IEF vs. PSP
IEF (iShares 7-10 Year Treasury Bond ETF) and PSP (Invesco Global Listed Private Equity ETF) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index. Both are passively managed. Over the past 10 years, IEF returned 0.60%/yr vs 7.95%/yr for PSP. At a correlation of -0.21, they often move in opposite directions. IEF charges 0.15%/yr vs 1.44%/yr for PSP.
Performance
IEF vs. PSP - Performance Comparison
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Returns By Period
In the year-to-date period, IEF achieves a -0.30% return, which is significantly higher than PSP's -12.54% return. Over the past 10 years, IEF has underperformed PSP with an annualized return of 0.60%, while PSP has yielded a comparatively higher 7.95% annualized return.
IEF
- 1D
- 0.69%
- 1M
- 0.36%
- YTD
- -0.30%
- 6M
- -0.28%
- 1Y
- 4.02%
- 3Y*
- 2.67%
- 5Y*
- -1.21%
- 10Y*
- 0.60%
PSP
- 1D
- 1.16%
- 1M
- -4.02%
- YTD
- -12.54%
- 6M
- -12.47%
- 1Y
- -8.70%
- 3Y*
- 9.46%
- 5Y*
- -0.03%
- 10Y*
- 7.95%
IEF vs. PSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.30% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
PSP Invesco Global Listed Private Equity ETF | -12.54% | 6.49% | 17.42% | 37.72% | -37.37% | 27.30% | 12.47% | 35.73% | -15.12% | 24.13% |
Correlation
The correlation between IEF and PSP is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2006 | -0.21 |
The correlation between IEF and PSP shifts across timeframes, from -0.21 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEF vs. PSP — Risk / Return Rank
IEF
PSP
IEF vs. PSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and Invesco Global Listed Private Equity ETF (PSP). 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.
| IEF | PSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.94 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.39 | +1.38 |
| Martin ratioReturn relative to average drawdown | 2.80 | -0.87 | +3.67 |
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Drawdowns
IEF vs. PSP - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum PSP drawdown of -85.40%. Use the drawdown chart below to compare losses from any high point for IEF and PSP.
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Drawdown Indicators
| IEF | PSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -85.40% | +61.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -22.37% | +18.30% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -22.94% | +15.20% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -47.16% | +25.76% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -47.16% | +23.23% |
Current DrawdownCurrent decline from peak | -11.02% | -16.81% | +5.79% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -30.67% | +25.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 10.03% | -8.59% |
Volatility
IEF vs. PSP - Volatility Comparison
The current volatility for iShares 7-10 Year Treasury Bond ETF (IEF) is 1.61%, while Invesco Global Listed Private Equity ETF (PSP) has a volatility of 7.36%. This indicates that IEF experiences smaller price fluctuations and is considered to be less risky than PSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | PSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 7.36% | -5.75% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 16.50% | -13.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 20.25% | -15.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 23.85% | -16.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 22.47% | -15.84% |
IEF vs. PSP - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is lower than PSP's 1.44% expense ratio.
Dividends
IEF vs. PSP - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.89%, less than PSP's 6.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
PSP Invesco Global Listed Private Equity ETF | 6.61% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
Frequently Asked Questions
IEF and PSP have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSP has higher volatility (7.36%) compared to IEF (1.61%). In terms of maximum drawdown, IEF dropped -23.93% vs PSP's -85.40%.
On 10-year performance, PSP leads with 7.95% vs 0.60% for IEF. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSP has performed better with a 7.95% return vs 0.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEF is cheaper with a 0.15% expense ratio, compared with 1.44% for PSP.
PSP has the higher dividend yield at 6.61%, compared with 3.89% for IEF.
IEF is categorized as Government Bonds, while PSP is Global Equities. IEF tracks ICE U.S. Treasury 7-10 Year Bond Index, while PSP tracks Red Rocks Global Listed Private Equity Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IEF and 1.44% for PSP.
IEF currently has the higher Sharpe Ratio (0.86 vs -0.43), 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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