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Relative Intelligence · Treasury Bonds

How iShares 7-10 Year Treasury Bond ETF (IEF) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IEF alone. It places IEF (iShares 7-10 Year Treasury Bond ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where IEF stands in the market, and of the alternatives worth a closer look.

Period covered: IEF's full trading record, from July 2002 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against IEF →Chart IEF vs. 22 alternatives →
On this page12 sections

Key findings

How much would $10,000 in IEF have grown?

This chart tracks a hypothetical $10,000 investment in IEF over the past 19 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IEF over the same span and IEF's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: The chart covers the past 19 years rather than IEF's full 24 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 2007 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 1,443 of the 1,798 stocks and funds worth at least $500 million that traded the whole period ended ahead of IEF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M2007201020132016201920222025$10,000$100,000$1M2007201220172022
  • NVDA$3M+27,574% total · +34.4% a year
  • AAPL$725,525+7,155% total · +25.3% a year
  • GOOG$243,382+2,334% total · +18.3% a year
  • SPY (S&P 500)$70,725+607% total · +10.8% a year
  • EP-PC$23,554+136% total · +4.6% a year
  • TIP$17,851+78.5% total · +3.1% a year
  • IEF$17,034+70.3% total · +2.8% a year
  • AGG$16,715+67.2% total · +2.7% a year
  • SPTI$15,073+50.7% total · +2.2% a year
  • SHV$13,240+32.4% total · +1.5% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,766 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of IEF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$8,000$10,000$12,000$14,000$16,000$18,000$20,000202120222023202420252026$5,000$10,000$15,000$20,000202120222023202420252026
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • NEAR$12,027+20.3% total · +3.8% a year
  • SHV$11,908+19.1% total · +3.6% a year
  • SPSB$11,418+14.2% total · +2.7% a year
  • SPTS$10,954+9.5% total · +1.8% a year
  • VGSH$10,923+9.2% total · +1.8% a year
  • TIP$9,908−0.9% total · −0.2% a year
  • SPTI$9,784−2.2% total · −0.4% a year
  • BND$9,657−3.4% total · −0.7% a year
  • IEF$8,983−10.2% total · −2.1% a year
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IEF at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The fund

Issuer
IShares
Began trading
July 2002
Expense ratio
0.15%per year
Assets
$42B
Category
Bonds

Returns

Past 1 year
−4.1%total return
Past 3 years
+12.4%+4.0% a year
Past 5 years
−8.0%−1.6% a year
Past 10 years
+3.0%+0.3% a year
Best calendar year
+17.9%2008
Worst calendar year
−15.2%2022
Losing years
5 of 23full calendar years

Risk

Volatility
7.7%typical yearly swing, 5 years
Sharpe ratio
-0.18return per unit of risk, 5 years
Worst decline ever
−23.9%Aug 2020 to Oct 2023
From its all-time high
−14.0%below the peak

IEF against the whole market

Where IEF ranks among every stock and fund, and what across the market has done better.

How does IEF rank among all ETFs?

This section ranks IEF on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how IEF stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureIEFRankStanding
1-year return−4.1%2,304 of 2,485bottom 8%
3-year return+12.4%1,842 of 1,949bottom 6%
5-year return−8.0%1,463 of 1,560bottom 7%
10-year return+3.0%924 of 958bottom 5%
Volatility, 5 years7.7%304 of 1,560top 19%
Sharpe ratio, 5 years-0.181,527 of 1,560bottom 3%
Worst decline, past 10 years−23.9%132 of 951top 14%

What has beaten IEF on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). IEF sits where the dashed lines cross. Anything in the green box above and to the left earned more than IEF with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to IEF; faint dots are 30 more of the 191 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

−2.0%0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%−4.0%−2.0%0.0%2.0%4.0%6.0%8.0%10.0%12.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than IEFBIL: +3.7% a year, volatility 0.3%IUSB: 0.0% a year, volatility 5.9%BNDX: +0.2% a year, volatility 4.9%VNLA: +4.0% a year, volatility 1.1%FLTR: +4.8% a year, volatility 2.1%FLRN: +4.5% a year, volatility 1.7%VTEB: +0.3% a year, volatility 4.1%SUB: +1.4% a year, volatility 1.7%USTB: +3.6% a year, volatility 2.0%FLDR: +3.9% a year, volatility 1.2%TBUX: +4.1% a year, volatility 1.1%RAVI: +3.8% a year, volatility 1.4%MEAR: +2.4% a year, volatility 1.0%STIP: +2.6% a year, volatility 2.8%FLUD: +3.9% a year, volatility 1.4%LDUR: +2.4% a year, volatility 2.1%UCON: +2.2% a year, volatility 4.0%JPIB: +2.5% a year, volatility 4.2%QAI: +4.1% a year, volatility 6.8%AVSF: +1.9% a year, volatility 2.7%AOK: +3.3% a year, volatility 7.2%NFLT: +2.7% a year, volatility 4.6%FLRT: +6.0% a year, volatility 2.3%IBD: +1.2% a year, volatility 5.7%BKLN: +5.4% a year, volatility 4.5%SRLN: +4.7% a year, volatility 3.9%SPHY: +3.7% a year, volatility 7.2%FPE: +2.0% a year, volatility 6.7%PREF: +2.5% a year, volatility 4.9%MUST: −0.1% a year, volatility 5.7%IEF: −1.6% a year, volatility 7.7%SHV: +3.6% a year, volatility 0.3%BND: −0.4% a year, volatility 6.1%VGSH: +1.9% a year, volatility 2.0%NEAR: +3.9% a year, volatility 1.4%SPSB: +2.8% a year, volatility 2.0%LMBS: +3.0% a year, volatility 2.6%BSCR: +1.7% a year, volatility 4.1%SCHP: +0.1% a year, volatility 6.1%JAAA: +5.1% a year, volatility 1.7%BALT: +6.3% a year, volatility 3.3%VRIG: +4.7% a year, volatility 1.3%FLOT: +4.5% a year, volatility 1.8%POCT: +10.0% a year, volatility 8.0%TFI: −0.7% a year, volatility 4.5%EP-PC: +5.2% a year, volatility 8.9%AQNB: +5.7% a year, volatility 11.6%SPTS: +2.0% a year, volatility 2.0%SCHO: +2.0% a year, volatility 2.0%HYGH: +6.6% a year, volatility 7.1%LQDH: +5.3% a year, volatility 4.4%IEFSHVBNDVGSHNEARSPSBBSCRSCHPJAAABALTVRIGPOCTTFIEP-PCAQNBSPTSHYGHLQDH−2.5%0.0%2.5%5.0%7.5%10.0%12.5%−2.5%0.0%2.5%5.0%7.5%10.0%12.5%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than IEFBIL: +3.7% a year, volatility 0.3%IUSB: 0.0% a year, volatility 5.9%BNDX: +0.2% a year, volatility 4.9%VNLA: +4.0% a year, volatility 1.1%FLTR: +4.8% a year, volatility 2.1%FLRN: +4.5% a year, volatility 1.7%VTEB: +0.3% a year, volatility 4.1%SUB: +1.4% a year, volatility 1.7%USTB: +3.6% a year, volatility 2.0%FLDR: +3.9% a year, volatility 1.2%TBUX: +4.1% a year, volatility 1.1%RAVI: +3.8% a year, volatility 1.4%MEAR: +2.4% a year, volatility 1.0%STIP: +2.6% a year, volatility 2.8%FLUD: +3.9% a year, volatility 1.4%LDUR: +2.4% a year, volatility 2.1%UCON: +2.2% a year, volatility 4.0%JPIB: +2.5% a year, volatility 4.2%QAI: +4.1% a year, volatility 6.8%AVSF: +1.9% a year, volatility 2.7%AOK: +3.3% a year, volatility 7.2%NFLT: +2.7% a year, volatility 4.6%FLRT: +6.0% a year, volatility 2.3%IBD: +1.2% a year, volatility 5.7%BKLN: +5.4% a year, volatility 4.5%SRLN: +4.7% a year, volatility 3.9%SPHY: +3.7% a year, volatility 7.2%FPE: +2.0% a year, volatility 6.7%PREF: +2.5% a year, volatility 4.9%MUST: −0.1% a year, volatility 5.7%IEF: −1.6% a year, volatility 7.7%SHV: +3.6% a year, volatility 0.3%BND: −0.4% a year, volatility 6.1%VGSH: +1.9% a year, volatility 2.0%NEAR: +3.9% a year, volatility 1.4%SPSB: +2.8% a year, volatility 2.0%LMBS: +3.0% a year, volatility 2.6%BSCR: +1.7% a year, volatility 4.1%SCHP: +0.1% a year, volatility 6.1%JAAA: +5.1% a year, volatility 1.7%BALT: +6.3% a year, volatility 3.3%VRIG: +4.7% a year, volatility 1.3%FLOT: +4.5% a year, volatility 1.8%POCT: +10.0% a year, volatility 8.0%TFI: −0.7% a year, volatility 4.5%EP-PC: +5.2% a year, volatility 8.9%AQNB: +5.7% a year, volatility 11.6%SPTS: +2.0% a year, volatility 2.0%SCHO: +2.0% a year, volatility 2.0%HYGH: +6.6% a year, volatility 7.1%LQDH: +5.3% a year, volatility 4.4%IEFSHVBNDVGSHNEARSPSBBSCRSCHPJAAABALTVRIGPOCTTFIEP-PCSPTSHYGHLQDH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 1 with more than 1.6× IEF's volatility is in the table only

Is there a better investment than IEF?

Investments that beat IEF over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat IEF over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks IEF's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than IEF follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than IEF's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× IEF's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than IEF's.

Screen the whole market against IEF for any period in BetterThanSPYOpen these 17 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with IEF?lower diversifies moreExpenseper year
IEFiShares 7-10 Year Treasury Bond ETF · this page
−1.6%7.7%-0.18−23.9%+3.0%1.000.15%
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.530.09%
Popular alternativesbest 3 shownThe investments people most often weigh against IEF. 15 of 22 passed at least one test.
SHViShares Trust iShares 0-1 Year Treasury Bond ETF · Treasury Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+3.6%0.3%12.09−0.4%+26.1%0.360.15%
BNDVanguard Total Bond Market ETF · Investment Grade Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSame exposure, lower expense ratio−0.4%6.1%-0.03−18.6%+13.2%0.980.03%
VGSHVanguard Short-Term Treasury ETF · Treasury Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+1.9%2.0%0.95−5.6%+18.8%0.870.03%
Same and neighboring categories, and shared themesbest 5 shownEverything else in Treasury Bonds and the categories next to it (Investment Grade Bonds, Short-Term Bonds, Mortgage-Backed Securities), plus IEF's specific themes. 34 of 38 passed at least one test.
NEARiShares Short Duration Bond Active ETF · Short-Term Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+3.9%1.4%2.71−9.6%+31.8%0.690.25%
SPSBState Street SPDR Portfolio Short Term Corporate Bond ETF · Investment Grade Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+2.8%2.0%1.38−11.8%+29.2%0.880.04%
LMBSFirst Trust Low Duration Opportunities ETF · Mortgage-Backed Securities
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+3.0%2.6%1.14−6.5%+25.6%0.880.66%
BSCRInvesco BulletShares 2027 Corporate Bond ETF · Investment Grade Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+1.7%4.1%0.44−17.3%—0.860.10%
SCHPSchwab US TIPS ETF · Treasury Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+0.1%6.1%0.05−14.3%+25.0%0.870.03%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 212 of 3,574 passed at least one test.
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+5.1%1.7%2.98−2.6%—0.170.20%
BALTInnovator Defined Wealth Shield ETF · Crypto
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+6.3%3.3%1.85−4.9%—0.550.69%
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+4.7%1.3%3.51−13.1%+40.5%0.180.30%
FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+4.5%1.8%2.48−13.5%+35.9%0.120.15%
POCTInnovator U.S. Equity Power Buffer ETF · Broad Market
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.0%8.0%1.23−18.8%—0.460.79%
TFIState Street SPDR Nuveen ICE Municipal Bond ETF · Bonds
Similar return, lower volatilityHigher return in most periods−0.7%4.5%-0.13−15.5%+11.9%0.870.23%
EP-PCEl Paso Energy Capital Trust I PFD CV TR SECS · Preferred Stocks
Higher return in most periods+5.2%8.9%0.61−25.4%+37.8%0.29—
AQNBAlgonquin Power & Utilities Corp. · Junior Subordinated Debt
Higher return in most periods+5.7%11.6%0.54−42.7%—0.22—
What these numbers mean for IEF
Annual return
IEF lost 1.6% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $9,200. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
IEF's volatility over the past 5 years was 7.7%, 45% of the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IEF's return lands within 7.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
IEF's Sharpe ratio over the past 5 years was -0.18, against 0.79 for the S&P 500, so IEF earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
IEF's worst fall from a peak to a low over the past 10 years was 23.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 23.9% fall takes a 31.5% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, IEF's monthly returns had a correlation of 0.53 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against IEF instead: the lower it is, the more that option would diversify a IEF holding. Guide: Correlation and diversification →
Show all 191 stocks and funds worth at least $500 million that earned more than IEF with less volatility

Out of 3,633 tested over 5 years. The strongest 40 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with IEFExpense
1
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF · Treasury Bonds
Same or nearby category+3.7%0.3%14.05−0.2%+25.8%0.210.14%
2
IUSBiShares Core Universal USD Bond ETF · Total Bond Market
Whole market0.0%5.9%0.04−17.9%+16.9%0.970.06%
3
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.170.20%
4
VGSHVanguard Short-Term Treasury ETF · Treasury Bonds
Popular alternative+1.9%2.0%0.95−5.6%+18.8%0.870.03%
5
BALTInnovator Defined Wealth Shield ETF · Crypto
Whole market+6.3%3.3%1.85−4.9%—0.550.69%
6
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
Whole market+4.7%1.3%3.51−13.1%+40.5%0.180.30%
7
FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds
Whole market+4.5%1.8%2.48−13.5%+35.9%0.120.15%
8
BNDXVanguard Total International Bond ETF · International Bonds
Whole market+0.2%4.9%0.06−16.2%+15.0%0.880.07%
9
VNLAJanus Henderson Short Duration Income ETF · Bonds
Whole market+4.0%1.1%3.77−4.5%—0.590.25%
10
FLTRVanEck IG Floating Rate ETF · Multi-Asset
Whole market+4.8%2.1%2.20−17.8%+41.8%0.090.14%
11
FLRNState Street SPDR Bloomberg Investment Grade Floating Rate ETF · Bonds
Whole market+4.5%1.7%2.58−14.7%+35.9%0.170.15%
12
VTEBVanguard Tax-Exempt Bond ETF · Municipal Bonds
Whole market+0.3%4.1%0.09−17.0%+18.6%0.880.03%
13
SUBiShares Short-Term National Muni Bond ETF · Municipal Bonds
Whole market+1.4%1.7%0.85−9.4%+15.6%0.800.07%
14
USTBVictoryShares Short-Term Bond ETF · Bonds
Whole market+3.6%2.0%1.73−5.3%—0.840.34%
15
FLDRFidelity Low Duration Bond Factor ETF · Bonds
Whole market+3.9%1.2%3.09−12.2%—0.760.15%
16
NEARiShares Short Duration Bond Active ETF · Short-Term Bonds
Same or nearby category+3.9%1.4%2.71−9.6%+31.8%0.690.25%
17
TBUXT. Rowe Price Ultra Short-Term Bond ETF · Bonds
Whole market+4.1%1.1%3.85−1.8%—0.590.17%
18
SPSBState Street SPDR Portfolio Short Term Corporate Bond ETF · Investment Grade Bonds
Same or nearby category+2.8%2.0%1.38−11.8%+29.2%0.880.04%
19
RAVINorthern Trust Ultra-Short Fixed Income ETF · Bonds
Whole market+3.8%1.4%2.61−3.7%+30.8%0.470.26%
20
MEARiShares Short Maturity Municipal Bond Active ETF · Bonds
Whole market+2.4%1.0%2.37−2.7%+19.3%0.730.26%
21
STIPiShares 0-5 Year TIPS Bond ETF · Treasury Bonds
Same or nearby category+2.6%2.8%0.94−6.5%+32.4%0.690.03%
22
LMBSFirst Trust Low Duration Opportunities ETF · Mortgage-Backed Securities
Same or nearby category+3.0%2.6%1.14−6.5%+25.6%0.880.66%
23
FLUDFranklin Ultra Short Bond ETF · Bonds
Whole market+3.9%1.4%2.74−1.7%—0.400.15%
24
LDURPIMCO Enhanced Low Duration Active Exchange-Traded Fund · Bonds
Whole market+2.4%2.1%1.13−8.7%+26.7%0.780.54%
25
UCONFirst Trust Smith Unconstrained Bond ETF · Bonds
Whole market+2.2%4.0%0.57−15.3%—0.880.86%
26
JPIBJPMorgan International Bond Opportunities ETF · Bonds
Whole market+2.5%4.2%0.62−13.1%—0.810.50%
27
BSCRInvesco BulletShares 2027 Corporate Bond ETF · Investment Grade Bonds
Same or nearby category+1.7%4.1%0.44−17.3%—0.860.10%
28
SCHPSchwab US TIPS ETF · Treasury Bonds
Same or nearby category+0.1%6.1%0.05−14.3%+25.0%0.870.03%
29
QAINYLI Hedge Multi-Strategy Tracker ETF · Alternatives
Whole market+4.1%6.8%0.64−14.9%+44.1%0.620.75%
30
AVSFAvantis Short-Term Fixed Income ETF · Bonds
Whole market+1.9%2.7%0.71−8.8%—0.930.15%
31
AOKiShares Core 30/70 Conservative Allocation ETF · Multi-Asset
Whole market+3.3%7.2%0.49−18.9%+60.0%0.850.20%
32
NFLTVirtus Newfleet Multi-Sector Bond ETF · Bonds
Whole market+2.7%4.6%0.61−15.1%+41.0%0.830.50%
33
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
Whole market+6.0%2.3%2.55−21.0%+58.0%0.320.60%
34
IBDInspire Corporate Bond ETF · Bonds
Whole market+1.2%5.7%0.23−16.3%—0.940.41%
35
BKLNInvesco Senior Loan ETF · Bank Loans
Whole market+5.4%4.5%1.19−24.1%+50.7%0.280.67%
36
SRLNState Street Blackstone Senior Loan ETF · Bank Loans
Whole market+4.7%3.9%1.18−22.3%+54.2%0.260.70%
37
SPHYState Street SPDR Portfolio High Yield Bond ETF · High Yield Bonds
Whole market+3.7%7.2%0.54−22.0%+55.0%0.720.05%
38
FPEFirst Trust Preferred Securities and Income ETF · Preferred Securities
Whole market+2.0%6.7%0.34−33.3%+51.3%0.530.83%
39
PREFPrincipal Spectrum Preferred Securities Active ETF · Bonds
Whole market+2.5%4.9%0.52−23.0%—0.640.55%
40
MUSTColumbia Multi-Sector Municipal Income ETF · Bonds
Whole market−0.1%5.7%0.01−13.8%—0.840.23%

IEF against its popular alternatives

The investments people most often weigh against IEF, compared period by period and year by year.

How do IEF's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at IEF, which divides the map into what did better or worse on each measure.

Green points earned more than IEF with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

0.0%5.0%10.0%15.0%20.0%25.0%−15.0%−10.0%−5.0%0.0%5.0%10.0%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityIEF: −1.7% a year, volatility 7.7%SPY (S&P 500): 12.7% a year, volatility 17.1%SHV: 3.6% a year, volatility 0.3%SPTS: 2.0% a year, volatility 2.0%SPTI: −0.1% a year, volatility 5.4%TIP: −0.1% a year, volatility 6.2%AGG: −0.3% a year, volatility 6.1%SCHR: −0.1% a year, volatility 5.4%VCIT: 0.6% a year, volatility 6.7%MBB: −0.2% a year, volatility 7.0%SCHO: 1.9% a year, volatility 2.0%SHY: 1.8% a year, volatility 2.0%IEI: 0.1% a year, volatility 4.8%GOVT: −0.7% a year, volatility 6.0%SPTL: −6.6% a year, volatility 14.4%VGLT: −6.6% a year, volatility 14.4%TLT: −7.7% a year, volatility 15.7%EDV: −12.1% a year, volatility 21.5%ZROZ: −13.7% a year, volatility 23.8%IEFSPY (S&P 500)SHVSPTSSPTISCHRVCITSCHOSPTLVGLTTLTEDVZROZ0.0%5.0%10.0%15.0%20.0%25.0%−15.0%−10.0%−5.0%0.0%5.0%10.0%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityIEF: −1.7% a year, volatility 7.7%SPY (S&P 500): 12.7% a year, volatility 17.1%SHV: 3.6% a year, volatility 0.3%SPTS: 2.0% a year, volatility 2.0%SPTI: −0.1% a year, volatility 5.4%TIP: −0.1% a year, volatility 6.2%AGG: −0.3% a year, volatility 6.1%SCHR: −0.1% a year, volatility 5.4%VCIT: 0.6% a year, volatility 6.7%MBB: −0.2% a year, volatility 7.0%SCHO: 1.9% a year, volatility 2.0%SHY: 1.8% a year, volatility 2.0%IEI: 0.1% a year, volatility 4.8%GOVT: −0.7% a year, volatility 6.0%SPTL: −6.6% a year, volatility 14.4%VGLT: −6.6% a year, volatility 14.4%TLT: −7.7% a year, volatility 15.7%EDV: −12.1% a year, volatility 21.5%ZROZ: −13.7% a year, volatility 23.8%IEFSPY (S&P 500)SHVSPTSSPTITIPSPTLVGLTEDVZROZ
All figures
InvestmentAnnual returnVolatility
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
SHV iShares Trust iShares 0-1 Year Treasury Bond ETF+3.6%0.3%
SPTS State Street SPDR Portfolio Short Term Treasury ETF+2.0%2.0%
SCHO Schwab Short-Term U.S. Treasury ETF+1.9%2.0%
SHY iShares 1-3 Year Treasury Bond ETF+1.8%2.0%
VCIT Vanguard Intermediate-Term Corporate Bond ETF+0.6%6.7%
IEI iShares 3-7 Year Treasury Bond ETF+0.1%4.8%
TIP iShares TIPS Bond ETF−0.1%6.2%
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF−0.1%5.4%
SCHR Schwab Intermediate-Term U.S. Treasury ETF−0.1%5.4%
MBB iShares MBS ETF−0.2%7.0%
AGG iShares Core U.S. Aggregate Bond ETF−0.3%6.1%
GOVT iShares U.S. Treasury Bond ETF−0.7%6.0%
IEF This pageiShares 7-10 Year Treasury Bond ETF−1.7%7.7%
SPTL State Street SPDR Portfolio Long Term Treasury ETF−6.6%14.4%
VGLT Vanguard Long-Term Treasury ETF−6.6%14.4%
TLT iShares 20+ Year Treasury Bond ETF−7.7%15.7%
EDV Vanguard Extended Duration Treasury ETF−12.1%21.5%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund−13.7%23.8%
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Has IEF consistently beaten its popular alternatives?

This section compares IEF with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than IEF helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than IEF over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
IEF iShares 7-10 Year Treasury Bond ETF (this page)—−0.6%−2.8%−4.2%−3.5%−4.1%+12.4%−8.0%+3.0%7.7%-0.18−23.9%0.15%$42B—
SHV QualifiediShares Trust iShares 0-1 Year Treasury Bond ETF5/5 short3/3 longAll-weather+0.3%+0.9%+1.8%+2.8%+3.6%+13.9%+19.4%+26.1%0.3%12.09−0.4%0.15%$23B—
SPTS QualifiedState Street SPDR Portfolio Short Term Treasury ETF5/5 short3/3 longAll-weather+0.3%+0.1%+0.2%+0.9%+1.6%+12.9%+10.2%+18.2%2.0%0.97−5.7%0.03%$7.2B—
SPTI QualifiedState Street SPDR Portfolio Intermediate Term Treasury ETF5/5 short3/3 longAll-weather−0.1%−1.6%−2.6%−1.9%−1.9%+13.1%−0.4%+12.0%5.4%0.01−16.1%0.03%$11B—
TIP QualifiediShares TIPS Bond ETF4/5 short3/3 longAll-weather−0.2%−1.7%−2.1%−0.7%−1.5%+13.3%−0.3%+23.5%6.2%0.02−14.5%0.18%$14B—
AGG QualifiediShares Core U.S. Aggregate Bond ETF4/5 short3/3 longAll-weather−0.6%−1.7%−2.6%−1.7%−1.9%+16.2%−1.5%+13.3%6.1%-0.02−18.4%0.03%$139B—
BND QualifiedVanguard Total Bond Market ETF4/5 short3/3 longAll-weather−0.6%−2.0%−2.8%−1.8%−2.1%+15.7%−1.8%+13.2%6.1%-0.03−18.6%0.03%$389B—
SCHR QualifiedSchwab Intermediate-Term U.S. Treasury ETF4/5 short3/3 longAll-weather−0.2%−1.6%−2.5%−2.0%−1.9%+13.1%−0.5%+10.8%5.4%0.01−16.1%0.03%$14B—
VCIT QualifiedVanguard Intermediate-Term Corporate Bond ETF3/5 short3/3 long−1.0%−2.7%−3.6%−2.8%−2.6%+21.5%+3.2%+26.4%6.7%0.13−20.6%0.03%$69B—
MBB QualifiediShares MBS ETF3/5 short3/3 long−0.8%−2.6%−3.5%−2.1%−1.9%+18.5%−0.8%+9.5%7.0%0.01−17.7%0.04%$35B—
SCHO QualifiedSchwab Short-Term U.S. Treasury ETF5/5 short2/3 long+0.3%+0.1%+0.2%+0.9%+1.5%+12.8%+10.1%+18.9%2.0%0.96−5.7%0.03%$16B—
VGSH QualifiedVanguard Short-Term Treasury ETF5/5 short2/3 long+0.3%−0.1%0.0%+0.6%+1.2%+12.5%+9.9%+18.8%2.0%0.95−5.6%0.03%$40B—
SHY QualifiediShares 1-3 Year Treasury Bond ETF5/5 short2/3 long+0.3%−0.2%−0.1%+0.5%+1.1%+12.1%+9.3%+17.7%2.0%0.89−5.7%0.15%$27B—
IEI QualifiediShares 3-7 Year Treasury Bond ETF5/5 short2/3 long−0.1%−1.7%−2.6%−2.1%−1.9%+12.3%+0.6%+11.2%4.8%0.05−14.6%0.15%$17B—
VGIT QualifiedVanguard Intermediate-Term Treasury ETF4/5 short2/3 long−0.2%−2.0%−2.9%−2.3%−2.3%+12.6%−0.7%+10.5%5.4%0.00−16.0%0.03%$48B—
GOVT QualifiediShares U.S. Treasury Bond ETF4/5 short2/3 long−0.2%−1.3%−2.2%−1.5%−1.8%+12.7%−3.5%+7.1%6.0%-0.09−19.1%0.05%$42B—
SPTL BondsState Street SPDR Portfolio Long Term Treasury ETF0/5 short0/3 long−1.5%−3.2%−5.3%−4.4%−7.3%+11.8%−28.8%−15.0%14.4%-0.40−46.2%0.03%$11B—
VGLT BondsVanguard Long-Term Treasury ETF0/5 short0/3 long−1.5%−3.5%−5.7%−4.8%−7.7%+11.3%−29.0%−15.2%14.4%-0.41−46.2%0.03%$15B—
TLT BondsiShares 20+ Year Treasury Bond ETF0/5 short0/3 long−1.6%−3.7%−6.1%−5.1%−8.8%+9.0%−33.1%−20.1%15.7%-0.44−48.4%0.15%$47B—
EDV BondsVanguard Extended Duration Treasury ETF0/5 short0/3 long−2.9%−4.7%−8.3%−7.4%−13.8%+5.0%−47.4%−34.3%21.5%-0.49−60.4%0.05%$4.0B—
ZROZ BondsPIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund0/5 short0/3 long−2.7%−4.5%−8.4%−7.7%−14.8%−0.1%−52.2%−39.6%23.8%-0.50−65.5%0.15%$1.9B—
GOVZ BondsiShares 25+ Year Treasury STRIPS Bond ETF0/5 short0/3 long−2.6%−4.6%−8.3%−7.8%−15.0%0.0%−51.9%—23.8%-0.50−62.5%0.15%$390M—
SCHQ BondsSchwab Long-Term U.S. Treasury ETF0/5 short0/3 long−1.5%−3.2%−5.3%−4.4%−7.3%+11.9%−28.7%—14.3%-0.40−46.1%0.03%$979M—
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How did IEF do year by year?

This table shows each investment's total return in every full calendar year since 2003, along with where IEF ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with IEF and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of IEF; gray means the two finished within a fraction of a point. The rank row places IEF among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of IEF20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003
IEF This pageiShares 7-10 Year Treasury Bond ETF—+8.0%−0.6%+3.6%−15.2%−3.3%+10.0%+8.0%+1.0%+2.6%+1.0%+1.5%+9.1%−6.1%+3.7%+15.7%+9.3%−6.6%+17.9%+10.4%+2.5%+2.6%+4.1%+3.0%
Rank among alternativesTop quarter in 6 of 223 of 1813 of 1813 of 1813 of 1813 of 187 of 189 of 188 of 189 of 1810 of 184 of 186 of 1812 of 184 of 176 of 164 of 148 of 114 of 112 of 53 of 52 of 53 of 5—
SPY S&P 500State Street SPDR S&P 500 ETF17 of 23+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%
SHV iShares Trust iShares 0-1 Year Treasury Bond ETF7 of 18+4.2%+5.1%+5.0%+0.9%−0.1%+0.8%+2.4%+1.7%+0.7%+0.4%0.0%0.0%0.0%0.0%+0.1%+0.1%+0.2%+2.8%—————
SPTS State Street SPDR Portfolio Short Term Treasury ETF5 of 14+5.1%+4.2%+4.3%−3.9%−0.7%+3.2%+3.5%+1.1%+0.6%+0.8%+0.9%+1.2%−0.3%+0.8%—————————
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF7 of 18+7.4%+1.3%+4.3%−10.7%−2.6%+7.7%+6.0%+2.3%+1.0%+0.3%+1.6%+2.5%−1.2%+1.5%+6.6%+4.9%−1.5%+11.3%—————
TIP iShares TIPS Bond ETF9 of 22+6.8%+1.7%+3.8%−12.3%+5.7%+10.8%+8.4%−1.4%+2.9%+4.7%−1.8%+3.6%−8.5%+6.4%+13.3%+6.1%+8.9%+0.1%+12.0%+0.3%+2.5%+8.3%—
AGG iShares Core U.S. Aggregate Bond ETF9 of 22+7.2%+1.3%+5.7%−13.0%−1.8%+7.5%+8.5%+0.1%+3.6%+2.4%+0.5%+6.0%−2.0%+3.8%+7.7%+6.3%+3.0%+7.9%+6.6%+3.9%+2.3%+3.8%—
SCHR Schwab Intermediate-Term U.S. Treasury ETF5 of 15+7.4%+1.4%+4.2%−10.5%−2.6%+7.7%+6.2%+1.5%+1.6%+1.0%+1.6%+4.4%−2.7%+2.1%+10.4%————————
VCIT Vanguard Intermediate-Term Corporate Bond ETF11 of 16+9.3%+3.2%+9.0%−14.0%−1.8%+9.4%+14.1%−1.8%+5.3%+5.3%+0.9%+7.7%−1.9%+10.5%+9.0%+10.0%———————
MBB iShares MBS ETF6 of 18+8.4%+1.3%+5.0%−11.7%−1.6%+4.1%+6.2%+0.8%+2.5%+1.3%+1.1%+6.4%−1.9%+2.0%+5.9%+5.6%+4.7%+7.8%—————
SCHO Schwab Short-Term U.S. Treasury ETF6 of 15+5.5%+3.6%+4.3%−3.9%−0.6%+3.1%+3.4%+1.5%+0.4%+0.9%+0.4%+0.5%+0.4%+0.3%+1.5%————————
SHY iShares 1-3 Year Treasury Bond ETF7 of 23+5.0%+3.9%+4.2%−3.9%−0.7%+3.0%+3.4%+1.5%+0.3%+0.8%+0.4%+0.4%+0.2%+0.3%+1.5%+2.3%+0.4%+6.6%+7.3%+3.9%+1.5%+0.7%+2.2%
IEI iShares 3-7 Year Treasury Bond ETF6 of 18+7.0%+1.8%+4.4%−9.5%−2.5%+6.9%+5.7%+1.4%+1.2%+1.2%+1.6%+3.2%−1.8%+1.8%+8.3%+6.3%−1.7%+12.8%—————
GOVT iShares U.S. Treasury Bond ETF5 of 13+3.8%+3.0%+4.2%−13.4%−1.1%+7.3%+7.3%+0.3%+2.2%+0.8%+0.9%+4.7%−2.5%——————————
SPTL State Street SPDR Portfolio Long Term Treasury ETF6 of 18+5.3%−6.2%+3.3%−29.4%−5.0%+18.1%+13.8%−1.6%+9.0%+0.9%−1.6%+25.3%−12.2%+2.9%+30.3%+8.7%−13.1%+24.0%—————
VGLT Vanguard Long-Term Treasury ETF5 of 16+5.3%−6.3%+3.3%−29.3%−5.0%+17.6%+14.3%−1.5%+8.6%+1.2%−1.0%+25.2%−12.4%+3.3%+29.2%+9.0%———————
TLT iShares 20+ Year Treasury Bond ETF8 of 23+4.2%−8.1%+2.8%−31.2%−4.6%+18.1%+14.1%−1.6%+9.2%+1.2%−1.8%+27.3%−13.4%+2.6%+34.0%+9.0%−21.8%+33.9%+10.3%+0.7%+8.6%+8.7%+1.6%
EDV Vanguard Extended Duration Treasury ETF7 of 18+0.6%−12.8%+1.4%−39.1%−6.2%+23.6%+18.7%−3.4%+13.9%+1.6%−4.8%+44.6%−19.8%+2.4%+55.9%+9.8%−35.8%+54.5%—————
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund7 of 16−1.8%−16.2%+1.2%−41.3%−5.2%+24.6%+21.2%−4.6%+14.8%+2.1%−6.1%+48.8%−20.9%+0.9%+60.4%+9.9%———————
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Risk and diversification

How IEF has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were IEF's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents IEF's five deepest drawdowns since it began trading in 2002, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means IEF fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringIEF fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2022 bear market−23.9%+35.6%Aug 2020Oct 20233.2 yearsNot yet—
2008 financial crisis−10.4%+6.9%Dec 2008Jun 20096 monthsJun 201012 months
No named crash−9.1%+5.4%May 2013Sep 20134 monthsOct 201413 months
February 2018 volatility shock−8.8%+32.4%Jul 2016May 201822 monthsMay 201912 months
No named crash−8.5%+3.6%Jun 2003Sep 20033 monthsMar 20046 months

How did IEF do in stock market crashes?

This section measures how far IEF, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: IEF began trading on July 30, 2002, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than IEF.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
IEF This pageiShares 7-10 Year Treasury Bond ETF—0.0%−16.1%−4.7%−1.2%−0.8%−2.9%−1.9%−0.3%−6.2%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF0 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
SHV iShares Trust iShares 0-1 Year Treasury Bond ETF7 of 90.0%−0.3%−0.1%0.0%0.0%−0.1%−0.1%0.0%−0.4%—
SPTS State Street SPDR Portfolio Short Term Treasury ETF5 of 60.0%−4.7%−0.5%−0.2%−0.3%−1.0%————
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF4 of 90.0%−11.9%−2.1%−0.8%−0.4%−1.6%−0.7%−0.2%−7.6%—
TIP iShares TIPS Bond ETF1 of 90.0%−14.3%−11.2%−2.0%−1.1%−2.5%−3.8%−0.2%−14.4%—
AGG iShares Core U.S. Aggregate Bond ETF3 of 90.0%−14.5%−9.6%−1.1%−0.8%−1.5%−1.3%−0.4%−12.8%—
SCHR Schwab Intermediate-Term U.S. Treasury ETF4 of 70.0%−11.9%−2.2%−0.8%−0.6%−2.1%−1.1%———
VCIT Vanguard Intermediate-Term Corporate Bond ETF1 of 80.0%−17.4%−16.9%−1.2%−1.0%−2.0%−3.0%0.0%——
MBB iShares MBS ETF4 of 90.0%−14.4%−4.3%−1.1%−0.6%−1.0%−0.8%0.0%−3.8%—
SCHO Schwab Short-Term U.S. Treasury ETF6 of 70.0%−4.7%−0.3%−0.3%−0.2%−0.7%−0.2%———
SHY iShares 1-3 Year Treasury Bond ETF7 of 90.0%−4.7%−0.7%−0.2%−0.1%−0.7%−0.2%−0.1%−2.2%—
IEI iShares 3-7 Year Treasury Bond ETF6 of 90.0%−10.9%−1.8%−0.7%−0.4%−2.0%−0.8%0.0%−5.3%—
GOVT iShares U.S. Treasury Bond ETF3 of 60.0%−13.0%−4.6%−0.9%−0.3%−2.1%————
SPTL State Street SPDR Portfolio Long Term Treasury ETF0 of 90.0%−28.6%−15.0%−4.2%−2.5%−5.5%−4.3%−0.3%−11.5%—
VGLT Vanguard Long-Term Treasury ETF0 of 80.0%−28.6%−14.2%−4.1%−2.4%−5.5%−4.3%0.0%——
TLT iShares 20+ Year Treasury Bond ETF0 of 90.0%−30.0%−15.7%−4.3%−2.3%−5.8%−5.0%−1.3%−16.2%—
EDV Vanguard Extended Duration Treasury ETF0 of 8−0.1%−37.8%−18.5%−6.6%−3.5%−9.2%−8.5%−0.8%——
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund0 of 8−0.4%−39.3%−21.2%−7.8%−3.8%−9.8%−9.1%−3.2%——
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How closely does IEF move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares IEF with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than IEF's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
IEF This pageiShares 7-10 Year Treasury Bond ETF7%14%0.510.08
IEI iShares 3-7 Year Treasury Bond ETF6%6%1.050.04
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF7%7%1.010.05
SCHR Schwab Intermediate-Term U.S. Treasury ETF6%7%0.920.05
TIP iShares TIPS Bond ETF15%17%0.870.18
VCIT Vanguard Intermediate-Term Corporate Bond ETF22%29%0.760.26
AGG iShares Core U.S. Aggregate Bond ETF12%17%0.710.14
GOVT iShares U.S. Treasury Bond ETF6%8%0.710.06
MBB iShares MBS ETF13%21%0.620.14
SPTL State Street SPDR Portfolio Long Term Treasury ETF7%28%0.230.15
VGLT Vanguard Long-Term Treasury ETF7%29%0.230.15
TLT iShares 20+ Year Treasury Bond ETF6%32%0.190.16
EDV Vanguard Extended Duration Treasury ETF5%46%0.110.22
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund4%50%0.080.24
SHV iShares Trust iShares 0-1 Year Treasury Bond ETF5%-5%—0.00
SPTS State Street SPDR Portfolio Short Term Treasury ETF5%-1%—0.01
SCHO Schwab Short-Term U.S. Treasury ETF5%-1%—0.01
SHY iShares 1-3 Year Treasury Bond ETF5%-1%—0.01
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What diversifies IEF?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with IEF's. Because such investments tend not to fall at the same time, pairing IEF with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which IEF lost money. The last two columns show a portfolio that is 80% IEF and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2024202220212013200980/20 mix volatility80/20 mix annual return
IEF iShares 7-10 Year Treasury Bond ETF (this page)1.00−8.0%-0.18−0.6%−15.2%−3.3%−6.1%−6.6%7.7%−2.1%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.49+119%1.48+15.9%+3.8%+17.8%——7.2%+1.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.18+225%1.34+29.8%+6.0%+18.0%+41.3%+2.0%7.1%+3.3%
POCT Broad MarketInnovator U.S. Equity Power Buffer ETF0.46+60.9%1.23+9.6%−1.3%+9.4%——6.9%+0.3%
PVAL Broad MarketPutnam Focused Large Cap Value ETF0.47+111%1.07+19.3%−2.6%———8.0%+1.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.43+101%1.04+33.4%+10.4%+23.1%+16.6%—7.8%+1.3%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.45+62.9%0.99+18.8%−5.6%+19.7%——7.1%+0.4%
SMH TechnologyVanEck Semiconductor ETF0.45+323%0.97+39.1%−33.5%+42.1%+33.4%+60.5%11.1%+5.6%
GLD CommoditiesSPDR Gold Shares0.41+126%0.96+26.7%−0.8%−4.2%−28.3%+24.0%8.2%+1.9%

Stocks

InvestmentCorrelation5Y returnSharpe2024202220212013200980/20 mix volatility80/20 mix annual return
IEF iShares 7-10 Year Treasury Bond ETF (this page)1.00−8.0%-0.18−0.6%−15.2%−3.3%−6.1%−6.6%7.7%−2.1%
CAH Medical - DistributionCardinal Health, Inc.0.22+479%1.55+19.0%+54.1%−0.4%+66.0%−4.4%8.9%+5.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.03+3,143%1.47+215%+1.3%+37.9%+27.6%+105%13.4%+17.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.15+1,636%1.46+107%+17.0%+89.0%+61.7%+17.8%11.6%+13.4%
MCK Medical - DistributionMcKesson Corporation0.14+413%1.44+23.7%+51.8%+44.2%+67.7%+62.9%8.5%+4.9%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.05+690%1.41−4.0%+86.6%+61.0%+48.6%—9.2%+7.3%
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Common questions

What was IEF's worst drawdown?

IEF's deepest decline since it began trading in 2002 was 23.9%, from August 2020 to October 2023. It has not yet climbed back to that peak.

What were IEF's best and worst years?

Over 23 full calendar years, IEF's best year was 2008, when it returned 17.9%. Its worst was 2022, with a return of -15.2%.

Is there a better investment than IEF?

Among IEF's popular alternatives, SHV, BND and VGSH earned more than IEF with less volatility over the past 5 years. SHV returned 3.6% a year at 0.3% volatility, against a loss of 1.6% a year at 7.7%. VGIT tracks the same thing for 0.03% a year against IEF's 0.15%, and has kept pace over the past decade: about $120 less in fees on $10,000 over 10 years.

Is IEF more volatile than the S&P 500?

No. IEF's volatility over the past 5 years was 7.7%, 45% of the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IEF's return lands within 7.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is IEF's Sharpe ratio?

IEF's Sharpe ratio over the past 5 years was -0.18, against 0.79 for the S&P 500, so IEF earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is IEF with the S&P 500?

Over the past 5 years, IEF's monthly returns had a correlation of 0.53 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against IEF instead: the lower it is, the more that option would diversify a IEF holding.

What are the best alternatives to IEF?

Of the 22 popular alternatives we compared, 15 outperformed IEF in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SHV, SPTS and SPTI.

Did IEF outperform the S&P 500?

IEF finished ahead of the S&P 500 (SPY) in five of 23 full calendar years. In 2025, it returned +8.0%, against +17.7% for the index.

How did IEF do in stock market crashes?

IEF fell less than the S&P 500 (SPY) in nine of the nine major crashes it has traded through, and further in no. The clearest case was the 2008 financial crisis, when IEF fell 6.2% and the S&P 500 fell 55.2%.

What diversifies IEF?

These had a low correlation with IEF over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.49), DXJ (correlation 0.18) and POCT (correlation 0.46); among large stocks, CAH (correlation 0.22), CLS (correlation 0.03) and FIX (correlation 0.15). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to IEF

Other stocks and ETFs