AFIX vs. BBAG

Last updated Jun 23, 2026

AFIX (Allspring Broad Market Core Bond ETF) and BBAG (JPMorgan BetaBuilders U.S. Aggregate Bond ETF) are both Intermediate Core Bond funds. AFIX is actively managed, while BBAG is passively managed. Over the past year, AFIX returned 4.99% vs 4.45% for BBAG. With a 0.95 correlation, they move nearly in lockstep. AFIX charges 0.20%/yr vs 0.03%/yr for BBAG.

Performance

AFIX vs. BBAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Broad Market Core Bond ETF (AFIX) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFIX achieves a 0.47% return, which is significantly higher than BBAG's 0.33% return.

AFIX

• 1D: -0.26%
• 1M: 0.64%
• YTD: 0.47%
• 6M: 0.63%
• 1Y: 4.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBAG

• 1D: -0.32%
• 1M: 0.63%
• YTD: 0.33%
• 6M: 0.51%
• 1Y: 4.45%
• 3Y*: 3.86%
• 5Y*: -0.04%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFIX vs. BBAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AFIX Allspring Broad Market Core Bond ETF	0.47%	7.52%	-1.56%
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	0.33%	7.27%	-1.85%

Correlation

The correlation between AFIX and BBAG is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.95

The correlation between AFIX and BBAG has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

AFIX vs. BBAG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AFIX

AFIX Risk / Return Rank: 35
AFIX Sharpe Ratio Rank: 37
AFIX Sortino Ratio Rank: 38
AFIX Omega Ratio Rank: 35
AFIX Calmar Ratio Rank: 33
AFIX Martin Ratio Rank: 33

BBAG

BBAG Risk / Return Rank: 33
BBAG Sharpe Ratio Rank: 33
BBAG Sortino Ratio Rank: 34
BBAG Omega Ratio Rank: 31
BBAG Calmar Ratio Rank: 33
BBAG Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AFIX vs. BBAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Broad Market Core Bond ETF (AFIX) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG). 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.

	AFIX	BBAG	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.15	+0.12
Sortino ratio: Return per unit of downside risk	1.91	1.73	+0.18
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.62	1.61	+0.01
Martin ratio: Return relative to average drawdown	4.69	4.54	+0.15

AFIX vs. BBAG - Sharpe Ratio Comparison

The current AFIX Sharpe Ratio is 1.27, which is comparable to the BBAG Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of AFIX and BBAG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AFIX vs. BBAG - Drawdown Comparison

The maximum AFIX drawdown since its inception was -3.33%, smaller than the maximum BBAG drawdown of -18.73%. Use the drawdown chart below to compare losses from any high point for AFIX and BBAG.

Drawdown Indicators

	AFIX	BBAG	Difference
Max Drawdown Largest peak-to-trough decline	-3.33%	-18.73%	+15.40%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-2.78%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.06%	—
Current Drawdown Current decline from peak	-1.72%	-2.69%	+0.97%
Average Drawdown Average peak-to-trough decline	-0.98%	-6.20%	+5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.98%	+0.09%

Volatility

AFIX vs. BBAG - Volatility Comparison

Allspring Broad Market Core Bond ETF (AFIX) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) have volatilities of 1.17% and 1.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFIX	BBAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	1.13%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	2.91%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.95%	3.89%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	5.93%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.54%	5.79%	-1.25%

AFIX vs. BBAG - Expense Ratio Comparison

AFIX has a 0.20% expense ratio, which is higher than BBAG's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AFIX vs. BBAG - Dividend Comparison

AFIX's dividend yield for the trailing twelve months is around 5.01%, more than BBAG's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AFIX Allspring Broad Market Core Bond ETF	5.01%	4.94%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	4.36%	4.29%	4.25%	3.60%	2.23%	1.44%	2.26%	2.92%	0.16%

Frequently Asked Questions

Can I hold both AFIX and BBAG in my portfolio?

With a correlation of 0.95, AFIX and BBAG 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.

Which is riskier, AFIX or BBAG?

AFIX has higher volatility (1.17%) compared to BBAG (1.13%). In terms of maximum drawdown, AFIX dropped -3.33% vs BBAG's -18.73%.

Which ETF is better, AFIX or BBAG?

On 1-year performance, AFIX leads with 4.99% vs 4.45% for BBAG. On fees, BBAG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AFIX or BBAG?

Over the 1-year period, AFIX has performed better with a 4.99% return vs 4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFIX or BBAG?

BBAG is cheaper with a 0.03% expense ratio, compared with 0.20% for AFIX.

Which ETF pays a higher dividend yield, AFIX or BBAG?

AFIX has the higher dividend yield at 5.01%, compared with 4.36% for BBAG.

What is the main difference between AFIX and BBAG?

They also come from different issuers: Allspring and JPMorgan. Their fees differ too: 0.20% for AFIX and 0.03% for BBAG.

Which has better risk-adjusted returns?

AFIX currently has the higher Sharpe Ratio (1.27 vs 1.15), 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.