AGRH vs. TLT
AGRH (iShares Interest Rate Hedged U.S. Aggregate Bond ETF) and TLT (iShares 20+ Year Treasury Bond 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 TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 3 years, AGRH returned 5.92%/yr vs -1.67%/yr for TLT. At a 0.27 correlation, their price movements are largely independent. AGRH charges 0.13%/yr vs 0.15%/yr for TLT.
Performance
AGRH vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGRH achieves a 1.78% return, which is significantly higher than TLT's -0.05% return.
AGRH
- 1D
- 0.00%
- 1M
- 0.58%
- YTD
- 1.78%
- 6M
- 2.46%
- 1Y
- 6.24%
- 3Y*
- 5.92%
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- 0.22%
- 1M
- 0.48%
- YTD
- -0.05%
- 6M
- -1.27%
- 1Y
- 3.48%
- 3Y*
- -1.67%
- 5Y*
- -6.27%
- 10Y*
- -1.56%
AGRH vs. TLT - 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% |
TLT iShares 20+ Year Treasury Bond ETF | -0.05% | 4.25% | -8.05% | 2.77% | -10.16% |
Correlation
The correlation between AGRH and TLT is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022 | 0.27 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AGRH vs. TLT — Risk / Return Rank
AGRH
TLT
AGRH vs. TLT - 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 iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.01 | ||
| Sortino ratioReturn per unit of downside risk | +7.01 | ||
| Omega ratioGain probability vs. loss probability | 2.11 | 1.07 | +1.04 |
| Calmar ratioReturn relative to maximum drawdown | 9.35 | 0.46 | +8.88 |
| Martin ratioReturn relative to average drawdown | 44.47 | 1.14 | +43.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AGRH | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.37 | 0.36 | +4.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.40 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.13 | 0.26 | +2.87 |
Drawdowns
AGRH vs. TLT - Drawdown Comparison
The maximum AGRH drawdown since its inception was -1.73%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for AGRH and TLT.
Loading charts...
Drawdown Indicators
| AGRH | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -48.35% | +46.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -7.58% | +6.91% |
Max Drawdown (3Y)Largest decline over 3 years | -1.73% | -19.18% | +17.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.07% | -40.31% | +40.24% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -13.82% | +13.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 3.05% | -2.91% |
Volatility
AGRH vs. TLT - Volatility Comparison
The current volatility for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) is 0.41%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.71%. This indicates that AGRH experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGRH | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 2.71% | -2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 6.50% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.43% | 9.77% | -8.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 15.86% | -14.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 14.90% | -13.12% |
AGRH vs. TLT - Expense Ratio Comparison
AGRH has a 0.13% expense ratio, which is lower than TLT's 0.15% 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. TLT - Dividend Comparison
AGRH's dividend yield for the trailing twelve months is around 4.18%, less than TLT's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.58% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
AGRH and TLT have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.71%) compared to AGRH (0.41%). In terms of maximum drawdown, AGRH dropped -1.73% vs TLT's -48.35%.
On 3-year performance, AGRH leads with 5.92% vs -1.67% for TLT. On fees, AGRH is cheaper at 0.13% per year. On volatility, AGRH has been the lower-risk option at 0.41%. 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 5.92% return vs -1.67%. 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 0.15% for TLT.
TLT has the higher dividend yield at 4.58%, compared with 4.18% for AGRH.
AGRH is categorized as Ultrashort Bond, while TLT is Government Bonds. AGRH tracks BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.13% for AGRH and 0.15% for TLT.
AGRH currently has the higher Sharpe Ratio (4.37 vs 0.36), 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.
Find the right allocation for AGRH and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer