AGZ vs. USFR
AGZ (iShares Agency Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both Government Bonds funds - AGZ tracks the Bloomberg U.S. Agency Bond Index (USD) while USFR tracks the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, AGZ returned 1.84%/yr vs 2.47%/yr for USFR. At a 0.02 correlation, their price movements are largely independent. AGZ charges 0.20%/yr vs 0.15%/yr for USFR.
Performance
AGZ vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, AGZ achieves a 0.29% return, which is significantly lower than USFR's 1.58% return. Over the past 10 years, AGZ has underperformed USFR with an annualized return of 1.84%, while USFR has yielded a comparatively higher 2.47% annualized return.
AGZ
- 1D
- 0.10%
- 1M
- -0.12%
- YTD
- 0.29%
- 6M
- 0.54%
- 1Y
- 4.24%
- 3Y*
- 4.15%
- 5Y*
- 1.20%
- 10Y*
- 1.84%
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.58%
- 6M
- 1.96%
- 1Y
- 3.99%
- 3Y*
- 4.75%
- 5Y*
- 3.67%
- 10Y*
- 2.47%
AGZ vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.29% | 6.05% | 3.08% | 5.18% | -7.77% | -1.05% | 5.77% | 5.51% | 1.32% | 2.01% |
USFR WisdomTree Floating Rate Treasury Fund | 1.58% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between AGZ and USFR is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | 0.02 |
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Return for Risk
AGZ vs. USFR — Risk / Return Rank
AGZ
USFR
AGZ vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.65 | 14.83 | -13.18 |
Sortino ratioReturn per unit of downside risk | 2.51 | 48.59 | -46.08 |
Omega ratioGain probability vs. loss probability | 1.31 | 12.58 | -11.28 |
Calmar ratioReturn relative to maximum drawdown | 2.89 | 203.63 | -200.74 |
Martin ratioReturn relative to average drawdown | 9.73 | 767.72 | -757.99 |
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 | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 14.83 | -13.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 9.27 | -8.93 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 3.07 | -2.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 1.60 | -0.91 |
Drawdowns
AGZ vs. USFR - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for AGZ and USFR.
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Drawdown Indicators
| AGZ | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -1.36% | -9.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -0.02% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -0.06% | -1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -10.66% | -0.18% | -10.48% |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | -0.80% | -10.21% |
Current DrawdownCurrent decline from peak | -0.66% | 0.00% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -0.16% | -1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.01% | +0.39% |
Volatility
AGZ vs. USFR - Volatility Comparison
iShares Agency Bond ETF (AGZ) has a higher volatility of 0.78% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that AGZ's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGZ | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.06% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 0.18% | +1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.60% | 0.27% | +2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 0.40% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 0.81% | +2.22% |
AGZ vs. USFR - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is higher than USFR's 0.15% 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. USFR - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.72%, less than USFR's 3.91% 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% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
AGZ and USFR have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGZ has higher volatility (0.78%) compared to USFR (0.06%). In terms of maximum drawdown, AGZ dropped -11.01% vs USFR's -1.36%.
On 10-year performance, USFR leads with 2.47% vs 1.84% for AGZ. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USFR has performed better with a 2.47% return vs 1.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.20% for AGZ.
USFR has the higher dividend yield at 3.91%, compared with 3.72% for AGZ.
AGZ tracks Bloomberg U.S. Agency Bond Index (USD), while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.20% for AGZ and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.83 vs 1.65), 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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