AGG vs. JNK
AGG (iShares Core U.S. Aggregate Bond ETF) and JNK (SPDR Barclays High Yield Bond ETF) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while JNK is a High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid Index. Both are passively managed. Over the past 10 years, AGG returned 1.52%/yr vs 4.94%/yr for JNK. At a 0.12 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.40%/yr for JNK.
Performance
AGG vs. JNK - Performance Comparison
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Returns By Period
In the year-to-date period, AGG achieves a -0.08% return, which is significantly lower than JNK's 1.30% return. Over the past 10 years, AGG has underperformed JNK with an annualized return of 1.52%, while JNK has yielded a comparatively higher 4.94% 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%
JNK
- 1D
- 0.07%
- 1M
- -0.21%
- YTD
- 1.30%
- 6M
- 1.95%
- 1Y
- 6.98%
- 3Y*
- 8.46%
- 5Y*
- 3.59%
- 10Y*
- 4.94%
AGG vs. JNK - 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% |
JNK SPDR Barclays High Yield Bond ETF | 1.30% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 6.49% |
Correlation
The correlation between AGG and JNK is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2007 | 0.12 |
Over the past year, AGG and JNK have become more correlated (0.62) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
AGG vs. JNK — Risk / Return Rank
AGG
JNK
AGG vs. JNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and SPDR Barclays High Yield Bond ETF (JNK). 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 | JNK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.35 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.80 | -0.99 |
| Martin ratioReturn relative to average drawdown | 5.44 | 12.30 | -6.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGG | JNK | Difference | |
|---|---|---|---|
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 | 0.48 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.60 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.42 | +0.17 |
Drawdowns
AGG vs. JNK - Drawdown Comparison
The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for AGG and JNK.
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Drawdown Indicators
| AGG | JNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -38.48% | +20.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.51% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -5.02% | -1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -16.67% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | -22.89% | +4.46% |
Current DrawdownCurrent decline from peak | -2.47% | -0.46% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -3.70% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.57% | +0.35% |
Volatility
AGG vs. JNK - Volatility Comparison
iShares Core U.S. Aggregate Bond ETF (AGG) has a higher volatility of 1.29% compared to SPDR Barclays High Yield Bond ETF (JNK) at 1.12%. This indicates that AGG's price experiences larger fluctuations and is considered to be riskier than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGG | JNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.12% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 3.00% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 3.84% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 7.55% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 8.31% | -2.90% |
AGG vs. JNK - Expense Ratio Comparison
AGG has a 0.03% expense ratio, which is lower than JNK's 0.40% expense ratio.
Dividends
AGG vs. JNK - Dividend Comparison
AGG's dividend yield for the trailing twelve months is around 4.00%, less than JNK's 6.64% 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% |
JNK SPDR Barclays High Yield Bond ETF | 6.64% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
Frequently Asked Questions
AGG and JNK have a correlation of 0.62, 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 JNK (1.12%). In terms of maximum drawdown, AGG dropped -18.43% vs JNK's -38.48%.
On 10-year performance, JNK leads with 4.94% vs 1.52% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, JNK has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, JNK has performed better with a 4.94% 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 0.40% for JNK.
JNK has the higher dividend yield at 6.64%, compared with 4.00% for AGG.
AGG is categorized as Total Bond Market, while JNK is High Yield Bonds. AGG tracks Bloomberg U.S. Aggregate Bond Index, while JNK tracks Barclays Capital High Yield Very Liquid Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.03% for AGG and 0.40% for JNK.
JNK 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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