AGZ vs. IVV
AGZ (iShares Agency Bond ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - AGZ is a Government Bonds fund tracking the Bloomberg U.S. Agency Bond Index (USD), while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, AGZ returned 1.83%/yr vs 15.54%/yr for IVV. At a correlation of -0.16, they often move in opposite directions. AGZ charges 0.20%/yr vs 0.03%/yr for IVV.
Performance
AGZ vs. IVV - 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 IVV's 10.85% return. Over the past 10 years, AGZ has underperformed IVV with an annualized return of 1.83%, while IVV has yielded a comparatively higher 15.54% annualized 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%
IVV
- 1D
- -0.76%
- 1M
- 4.97%
- YTD
- 10.85%
- 6M
- 10.87%
- 1Y
- 28.00%
- 3Y*
- 22.43%
- 5Y*
- 13.88%
- 10Y*
- 15.54%
AGZ vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.16% | 6.05% | 3.08% | 5.18% | -7.77% | -1.05% | 5.77% | 5.51% | 1.32% | 2.01% |
IVV iShares Core S&P 500 ETF | 10.85% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between AGZ and IVV is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2008 | -0.16 |
The correlation between AGZ and IVV shifts across timeframes, from -0.16 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGZ vs. IVV — Risk / Return Rank
AGZ
IVV
AGZ vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and iShares Core S&P 500 ETF (IVV). 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 | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.43 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 3.17 | -0.23 |
| Martin ratioReturn relative to average drawdown | 9.76 | 14.71 | -4.94 |
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 | IVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 2.39 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.83 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.86 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.45 | +0.23 |
Drawdowns
AGZ vs. IVV - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for AGZ and IVV.
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Drawdown Indicators
| AGZ | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -55.25% | +44.24% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -8.89% | +7.54% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -18.75% | +16.90% |
Max Drawdown (5Y)Largest decline over 5 years | -10.66% | -24.53% | +13.87% |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | -33.90% | +22.89% |
Current DrawdownCurrent decline from peak | -0.78% | -0.76% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -10.78% | +9.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.91% | -1.50% |
Volatility
AGZ vs. IVV - Volatility Comparison
The current volatility for iShares Agency Bond ETF (AGZ) is 0.76%, while iShares Core S&P 500 ETF (IVV) has a volatility of 2.87%. This indicates that AGZ experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGZ | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 2.87% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 8.90% | -6.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 11.80% | -9.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 16.88% | -13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 18.05% | -15.02% |
AGZ vs. IVV - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is higher than IVV's 0.03% expense ratio. However, 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. IVV - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.73%, more than IVV's 1.06% 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% |
IVV iShares Core S&P 500 ETF | 1.06% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
AGZ and IVV have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (2.87%) compared to AGZ (0.76%). In terms of maximum drawdown, AGZ dropped -11.01% vs IVV's -55.25%.
On 10-year performance, IVV leads with 15.54% vs 1.83% for AGZ. On fees, IVV is cheaper at 0.03% 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 10-year period, IVV has performed better with a 15.54% return vs 1.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 0.20% for AGZ.
AGZ has the higher dividend yield at 3.73%, compared with 1.06% for IVV.
AGZ is categorized as Government Bonds, while IVV is S&P 500. AGZ tracks Bloomberg U.S. Agency Bond Index (USD), while IVV tracks S&P 500 Index. Their fees differ too: 0.20% for AGZ and 0.03% for IVV.
IVV currently has the higher Sharpe Ratio (2.39 vs 1.54), 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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