AGZ vs. BNDD
AGZ (iShares Agency Bond ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. AGZ is passively managed, while BNDD is actively managed. Over the past 3 years, AGZ returned 4.10%/yr vs -3.91%/yr for BNDD. At a 0.36 correlation, their price movements are largely independent. AGZ charges 0.20%/yr vs 1.02%/yr for BNDD.
Performance
AGZ vs. BNDD - Performance Comparison
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Returns By Period
In the year-to-date period, AGZ achieves a 0.16% return, which is significantly lower than BNDD's 4.32% return.
AGZ
- 1D
- -0.13%
- 1M
- -0.03%
- YTD
- 0.16%
- 6M
- 0.29%
- 1Y
- 3.95%
- 3Y*
- 4.10%
- 5Y*
- 1.15%
- 10Y*
- 1.83%
BNDD
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.32%
- 6M
- 2.24%
- 1Y
- 3.39%
- 3Y*
- -3.91%
- 5Y*
- —
- 10Y*
- —
AGZ vs. BNDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.16% | 6.05% | 3.08% | 5.18% | -7.77% | -1.11% |
BNDD Quadratic Deflation ETF | 4.32% | -8.17% | -6.65% | 4.02% | -17.48% | 5.54% |
Correlation
The correlation between AGZ and BNDD is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.36 |
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Return for Risk
AGZ vs. BNDD — Risk / Return Rank
AGZ
BNDD
AGZ vs. BNDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and Quadratic Deflation ETF (BNDD). 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.
| AGZ | BNDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.06 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 0.56 | +2.37 |
| Martin ratioReturn relative to average drawdown | 9.76 | 1.20 | +8.56 |
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
| AGZ | BNDD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 0.32 | +1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | -0.33 | +1.01 |
Drawdowns
AGZ vs. BNDD - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for AGZ and BNDD.
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Drawdown Indicators
| AGZ | BNDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -30.87% | +19.86% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -6.09% | +4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -20.75% | +18.90% |
Max Drawdown (5Y)Largest decline over 5 years | -10.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | — | — |
Current DrawdownCurrent decline from peak | -0.78% | -26.51% | +25.73% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -19.34% | +17.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 2.83% | -2.42% |
Volatility
AGZ vs. BNDD - Volatility Comparison
The current volatility for iShares Agency Bond ETF (AGZ) is 0.76%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.21%. This indicates that AGZ experiences smaller price fluctuations and is considered to be less risky than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGZ | BNDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 2.21% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 8.11% | -6.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 10.59% | -8.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 13.38% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 13.38% | -10.35% |
AGZ vs. BNDD - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is lower than BNDD's 1.02% expense ratio.
Dividends
AGZ vs. BNDD - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.73%, more than BNDD's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.73% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
BNDD Quadratic Deflation ETF | 3.61% | 3.82% | 3.85% | 4.30% | 43.17% | 1.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGZ and BNDD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDD has higher volatility (2.21%) compared to AGZ (0.76%). In terms of maximum drawdown, AGZ dropped -11.01% vs BNDD's -30.87%.
On 3-year performance, AGZ leads with 4.10% vs -3.91% for BNDD. On fees, AGZ is cheaper at 0.20% per year. On volatility, AGZ has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AGZ has performed better with a 4.10% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGZ is cheaper with a 0.20% expense ratio, compared with 1.02% for BNDD.
AGZ has the higher dividend yield at 3.73%, compared with 3.61% for BNDD.
They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.20% for AGZ and 1.02% for BNDD.
AGZ currently has the higher Sharpe Ratio (1.54 vs 0.32), 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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