AGRH vs. AAA
Compare and contrast key facts about iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) and AAF First Priority CLO Bond ETF (AAA).
AGRH and AAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGRH is a passively managed fund by iShares that tracks the performance of the BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross. It was launched on Jun 22, 2022. AAA is an actively managed fund by Alternative Access Funds LLC. It was launched on Sep 9, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AGRH or AAA.
Key characteristics
| AGRH | AAA | |
|---|---|---|
| YTD Return | 4.47% | 4.83% |
| 1Y Return | 6.41% | 7.54% |
| Sharpe Ratio | 3.71 | 3.95 |
| Daily Std Dev | 1.75% | 1.95% |
| Max Drawdown | -1.50% | -2.64% |
| Current Drawdown | 0.00% | -0.02% |
Correlation
The correlation between AGRH and AAA is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
AGRH vs. AAA - Performance Comparison
In the year-to-date period, AGRH achieves a 4.47% return, which is significantly lower than AAA's 4.83% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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AGRH vs. AAA - Expense Ratio Comparison
AGRH has a 0.13% expense ratio, which is lower than AAA's 0.25% 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%.
Risk-Adjusted Performance
AGRH vs. AAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) and AAF First Priority CLO Bond ETF (AAA). 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.
Dividends
AGRH vs. AAA - Dividend Comparison
AGRH's dividend yield for the trailing twelve months is around 5.21%, less than AAA's 6.32% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 5.21% | 4.69% | 1.24% | 0.00% | 0.00% |
AAA AAF First Priority CLO Bond ETF | 6.32% | 6.11% | 2.78% | 1.05% | 0.32% |
Drawdowns
AGRH vs. AAA - Drawdown Comparison
The maximum AGRH drawdown since its inception was -1.50%, smaller than the maximum AAA drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for AGRH and AAA. For additional features, visit the drawdowns tool.
Volatility
AGRH vs. AAA - Volatility Comparison
The current volatility for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) is 0.43%, while AAF First Priority CLO Bond ETF (AAA) has a volatility of 0.61%. This indicates that AGRH experiences smaller price fluctuations and is considered to be less risky than AAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.