[kai-zer]

You obviously don't understand the concept of duration. You are comparing 5-10yr debt to 20-30yr debt.

More apt comparison would be intermediate treasuries, much different picture (time frame also questionable for a pure comparison):

http://finance.yahoo.com/q/bc?s=JNK&t=2y&l=on&z=...

[mynameishere]

You can see some better numbers here. Of course, when I say "interest rate risk", that function involves duration.

http://etfdb.com/etf/JNK/fundamentals/ http://etfdb.com/etf/IEF/fundamentals/