EDV vs. IEP

Last updated Jun 9, 2026

EDV (Vanguard Extended Duration Treasury ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while IEP (Icahn Enterprises L.P.) is a stock. Over the past 10 years, EDV returned -3.62%/yr vs -4.22%/yr for IEP. At a correlation of -0.13, they often move in opposite directions.

Performance

EDV vs. IEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Duration Treasury ETF (EDV) and Icahn Enterprises L.P. (IEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDV achieves a -1.88% return, which is significantly lower than IEP's 11.85% return. Over the past 10 years, EDV has outperformed IEP with an annualized return of -3.62%, while IEP has yielded a comparatively lower -4.22% annualized return.

EDV

• 1D: -0.93%
• 1M: -1.55%
• YTD: -1.88%
• 6M: -3.05%
• 1Y: 2.73%
• 3Y*: -5.65%
• 5Y*: -10.54%
• 10Y*: -3.62%

IEP

• 1D: 0.40%
• 1M: -1.20%
• YTD: 11.85%
• 6M: 9.31%
• 1Y: 12.08%
• 3Y*: -20.14%
• 5Y*: -19.04%
• 10Y*: -4.22%

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

EDV vs. IEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDV Vanguard Extended Duration Treasury ETF	-1.88%	0.65%	-12.78%	1.65%	-39.15%	-6.19%	23.59%	18.67%	-3.40%	13.94%
IEP Icahn Enterprises L.P.	11.85%	8.23%	-37.79%	-58.78%	18.76%	12.87%	-3.55%	20.44%	18.98%	-1.17%

Correlation

The correlation between EDV and IEP is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (10Y) Calculated over the trailing 10-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Dec 13, 2007	-0.13

The correlation between EDV and IEP shifts across timeframes, from -0.13 (all time) to 0.06 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EDV vs. IEP — Risk / Return Rank

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

EDV

EDV Risk / Return Rank: 12
EDV Sharpe Ratio Rank: 12
EDV Sortino Ratio Rank: 12
EDV Omega Ratio Rank: 11
EDV Calmar Ratio Rank: 12
EDV Martin Ratio Rank: 12

IEP

IEP Risk / Return Rank: 56
IEP Sharpe Ratio Rank: 59
IEP Sortino Ratio Rank: 53
IEP Omega Ratio Rank: 51
IEP Calmar Ratio Rank: 59
IEP Martin Ratio Rank: 59

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. IEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) and Icahn Enterprises L.P. (IEP). 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	IEP	Difference
Sharpe ratio: Return per unit of total volatility	0.19	0.47	-0.28
Sortino ratio: Return per unit of downside risk	0.38	0.90	-0.53
Omega ratio: Gain probability vs. loss probability	1.04	1.11	-0.07
Calmar ratio: Return relative to maximum drawdown	0.22	0.76	-0.54
Martin ratio: Return relative to average drawdown	0.50	1.61	-1.11
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. IEP - Sharpe Ratio Comparison

The current EDV Sharpe Ratio is 0.19, which is lower than the IEP Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of EDV and IEP, 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	IEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	0.47	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.49	-0.47	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.18	-0.12	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.15	-0.03

Drawdowns

EDV vs. IEP - Drawdown Comparison

The maximum EDV drawdown since its inception was -59.96%, smaller than the maximum IEP drawdown of -84.21%. Use the drawdown chart below to compare losses from any high point for EDV and IEP.

Drawdown Indicators

	EDV	IEP	Difference
Max Drawdown Largest peak-to-trough decline	-59.96%	-84.21%	+24.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.54%	-16.06%	+3.52%
Max Drawdown (3Y) Largest decline over 3 years	-26.99%	-67.83%	+40.84%
Max Drawdown (5Y) Largest decline over 5 years	-55.03%	-77.56%	+22.53%
Max Drawdown (10Y) Largest decline over 10 years	-59.96%	-77.56%	+17.60%
Current Drawdown Current decline from peak	-54.98%	-71.33%	+16.35%
Average Drawdown Average peak-to-trough decline	-23.45%	-30.58%	+7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	7.53%	-2.07%

Volatility

EDV vs. IEP - Volatility Comparison

The current volatility for Vanguard Extended Duration Treasury ETF (EDV) is 3.90%, while Icahn Enterprises L.P. (IEP) has a volatility of 4.19%. This indicates that EDV experiences smaller price fluctuations and is considered to be less risky than IEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDV	IEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	4.19%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	15.99%	-6.31%
Volatility (1Y) Calculated over the trailing 1-year period	14.42%	25.74%	-11.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	40.98%	-19.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.82%	36.37%	-16.55%

Dividends

EDV vs. IEP - Dividend Comparison

EDV's dividend yield for the trailing twelve months is around 5.04%, less than IEP's 26.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDV Vanguard Extended Duration Treasury ETF	5.04%	4.94%	4.65%	3.81%	3.28%	1.95%	5.54%	3.51%	2.90%	2.92%	5.32%	4.24%
IEP Icahn Enterprises L.P.	26.88%	26.49%	40.37%	34.90%	15.79%	16.13%	15.79%	13.01%	12.26%	11.32%	10.01%	9.79%

Frequently Asked Questions

Can I hold both EDV and IEP in my portfolio?

EDV and IEP have a correlation of 0.06, 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 IEP?

IEP has higher volatility (4.19%) compared to EDV (3.90%). In terms of maximum drawdown, EDV dropped -59.96% vs IEP's -84.21%.

Which has better risk-adjusted returns?

IEP currently has the higher Sharpe Ratio (0.47 vs 0.19), 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.