AGZ vs. XONE
AGZ (iShares Agency Bond ETF) and XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) are both Government Bonds funds - AGZ tracks the Bloomberg U.S. Agency Bond Index (USD) while XONE tracks the Bloomberg US Treasury 1 Year Target Duration Index. Both are passively managed. Over the past 3 years, AGZ returned 4.10%/yr vs 4.57%/yr for XONE. A 0.67 correlation means they provide meaningful diversification when combined. AGZ charges 0.20%/yr vs 0.03%/yr for XONE.
Performance
AGZ vs. XONE - 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 XONE's 1.11% 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%
XONE
- 1D
- -0.02%
- 1M
- 0.24%
- YTD
- 1.11%
- 6M
- 1.47%
- 1Y
- 3.85%
- 3Y*
- 4.57%
- 5Y*
- —
- 10Y*
- —
AGZ vs. XONE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.16% | 6.05% | 3.08% | 5.18% | -0.59% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.11% | 4.41% | 4.83% | 4.74% | 0.60% |
Correlation
The correlation between AGZ and XONE is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.67 |
The correlation between AGZ and XONE shifts across timeframes, from 0.52 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AGZ vs. XONE — Risk / Return Rank
AGZ
XONE
AGZ vs. XONE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE). 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 | XONE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.52 | ||
| Sortino ratioReturn per unit of downside risk | -14.62 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 3.57 | -2.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 24.16 | -21.22 |
| Martin ratioReturn relative to average drawdown | 9.76 | 138.74 | -128.97 |
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 | XONE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 7.06 | -5.52 |
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 | 4.96 | -4.28 |
Drawdowns
AGZ vs. XONE - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, which is greater than XONE's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for AGZ and XONE.
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Drawdown Indicators
| AGZ | XONE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -0.40% | -10.61% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -0.16% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -0.28% | -1.57% |
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% | -0.02% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -0.04% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.03% | +0.38% |
Volatility
AGZ vs. XONE - Volatility Comparison
iShares Agency Bond ETF (AGZ) has a higher volatility of 0.76% compared to BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) at 0.10%. This indicates that AGZ's price experiences larger fluctuations and is considered to be riskier than XONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGZ | XONE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.10% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 0.34% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 0.55% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 0.86% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 0.86% | +2.17% |
AGZ vs. XONE - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is higher than XONE'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. XONE - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.73%, less than XONE's 4.06% 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% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 4.06% | 4.33% | 5.21% | 4.46% | 1.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGZ and XONE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGZ has higher volatility (0.76%) compared to XONE (0.10%). In terms of maximum drawdown, AGZ dropped -11.01% vs XONE's -0.40%.
On 3-year performance, XONE leads with 4.57% vs 4.10% for AGZ. On fees, XONE is cheaper at 0.03% per year. On volatility, XONE has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XONE has performed better with a 4.57% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XONE is cheaper with a 0.03% expense ratio, compared with 0.20% for AGZ.
XONE has the higher dividend yield at 4.06%, compared with 3.73% for AGZ.
AGZ tracks Bloomberg U.S. Agency Bond Index (USD), while XONE tracks Bloomberg US Treasury 1 Year Target Duration Index. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.20% for AGZ and 0.03% for XONE.
XONE currently has the higher Sharpe Ratio (7.06 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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