ZROZ
PIMCO 25+ Year Zero Coupon US Treasury Index ETFZROZ Fund Description
ZROZ 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
PIMCO 25+ Year Zero Coupon US Treasury Index ETF has an MSCI ESG Fund Rating of A based on a score of 6.58 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
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. PIMCO 25+ Year Zero Coupon US Treasury Index ETF ranks in the 72nd percentile within its peer group and in the 93th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
ZROZ Charts And Performance
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ZROZ Summary Data
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 N/A 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 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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