ASA vs ZROZ

Comparison between ASA Gold and Precious Metals Ltd (ASA, ETF) and PIMCO 25+ YEAR ZERO COUPON U.S. TREASURY INDEX EXCHANGE-TRADED FUND (ZROZ, ETF).

5-Year PerformanceASA has outperformed ZROZ, delivering a return of +25.0% compared to -11.4%

ASA vs ZROZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ASA(ETF)	ZROZ(ETF)
Net Assets	$1.40B	$1.40B
Expense Ratio	N/A	0.15%
Max Drawdown	81.29%	67.48%
Sharpe Ratio	1.92	-0.21
5Y Beta	0.65	0.11
5Y Dividends CAGR	37.97%	3.66%

Net Assets

ASA

$1.40B

ZROZ

$1.40B

Expense Ratio

ASA

N/A

ZROZ

0.15%

Max Drawdown

ASA

81.29%

Winner

ZROZ

67.48%

Sharpe Ratio

Winner

ASA

1.92

ZROZ

-0.21

5Y Beta

ASA

0.65

Winner

ZROZ

0.11

5Y Dividends CAGR

Winner

ASA

37.97%

ZROZ

3.66%

ASA vs ZROZ - Historical Returns

Returns include dividend reinvestment.

Period	ASA	ZROZ
1 month	+6.31%	-1.33%
3 months	-1.90%	-0.95%
6 months	+50.77%	-4.75%
1 year	+130.76%	+0.27%
5 years(CAGR)	+25.02%	-11.36%
10 years(CAGR)	+19.10%	-3.79%
Max(CAGR)	+10.70%	+2.14%

Winner

ASA

+6.31%

ZROZ

-1.33%

ASA

-1.90%

Winner

ZROZ

-0.95%

Winner

ASA

+50.77%

ZROZ

-4.75%

Winner

ASA

+130.76%

ZROZ

+0.27%

5Y(CAGR)

Winner

ASA

+25.02%

ZROZ

-11.36%

10Y(CAGR)

Winner

ASA

+19.10%

ZROZ

-3.79%

Max(CAGR)

Winner

ASA

+10.70%

ZROZ

+2.14%

ASA vs ZROZ - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	ASA	ZROZ
2026	+18.74%	-0.16%
2025	+185.28%	-1.87%
2024	+33.84%	-15.03%
2023	+2.44%	-1.52%
2022	-31.22%	-39.26%
2021	-8.86%	-4.79%
2020	+59.82%	+22.56%
2019	+44.51%	+20.05%
2018	-17.92%	-3.51%
2017	-0.27%	+13.87%
2016	+52.33%	-0.31%
2015	-30.87%	-7.39%
2014	-18.39%	+48.29%
2013	-44.28%	-19.11%
2012	-18.82%	+3.51%
2011	-22.09%	+61.75%
2010	+32.28%	+9.96%
2009	+57.63%	-6.29%
2008	-31.94%	N/A
2007	+22.37%	N/A
2006	+10.44%	N/A
2005	+44.00%	N/A
2004	-9.96%	N/A
2003	+13.32%	N/A
2002	+111.50%	N/A
2001	+31.88%	N/A
2000	-18.67%	N/A
1999	-2.87%	N/A

ASA vs ZROZ Drawdown Comparison

The maximum drawdown for ASA was -80.31%, occurring on Jan 19, 2016. Recovery took 3643 trading sessions.

The maximum drawdown for ZROZ was -62.94%, occurring on Oct 19, 2023. This drawdown has not yet recovered.

The current ASA drawdown is -14.92%. The current ZROZ drawdown is -59.76%.

Rank	ASA	ZROZ
#1	-80.31% Dec 6, 2010 - Jun 2, 2025	-62.94% Mar 9, 2020 - Oct 19, 2023
#2	-65.13% Mar 14, 2008 - Sep 14, 2010	-32.29% Jul 25, 2012 - Dec 11, 2014
#3	-35.70% Jun 3, 2002 - Dec 13, 2002	-28.88% Aug 26, 2010 - Aug 10, 2011
#4	-32.51% Feb 27, 2026 - Mar 20, 2026	-25.82% Jan 30, 2015 - Jun 27, 2016
#5	-31.72% Nov 10, 1999 - May 16, 2001	-25.21% Jul 8, 2016 - Aug 2, 2019
#6	-28.66% Dec 2, 2003 - Sep 29, 2005	-18.35% Oct 3, 2011 - Dec 19, 2011
#7	-27.87% May 9, 2006 - Sep 25, 2007	-17.49% Dec 19, 2011 - May 17, 2012
#8	-23.62% Jan 3, 2003 - Aug 11, 2003	-15.67% Nov 27, 2009 - May 6, 2010
#9	-23.37% May 18, 2001 - Jan 16, 2002	-12.23% Aug 28, 2019 - Feb 20, 2020
#10	-17.89% Feb 2, 2006 - Apr 19, 2006	-9.10% Aug 10, 2011 - Aug 18, 2011
#11	-17.24% Oct 16, 2025 - Dec 1, 2025	-8.29% May 6, 2010 - May 20, 2010
#12	-17.12% Jan 28, 2026 - Feb 24, 2026	-7.85% Sep 22, 2011 - Oct 3, 2011
#13	-15.06% Nov 6, 2007 - Jan 3, 2008	-7.18% Aug 19, 2011 - Sep 2, 2011
#14	-11.68% Feb 8, 2002 - Mar 22, 2002	-7.09% Jun 1, 2012 - Jul 20, 2012
#15	-11.43% Jun 5, 2025 - Aug 7, 2025	-6.88% Jul 1, 2010 - Aug 16, 2010

Correlation

Correlation between ASA and ZROZ is -0.31 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.31

-101

Dividend Comparison (2000 - 2026)

ASA vs ZROZ dividend yield comparison.

Year	ASA	ZROZ
2026	0.06%	1.30%
2025	0.10%	4.96%
2024	0.20%	4.58%
2023	0.13%	3.52%
2022	0.14%	2.76%
2021	0.09%	1.60%
2020	0.09%	1.68%
2019	0.15%	2.22%
2018	0.32%	2.06%
2017	0.35%	2.53%
2016	0.36%	3.00%
2015	0.56%	2.98%
2014	0.40%	2.60%
2013	1.47%	4.28%
2012	1.76%	3.16%
2011	1.37%	2.99%
2010	0.98%	4.55%
2009	1.81%	0.74%
2008	3.92%	0.00%
2007	3.06%	0.00%
2006	1.39%	0.00%
2005	1.64%	0.00%
2004	1.36%	0.00%
2003	1.76%	0.00%
2002	1.95%	0.00%
2001	4.00%	0.00%
2000	1.96%	0.00%