SPTL vs. EDV
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 -1.81%/yr vs -4.47%/yr for EDV. Their correlation of 0.94 means they have usually moved in the same direction. SPTL charges 0.03%/yr vs 0.05%/yr for EDV.
Performance
SPTL vs. EDV - Performance Comparison
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Returns By Period
In the year-to-date period, SPTL achieves a -3.28% return, which is significantly higher than EDV's -6.20% return. Over the past 10 years, SPTL has outperformed EDV with an annualized return of -1.81%, while EDV has yielded a comparatively lower -4.47% annualized return.
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
EDV
- 1D
- -1.06%
- 1M
- -6.35%
- 6M
- -5.97%
- YTD
- -6.20%
- 1Y
- -6.00%
- 3Y*
- -5.53%
- 5Y*
- -12.61%
- 10Y*
- -4.47%
- ALL TIME*
- 2.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $89.59M | $71.96M | $67.10M | |
| $141.08M | $126.11M | $146.73M |
SPTL vs. EDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
EDV Vanguard Extended Duration Treasury ETF | -6.20% | 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 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 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.
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Return for Risk
SPTL vs. EDV — Risk / Return Rank
SPTL
EDV
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.
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.
| SPTL | EDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.96 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | -0.33 | +0.27 |
| Martin ratioReturn relative to average drawdown | -0.14 | -0.70 | +0.56 |
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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.
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Drawdown Indicators
| SPTL | EDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -59.96% | +13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -13.24% | +6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -22.74% | +9.35% |
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 DrawdownCurrent decline from peak | -38.71% | -56.96% | +18.25% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -23.70% | +9.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 6.34% | -3.13% |
Volatility
SPTL vs. EDV - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.26%, while Vanguard Extended Duration Treasury ETF (EDV) has a volatility of 3.85%. 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.
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Volatility by Period
| SPTL | EDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 3.85% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 6.39% | 10.24% | -3.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 14.08% | -5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 21.52% | -7.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.88% | 19.74% | -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 4.35%, less than EDV's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | 5.45% | 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 | 3.99% | 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, 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.
EDV has higher volatility (3.85%) compared to SPTL (2.26%). In terms of maximum drawdown, SPTL dropped -46.20% vs EDV's -59.96%.
On 10-year performance, SPTL leads with -1.81% vs -4.47% for EDV. On fees, SPTL is cheaper at 0.03% per year. On volatility, SPTL has been the lower-risk option at 2.26%. 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 -1.81% return vs -4.47%. 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 5.45%, compared with 3.99% for SPTL.
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.
SPTL currently has the higher Sharpe Ratio (-0.05 vs -0.31), 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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