AGG vs. ICSH
AGG (iShares Core U.S. Aggregate Bond ETF) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while ICSH is a Ultrashort Bond fund actively managed by iShares. AGG is passively managed, while ICSH is actively managed. Over the past 10 years, AGG returned 1.52%/yr vs 2.77%/yr for ICSH. At a 0.23 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.08%/yr for ICSH.
Performance
AGG vs. ICSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGG achieves a -0.08% return, which is significantly lower than ICSH's 1.43% return. Over the past 10 years, AGG has underperformed ICSH with an annualized return of 1.52%, while ICSH has yielded a comparatively higher 2.77% 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%
ICSH
- 1D
- 0.02%
- 1M
- 0.18%
- YTD
- 1.43%
- 6M
- 1.75%
- 1Y
- 4.30%
- 3Y*
- 5.15%
- 5Y*
- 3.67%
- 10Y*
- 2.77%
AGG vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.43% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
Correlation
The correlation between AGG and ICSH is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2013 | 0.23 |
Over the past year, AGG and ICSH have become more correlated (0.46) than their long-term average of 0.23, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AGG vs. ICSH — Risk / Return Rank
AGG
ICSH
AGG vs. ICSH - 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 Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.69 | ||
| Sortino ratioReturn per unit of downside risk | -25.42 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 6.56 | -5.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 43.67 | -41.86 |
| Martin ratioReturn relative to average drawdown | 5.44 | 288.81 | -283.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AGG | ICSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 11.01 | -9.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 7.62 | -7.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 2.63 | -2.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 1.93 | -1.34 |
Drawdowns
AGG vs. ICSH - Drawdown Comparison
The maximum AGG drawdown since its inception was -18.43%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for AGG and ICSH.
Loading charts...
Drawdown Indicators
| AGG | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -3.94% | -14.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -0.10% | -2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -0.10% | -6.01% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -0.73% | -17.09% |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | -3.94% | -14.49% |
Current DrawdownCurrent decline from peak | -2.47% | -0.02% | -2.45% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -0.08% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.01% | +0.91% |
Volatility
AGG vs. ICSH - Volatility Comparison
iShares Core U.S. Aggregate Bond ETF (AGG) has a higher volatility of 1.29% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.15%. This indicates that AGG's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGG | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.15% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 0.30% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 0.39% | +3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 0.48% | +5.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 1.06% | +4.35% |
AGG vs. ICSH - Expense Ratio Comparison
AGG has a 0.03% expense ratio, which is lower than ICSH's 0.08% 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%.
Dividends
AGG vs. ICSH - Dividend Comparison
AGG's dividend yield for the trailing twelve months is around 4.00%, less than ICSH's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
Frequently Asked Questions
AGG and ICSH have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.29%) compared to ICSH (0.15%). In terms of maximum drawdown, AGG dropped -18.43% vs ICSH's -3.94%.
On 10-year performance, ICSH leads with 2.77% vs 1.52% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, ICSH has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ICSH has performed better with a 2.77% 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 0.08% for ICSH.
ICSH has the higher dividend yield at 4.34%, compared with 4.00% for AGG.
AGG is categorized as Total Bond Market, while ICSH is Ultrashort Bond. Their fees differ too: 0.03% for AGG and 0.08% for ICSH.
ICSH currently has the higher Sharpe Ratio (11.01 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.
Find the right allocation for AGG and ICSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer