AGZ vs. IBIT
AGZ (iShares Agency Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - AGZ is a Government Bonds fund tracking the Bloomberg U.S. Agency Bond Index (USD), while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, AGZ returned 2.32% vs -44.50% for IBIT. Their 0.01 correlation means their historical movements had little consistent relationship. AGZ charges 0.20%/yr vs 0.25%/yr for IBIT.
Performance
AGZ vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, AGZ achieves a 0.14% return, which is significantly higher than IBIT's -28.22% return.
AGZ
- 1D
- -0.12%
- 1M
- -0.37%
- 6M
- 0.06%
- YTD
- 0.14%
- 1Y
- 2.32%
- 3Y*
- 4.20%
- 5Y*
- 0.97%
- 10Y*
- 1.74%
- ALL TIME*
- 2.35%
IBIT
- 1D
- -2.89%
- 1M
- 2.21%
- 6M
- -24.95%
- YTD
- -28.22%
- 1Y
- -44.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57M | $1.51M | $1.37M | |
| $1.30B | $1.34B | $1.68B |
AGZ vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.14% | 6.05% | 3.37% |
IBIT iShares Bitcoin Trust ETF | -28.22% | -6.41% | 89.87% |
Correlation
The correlation between AGZ and IBIT is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.01 |
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Return for Risk
AGZ vs. IBIT — Risk / Return Rank
AGZ
IBIT
AGZ vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and iShares Bitcoin Trust ETF (IBIT). 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.
| AGZ | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.83 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | -0.87 | +3.08 |
| Martin ratioReturn relative to average drawdown | 6.46 | -1.34 | +7.79 |
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Drawdowns
AGZ vs. IBIT - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for AGZ and IBIT.
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Drawdown Indicators
| AGZ | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -53.30% | +42.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -53.30% | +51.95% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | — | — |
Current DrawdownCurrent decline from peak | -0.81% | -50.01% | +49.20% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -18.24% | +16.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 34.66% | -34.20% |
Volatility
AGZ vs. IBIT - Volatility Comparison
The current volatility for iShares Agency Bond ETF (AGZ) is 0.66%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.21%. This indicates that AGZ experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGZ | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 9.21% | -8.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.01% | 33.74% | -31.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.54% | 44.46% | -41.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 49.60% | -46.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 49.60% | -46.57% |
AGZ vs. IBIT - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is lower than IBIT'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%.
Dividends
AGZ vs. IBIT - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.72%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.39% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGZ and IBIT have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.21%) compared to AGZ (0.66%). In terms of maximum drawdown, AGZ dropped -11.01% vs IBIT's -53.30%.
On 1-year performance, AGZ leads with 2.32% vs -44.50% for IBIT. On fees, AGZ is cheaper at 0.20% per year. On volatility, AGZ has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AGZ has performed better with a 2.32% return vs -44.50%. 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 0.25% for IBIT.
AGZ has the higher dividend yield at 3.39%, compared with 0.00% for IBIT.
AGZ is categorized as Government Bonds, while IBIT is Cryptocurrency. AGZ tracks Bloomberg U.S. Agency Bond Index (USD), while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.20% for AGZ and 0.25% for IBIT.
AGZ currently has the higher Sharpe Ratio (1.17 vs -1.04), 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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