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AGG vs. GOVT
Performance
Return for Risk
Dividends
Drawdowns
Volatility

AGG vs. GOVT

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core U.S. Aggregate Bond ETF (AGG) and iShares U.S. Treasury Bond ETF (GOVT).

AGG and GOVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGG is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Aggregate Bond Index. It was launched on Sep 22, 2003. GOVT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Bond Index. It was launched on Feb 14, 2012. Both AGG and GOVT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AGG vs. GOVT - Performance Comparison

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

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AGG vs. GOVT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AGG
iShares Core U.S. Aggregate Bond ETF		0.09%7.19%1.31%5.65%-13.02%-1.77%7.48%8.46%0.09%3.55%
GOVT
iShares U.S. Treasury Bond ETF		0.02%3.77%2.95%4.17%-13.39%-1.11%7.28%7.36%0.26%2.19%

Returns By Period

In the year-to-date period, AGG achieves a 0.09% return, which is significantly higher than GOVT's 0.02% return. Over the past 10 years, AGG has outperformed GOVT with an annualized return of 1.66%, while GOVT has yielded a comparatively lower 0.95% annualized return.

AGG

1D
0.07%
1M
-1.33%
YTD
0.09%
6M
0.78%
1Y
4.05%
3Y*
3.62%
5Y*
0.24%
10Y*
1.66%

GOVT

1D
-0.05%
1M
-1.30%
YTD
0.02%
6M
0.58%
1Y
2.93%
3Y*
2.53%
5Y*
-0.25%
10Y*
0.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core U.S. Aggregate Bond ETF

iShares U.S. Treasury Bond ETF

Often compared with AGG:
AGG vs. BNDAGG vs. TLTAGG vs. HYGAGG vs. FBNDAGG vs. PIMIXAGG vs. IUSBAGG vs. AGGU.L
Often compared with GOVT:
GOVT vs. VGITGOVT vs. BNDGOVT vs. TLTGOVT vs. IEFGOVT vs. SHVGOVT vs. GOVZGOVT vs. VTG

AGG vs. GOVT - Expense Ratio Comparison

AGG has a 0.03% expense ratio, which is lower than GOVT's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

GOVT
iShares U.S. Treasury Bond ETF
AGG
iShares Core U.S. Aggregate Bond ETF

Return for Risk

AGG vs. GOVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AGG
AGG Risk / Return Rank: 5050
Overall Rank
AGG Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
AGG Sortino Ratio Rank: 4646
Sortino Ratio Rank
AGG Omega Ratio Rank: 4040
Omega Ratio Rank
AGG Calmar Ratio Rank: 6767
Calmar Ratio Rank
AGG Martin Ratio Rank: 4949
Martin Ratio Rank
GOVT
GOVT Risk / Return Rank: 3636
Overall Rank
GOVT Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
GOVT Sortino Ratio Rank: 3535
Sortino Ratio Rank
GOVT Omega Ratio Rank: 2828
Omega Ratio Rank
GOVT Calmar Ratio Rank: 4545
Calmar Ratio Rank
GOVT Martin Ratio Rank: 3434
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. GOVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and iShares U.S. Treasury Bond ETF (GOVT). 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.

AGGGOVTDifference

Sharpe ratio

Return per unit of total volatility

0.93

0.73

+0.21

Sortino ratio

Return per unit of downside risk

1.32

1.06

+0.26

Omega ratio

Gain probability vs. loss probability

1.17

1.12

+0.04

Calmar ratio

Return relative to maximum drawdown

1.76

1.23

+0.53

Martin ratio

Return relative to average drawdown

4.89

3.16

+1.73

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. GOVT - Sharpe Ratio Comparison

The current AGG Sharpe Ratio is 0.93, which is comparable to the GOVT Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of AGG and GOVT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

AGGGOVTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.93

0.73

+0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.04

-0.04

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

0.18

+0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.26

+0.33

Correlation

The correlation between AGG and GOVT is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AGG vs. GOVT - Dividend Comparison

AGG's dividend yield for the trailing twelve months is around 3.95%, more than GOVT's 3.52% yield.

TTM20252024202320222021202020192018201720162015
AGG
iShares Core U.S. Aggregate Bond ETF		3.95%3.89%3.74%3.13%2.39%1.77%2.14%2.70%2.72%2.32%2.39%2.45%
GOVT
iShares U.S. Treasury Bond ETF		3.52%3.49%3.14%2.65%1.77%0.96%2.17%1.98%1.97%1.57%1.40%1.25%

Drawdowns

AGG vs. GOVT - Drawdown Comparison

The maximum AGG drawdown since its inception was -18.43%, roughly equal to the maximum GOVT drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for AGG and GOVT.

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Drawdown Indicators

AGGGOVTDifference

Max Drawdown

Largest peak-to-trough decline

-18.43%

-19.07%

+0.64%

Max Drawdown (1Y)

Largest decline over 1 year

-2.52%

-2.58%

+0.06%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-16.60%

-1.22%

Max Drawdown (10Y)

Largest decline over 10 years

-18.43%

-19.07%

+0.64%

Current Drawdown

Current decline from peak

-2.30%

-7.05%

+4.75%

Average Drawdown

Average peak-to-trough decline

-2.71%

-5.23%

+2.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.91%

1.01%

-0.10%

Volatility

AGG vs. GOVT - Volatility Comparison

iShares Core U.S. Aggregate Bond ETF (AGG) has a higher volatility of 1.67% compared to iShares U.S. Treasury Bond ETF (GOVT) at 1.45%. This indicates that AGG's price experiences larger fluctuations and is considered to be riskier than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AGGGOVTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.67%

1.45%

+0.22%

Volatility (6M)

Calculated over the trailing 6-month period

2.55%

2.45%

+0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

4.37%

4.06%

+0.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.07%

6.03%

+0.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.39%

5.22%

+0.17%