AGGY vs. PGHY
AGGY (WisdomTree Yield Enhanced U.S. Aggregate Bond Fund) and PGHY (Invesco Global Short Term High Yield Bond ETF) are both exchange-traded funds - AGGY is a Intermediate Core Bond fund tracking the Bloomberg US Aggregate Yield Enhanced, while PGHY is a High Yield Bonds fund tracking the DB Global Short Maturity High Yield Bond Index. Both are passively managed. Over the past 10 years, AGGY returned 1.41%/yr vs 4.14%/yr for PGHY. Their 0.20 correlation means their historical movements had little consistent relationship. AGGY charges 0.12%/yr vs 0.35%/yr for PGHY.
Performance
AGGY vs. PGHY - Performance Comparison
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Returns By Period
In the year-to-date period, AGGY achieves a -0.77% return, which is significantly lower than PGHY's 2.42% return. Over the past 10 years, AGGY has underperformed PGHY with an annualized return of 1.41%, while PGHY has yielded a comparatively higher 4.14% annualized return.
AGGY
- 1D
- -0.20%
- 1M
- -1.65%
- 6M
- -0.95%
- YTD
- -0.77%
- 1Y
- 1.88%
- 3Y*
- 4.38%
- 5Y*
- -0.54%
- 10Y*
- 1.41%
- ALL TIME*
- 1.89%
PGHY
- 1D
- -0.15%
- 1M
- -0.54%
- 6M
- 1.38%
- YTD
- 2.42%
- 1Y
- 5.54%
- 3Y*
- 8.37%
- 5Y*
- 4.66%
- 10Y*
- 4.14%
- ALL TIME*
- 4.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.13M | $5.22M | $4.97M | |
| $921.90K | $935.56K | $975.15K |
AGGY vs. PGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGGY WisdomTree Yield Enhanced U.S. Aggregate Bond Fund | -0.77% | 7.38% | 1.82% | 7.29% | -15.26% | -1.72% | 5.87% | 11.77% | -1.70% | 5.20% |
PGHY Invesco Global Short Term High Yield Bond ETF | 2.42% | 8.88% | 8.39% | 10.15% | -5.50% | 1.22% | 3.04% | 5.87% | 0.38% | 2.97% |
Correlation
The correlation between AGGY and PGHY is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015 | 0.20 |
Over the past year, AGGY and PGHY have become more correlated (0.41) than their long-term average of 0.20, meaning their price movements have been converging.
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Return for Risk
AGGY vs. PGHY — Risk / Return Rank
AGGY
PGHY
AGGY vs. PGHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) and Invesco Global Short Term High Yield Bond ETF (PGHY). 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.
| AGGY | PGHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.21 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 1.88 | -0.91 |
| Martin ratioReturn relative to average drawdown | 2.44 | 7.15 | -4.71 |
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Drawdowns
AGGY vs. PGHY - Drawdown Comparison
The maximum AGGY drawdown since its inception was -20.98%, roughly equal to the maximum PGHY drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for AGGY and PGHY.
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Drawdown Indicators
| AGGY | PGHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.98% | -20.50% | -0.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -3.04% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -4.78% | -5.03% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -20.60% | -9.38% | -11.22% |
Max Drawdown (10Y)Largest decline over 10 years | -20.98% | -20.50% | -0.48% |
Current DrawdownCurrent decline from peak | -3.48% | -0.67% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -1.63% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.80% | +0.32% |
Volatility
AGGY vs. PGHY - Volatility Comparison
WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) has a higher volatility of 1.14% compared to Invesco Global Short Term High Yield Bond ETF (PGHY) at 0.63%. This indicates that AGGY's price experiences larger fluctuations and is considered to be riskier than PGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGGY | PGHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.63% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 3.86% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 4.99% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 5.49% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 7.00% | -1.50% |
AGGY vs. PGHY - Expense Ratio Comparison
AGGY has a 0.12% expense ratio, which is lower than PGHY's 0.35% expense ratio.
Dividends
AGGY vs. PGHY - Dividend Comparison
AGGY's dividend yield for the trailing twelve months is around 4.59%, less than PGHY's 7.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGGY WisdomTree Yield Enhanced U.S. Aggregate Bond Fund | 4.59% | 4.48% | 4.38% | 3.78% | 2.77% | 2.10% | 2.96% | 3.02% | 3.36% | 2.78% | 3.19% | 1.27% |
PGHY Invesco Global Short Term High Yield Bond ETF | 7.16% | 7.24% | 7.49% | 7.87% | 5.12% | 5.17% | 5.45% | 5.32% | 5.45% | 5.52% | 6.26% | 4.60% |
Frequently Asked Questions
AGGY and PGHY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGGY has higher volatility (1.14%) compared to PGHY (0.63%). In terms of maximum drawdown, AGGY dropped -20.98% vs PGHY's -20.50%.
On 10-year performance, PGHY leads with 4.14% vs 1.41% for AGGY. On fees, AGGY is cheaper at 0.12% per year. On volatility, PGHY has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PGHY has performed better with a 4.14% return vs 1.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGGY is cheaper with a 0.12% expense ratio, compared with 0.35% for PGHY.
PGHY has the higher dividend yield at 7.16%, compared with 4.59% for AGGY.
AGGY is categorized as Intermediate Core Bond, while PGHY is High Yield Bonds. AGGY tracks Bloomberg US Aggregate Yield Enhanced, while PGHY tracks DB Global Short Maturity High Yield Bond Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.12% for AGGY and 0.35% for PGHY.
PGHY currently has the higher Sharpe Ratio (1.15 vs 0.66), 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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