PIMCO 25+ Year Zero Coupon U.S. Treasury… (ZROZ) Bond Profile
ZROZ bond portfolio
Fund statistics as of Oct 25, 2026- Yield to maturity
- 5.94% if bonds are held to maturity
- Effective duration
- 28.49 yrs ≈ 28.5% price change per 1% rate move
- Average maturity
- 27.4 yrs
- Average bond price
- 23.77 per 100 of face value
- Distribution yield
- 6.03% trailing 12 months
- Expense ratio
- 0.14%
- Turnover
- 25% a year
- Net assets
- $1.86B
Interest-rate sensitivity
ZROZ has an effective duration of 28.49 years: long-term interest-rate sensitivity. Peer funds are marked below the scale.
Effective duration in years. Short-term funds have a duration under 3 years, long-term funds over 10.
What a rate change would do to ZROZ
Estimate for an immediate, parallel move in yields: price change ≈ −duration × rate change; 12-month return adds the 5.94% yield to maturity. Ignores convexity and changes in credit spreads.
ZROZ vs other bond ETFs
| ETF | Fund | Duration | Maturity | YTM | Dist. yield | Expense | 1-year return |
|---|---|---|---|---|---|---|---|
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | 0.16 | 0.2 | 3.91% | 3.63% | 0.12% | +3.8% |
| SHY | iShares 1-3 Year Treasury Bond ETF | 1.81 | 1.9 | 4.88% | 3.64% | 0.15% | +1.7% |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | 3.26 | 5.6 | 7.97% | 6.09% | 0.48% | +1.1% |
| VGIT | Vanguard Intermediate-Term Treasury ETF | 4.70 | 5.3 | 5.36% | 4.06% | 0.04% | −1.2% |
| GOVT | iShares U.S. Treasury Bond ETF | 5.20 | 7.4 | 4.87% | 3.67% | 0.05% | −1.1% |
| IUSB | iShares Core Total USD Bond Market ETF | 5.36 | 7.9 | 5.58% | 4.44% | 0.05% | −0.9% |
| BND | Vanguard Total Bond Market ETF | 5.54 | 7.9 | 5.72% | 4.17% | 0.03% | −1.1% |
| SCHZ | Schwab U.S. Aggregate Bond ETF | 5.76 | 8.3 | 5.64% | 4.44% | 0.02% | −1.1% |
| AGG | iShares Core U.S. Aggregate Bond ETF | 5.79 | 7.9 | 5.33% | 4.30% | 0.03% | −1.1% |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | 5.92 | 7.8 | 6.00% | 5.22% | 0.03% | −1.6% |
| TIP | iShares TIPS Bond ETF | 6.00 | 7.3 | 4.86% | 4.80% | 0.18% | −1.0% |
| IEF | iShares 7-10 Year Treasury Bond ETF | 7.06 | 8.7 | 5.08% | 4.18% | 0.14% | −2.8% |
| MUB | iShares National Muni Bond ETF | 7.29 | 12.1 | 4.56% | 3.26% | 0.04% | −0.7% |
| LQD | iShares iBoxx $ Investment Grade Corporate… | 7.79 | 12.8 | 6.48% | 4.68% | 0.14% | −3.5% |
| TLT | iShares 20+ Year Treasury Bond ETF | 14.12 | 24.8 | 5.65% | 5.00% | 0.14% | −6.7% |
| ZROZ | PIMCO 25+ Year Zero Coupon U.S. Treasury… | 28.49 | 27.4 | 5.94% | 6.03% | 0.14% | −12.8% |
Sorted by duration. Longer duration usually pays a higher yield but swings more with interest rates; corporate and high-yield funds add credit risk.
ZROZ asset allocation
- Bonds
- 93.7% long positions
- Cash held
- 6.3%
- Net cash
- 6.3% held minus owed
Long positions can add up to more than 100% when the fund buys bonds for later settlement; the short cash line offsets them.
About the ZROZ bond portfolio
PIMCO 25+ Year Zero Coupon U.S. Treasury… holds a portfolio of bonds. They yield 5.94% to maturity and an average maturity of 27.4 years. With an effective duration of 28.49 years, a one-percentage-point rise in interest rates would lower the fund's price by about 28.5%, and a fall of the same size would raise it by about as much.
Over the next 12 months, rates could rise by about 0.21 percentage points before the price drop would cancel out a year of yield. The worst 12-month return in the fund's price history was −44.2%, and the worst calendar year 2022 (−41.3%).
EODHD does not publish the individual bonds held, so this page uses the fund-level statistics; the full list of bonds is on the issuer's website.
Related: ZROZ chart, ZROZ performance, ZROZ dividends, ZROZ overview.
ZROZ bond profile FAQ
What is the yield to maturity of ZROZ?
The bonds in ZROZ have an average yield to maturity of 5.94% as of October 25, 2026. The trailing 12-month distribution yield is 6.03%.
What is the duration of ZROZ?
ZROZ has an effective duration of 28.49 years and an average maturity of 27.4 years, which makes it a long-term bond fund.
How do interest rates affect ZROZ?
With a duration of 28.49 years, ZROZ's price falls about 28.5% for every one-percentage-point rise in interest rates and rises about as much when rates fall. Higher rates also raise the yield on new bonds the fund buys.
How much can rates rise before ZROZ loses money?
Over 12 months, yields could rise about 0.21 percentage points before the price decline would offset the 5.94% yield, assuming a one-time move (yield to maturity ÷ duration).