EDV vs. SPTL
EDV (Vanguard Extended Duration Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - EDV tracks the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 10 years, EDV returned -3.45%/yr vs -1.24%/yr for SPTL. Their correlation of 0.94 suggests significant overlap in exposure. EDV charges 0.05%/yr vs 0.03%/yr for SPTL.
Performance
EDV vs. SPTL - Performance Comparison
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Returns By Period
In the year-to-date period, EDV achieves a 0.88% return, which is significantly higher than SPTL's 0.39% return. Over the past 10 years, EDV has underperformed SPTL with an annualized return of -3.45%, while SPTL has yielded a comparatively higher -1.24% annualized return.
EDV
- 1D
- -1.20%
- 1M
- 3.55%
- YTD
- 0.88%
- 6M
- 0.43%
- 1Y
- 4.03%
- 3Y*
- -5.37%
- 5Y*
- -10.33%
- 10Y*
- -3.45%
SPTL
- 1D
- -0.68%
- 1M
- 1.96%
- YTD
- 0.39%
- 6M
- 0.39%
- 1Y
- 4.40%
- 3Y*
- -0.77%
- 5Y*
- -5.60%
- 10Y*
- -1.24%
EDV vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 0.88% | 0.65% | -12.78% | 1.65% | -39.15% | -6.19% | 23.59% | 18.67% | -3.40% | 13.94% |
SPTL SPDR Portfolio Long Term Treasury ETF | 0.39% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
Correlation
The correlation between EDV and SPTL is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2007 | 0.94 |
The correlation between EDV and SPTL has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.
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Return for Risk
EDV vs. SPTL — Risk / Return Rank
EDV
SPTL
EDV vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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 | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.09 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 0.63 | -0.30 |
| Martin ratioReturn relative to average drawdown | 0.72 | 1.56 | -0.84 |
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Drawdowns
EDV vs. SPTL - Drawdown Comparison
The maximum EDV drawdown since its inception was -59.96%, which is greater than SPTL's maximum drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for EDV and SPTL.
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Drawdown Indicators
| EDV | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -46.20% | -13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -12.54% | -7.04% | -5.50% |
Max Drawdown (3Y)Largest decline over 3 years | -26.90% | -17.55% | -9.35% |
Max Drawdown (5Y)Largest decline over 5 years | -55.03% | -41.02% | -14.01% |
Max Drawdown (10Y)Largest decline over 10 years | -59.96% | -46.20% | -13.76% |
Current DrawdownCurrent decline from peak | -53.72% | -36.38% | -17.34% |
Average DrawdownAverage peak-to-trough decline | -23.51% | -14.29% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.62% | 2.83% | +2.79% |
Volatility
EDV vs. SPTL - Volatility Comparison
Vanguard Extended Duration Treasury ETF (EDV) has a higher volatility of 3.44% compared to SPDR Portfolio Long Term Treasury ETF (SPTL) at 2.10%. This indicates that EDV's price experiences larger fluctuations and is considered to be riskier than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDV | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 2.10% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 6.13% | +3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.29% | 8.68% | +5.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 14.58% | +7.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.82% | 13.95% | +5.87% |
EDV vs. SPTL - Expense Ratio Comparison
EDV has a 0.05% expense ratio, which is higher than SPTL's 0.03% expense ratio. However, 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. SPTL - Dividend Comparison
EDV's dividend yield for the trailing twelve months is around 4.91%, more than SPTL's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 4.91% | 4.94% | 4.65% | 3.81% | 3.28% | 1.95% | 5.54% | 3.51% | 2.90% | 2.92% | 5.32% | 4.24% |
SPTL SPDR Portfolio Long Term Treasury ETF | 4.18% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
With a correlation of 0.98, EDV and SPTL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
EDV has higher volatility (3.44%) compared to SPTL (2.10%). In terms of maximum drawdown, EDV dropped -59.96% vs SPTL's -46.20%.
On 10-year performance, SPTL leads with -1.24% vs -3.45% for EDV. On fees, SPTL is cheaper at 0.03% per year. On volatility, SPTL has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPTL has performed better with a -1.24% return vs -3.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.05% for EDV.
EDV has the higher dividend yield at 4.91%, compared with 4.18% for SPTL.
EDV tracks Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.05% for EDV and 0.03% for SPTL.
SPTL currently has the higher Sharpe Ratio (0.51 vs 0.28), 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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