AGGS vs. BNDS

Last updated Aug 2, 2026

AGGS (Harbor Disciplined Bond ETF) and BNDS (Infrastructure Capital Bond Income ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, AGGS returned 2.70% vs 9.23% for BNDS. Their 0.44 correlation means their historical movements had little consistent relationship. AGGS charges 0.35%/yr vs 0.81%/yr for BNDS.

Performance

AGGS vs. BNDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Disciplined Bond ETF (AGGS) and Infrastructure Capital Bond Income ETF (BNDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGGS achieves a -0.29% return, which is significantly lower than BNDS's 4.11% return.

AGGS

• 1D: -0.28%
• 1M: -1.05%
• 6M: -0.52%
• YTD: -0.29%
• 1Y: 2.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.17%

BNDS

• 1D: 0.01%
• 1M: -0.77%
• 6M: 1.77%
• YTD: 4.11%
• 1Y: 9.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AGGS Harbor Disciplined Bond ETF	$31.33K	$29.91K	$33.71K
BNDS Infrastructure Capital Bond Income ETF	$2.24M	$2.01M	$1.56M

AGGS vs. BNDS - Yearly Performance Comparison

	2026 (YTD)	2025
AGGS Harbor Disciplined Bond ETF	-0.29%	8.62%
BNDS Infrastructure Capital Bond Income ETF	4.11%	8.45%

Correlation

The correlation between AGGS and BNDS is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.44

Return for Risk

AGGS vs. BNDS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AGGS

AGGS Risk / Return Rank: 36
AGGS Sharpe Ratio Rank: 38
AGGS Sortino Ratio Rank: 37
AGGS Omega Ratio Rank: 35
AGGS Calmar Ratio Rank: 36
AGGS Martin Ratio Rank: 34

BNDS

BNDS Risk / Return Rank: 88
BNDS Sharpe Ratio Rank: 94
BNDS Sortino Ratio Rank: 94
BNDS Omega Ratio Rank: 94
BNDS Calmar Ratio Rank: 76
BNDS Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AGGS vs. BNDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Disciplined Bond ETF (AGGS) and Infrastructure Capital Bond Income ETF (BNDS). 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.

	AGGS	BNDS	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.55	-1.60
Sortino ratio: Return per unit of downside risk	1.40	3.68	-2.27
Omega ratio: Gain probability vs. loss probability	1.17	1.50	-0.34
Calmar ratio: Return relative to maximum drawdown	1.23	2.66	-1.43
Martin ratio: Return relative to average drawdown	3.18	11.88	-8.69

AGGS vs. BNDS - Sharpe Ratio Comparison

The current AGGS Sharpe Ratio is 0.95, which is lower than the BNDS Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of AGGS and BNDS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGGS vs. BNDS - Drawdown Comparison

The maximum AGGS drawdown since its inception was -4.66%, smaller than the maximum BNDS drawdown of -6.96%. Use the drawdown chart below to compare losses from any high point for AGGS and BNDS.

Drawdown Indicators

	AGGS	BNDS	Difference
Max Drawdown Largest peak-to-trough decline	-4.66%	-6.96%	+2.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-3.45%	+0.61%
Current Drawdown Current decline from peak	-2.04%	-1.08%	-0.96%
Average Drawdown Average peak-to-trough decline	-1.19%	-0.77%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.77%	+0.32%

Volatility

AGGS vs. BNDS - Volatility Comparison

Harbor Disciplined Bond ETF (AGGS) has a higher volatility of 0.97% compared to Infrastructure Capital Bond Income ETF (BNDS) at 0.88%. This indicates that AGGS's price experiences larger fluctuations and is considered to be riskier than BNDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGGS	BNDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	0.88%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	2.81%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	3.59%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.60%	5.09%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.60%	5.09%	-0.49%

AGGS vs. BNDS - Expense Ratio Comparison

AGGS has a 0.35% expense ratio, which is lower than BNDS's 0.81% expense ratio.

Dividends

AGGS vs. BNDS - Dividend Comparison

AGGS's dividend yield for the trailing twelve months is around 5.22%, less than BNDS's 8.11% yield.

Position	TTM	2025	2024
AGGS Harbor Disciplined Bond ETF	4.81%	5.43%	3.38%
BNDS Infrastructure Capital Bond Income ETF	8.11%	7.98%	0.00%

Frequently Asked Questions

Can I hold both AGGS and BNDS in my portfolio?

AGGS and BNDS have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGGS or BNDS?

AGGS has higher volatility (0.97%) compared to BNDS (0.88%). In terms of maximum drawdown, AGGS dropped -4.66% vs BNDS's -6.96%.

Which ETF is better, AGGS or BNDS?

On 1-year performance, BNDS leads with 9.23% vs 2.70% for AGGS. On fees, AGGS is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGGS or BNDS?

Over the 1-year period, BNDS has performed better with a 9.23% return vs 2.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGGS or BNDS?

AGGS is cheaper with a 0.35% expense ratio, compared with 0.81% for BNDS.

Which ETF pays a higher dividend yield, AGGS or BNDS?

BNDS has the higher dividend yield at 8.11%, compared with 4.81% for AGGS.

What is the main difference between AGGS and BNDS?

They also come from different issuers: Harbor and InfraCap. Their fees differ too: 0.35% for AGGS and 0.81% for BNDS.

Which has better risk-adjusted returns?

BNDS currently has the higher Sharpe Ratio (2.55 vs 0.95), 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.