SPTL vs. EDV

Last updated Jun 4, 2026

SPTL (SPDR Portfolio Long Term Treasury ETF) and EDV (Vanguard Extended Duration Treasury ETF) are both Government Bonds funds - SPTL tracks the Bloomberg Long U.S. Treasury Index while EDV tracks the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index. Both are passively managed. Over the past 10 years, SPTL returned -1.12%/yr vs -3.32%/yr for EDV. Their correlation of 0.94 suggests significant overlap in exposure. SPTL charges 0.03%/yr vs 0.05%/yr for EDV.

Performance

SPTL vs. EDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Treasury ETF (SPTL) and Vanguard Extended Duration Treasury ETF (EDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPTL achieves a -0.38% return, which is significantly higher than EDV's -0.72% return. Over the past 10 years, SPTL has outperformed EDV with an annualized return of -1.12%, while EDV has yielded a comparatively lower -3.32% annualized return.

SPTL

• 1D: -0.38%
• 1M: 0.71%
• YTD: -0.38%
• 6M: -1.67%
• 1Y: 5.22%
• 3Y*: -0.70%
• 5Y*: -5.32%
• 10Y*: -1.12%

EDV

• 1D: -0.48%
• 1M: 1.42%
• YTD: -0.72%
• 6M: -3.69%
• 1Y: 4.85%
• 3Y*: -5.25%
• 5Y*: -10.02%
• 10Y*: -3.32%

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

SPTL vs. EDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPTL SPDR Portfolio Long Term Treasury ETF	-0.38%	5.28%	-6.23%	3.30%	-29.44%	-4.99%	18.07%	13.74%	-1.57%	9.01%
EDV Vanguard Extended Duration Treasury ETF	-0.72%	0.65%	-12.78%	1.65%	-39.15%	-6.19%	23.59%	18.67%	-3.40%	13.94%

Correlation

The correlation between SPTL and EDV 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 14, 2007	0.94

The correlation between SPTL and EDV has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.

Return for Risk

SPTL vs. EDV — Risk / Return Rank

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

SPTL

SPTL Risk / Return Rank: 17
SPTL Sharpe Ratio Rank: 18
SPTL Sortino Ratio Rank: 17
SPTL Omega Ratio Rank: 16
SPTL Calmar Ratio Rank: 18
SPTL Martin Ratio Rank: 18

EDV

EDV Risk / Return Rank: 13
EDV Sharpe Ratio Rank: 13
EDV Sortino Ratio Rank: 13
EDV Omega Ratio Rank: 12
EDV Calmar Ratio Rank: 13
EDV Martin Ratio Rank: 13

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.

SPTL vs. EDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) and Vanguard Extended Duration Treasury ETF (EDV). 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.

	SPTL	EDV	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.33	+0.25
Sortino ratio: Return per unit of downside risk	0.90	0.58	+0.32
Omega ratio: Gain probability vs. loss probability	1.10	1.06	+0.04
Calmar ratio: Return relative to maximum drawdown	0.74	0.39	+0.36
Martin ratio: Return relative to average drawdown	1.94	0.90	+1.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPTL vs. EDV - Sharpe Ratio Comparison

The current SPTL Sharpe Ratio is 0.59, which is higher than the EDV Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of SPTL and EDV, 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

	SPTL	EDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.33	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.37	-0.47	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	-0.17	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.12	+0.12

Drawdowns

SPTL vs. EDV - Drawdown Comparison

The maximum SPTL drawdown since its inception was -46.20%, smaller than the maximum EDV drawdown of -59.96%. Use the drawdown chart below to compare losses from any high point for SPTL and EDV.

Drawdown Indicators

	SPTL	EDV	Difference
Max Drawdown Largest peak-to-trough decline	-46.20%	-59.96%	+13.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-12.54%	+5.50%
Max Drawdown (3Y) Largest decline over 3 years	-17.55%	-26.99%	+9.44%
Max Drawdown (5Y) Largest decline over 5 years	-41.02%	-55.03%	+14.01%
Max Drawdown (10Y) Largest decline over 10 years	-46.20%	-59.96%	+13.76%
Current Drawdown Current decline from peak	-36.87%	-54.45%	+17.58%
Average Drawdown Average peak-to-trough decline	-14.24%	-23.43%	+9.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	5.38%	-2.69%

Volatility

SPTL vs. EDV - Volatility Comparison

The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.63%, while Vanguard Extended Duration Treasury ETF (EDV) has a volatility of 4.06%. This indicates that SPTL experiences smaller price fluctuations and is considered to be less risky than EDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPTL	EDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	4.06%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	9.65%	-3.68%
Volatility (1Y) Calculated over the trailing 1-year period	8.92%	14.64%	-5.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.63%	21.63%	-7.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.95%	19.81%	-5.86%

SPTL vs. EDV - Expense Ratio Comparison

SPTL has a 0.03% expense ratio, which is lower than EDV's 0.05% 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

SPTL vs. EDV - Dividend Comparison

SPTL's dividend yield for the trailing twelve months is around 4.21%, less than EDV's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDV Vanguard Extended Duration Treasury ETF	4.99%	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	4.21%	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

Can I hold both SPTL and EDV in my portfolio?

With a correlation of 0.98, SPTL and EDV 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.

Which is riskier, SPTL or EDV?

EDV has higher volatility (4.06%) compared to SPTL (2.63%). In terms of maximum drawdown, SPTL dropped -46.20% vs EDV's -59.96%.

Which ETF is better, SPTL or EDV?

On 10-year performance, SPTL leads with -1.12% vs -3.32% for EDV. On fees, SPTL is cheaper at 0.03% per year. On volatility, SPTL has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTL or EDV?

Over the 10-year period, SPTL has performed better with a -1.12% return vs -3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTL or EDV?

SPTL is cheaper with a 0.03% expense ratio, compared with 0.05% for EDV.

Which ETF pays a higher dividend yield, SPTL or EDV?

EDV has the higher dividend yield at 4.99%, compared with 4.21% for SPTL.

What is the main difference between SPTL and EDV?

SPTL tracks Bloomberg Long U.S. Treasury Index, while EDV tracks Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.03% for SPTL and 0.05% for EDV.

Which has better risk-adjusted returns?

SPTL currently has the higher Sharpe Ratio (0.59 vs 0.33), 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.