A derivatives trader at an investment bank has initiated an interest rate swap contract today with an institutional client. The current value of the trader's position in the contract is near zero. The trader considers using either DV01 or effective duration to measure the interest rate sensitivity of the position and assess by how much its value could decline if the term structure of spot rates moves unfavorably. What would be the most appropriate measure for the analyst to use to quantify the interest rate risk of the contract, and why?