EDV: A +5.1% Is Not Enough For Me To Justify A 3.3x Sensitivity

Vanguard Extended Duration Treasury Index ETF has a 5.1% yield to maturity but carries extreme duration risk and high rate sensitivity. EDV's structural bias towards maximum duration results in a permanent ~24-year duration, amplifying its beta to 3.46 versus the Bloomberg U.S. Aggregate Bond Index. Current yield premium over peers like TLT and VGLT is minimal, making EDV's added price sensitivity unjustified in today's rate environment, in my opinion.