AGG vs. HYGV
AGG (iShares Core U.S. Aggregate Bond ETF) and HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while HYGV is a High Yield Bonds fund tracking the Northern Trust High Yield Value-Scored US Corporate Bond Index. Both are passively managed. Over the past 5 years, AGG returned 0.08%/yr vs 3.44%/yr for HYGV. At a 0.35 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.37%/yr for HYGV.
Performance
AGG vs. HYGV - Performance Comparison
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Returns By Period
In the year-to-date period, AGG achieves a 0.64% return, which is significantly lower than HYGV's 1.71% return.
AGG
- 1D
- 0.58%
- 1M
- 0.59%
- YTD
- 0.64%
- 6M
- 0.74%
- 1Y
- 5.01%
- 3Y*
- 4.07%
- 5Y*
- 0.08%
- 10Y*
- 1.58%
HYGV
- 1D
- 0.53%
- 1M
- 0.72%
- YTD
- 1.71%
- 6M
- 1.99%
- 1Y
- 6.90%
- 3Y*
- 8.43%
- 5Y*
- 3.44%
- 10Y*
- —
AGG vs. HYGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 0.64% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 1.52% |
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 1.71% | 7.92% | 8.02% | 12.11% | -12.60% | 5.93% | 8.01% | 15.76% | -4.15% |
Correlation
The correlation between AGG and HYGV is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2018 | 0.35 |
Over the past year, AGG and HYGV have become more correlated (0.61) than their long-term average of 0.35, meaning their price movements have been converging.
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Return for Risk
AGG vs. HYGV — Risk / Return Rank
AGG
HYGV
AGG vs. HYGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and FlexShares High Yield Value-Scored US Bond Index Fund (HYGV). 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.
| AGG | HYGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.34 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.58 | -0.76 |
| Martin ratioReturn relative to average drawdown | 5.38 | 11.11 | -5.72 |
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Drawdowns
AGG vs. HYGV - Drawdown Comparison
The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum HYGV drawdown of -23.47%. Use the drawdown chart below to compare losses from any high point for AGG and HYGV.
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Drawdown Indicators
| AGG | HYGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -23.47% | +5.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.68% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -5.56% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -17.12% | -0.70% |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | — | — |
Current DrawdownCurrent decline from peak | -1.76% | 0.00% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -3.31% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.62% | +0.31% |
Volatility
AGG vs. HYGV - Volatility Comparison
iShares Core U.S. Aggregate Bond ETF (AGG) has a higher volatility of 1.36% compared to FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) at 1.20%. This indicates that AGG's price experiences larger fluctuations and is considered to be riskier than HYGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGG | HYGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.20% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 3.08% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.90% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 7.59% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 9.19% | -3.78% |
AGG vs. HYGV - Expense Ratio Comparison
AGG has a 0.03% expense ratio, which is lower than HYGV's 0.37% expense ratio.
Dividends
AGG vs. HYGV - Dividend Comparison
AGG's dividend yield for the trailing twelve months is around 3.97%, less than HYGV's 7.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.97% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 7.38% | 7.48% | 8.20% | 8.77% | 7.64% | 6.07% | 6.18% | 7.95% | 5.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGG and HYGV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.36%) compared to HYGV (1.20%). In terms of maximum drawdown, AGG dropped -18.43% vs HYGV's -23.47%.
On 5-year performance, HYGV leads with 3.44% vs 0.08% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, HYGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYGV has performed better with a 3.44% return vs 0.08%. 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 0.37% for HYGV.
HYGV has the higher dividend yield at 7.38%, compared with 3.97% for AGG.
AGG is categorized as Total Bond Market, while HYGV is High Yield Bonds. AGG tracks Bloomberg U.S. Aggregate Bond Index, while HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.03% for AGG and 0.37% for HYGV.
HYGV currently has the higher Sharpe Ratio (1.78 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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