EDV vs. BIL

Last updated Jun 4, 2026

EDV (Vanguard Extended Duration Treasury ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both Government Bonds funds - EDV tracks the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index while BIL tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, EDV returned -3.32%/yr vs 2.18%/yr for BIL. At a 0.01 correlation, their price movements are largely independent. EDV charges 0.05%/yr vs 0.14%/yr for BIL.

Performance

EDV vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Duration Treasury ETF (EDV) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDV achieves a -0.72% return, which is significantly lower than BIL's 1.49% return. Over the past 10 years, EDV has underperformed BIL with an annualized return of -3.32%, while BIL has yielded a comparatively higher 2.18% annualized return.

EDV

• 1D: -0.48%
• 1M: 1.42%
• YTD: -0.72%
• 6M: -3.69%
• 1Y: 4.85%
• 3Y*: -5.25%
• 5Y*: -10.02%
• 10Y*: -3.32%

BIL

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.49%
• 6M: 1.77%
• 1Y: 3.87%
• 3Y*: 4.64%
• 5Y*: 3.41%
• 10Y*: 2.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EDV vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDV Vanguard Extended Duration Treasury ETF	-0.72%	0.65%	-12.78%	1.65%	-39.15%	-6.19%	23.59%	18.67%	-3.40%	13.94%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.49%	4.15%	5.19%	4.94%	1.40%	-0.10%	0.40%	2.03%	1.74%	0.69%

Correlation

The correlation between EDV and BIL is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Dec 14, 2007	0.01

The correlation between EDV and BIL shifts across timeframes, from -0.22 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EDV vs. BIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EDV

EDV Risk / Return Rank: 13
EDV Sharpe Ratio Rank: 13
EDV Sortino Ratio Rank: 13
EDV Omega Ratio Rank: 12
EDV Calmar Ratio Rank: 13
EDV Martin Ratio Rank: 13

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EDV vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EDV	BIL	Difference
Sharpe ratio: Return per unit of total volatility	0.33	19.71	-19.38
Sortino ratio: Return per unit of downside risk	0.58	174.16	-173.58
Omega ratio: Gain probability vs. loss probability	1.06	87.91	-86.84
Calmar ratio: Return relative to maximum drawdown	0.39	355.35	-354.97
Martin ratio: Return relative to average drawdown	0.90	2,817.77	-2,816.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDV vs. BIL - Sharpe Ratio Comparison

The current EDV Sharpe Ratio is 0.33, which is lower than the BIL Sharpe Ratio of 19.71. The chart below compares the historical Sharpe Ratios of EDV and BIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EDV	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	19.71	-19.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	13.16	-13.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.17	8.52	-8.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	2.78	-2.65

Drawdowns

EDV vs. BIL - Drawdown Comparison

The maximum EDV drawdown since its inception was -59.96%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for EDV and BIL.

Drawdown Indicators

	EDV	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-59.96%	-0.78%	-59.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.54%	-0.01%	-12.53%
Max Drawdown (3Y) Largest decline over 3 years	-26.99%	-0.01%	-26.98%
Max Drawdown (5Y) Largest decline over 5 years	-55.03%	-0.10%	-54.93%
Max Drawdown (10Y) Largest decline over 10 years	-59.96%	-0.21%	-59.75%
Current Drawdown Current decline from peak	-54.45%	0.00%	-54.45%
Average Drawdown Average peak-to-trough decline	-23.43%	-0.26%	-23.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.38%	0.00%	+5.38%

Volatility

EDV vs. BIL - Volatility Comparison

Vanguard Extended Duration Treasury ETF (EDV) has a higher volatility of 4.06% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that EDV's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDV	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	0.05%	+4.01%
Volatility (6M) Calculated over the trailing 6-month period	9.65%	0.13%	+9.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	0.20%	+14.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.63%	0.26%	+21.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.81%	0.26%	+19.55%

EDV vs. BIL - Expense Ratio Comparison

EDV has a 0.05% expense ratio, which is lower than BIL's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EDV vs. BIL - Dividend Comparison

EDV's dividend yield for the trailing twelve months is around 4.99%, more than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%
EDV Vanguard Extended Duration Treasury ETF	4.99%	4.94%	4.65%	3.81%	3.28%	1.95%	5.54%	3.51%	2.90%	2.92%	5.32%	4.24%

Frequently Asked Questions

Can I hold both EDV and BIL in my portfolio?

EDV and BIL have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDV or BIL?

EDV has higher volatility (4.06%) compared to BIL (0.05%). In terms of maximum drawdown, EDV dropped -59.96% vs BIL's -0.78%.

Which ETF is better, EDV or BIL?

On 10-year performance, BIL leads with 2.18% vs -3.32% for EDV. On fees, EDV is cheaper at 0.05% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDV or BIL?

Over the 10-year period, BIL has performed better with a 2.18% return vs -3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDV or BIL?

EDV is cheaper with a 0.05% expense ratio, compared with 0.14% for BIL.

Which ETF pays a higher dividend yield, EDV or BIL?

EDV has the higher dividend yield at 4.99%, compared with 3.86% for BIL.

What is the main difference between EDV and BIL?

EDV tracks Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.05% for EDV and 0.14% for BIL.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.71 vs 0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.