0.0 pts vs GOVZ

Expense ratio 0.15% 0.15%

Holdings 61 20

Net assets, TLH as of Oct 27, 2026 and ZROZ as of Jun 30, 2026 $12.1bn $1.4bn

TLH and ZROZ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-4B9668367C

TLH and ZROZ are built for the same job. How do they differ in cost, holdings and results?

What each follows. TLH follows ICE U.S. Treasury 10-20 Year Bond Index and ZROZ follows ICE BofA Long US Treasury Principal STRIPS Index.
Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026 and Jun 30, 2026).
One-year total return. Over 1 year to Oct 28, 2026 TLH returned −5.6% and ZROZ −14.4% with distributions reinvested, a gap of 8.8 points.

Data as of Oct 28, 2026.

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About each fund

TLH

TLH tracks an index. Over the year to Oct 28, 2026 it returned −5.6% with distributions reinvested. The prospectus expense ratio is 0.15% a year. It sat 31.8% below its high of Aug 4, 2020 on Oct 28, 2026.

ZROZ

ZROZ tracks an index. Over the year to Oct 28, 2026 it returned −14.4% with distributions reinvested, against −14.4% for its benchmark, the ICE BofA Long US Treasury Principal STRIPS Index. It sat 62.2% below its high of Mar 9, 2020 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, TLH or ZROZ?: In the year to Oct 28, 2026, with distributions reinvested, TLH returned −5.6% and ZROZ −14.4%.
Which is cheaper, TLH or ZROZ?: Neither: TLH and ZROZ both charge 0.15% a year. Fees come from each fund's prospectus.

Other comparisons

TLH vs XTEN GOVI vs TLH TLH vs VGLT SPTL vs TLH GOVI vs ZROZ XTEN vs ZROZ EDV vs ZROZ TLT vs ZROZ

Where to next

TLH on its own →ZROZ on its own →Hold both: look the portfolio through →Rankings →TLH dividend history →TLH holdings →ZROZ dividend history →ZROZ holdings →Standards and sources →

Sources and dates

TLH filings on SEC EDGAR ↗

TLH prospectus with the expense ratio (SEC) ↗

iShares page for TLH ↗

ZROZ filings on SEC EDGAR ↗

ZROZ prospectus with the expense ratio (SEC) ↗

PIMCO website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, TLH against ZROZ, data as of Oct 28, 2026. https://etfiq.com/compare/any/tlh-vs-zroz

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.