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AGG vs. DBEF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AGG vs. DBEF

Last updated Jun 9, 2026

AGG (iShares Core U.S. Aggregate Bond ETF) and DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while DBEF is a Hedge Fund fund tracking the MSCI EAFE US Dollar Hedged Index. Both are passively managed. Over the past 10 years, AGG returned 1.52%/yr vs 12.28%/yr for DBEF. At a correlation of -0.10, they often move in opposite directions. AGG charges 0.03%/yr vs 0.36%/yr for DBEF.

Performance

AGG vs. DBEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core U.S. Aggregate Bond ETF (AGG) and Xtrackers MSCI EAFE Hedged Equity ETF (DBEF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AGG achieves a -0.08% return, which is significantly lower than DBEF's 9.52% return. Over the past 10 years, AGG has underperformed DBEF with an annualized return of 1.52%, while DBEF has yielded a comparatively higher 12.28% annualized return.

AGG

1D
0.00%
1M
-0.69%
YTD
-0.08%
6M
0.26%
1Y
4.97%
3Y*
3.88%
5Y*
-0.03%
10Y*
1.52%

DBEF

1D
0.82%
1M
1.44%
YTD
9.52%
6M
11.55%
1Y
22.84%
3Y*
17.58%
5Y*
12.96%
10Y*
12.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AGG vs. DBEF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AGG
iShares Core U.S. Aggregate Bond ETF		-0.08%7.19%1.31%5.65%-13.02%-1.77%7.48%8.46%0.09%3.55%
DBEF
Xtrackers MSCI EAFE Hedged Equity ETF		9.52%23.16%13.40%20.15%-5.13%19.60%2.03%24.94%-9.52%16.74%

Correlation

The correlation between AGG and DBEF is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (10Y)
Calculated over the trailing 10-year period

-0.02

Correlation (All Time)
Calculated using the full available price history since Jun 10, 2011

-0.10

The correlation between AGG and DBEF shifts across timeframes, from -0.10 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares Core U.S. Aggregate Bond ETF

Xtrackers MSCI EAFE Hedged Equity ETF

Often compared with AGG:
AGG vs. BNDAGG vs. TLTAGG vs. HYGAGG vs. FBNDAGG vs. PIMIXAGG vs. IUSBAGG vs. AGGH
Often compared with DBEF:
DBEF vs. HEFADBEF vs. VXUSDBEF vs. DBEUDBEF vs. IHDGDBEF vs. SCHDDBEF vs. HFXIDBEF vs. PWJZX

Return for Risk

AGG vs. DBEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AGG
AGG Risk / Return Rank: 4040
Overall Rank
AGG Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
AGG Sortino Ratio Rank: 4242
Sortino Ratio Rank
AGG Omega Ratio Rank: 3939
Omega Ratio Rank
AGG Calmar Ratio Rank: 4040
Calmar Ratio Rank
AGG Martin Ratio Rank: 3838
Martin Ratio Rank
DBEF
DBEF Risk / Return Rank: 6060
Overall Rank
DBEF Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
DBEF Sortino Ratio Rank: 6161
Sortino Ratio Rank
DBEF Omega Ratio Rank: 6161
Omega Ratio Rank
DBEF Calmar Ratio Rank: 5454
Calmar Ratio Rank
DBEF Martin Ratio Rank: 6262
Martin Ratio Rank
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.

AGG vs. DBEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and Xtrackers MSCI EAFE Hedged Equity ETF (DBEF). 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.

AGGDBEFDifference
Sharpe ratioReturn per unit of total volatility
1.32
1.83

-0.51

Sortino ratioReturn per unit of downside risk
1.94
2.56

-0.62

Omega ratioGain probability vs. loss probability

1.23

1.34

-0.10

Calmar ratioReturn relative to maximum drawdown

1.81

2.44

-0.63

Martin ratioReturn relative to average drawdown

5.44

10.24

-4.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGG vs. DBEF - Sharpe Ratio Comparison

The current AGG Sharpe Ratio is 1.32, which is comparable to the DBEF Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of AGG and DBEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

AGGDBEFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

1.83

-0.51

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.00

0.95

-0.95

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.78

-0.50

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.55

+0.04

Drawdowns

AGG vs. DBEF - Drawdown Comparison

The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum DBEF drawdown of -32.46%. Use the drawdown chart below to compare losses from any high point for AGG and DBEF.

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Drawdown Indicators

AGGDBEFDifference

Max Drawdown

Largest peak-to-trough decline

-18.43%

-32.46%

+14.03%

Max Drawdown (1Y)

Largest decline over 1 year

-2.76%

-9.41%

+6.65%

Max Drawdown (3Y)

Largest decline over 3 years

-6.11%

-14.62%

+8.51%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-14.95%

-2.87%

Max Drawdown (10Y)

Largest decline over 10 years

-18.43%

-32.46%

+14.03%

Current Drawdown

Current decline from peak

-2.47%

-1.26%

-1.21%

Average Drawdown

Average peak-to-trough decline

-2.71%

-4.73%

+2.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.92%

2.24%

-1.32%

Volatility

AGG vs. DBEF - Volatility Comparison

The current volatility for iShares Core U.S. Aggregate Bond ETF (AGG) is 1.29%, while Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) has a volatility of 3.60%. This indicates that AGG experiences smaller price fluctuations and is considered to be less risky than DBEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AGGDBEFDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.29%

3.60%

-2.31%

Volatility (6M)

Calculated over the trailing 6-month period

2.77%

10.41%

-7.64%

Volatility (1Y)

Calculated over the trailing 1-year period

3.80%

12.59%

-8.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.09%

13.78%

-7.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.41%

15.81%

-10.40%

AGG vs. DBEF - Expense Ratio Comparison

AGG has a 0.03% expense ratio, which is lower than DBEF's 0.36% expense ratio.

Dividends

AGG vs. DBEF - Dividend Comparison

AGG's dividend yield for the trailing twelve months is around 4.00%, less than DBEF's 5.07% yield.

PositionTTM20252024202320222021202020192018201720162015
AGG
iShares Core U.S. Aggregate Bond ETF		4.00%3.89%3.74%3.13%2.39%1.77%2.14%2.70%2.72%2.32%2.39%2.45%
DBEF
Xtrackers MSCI EAFE Hedged Equity ETF		5.07%5.55%1.29%4.46%15.85%2.28%2.41%3.03%3.22%2.98%2.55%3.70%

Frequently Asked Questions

AGG and DBEF have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBEF has higher volatility (3.60%) compared to AGG (1.29%). In terms of maximum drawdown, AGG dropped -18.43% vs DBEF's -32.46%.

On 10-year performance, DBEF leads with 12.28% vs 1.52% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, AGG has been the lower-risk option at 1.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DBEF has performed better with a 12.28% return vs 1.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AGG is cheaper with a 0.03% expense ratio, compared with 0.36% for DBEF.

DBEF has the higher dividend yield at 5.07%, compared with 4.00% for AGG.

AGG is categorized as Total Bond Market, while DBEF is Hedge Fund. AGG tracks Bloomberg U.S. Aggregate Bond Index, while DBEF tracks MSCI EAFE US Dollar Hedged Index. They also come from different issuers: iShares and DWS. Their fees differ too: 0.03% for AGG and 0.36% for DBEF.

DBEF currently has the higher Sharpe Ratio (1.83 vs 1.32), 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.

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