TLT vs ZROZ
iShares 20+ Year Treasury Bond ETF compared with PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund on yield, payout growth, payment schedule, cost and risk.
TLT
iShares 20+ Year Treasury Bond ETF
TTM yield · Monthly
ZROZ
PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund
TTM yield · Quarterly
Quick take
- ZROZ yields more today: 5.49% vs 4.73% (forward).
- TLT pays every month; ZROZ pays every quarter.
- Over the last year TLT delivered the higher total return: -0.6% vs -2.0% (price change plus payouts).
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | TLT | ZROZ |
|---|---|---|
| Share price | $82.21 | $59.04 |
| TTM yield | 4.73% | 5.50% |
| Forward yield | 4.73% | 5.49% |
| Annual payout per share | $3.89 | $3.24 |
| Payment frequency | Monthly | Quarterly |
| Next ex-date | Oct 1, 2026 (est.) | Sep 30, 2026 (est.) |
| Expense ratio | 0.15% | 0.15% |
| 1-year payout growth | — | +2.5% |
| 5-year payout CAGR | — | +6.3% |
| Consecutive years of increases | — | 3 years |
| Payout consistency (last 12) | 96/100 | 94/100 |
| 1-year total return | -0.6% | -2.0% |
| 1-year price return | -5.1% | -7.1% |
| Size (market cap / AUM) | 47.0B | 1.6B |
| Years paying | 24.0 | 16.7 |
| Sector / category | Long Government | Long Government |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| TLT | ZROZ | |
|---|---|---|
| Shares | 121.6 | 169.4 |
| Income per year | $473 | $549 |
| Income per month (avg) | $39 | $46 |
At forward yields, before taxes. Model TLT · Model ZROZ
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| TLT Oct 1, 2026 | Oct 4, 2026 | $0.3242 | Est. |
| TLT Oct 31, 2026 | Nov 3, 2026 | $0.3242 | Est. |
| TLT Nov 30, 2026 | Dec 3, 2026 | $0.3242 | Est. |
| ZROZ Sep 30, 2026 | Oct 14, 2026 | $0.81 | Est. |
| ZROZ Dec 30, 2026 | Jan 13, 2027 | $0.81 | Est. |
| ZROZ Mar 31, 2027 | Apr 14, 2027 | $0.81 | Est. |
Annual payouts per share
TLTZROZ
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, TLT or ZROZ?
ZROZ currently has the higher trailing yield: TLT yields 4.73% and ZROZ yields 5.50%. Yield changes daily with price, so check the live figures above.
How often do TLT and ZROZ pay?
TLT pays every month and ZROZ pays every quarter. TLT's next ex-date is Oct 1, 2026 and ZROZ's is Sep 30, 2026.
Is TLT or ZROZ better for income?
It depends on what you are optimising for. TLT and ZROZ differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.