ZROZ
PIMCO 25+ Year Zero Coupon US Treasury Index ETFZROZ Fund Description
The PIMCO 25+ Year Zero Coupon U.S. Treasury Index Fund tracks a market-weighted index comprising separate trading of registered interest and principal of Securities (STRIPs), with a remaining maturity of 25 years+.
ZROZ Factset Analytics Insight
Expect a wild ride here: ZROZ's high-duration play makes it hypersensitive to every twitch in interest rates. It tracks an index of long-term Treasurys with coupon cash flows removed, leaving only the principal repayment at the end. Called STRIPs, these securities are sold at deep discount to face value and make no interest payments until they mature at par. Since STRIPs are zero coupon bonds, they are particularly sensitive to interest-rate risk. As a result, the fund's effective duration is much higher than our benchmark, which in turn produces volatile results compared with vanilla long-dated Treasurys. Frequent traders will face issues here, as modest liquidity and wide spreads make for high trading costs. Large traders may fare better, as liquidity providers can always assemble or disassemble STRIPS as necessary. Holding costs are unpredictable, as ZROZ's moderate fee is marred by poor tracking. Despite the lack of coupons from the underlying zeroes, the fund itself makes quarterly distributions with proceeds from bonds sold at rebalance.
ZROZ MSCI ESG Analytics Insight
The MSCI ESG Fund Quality Score measures the ability of ETF underlying holdings to manage key medium to long-term risks and opportunities arising from environmental, social, and governance factors, as determined by MSCI ESG Research LLC. As of September 23, 2018 the PIMCO 25+ Year Zero Coupon US Treasury Index ETF MSCI ESG Fund Quality Score is 6.89 out of 10.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. ZROZ ranks in the 94th percentile within its peer group and in the 92nd percentile within the global universe of all funds in MSCI ESG Fund Metrics coverage.
ZROZ CHARTS AND PERFORMANCE
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ZROZ Top 10 Countries
ZROZ Top 10 Sectors
ZROZ Top 10 Holdings [View All]
ZROZ Portfolio Data
ZROZ Index Data
ZROZ Portfolio Management
ZROZ Tax Exposures
ZROZ Fund Structure
ZROZ Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of ZROZ. ZROZ is rated a 5 out of 5.
ZROZ Tradability
ZROZ Sector/Industry Breakdown
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ZROZ Top 10 Holdings[View All]
ZROZ Top 5 Countries
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ZROZ Top 5 Currencies
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ZROZ Economic Development
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ZROZ Performance Statistics
ZROZ MSCI ESG Ratings
ZROZ HOLDINGS STATISTICS
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ZROZ MATURITY DISTRIBUTION
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ZROZ CREDIT BREAKDOWN
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Terms of Use
MSCI ESG Research LLC’s ("MSCI ESG") Fund Metrics products (the "Information") provide environmental, social and governance data with respect to underlying securities within more than 24,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted to, nor received approval from, the US SEC or any other regulatory body. None of the Information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information.