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EDV vs ZROZ

Vanguard Extended Duration Treasury ETF

EDVANYSE Arca

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

ZROZBNYSE Arca

Overlap

No data

Expense ratio

EDV −0.10pt a year

EDV0.05%ZROZ0.15%

Avg volume · 30D

EDV 1.6×the volume

EDV1.64MZROZ1M

10Y return · a year

EDV +0.8pt

EDV−3.7%ZROZ−4.5%

EDV vs ZROZ Performance

Oct 29, 2021 – Oct 30, 2026

−48.2%EDV−53.5%ZROZ

Oct 29, 2021 to Oct 30, 2026. EDV −48.2%. ZROZ −53.5%. Use the arrow keys to read each point.−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026
Expense ratio
EDV 0.05%, better
ZROZ 0.15%
Fund size
EDV $4B
ZROZ $1.88B
1Y total return
EDV −9.7%, better
ZROZ −10.7%
Yield (12M)
EDV 5.39%, better
ZROZ 5.24%
Holdings
EDV 83
ZROZ 21
Avg volume (30D)
EDV 1.64M sh, better
ZROZ 1M sh
NAV per share
EDV $59.22
ZROZ $58.32
52W range

ETF.net Grade

EDV: Cost 78, Risk 34, Mission 96, Tradability 48, Holdings 82, Durability 86. ZROZ: Cost 37, Risk 21, Mission 96, Tradability 53, Holdings 57, Durability 74.
Pillar letters and Scores for EDV, ZROZ, with each pillar’s weight
PillarEDVZROZ
Cost30% weightA78HigherD37
Mission25% weightA96A96
Risk15% weightD34HigherF21
Tradability15% weightC48C53Higher
Holdings10% weightA82HigherB57
Durability5% weightA86HigherA74

Rank among Treasuries (20+ Year) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EDV and ZROZ are both graded against the same 11 Treasuries (20+ Year) funds, so their Grades compare head to head.

Treasuries (20+ Year)⁠

Category · 11 funds
See all 11 ›

EDV ranks 3rd and ZROZ 9th of 11 funds in the Treasuries (20+ Year) Category.

  1. Rank 1AVGLTVanguard Long-Term Treasury ETFScore 84
  2. Rank 2ABBLBJPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETFScore 73
  3. Rank 3AEDVVanguard Extended Duration Treasury ETFScore 72
  4. Rank 4BTLTiShares 20+ Year Treasury Bond ETFScore 69
  5. Rank 7BUTWYUS Treasury 20 Year Bond ETFScore 60
  6. Rank 9BZROZPIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded FundScore 55
  7. Rank 10DTFJLInnovator 20+ Year Treasury Bond 5 Floor ETFScore 38

Our read on each fund

ETF.net Research

EDVAVanguard Extended Duration Treasury ETF

ZROZBPIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund

In short

EDV Zero-coupon Treasury STRIPS maturing in 20 to 30 years: the most rate-sensitive corner of the government bond market, in a five-basis-point Vanguard wrapper. Pure duration, nothing else.

ZROZ Nothing but Treasury principal STRIPS, 25 years and out, with zero coupons attached. PIMCO launched it in 2009, and it reacts to long-rate moves harder than standard long Treasury funds.

Stated mandate

EDV The fund passively tracks an index of extended-duration, zero-coupon U.S. Treasury securities, specifically Treasury STRIPS with maturities from 20 to 30 years.

ZROZ The fund seeks total returns that closely track the ICE BofA Long US Treasury Principal STRIPS Index before fees and expenses. It normally invests at least 80% of assets in the index's component securities.

Why people hold it

  • EDV At 0.05%, it undercuts the typical long-Treasury ETF (cohort median 0.15%) and charges a third of what TLT does.
  • STRIPS have their coupons removed, so the roughly 80 holdings are pure principal claims dated 20 to 30 years out. Rate sensitivity runs beyond standard 20+ year Treasury funds.vanguard.com
  • Vanguard has run it since 2007, it tracks its Bloomberg STRIPS index closely, and it sits among the top-rated names in its long-Treasury peer group.
  • ZROZ Pure duration, undiluted: it holds the final principal payments of long Treasuries, which make no interest payments until maturity, so price action is driven almost entirely by long rates.pimco.comtreasurydirect.gov
  • The original on this exposure. Trading since 2009, it beat the other ETF tracking the same STRIPS index (GOVZ) to market by more than a decade.sec.gov
  • It sticks close to its STRIPS index rather than wandering, one of the tighter tracking jobs among long Treasury funds, and it is a multi-billion-dollar fund that trades actively.
  • Credit risk isn't the story here: every position is a US Treasury principal payment, not corporate paper.pimco.com

Worth knowing

  • EDV Vanguard's own fact sheet warns that interest rate risk is expected to be extremely high and that rising rates may cause the fund's value to decline significantly.vanguard.com
  • Vanguard describes the fund as primarily intended for pension plans and other institutions matching long-term liabilities.vanguard.com
  • The STRIPS pay no coupons. Income accrues as the discount pulls toward par, and the fund passes that along to shareholders.vanguard.com
  • ZROZ Duration cuts both ways. With no coupons to cushion, rate moves hit the price harder than in standard 20+ year Treasury funds, and declines can run deep.treasurydirect.gov
  • At 0.15% it sits at its group's median, while VGLT (0.03%) and BBLB (0.04%) price long Treasury exposure lower, using coupon bonds rather than STRIPS.
  • The STRIPS pay nothing until maturity, yet the fund distributes quarterly, so payouts reflect accrued discount rather than coupon checks arriving in the portfolio.treasurydirect.gov

Full EDV profile⁠

Full ZROZ profile⁠

EDV vs ZROZ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EDV vs ZROZ Cost

Overpaying ZROZ vs EDV

$2,077

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EDV 0.05%

    $1,060

  • ZROZ 0.15%

    $3,137

$10,000
30 years

Cost over time

  • EDV 0.05%
  • ZROZ 0.15%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530ZROZ $3,137EDV $1,060

Year by year

YearEDVZROZOverpaying
10$92$274$182
20$360$1,071$711
30$1,060$3,137$2,077

Expense ratio

  • 0.05%EDV, cheaper
  • 0.15%ZROZ
  • Middle half of Treasuries (20+ Year) funds
  • Median 0.15%

EDV 3rd cheapest of 11 funds

ZROZ 6th cheapest of 11 funds

EDV vs ZROZ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EDV 5.39%, better
ZROZ 5.24%
Payout (12M)
EDV $3.19
ZROZ $3.06
Last payment
EDV $0.75
ZROZ $0.55
Ex-dividend
EDV Oct 1, 2026
ZROZ Oct 1, 2026
Paid on
EDV Oct 5, 2026
ZROZ Oct 5, 2026
Frequency
EDV Quarterly
ZROZ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EDVQuarterly · 39 paymentsAll EDV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.70; Jun 28, 2017 $0.85; Sep 27, 2017 $0.82; Dec 26, 2017 $1.16; Mar 16, 2018 $0.79; Jun 18, 2018 $0.84; Sep 24, 2018 $0.84; Dec 13, 2018 $0.83; Mar 21, 2019 $0.82; Jun 21, 2019 $0.79; Sep 26, 2019 $0.83; Dec 23, 2019 $2.11; Apr 1, 2020 $0.84; Jul 1, 2020 $0.80; Oct 1, 2020 $0.70; Dec 23, 2020 $6.10; Apr 1, 2021 $0.65; Jul 1, 2021 $0.70; Oct 1, 2021 $0.71; Dec 23, 2021 $0.68; Apr 1, 2022 $0.64; Jul 1, 2022 $0.71; Oct 3, 2022 $0.68; Dec 23, 2022 $0.69; Apr 3, 2023 $0.67; Jul 3, 2023 $0.73; Oct 2, 2023 $0.74; Dec 22, 2023 $0.74; Apr 1, 2024 $0.77; Jul 1, 2024 $0.78; Oct 1, 2024 $0.77; Dec 24, 2024 $0.84; Apr 1, 2025 $0.79; Jul 1, 2025 $0.81; Oct 1, 2025 $0.80; Dec 18, 2025 $0.81; Apr 1, 2026 $0.76; Jul 1, 2026 $0.87; Oct 1, 2026 $0.75. Use the arrow keys to read each point.$0$52017202020232026YTD
ZROZQuarterly · 39 paymentsAll ZROZ payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Apr 3, 2017 $0.72; Jul 3, 2017 $0.80; Oct 2, 2017 $0.77; Dec 28, 2017 $0.78; Apr 2, 2018 $0.78; Jul 2, 2018 $0.77; Oct 1, 2018 $0.77; Dec 28, 2018 $0.95; Apr 1, 2019 $0.73; Jul 1, 2019 $0.67; Oct 1, 2019 $0.70; Dec 30, 2019 $0.86; Apr 1, 2020 $0.85; Jul 1, 2020 $0.67; Oct 1, 2020 $0.57; Dec 30, 2020 $0.65; Apr 1, 2021 $0.61; Jul 1, 2021 $0.56; Oct 1, 2021 $0.63; Dec 30, 2021 $0.64; Apr 1, 2022 $0.55; Jul 1, 2022 $0.61; Oct 3, 2022 $0.63; Dec 29, 2022 $0.62; Apr 3, 2023 $0.73; Jul 3, 2023 $0.78; Oct 2, 2023 $0.71; Dec 28, 2023 $0.78; Apr 1, 2024 $0.77; Jul 1, 2024 $0.77; Oct 1, 2024 $0.76; Dec 31, 2024 $0.84; Apr 1, 2025 $0.78; Jul 1, 2025 $0.79; Oct 1, 2025 $0.74; Dec 31, 2025 $0.88; Apr 1, 2026 $0.82; Jul 1, 2026 $0.81; Oct 1, 2026 $0.55. Use the arrow keys to read each point.$0$52017202020232026YTD

EDV vs ZROZ Risk

Fall from peak · 5 years

  • EDV
  • ZROZ
Oct 29, 2021 to Oct 30, 2026. Worst fall: ZROZ −60.9% · Oct 2026. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EDV 19.4%, betterZROZ 21.6%
Return per unit of riskSharpe ratio, 3 years
EDV −0.02, betterZROZ −0.07
Worst fallMax drawdown, 5 years
EDV −55.5%, betterZROZ −60.9%
Market sensitivityBeta, 5 years
EDV 3.44ZROZ 3.67

EDV and ZROZ in the news

All news⁠

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