AGZ vs. PIT
AGZ (iShares Agency Bond ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - AGZ is a Government Bonds fund tracking the Bloomberg U.S. Agency Bond Index (USD), while PIT is a Commodities fund actively managed by VanEck. AGZ is passively managed, while PIT is actively managed. Over the past 3 years, AGZ returned 4.20%/yr vs 18.98%/yr for PIT. At a correlation of -0.12, they often move in opposite directions. AGZ charges 0.20%/yr vs 0.55%/yr for PIT.
Performance
AGZ vs. PIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGZ achieves a 0.40% return, which is significantly lower than PIT's 25.62% return.
AGZ
- 1D
- 0.12%
- 1M
- 0.36%
- YTD
- 0.40%
- 6M
- 0.50%
- 1Y
- 3.50%
- 3Y*
- 4.20%
- 5Y*
- 1.22%
- 10Y*
- 1.80%
PIT
- 1D
- -1.32%
- 1M
- -11.78%
- YTD
- 25.62%
- 6M
- 23.58%
- 1Y
- 39.64%
- 3Y*
- 18.98%
- 5Y*
- —
- 10Y*
- —
AGZ vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.40% | 6.05% | 3.08% | 5.18% | -0.79% |
PIT VanEck Commodity Strategy ETF | 25.62% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between AGZ and PIT is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | -0.12 |
The correlation between AGZ and PIT shifts across timeframes, from -0.28 (1 year) to -0.12 (all time), reflecting how their relationship changes across market environments.
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
AGZ vs. PIT — Risk / Return Rank
AGZ
PIT
AGZ vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.33 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.62 | -0.02 |
| Martin ratioReturn relative to average drawdown | 8.16 | 10.88 | -2.72 |
Loading charts...
Drawdowns
AGZ vs. PIT - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, smaller than the maximum PIT drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for AGZ and PIT.
Loading charts...
Drawdown Indicators
| AGZ | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -15.19% | +4.18% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -15.19% | +13.84% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -15.19% | +13.34% |
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 | -0.55% | -15.19% | +14.64% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -4.08% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 3.66% | -3.23% |
Volatility
AGZ vs. PIT - Volatility Comparison
The current volatility for iShares Agency Bond ETF (AGZ) is 0.67%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.72%. This indicates that AGZ experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGZ | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 4.72% | -4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.95% | 19.40% | -17.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.55% | 21.66% | -19.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 17.50% | -13.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 17.50% | -14.47% |
AGZ vs. PIT - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is lower than PIT's 0.55% expense ratio.
Dividends
AGZ vs. PIT - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.72%, less than PIT's 7.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.72% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
PIT VanEck Commodity Strategy ETF | 7.10% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGZ and PIT have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIT has higher volatility (4.72%) compared to AGZ (0.67%). In terms of maximum drawdown, AGZ dropped -11.01% vs PIT's -15.19%.
On 3-year performance, PIT leads with 18.98% vs 4.20% for AGZ. On fees, AGZ is cheaper at 0.20% per year. On volatility, AGZ has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 18.98% return vs 4.20%. 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 0.55% for PIT.
PIT has the higher dividend yield at 7.10%, compared with 3.72% for AGZ.
AGZ is categorized as Government Bonds, while PIT is Commodities. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.20% for AGZ and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (1.85 vs 1.38), 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 AGZ and PIT
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