EDV vs. IEI
EDV (Vanguard Extended Duration Treasury ETF) and IEI (iShares 3-7 Year Treasury Bond ETF) are both Government Bonds funds - EDV tracks the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index while IEI tracks the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, EDV returned -3.49%/yr vs 1.24%/yr for IEI. A 0.76 correlation means they provide meaningful diversification when combined. EDV charges 0.05%/yr vs 0.15%/yr for IEI.
Performance
EDV vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, EDV achieves a 0.01% return, which is significantly higher than IEI's -0.30% return. Over the past 10 years, EDV has underperformed IEI with an annualized return of -3.49%, while IEI has yielded a comparatively higher 1.24% annualized return.
EDV
- 1D
- -0.39%
- 1M
- 2.28%
- YTD
- 0.01%
- 6M
- 0.03%
- 1Y
- 3.37%
- 3Y*
- -4.76%
- 5Y*
- -10.27%
- 10Y*
- -3.49%
IEI
- 1D
- -0.12%
- 1M
- 0.10%
- YTD
- -0.30%
- 6M
- -0.00%
- 1Y
- 3.16%
- 3Y*
- 3.77%
- 5Y*
- 0.21%
- 10Y*
- 1.24%
EDV vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 0.01% | 0.65% | -12.78% | 1.65% | -39.15% | -6.19% | 23.59% | 18.67% | -3.40% | 13.94% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.30% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Correlation
The correlation between EDV and IEI is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2007 | 0.76 |
The correlation between EDV and IEI has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.
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Return for Risk
EDV vs. IEI — Risk / Return Rank
EDV
IEI
EDV vs. IEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) and iShares 3-7 Year Treasury Bond ETF (IEI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EDV | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.17 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 1.19 | -1.06 |
| Martin ratioReturn relative to average drawdown | 0.31 | 3.35 | -3.04 |
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Drawdowns
EDV vs. IEI - Drawdown Comparison
The maximum EDV drawdown since its inception was -59.96%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for EDV and IEI.
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Drawdown Indicators
| EDV | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -14.60% | -45.36% |
Max Drawdown (1Y)Largest decline over 1 year | -12.54% | -2.50% | -10.04% |
Max Drawdown (3Y)Largest decline over 3 years | -26.99% | -3.66% | -23.33% |
Max Drawdown (5Y)Largest decline over 5 years | -55.03% | -13.88% | -41.15% |
Max Drawdown (10Y)Largest decline over 10 years | -59.96% | -14.60% | -45.36% |
Current DrawdownCurrent decline from peak | -54.12% | -1.74% | -52.38% |
Average DrawdownAverage peak-to-trough decline | -23.48% | -2.67% | -20.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.55% | 0.89% | +4.66% |
Volatility
EDV vs. IEI - Volatility Comparison
Vanguard Extended Duration Treasury ETF (EDV) has a higher volatility of 4.21% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.98%. This indicates that EDV's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDV | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 0.98% | +3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.89% | 2.18% | +7.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.54% | 3.00% | +11.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.62% | 4.78% | +16.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.82% | 3.93% | +15.89% |
EDV vs. IEI - Expense Ratio Comparison
EDV has a 0.05% expense ratio, which is lower than IEI's 0.15% 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. IEI - Dividend Comparison
EDV's dividend yield for the trailing twelve months is around 4.95%, more than IEI's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 4.95% | 4.94% | 4.65% | 3.81% | 3.28% | 1.95% | 5.54% | 3.51% | 2.90% | 2.92% | 5.32% | 4.24% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
EDV and IEI have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDV has higher volatility (4.21%) compared to IEI (0.98%). In terms of maximum drawdown, EDV dropped -59.96% vs IEI's -14.60%.
On 10-year performance, IEI leads with 1.24% vs -3.49% for EDV. On fees, EDV is cheaper at 0.05% per year. On volatility, IEI has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IEI has performed better with a 1.24% return vs -3.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDV is cheaper with a 0.05% expense ratio, compared with 0.15% for IEI.
EDV has the higher dividend yield at 4.95%, compared with 3.64% for IEI.
EDV tracks Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for EDV and 0.15% for IEI.
IEI currently has the higher Sharpe Ratio (1.00 vs 0.12), 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.
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