AGRH vs. BIL
AGRH (iShares Interest Rate Hedged U.S. Aggregate Bond ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - AGRH is a Ultrashort Bond fund tracking the BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 3 years, AGRH returned 5.97%/yr vs 4.64%/yr for BIL. At a 0.06 correlation, their price movements are largely independent. AGRH charges 0.13%/yr vs 0.14%/yr for BIL.
Performance
AGRH vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, AGRH achieves a 1.78% return, which is significantly higher than BIL's 1.49% return.
AGRH
- 1D
- -0.04%
- 1M
- 0.73%
- YTD
- 1.78%
- 6M
- 2.44%
- 1Y
- 6.30%
- 3Y*
- 5.97%
- 5Y*
- —
- 10Y*
- —
BIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.49%
- 6M
- 1.77%
- 1Y
- 3.87%
- 3Y*
- 4.64%
- 5Y*
- 3.41%
- 10Y*
- 2.18%
AGRH vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 1.78% | 6.00% | 5.93% | 6.40% | 1.76% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.49% | 4.15% | 5.19% | 4.94% | 1.32% |
Correlation
The correlation between AGRH and BIL is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022 | 0.06 |
The correlation between AGRH and BIL shifts across timeframes, from -0.03 (1 year) to 0.07 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
AGRH vs. BIL — Risk / Return Rank
AGRH
BIL
AGRH vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.
| AGRH | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.30 | ||
| Sortino ratioReturn per unit of downside risk | -166.49 | ||
| Omega ratioGain probability vs. loss probability | 2.12 | 87.91 | -85.79 |
| Calmar ratioReturn relative to maximum drawdown | 9.44 | 355.35 | -345.92 |
| Martin ratioReturn relative to average drawdown | 44.94 | 2,817.77 | -2,772.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGRH | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.41 | 19.71 | -15.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 13.16 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.13 | 2.78 | +0.35 |
Drawdowns
AGRH vs. BIL - Drawdown Comparison
The maximum AGRH drawdown since its inception was -1.73%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for AGRH and BIL.
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Drawdown Indicators
| AGRH | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -0.78% | -0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -0.01% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -1.73% | -0.01% | -1.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.10% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.21% | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.26% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 0.00% | +0.14% |
Volatility
AGRH vs. BIL - Volatility Comparison
iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) has a higher volatility of 0.43% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.05%. This indicates that AGRH's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGRH | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 0.05% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 0.13% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 0.20% | +1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 0.26% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 0.26% | +1.52% |
AGRH vs. BIL - Expense Ratio Comparison
AGRH has a 0.13% expense ratio, which is lower than BIL's 0.14% 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%.
Dividends
AGRH vs. BIL - Dividend Comparison
AGRH's dividend yield for the trailing twelve months is around 4.18%, more than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 4.18% | 4.63% | 5.17% | 4.69% | 1.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.86% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% |
Frequently Asked Questions
AGRH and BIL have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGRH has higher volatility (0.43%) compared to BIL (0.05%). In terms of maximum drawdown, AGRH dropped -1.73% vs BIL's -0.78%.
On 3-year performance, AGRH leads with 5.97% vs 4.64% for BIL. On fees, AGRH is cheaper at 0.13% per year. On volatility, BIL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AGRH has performed better with a 5.97% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGRH is cheaper with a 0.13% expense ratio, compared with 0.14% for BIL.
AGRH has the higher dividend yield at 4.18%, compared with 3.86% for BIL.
AGRH is categorized as Ultrashort Bond, while BIL is Government Bonds. AGRH tracks BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.13% for AGRH and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.71 vs 4.41), 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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