ARBNX vs. AGG
ARBNX (The Arbitrage Fund Class Institutional) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - ARBNX is a Event Driven fund managed by Arbitrage Funds, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 10 years, ARBNX returned 3.48%/yr vs 1.57%/yr for AGG. At a correlation of -0.03, they often move in opposite directions. ARBNX charges 1.49%/yr vs 0.03%/yr for AGG.
Performance
ARBNX vs. AGG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ARBNX achieves a 1.21% return, which is significantly higher than AGG's 0.25% return. Over the past 10 years, ARBNX has outperformed AGG with an annualized return of 3.48%, while AGG has yielded a comparatively lower 1.57% annualized return.
ARBNX
- 1D
- 0.07%
- 1M
- 0.21%
- YTD
- 1.21%
- 6M
- 1.86%
- 1Y
- 6.43%
- 3Y*
- 6.73%
- 5Y*
- 3.10%
- 10Y*
- 3.48%
AGG
- 1D
- -0.21%
- 1M
- 0.24%
- YTD
- 0.25%
- 6M
- 0.09%
- 1Y
- 5.14%
- 3Y*
- 3.95%
- 5Y*
- 0.10%
- 10Y*
- 1.57%
ARBNX vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARBNX The Arbitrage Fund Class Institutional | 1.21% | 8.29% | 2.95% | 6.05% | -0.67% | 1.05% | 5.71% | 3.84% | 2.33% | 2.87% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.25% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between ARBNX and AGG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2003 | -0.03 |
The correlation between ARBNX and AGG shifts across timeframes, from -0.03 (all time) to 0.30 (1 year), 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
ARBNX vs. AGG — Risk / Return Rank
ARBNX
AGG
ARBNX vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Arbitrage Fund Class Institutional (ARBNX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| ARBNX | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +4.35 | ||
| Omega ratioGain probability vs. loss probability | 1.84 | 1.24 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 7.20 | 1.87 | +5.33 |
| Martin ratioReturn relative to average drawdown | 34.43 | 5.73 | +28.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ARBNX | AGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.56 | 1.34 | +2.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.02 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.29 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.59 | -0.01 |
Drawdowns
ARBNX vs. AGG - Drawdown Comparison
The maximum ARBNX drawdown since its inception was -14.42%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for ARBNX and AGG.
Loading charts...
Drawdown Indicators
| ARBNX | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.42% | -18.43% | +4.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.92% | -2.76% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -2.24% | -6.11% | +3.87% |
Max Drawdown (5Y)Largest decline over 5 years | -7.44% | -17.82% | +10.38% |
Max Drawdown (10Y)Largest decline over 10 years | -11.90% | -18.43% | +6.53% |
Current DrawdownCurrent decline from peak | -0.07% | -2.14% | +2.07% |
Average DrawdownAverage peak-to-trough decline | -1.22% | -2.71% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.90% | -0.71% |
Volatility
ARBNX vs. AGG - Volatility Comparison
The current volatility for The Arbitrage Fund Class Institutional (ARBNX) is 0.29%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.30%. This indicates that ARBNX experiences smaller price fluctuations and is considered to be less risky than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ARBNX | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.29% | 1.30% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | 2.74% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 3.85% | -1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.63% | 6.09% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 5.40% | -0.98% |
ARBNX vs. AGG - Expense Ratio Comparison
ARBNX has a 1.49% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
ARBNX vs. AGG - Dividend Comparison
ARBNX's dividend yield for the trailing twelve months is around 3.68%, less than AGG's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.99% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
ARBNX The Arbitrage Fund Class Institutional | 3.68% | 3.72% | 1.18% | 2.11% | 3.85% | 0.51% | 6.70% | 2.12% | 1.93% | 3.80% | 0.93% | 2.30% |
Frequently Asked Questions
ARBNX and AGG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.30%) compared to ARBNX (0.29%). In terms of maximum drawdown, ARBNX dropped -14.42% vs AGG's -18.43%.
ARBNX currently has the higher Sharpe Ratio (3.56 vs 1.34), 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 ARBNX and AGG
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