EDV vs. TBF
Compare and contrast key facts about Vanguard Extended Duration Treasury ETF (EDV) and ProShares Short 20+ Year Treasury (TBF).
EDV and TBF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EDV is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index. It was launched on Dec 6, 2007. TBF is a passively managed fund by ProShares that tracks the performance of the U.S. Treasury 20+ Year Index (-100%). It was launched on Aug 20, 2009. Both EDV and TBF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EDV vs. TBF - Performance Comparison
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EDV vs. TBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | -0.21% | 0.65% | -12.78% | 1.65% | -39.15% | -6.19% | 23.59% | 18.67% | -3.40% | 13.94% |
TBF ProShares Short 20+ Year Treasury | 1.01% | 1.27% | 16.33% | 2.43% | 42.37% | 1.33% | -19.35% | -10.96% | 3.26% | -8.46% |
Returns By Period
In the year-to-date period, EDV achieves a -0.21% return, which is significantly lower than TBF's 1.01% return. Over the past 10 years, EDV has underperformed TBF with an annualized return of -2.99%, while TBF has yielded a comparatively higher 2.36% annualized return.
EDV
- 1D
- -0.12%
- 1M
- -4.91%
- YTD
- -0.21%
- 6M
- -3.16%
- 1Y
- -5.58%
- 3Y*
- -6.60%
- 5Y*
- -9.54%
- 10Y*
- -2.99%
TBF
- 1D
- 0.17%
- 1M
- 3.85%
- YTD
- 1.01%
- 6M
- 3.77%
- 1Y
- 6.81%
- 3Y*
- 9.02%
- 5Y*
- 9.20%
- 10Y*
- 2.36%
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EDV vs. TBF - Expense Ratio Comparison
EDV has a 0.06% expense ratio, which is lower than TBF's 0.94% expense ratio.
Return for Risk
EDV vs. TBF — Risk / Return Rank
EDV
TBF
EDV vs. TBF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) and ProShares Short 20+ Year Treasury (TBF). 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 | TBF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.33 | 0.62 | -0.95 |
Sortino ratioReturn per unit of downside risk | -0.33 | 1.00 | -1.33 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.11 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.31 | 0.72 | -1.04 |
Martin ratioReturn relative to average drawdown | -0.60 | 1.45 | -2.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EDV | TBF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.33 | 0.62 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.59 | -1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.15 | 0.16 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | -0.22 | +0.34 |
Correlation
The correlation between EDV and TBF is -0.98. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
EDV vs. TBF - Dividend Comparison
EDV's dividend yield for the trailing twelve months is around 4.96%, more than TBF's 2.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 4.96% | 4.94% | 4.65% | 3.81% | 3.28% | 1.95% | 5.54% | 3.51% | 2.90% | 2.92% | 5.32% | 4.24% |
TBF ProShares Short 20+ Year Treasury | 2.88% | 3.39% | 4.06% | 4.99% | 0.36% | 0.00% | 0.22% | 1.68% | 0.88% | 0.00% | 0.00% | 0.00% |
Drawdowns
EDV vs. TBF - Drawdown Comparison
The maximum EDV drawdown since its inception was -59.96%, smaller than the maximum TBF drawdown of -70.40%. Use the drawdown chart below to compare losses from any high point for EDV and TBF.
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Drawdown Indicators
| EDV | TBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -70.40% | +10.44% |
Max Drawdown (1Y)Largest decline over 1 year | -13.84% | -8.11% | -5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -55.03% | -17.79% | -37.24% |
Max Drawdown (10Y)Largest decline over 10 years | -59.96% | -38.39% | -21.57% |
Current DrawdownCurrent decline from peak | -54.22% | -44.16% | -10.06% |
Average DrawdownAverage peak-to-trough decline | -23.14% | -47.47% | +24.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 4.04% | +3.22% |
Volatility
EDV vs. TBF - Volatility Comparison
Vanguard Extended Duration Treasury ETF (EDV) has a higher volatility of 5.45% compared to ProShares Short 20+ Year Treasury (TBF) at 3.61%. This indicates that EDV's price experiences larger fluctuations and is considered to be riskier than TBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDV | TBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 3.61% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 9.91% | 6.47% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.22% | 11.04% | +6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.62% | 15.74% | +5.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.84% | 14.54% | +5.30% |