AGG vs. MSFRX

Last updated Jun 9, 2026

AGG (iShares Core U.S. Aggregate Bond ETF) and MSFRX (MFS Total Return Fund) are both funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while MSFRX is a Diversified Portfolio fund managed by MFS. Over the past 10 years, AGG returned 1.52%/yr vs 7.96%/yr for MSFRX. At a 0.02 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.72%/yr for MSFRX.

Performance

AGG vs. MSFRX - Performance Comparison

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

Returns By Period

In the year-to-date period, AGG achieves a -0.08% return, which is significantly lower than MSFRX's 3.29% return. Over the past 10 years, AGG has underperformed MSFRX with an annualized return of 1.52%, while MSFRX has yielded a comparatively higher 7.96% 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%

MSFRX

• 1D: -0.20%
• 1M: 1.08%
• YTD: 3.29%
• 6M: 4.86%
• 1Y: 11.70%
• 3Y*: 12.50%
• 5Y*: 6.28%
• 10Y*: 7.96%

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

AGG vs. MSFRX - 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%
MSFRX MFS Total Return Fund	3.29%	10.98%	14.73%	10.34%	-9.70%	14.00%	9.72%	20.20%	-5.80%	12.18%

Correlation

The correlation between AGG and MSFRX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Sep 29, 2003	0.02

Over the past year, AGG and MSFRX have become more correlated (0.45) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

AGG vs. MSFRX — Risk / Return Rank

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

AGG

AGG Risk / Return Rank: 40
AGG Sharpe Ratio Rank: 41
AGG Sortino Ratio Rank: 42
AGG Omega Ratio Rank: 39
AGG Calmar Ratio Rank: 40
AGG Martin Ratio Rank: 38

MSFRX

MSFRX Risk / Return Rank: 42
MSFRX Sharpe Ratio Rank: 42
MSFRX Sortino Ratio Rank: 47
MSFRX Omega Ratio Rank: 41
MSFRX Calmar Ratio Rank: 46
MSFRX Martin Ratio Rank: 34

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. MSFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and MFS Total Return Fund (MSFRX). 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	MSFRX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.79	-0.48
Sortino ratio: Return per unit of downside risk	1.94	2.72	-0.77
Omega ratio: Gain probability vs. loss probability	1.23	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	1.81	2.45	-0.65
Martin ratio: Return relative to average drawdown	5.44	7.28	-1.84
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. MSFRX - Sharpe Ratio Comparison

The current AGG Sharpe Ratio is 1.32, which is comparable to the MSFRX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of AGG and MSFRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AGG	MSFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.79	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	0.65	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.76	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.65	-0.06

Drawdowns

AGG vs. MSFRX - Drawdown Comparison

The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum MSFRX drawdown of -37.28%. Use the drawdown chart below to compare losses from any high point for AGG and MSFRX.

Drawdown Indicators

	AGG	MSFRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.43%	-37.28%	+18.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-4.96%	+2.20%
Max Drawdown (3Y) Largest decline over 3 years	-6.11%	-8.56%	+2.45%
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	-17.02%	-0.80%
Max Drawdown (10Y) Largest decline over 10 years	-18.43%	-24.70%	+6.27%
Current Drawdown Current decline from peak	-2.47%	-1.86%	-0.61%
Average Drawdown Average peak-to-trough decline	-2.71%	-5.00%	+2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	1.67%	-0.75%

Volatility

AGG vs. MSFRX - Volatility Comparison

The current volatility for iShares Core U.S. Aggregate Bond ETF (AGG) is 1.29%, while MFS Total Return Fund (MSFRX) has a volatility of 1.78%. This indicates that AGG experiences smaller price fluctuations and is considered to be less risky than MSFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGG	MSFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	1.78%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	4.93%	-2.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	6.78%	-2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.09%	9.74%	-3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.41%	10.45%	-5.04%

AGG vs. MSFRX - Expense Ratio Comparison

AGG has a 0.03% expense ratio, which is lower than MSFRX's 0.72% expense ratio.

Dividends

AGG vs. MSFRX - Dividend Comparison

AGG's dividend yield for the trailing twelve months is around 4.00%, less than MSFRX's 8.77% 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%
MSFRX MFS Total Return Fund	8.77%	8.93%	14.87%	6.19%	5.38%	8.33%	6.93%	3.22%	4.99%	5.67%	3.54%	5.55%

Frequently Asked Questions

Can I hold both AGG and MSFRX in my portfolio?

AGG and MSFRX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGG or MSFRX?

MSFRX has higher volatility (1.78%) compared to AGG (1.29%). In terms of maximum drawdown, AGG dropped -18.43% vs MSFRX's -37.28%.

Which has better risk-adjusted returns?

MSFRX currently has the higher Sharpe Ratio (1.79 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.