AGG vs. HYG

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Core U.S. Aggregate Bond ETF (AGG) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).

AGG and HYG 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. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. Both AGG and HYG 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. HYG - 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 iBoxx $ High Yield Corporate Bond ETF (HYG). The values are adjusted to include any dividend payments, if applicable.

AGG vs. HYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGG iShares Core U.S. Aggregate Bond ETF	0.02%	7.19%	1.31%	5.65%	-13.02%	-1.77%	7.48%	8.46%	0.09%	3.55%
HYG iShares iBoxx $ High Yield Corporate Bond ETF	-0.35%	8.59%	7.97%	11.54%	-10.98%	3.76%	4.47%	14.09%	-2.02%	6.07%

Returns By Period

In the year-to-date period, AGG achieves a 0.02% return, which is significantly higher than HYG's -0.35% return. Over the past 10 years, AGG has underperformed HYG with an annualized return of 1.66%, while HYG has yielded a comparatively higher 5.13% annualized return.

AGG

• 1D: 0.23%
• 1M: -1.79%
• YTD: 0.02%
• 6M: 0.97%
• 1Y: 4.36%
• 3Y*: 3.59%
• 5Y*: 0.23%
• 10Y*: 1.66%

HYG

• 1D: 0.95%
• 1M: -0.95%
• YTD: -0.35%
• 6M: 0.87%
• 1Y: 6.89%
• 3Y*: 7.90%
• 5Y*: 3.61%
• 10Y*: 5.13%

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

AGG vs. HYG - Expense Ratio Comparison

AGG has a 0.03% expense ratio, which is lower than HYG's 0.49% expense ratio.

HYG

iShares iBoxx $ High Yield Corporate Bond ETF

AGG

iShares Core U.S. Aggregate Bond ETF

Return for Risk

AGG vs. HYG — Risk / Return Rank

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

AGG

AGG Risk / Return Rank: 60
AGG Sharpe Ratio Rank: 60
AGG Sortino Ratio Rank: 58
AGG Omega Ratio Rank: 50
AGG Calmar Ratio Rank: 74
AGG Martin Ratio Rank: 57

HYG

HYG Risk / Return Rank: 78
HYG Sharpe Ratio Rank: 73
HYG Sortino Ratio Rank: 77
HYG Omega Ratio Rank: 79
HYG Calmar Ratio Rank: 73
HYG Martin Ratio Rank: 86

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. HYG - 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 iBoxx $ High Yield Corporate Bond ETF (HYG). 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.

	AGG	HYG	Difference
Sharpe ratio Return per unit of total volatility	1.00	1.24	-0.24
Sortino ratio Return per unit of downside risk	1.42	1.87	-0.44
Omega ratio Gain probability vs. loss probability	1.18	1.29	-0.11
Calmar ratio Return relative to maximum drawdown	1.81	1.78	+0.03
Martin ratio Return relative to average drawdown	5.07	9.42	-4.35
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. HYG - Sharpe Ratio Comparison

The current AGG Sharpe Ratio is 1.00, which is comparable to the HYG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of AGG and HYG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AGG	HYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.24	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.48	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.62	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.45	+0.14

Correlation

The correlation between AGG and HYG is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

AGG vs. HYG - Dividend Comparison

AGG's dividend yield for the trailing twelve months is around 3.93%, less than HYG's 5.86% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGG iShares Core U.S. Aggregate Bond ETF	3.93%	3.89%	3.74%	3.13%	2.39%	1.77%	2.14%	2.70%	2.72%	2.32%	2.39%	2.45%
HYG iShares iBoxx $ High Yield Corporate Bond ETF	5.86%	5.71%	6.01%	5.74%	5.30%	4.02%	4.88%	4.99%	5.54%	5.12%	5.27%	5.90%

Drawdowns

AGG vs. HYG - Drawdown Comparison

The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for AGG and HYG.

Drawdown Indicators

	AGG	HYG	Difference
Max Drawdown Largest peak-to-trough decline	-18.43%	-34.25%	+15.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-3.93%	+1.41%
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	-15.79%	-2.03%
Max Drawdown (10Y) Largest decline over 10 years	-18.43%	-22.03%	+3.60%
Current Drawdown Current decline from peak	-2.36%	-1.30%	-1.06%
Average Drawdown Average peak-to-trough decline	-2.71%	-3.27%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.74%	+0.16%

Volatility

AGG vs. HYG - Volatility Comparison

The current volatility for iShares Core U.S. Aggregate Bond ETF (AGG) is 1.66%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 2.28%. This indicates that AGG experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGG	HYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	2.28%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	2.55%	2.92%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	5.56%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.07%	7.51%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.39%	8.31%	-2.92%