IVV vs ZROZ
iShares Core S&P 500 ETF vs PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund
Which is better, IVV or ZROZ?
Large Cap Blend against Long Term Government Bond.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | ZROZ |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.15% |
| AUM | $876.4B | $1.6B |
| Dividend Yield | 1.06% | 5.53% |
| Holdings | 508 | 23 |
| YTD Return | +12.51%Best | -7.24% |
| 1Y Return | +17.57%Best | -12.05% |
| 3Y Return (annualized) | +21.27%Best | -6.26% |
| 5Y Return (annualized) | +12.95%Best | -14.63% |
| Volatility (annualized) | 14.4%Best | 21.7% |
| Max Drawdown | -33.9%Best | -63.7% |
| $10,000 over 5 years | $18,384Best | $4,534 |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Long Term Government Bond |
| Inception | May 15, 2000 | Oct 30, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 4, 2009 to Sep 11, 2026 (16.9 years).
IVV vs ZROZ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.9 years both funds cover.
IVV vs ZROZ Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund (ZROZ) is an ETF from PIMCO (US). Over the past year IVV returned +17.57% while ZROZ returned -12.05%. Year to date, IVV is up 12.51% versus a loss of 7.24% for ZROZ.
Over three years, IVV compounded at +21.27% per year against -6.26% for ZROZ; over five years the annualized figures are +12.95% and -14.63% respectively. Across the full 17-year window we track, IVV has the edge at +13.04% annualized vs -0.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ZROZ has been the more volatile fund, with annualized monthly volatility of 21.7% compared with 14.4% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.9% for IVV and -63.7% for ZROZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.11. They move largely independently of each other.
Fees and Cost Over Time
IVV charges 0.03% per year while ZROZ charges 0.15%. On a $10,000 position that is $3 vs $15 annually, a gap of $12 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 5.53% for ZROZ.
Holdings Overlap
We hold position weights for 505 holdings in IVV and 19 in ZROZ, totalling 100.0% and 86.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 505 positions we hold weights for in IVV and 19 in ZROZ, against full books of 508 and 23.
You are not choosing between two funds in isolation.
Whichever of IVV and ZROZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or ZROZ?
IVV has an expense ratio of 0.03% while ZROZ charges 0.15%. IVV is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, IVV or ZROZ?
Over the past year IVV returned +17.57% vs -12.05% for ZROZ, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +13.04% vs -0.33% for ZROZ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or ZROZ?
ZROZ has been the more volatile fund at 21.7% annualized versus 14.4% for IVV. Worst drawdown: IVV -33.9% vs ZROZ -63.7%.
Should I hold both IVV and ZROZ?
IVV and ZROZ have a monthly-return correlation of -0.11, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or ZROZ?
IVV yields 1.06% while ZROZ yields 5.53%, so ZROZ currently pays the higher dividend yield.
Is ZROZ better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.