--- title: "Long-Duration Bond ETFs Face 'Pain' As 30-Year Treasury Yield Tops 5%, Says Charlie Bilello" type: "News" locale: "en" url: "https://longbridge.com/en/news/287618415.md" description: "Charlie Bilello, chief market strategist at Creative Planning, warns that surging Treasury yields have led to historic drawdowns in long-duration bond ETFs, with some down over 60% since March 2020. The 30-Year Treasury yield has risen from 0.8% to over 5%, negatively impacting bond prices. Despite this, fixed-income ETFs have attracted $156.19 billion in inflows this year, indicating investor positioning for a potential recovery in the bond market." datetime: "2026-05-26T10:10:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287618415.md) - [en](https://longbridge.com/en/news/287618415.md) - [zh-HK](https://longbridge.com/zh-HK/news/287618415.md) --- # Long-Duration Bond ETFs Face 'Pain' As 30-Year Treasury Yield Tops 5%, Says Charlie Bilello **Charlie Bilello,** the chief market strategist at Creative Planning, highlighted that rising yields have badly beaten down the U.S. bond market, especially ETFs targeting the long-end of the yield curve. The long-duration bond ETFs like **PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF** (NYSE:ZROZ), **iShares 20+ Year Treasury Bond ETF** (NASDAQ:TLT), **Vanguard Long-Term Treasury ETF** (NASDAQ:VGLT), and **Vanguard Extended Duration Treasury ETF** (NYSE:EDV) are among the laggards.   ## **High Yields Hurt Bond ETFs** In Monday's post on X, Bilello said that ZROZ has dropped drastically by over 60% from its peak in March 2020. When bond yields rise, bond prices decline due to their inverse relationship. "The 30-Year Treasury yield has moved from an all-time low of 0.8% in March 2020 to over 5% today," leading to the largest drawdowns in history, said Bilello. He described, "Long duration + Rising interest rates = Pain." > The longest duration bond ETF is down over 60% from its peak in March 2020. > > How is that possible? > > The 30-Year Treasury yield has moved from an all-time low of 0.8% in March 2020 to over 5% today. > > Long duration + Rising interest rates = Pain > > Video: https://t.co/bigdjJMJWF pic.twitter.com/Cj47A9zoP7 > > — Charlie Bilello (@charliebilello) May 25, 2026 The 30-year yields are trading at the highest since July 2007. The 10-year yields rose to 4.51% from an all-time low of 0.32% in March 2020, while 2-year yields climbed to 4.07% from a record low of 0.23%.   **Read Also: Nvidia Surpasses Taiwan And India Stock Markets As Analysts Eye $10 Trillion Valuation** ## **ETFs in Focus** **PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF** This fund tracks the BofA Merrill Lynch Long Treasury Principal STRIPS Index. It has $1.4 billion in assets under management (AUM) and trades in an average daily volume of 510,000 shares. It charges 0.15% in annual fees. ZROZ has lost 4.5% since the start of the year. **Benzinga Edge Stock Rankings** indicate that ZROZ has a weak Momentum score in the 18th percentile. It maintains a weak price trend in the short, medium, and long term. **iShares 20+ Year Treasury Bond ETF** TLT follows the ICE US Treasury 20+ Year Bond Index and charges 15 bps in annual fees. It is among the most popular and liquid ETFs in the bond space, with AUM of $42.8 billion and an average daily volume of nearly 26 million shares. The ETF is down 2.8% year-to-date and about 44% from its March 2020 peak. **Benzinga Edge Stock Rankings** indicate that TLT has a weak Momentum score in the 20th percentile. It maintains a weak price trend in the short, medium, and long term. **Vanguard Long-Term Treasury ETF** With an AUM of $10 billion, VGLT tracks the Bloomberg US Long Treasury Bond Index. It has an expense ratio of 0.03% and trades in an average daily volume of nearly 2 million shares. The ETF has shed 3% in value this year so far and about 67% since its March 2020 peak. **Benzinga Edge Stock Rankings** indicate that VGLT has a weak Momentum score in the 22nd percentile. It maintains a weak price trend in the short, medium, and long term. **Vanguard Extended Duration Treasury ETF** EDV follows the Bloomberg U.S. Treasury STRIPS 20–30 Year Equal Par Bond Index. It has an expense ratio of 0.05% and trades in a volume of nearly 2 million shares per day on average. The ETF has $3.6 billion in AUM and has shed 3.7% since the start of the year. EDV is down about 67% since its March 2020 peak. **Benzinga Edge Stock Rankings** indicate that EDV has a weak Momentum score in the 19th percentile. It maintains a weak price trend in the short, medium, and long term. **Bond ETFs Attract Inflows** While rising yields have hurt the performance, the fixed-income ETFs have attracted $156.19 billion in inflows so far this year, ahead of the $98.19 billion recorded during the same period last year. Strong inflows come despite persistent concerns around elevated Treasury yields and the Federal Reserve’s higher-for-longer stance, suggesting investors are positioning for a bond market recovery. **Read Also: Trump's Possible Iran Deal Is Putting Gold ETFs Back In Focus As Bullion Prices Climb** _Photo courtesy: Jason Raff on Shutterstock.com_ ### Related Stocks - [VGLT.US](https://longbridge.com/en/quote/VGLT.US.md) - [IEF.US](https://longbridge.com/en/quote/IEF.US.md) - [GOVT.US](https://longbridge.com/en/quote/GOVT.US.md) - [UTHY.US](https://longbridge.com/en/quote/UTHY.US.md) - [ZROZ.US](https://longbridge.com/en/quote/ZROZ.US.md) - [SCHQ.US](https://longbridge.com/en/quote/SCHQ.US.md) - [TLT.US](https://longbridge.com/en/quote/TLT.US.md) - [GOVI.US](https://longbridge.com/en/quote/GOVI.US.md) - [EDV.US](https://longbridge.com/en/quote/EDV.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [US Treasury yields rise, dollar stable amid Fed rate-hike bets](https://longbridge.com/en/news/290428058.md) - [JGB yields jump to track U.S. yields higher](https://longbridge.com/en/news/294305565.md) - [TREASURIES-Yields extend decline as traders reassess interest rate picture](https://longbridge.com/en/news/291810169.md) - [Euro zone yields steady at multi-week lows](https://longbridge.com/en/news/290660110.md) - [TREASURIES-US Treasury yields tick higher; inflation outlook helps cool hike bets](https://longbridge.com/en/news/293199261.md)