ETF Evaluator:
LifeX 2035 Income Bucket ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Target Maturity Over the Last Year
| 6.0% | iShares iBonds 2030 Term Hi Yld & IncETF (IBHJ) |
| 5.6% | Invesco BulletShares 2030 HY Corp Bd ETF (BSJU) |
| 5.4% | iShares iBonds 2029 Term HY & Inc ETF (IBHI) |
| 5.3% | iShares iBonds 2028 Term HY & Inc ETF (IBHH) |
| 5.2% | Invesco BulletShares 2028 HY Corp Bd ETF (BSJS) |
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Risk
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ETF Details
LifeX 2035 Income Bucket ETF Overview
LifeX 2035 Income Bucket ETF (LDDR) is an actively managed Taxable Bond Target Maturity exchange-traded fund (ETF). STONE RIDGE launched the ETF in 2025.
The investment seeks to provide fixed monthly distributions, consisting of income and principal, through 2035.
The fund is an exchange-traded fund (“ETF”) that pursues its investment objective by investing in debt securities issued by the U.S. Treasury (which the manager refers to as “U.S. government bonds”) as well as money market funds that invest exclusively in U.S. government bonds or repurchase agreements collateralized by such securities.
About LifeX 2035 Income Bucket ETF (LDDR)
There are 5 members of the management team with an average tenure of 1.31 years: Ross Stevens (2025), Nate Conrad (2025), Allen Steere (2026), Li Song (2025) and Yan Zhao (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
LifeX 2035 Income Bucket ETF has 47 securities in its portfolio. The top 10 holdings constitute 87.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
LifeX 2035 Income Bucket ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. LifeX 2035 Income Bucket ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.0% (97.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). LifeX 2035 Income Bucket ETF has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $40 million in total assets, which is below the $585 million average for the Target Maturity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
LDDR Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The LifeX 2035 Income Bucket ETF expense ratio is below average compared to funds in the Target Maturity category. LifeX 2035 Income Bucket ETF has an expense ratio of 0.25%, which is 56% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. LifeX 2035 Income Bucket ETF has a portfolio turnover rate of 112%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Target Maturity category.
Recently, in the month of July 2026, LifeX 2035 Income Bucket ETF returned -0.6%, which earned it a grade of C, as the Target Maturity category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
LifeX 2035 Income Bucket ETF has a trailing yield of 12.84%, which is above the 5.56% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
LifeX 2035 Income Bucket ETF Grades
Year to date, the ETF has returned -0.5%, 0.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.2% over the past year (grade of D).
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LDDR Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LDDR Return (NAV) | -0.6% | -0.5% | 2.2% | na | na | na |
| LDDR Return (Price) | -0.6% | -0.2% | 2.4% | na | na | na |
| NAV +/- Price Return | 0.004% | -0.333% | -0.222% | na | na | na |
| Target Maturity Avg | -0.8% | -0.4% | 3.1% | 5.7% | 1.2% | na |
| LDDR Grade (NAV) | C | C | D | na | na | na |
| +/- Category (NAV) | 0.2% | -0.1% | -0.8% | na | na | na |
| LDDR Tax-Cost Ratio | na | na | 4.8% | na | na | na |
LDDR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LDDR Return (NAV) | -0.5% | na | na | na | na | na | na | na | na | na | na |
| LDDR Return (Price) | -0.2% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.590% | na | na | na | na | na | na | na | na | na | na |
| Target Maturity Avg | 0.2% | 7.4% | 4.1% | 8.3% | -11.8% | -1.1% | 8.8% | 15.4% | -2.6% | 5.7% | na |
| LDDR Grade (NAV) | D | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.7% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 12.8% |
| Total Assets: | $ 41 Mil |
| Share Class Assets: | $ 41 Mil |
| Turnover: | 112.0% |
| Expense Ratio: | 0.25% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Stevens Ross (2025), Conrad Nate (2025), Song Li (2025), Zhao Yan (2025), Steere Allen (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 47 |
| % in Top 10 Holdings: | 87.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 97.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.9% |
| Cash: | 2.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | STONE RIDGE |
| Phone Number: | 855-609-3680 |
| Website: | |
| Inception Date: | January 3, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.16% |
