BALT vs. AGG
BALT (Innovator Defined Wealth Shield ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - BALT is a Defined Outcome fund tracking the S&P 500, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 3 years, BALT returned 7.27%/yr vs 3.95%/yr for AGG. At a 0.12 correlation, their price movements are largely independent. BALT charges 0.69%/yr vs 0.03%/yr for AGG.
Performance
BALT vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, BALT achieves a 1.91% return, which is significantly higher than AGG's 0.25% return.
BALT
- 1D
- -0.06%
- 1M
- 0.53%
- YTD
- 1.91%
- 6M
- 2.81%
- 1Y
- 6.95%
- 3Y*
- 7.27%
- 5Y*
- —
- 10Y*
- —
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%
BALT vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BALT Innovator Defined Wealth Shield ETF | 1.91% | 6.65% | 9.98% | 7.45% | 2.54% | 0.82% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.25% | 7.19% | 1.31% | 5.65% | -13.02% | -0.05% |
Correlation
The correlation between BALT and AGG is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021 | 0.12 |
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Return for Risk
BALT vs. AGG — Risk / Return Rank
BALT
AGG
BALT vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) 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.
| BALT | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.24 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 6.05 | 1.87 | +4.19 |
| Martin ratioReturn relative to average drawdown | 22.58 | 5.73 | +16.85 |
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
| BALT | AGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.19 | 1.34 | +1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.02 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.80 | 0.59 | +1.20 |
Drawdowns
BALT vs. AGG - Drawdown Comparison
The maximum BALT drawdown since its inception was -4.89%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for BALT and AGG.
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Drawdown Indicators
| BALT | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.89% | -18.43% | +13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -1.15% | -2.76% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.89% | -6.11% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | -0.06% | -2.14% | +2.08% |
Average DrawdownAverage peak-to-trough decline | -0.34% | -2.71% | +2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 0.90% | -0.59% |
Volatility
BALT vs. AGG - Volatility Comparison
The current volatility for Innovator Defined Wealth Shield ETF (BALT) is 0.37%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.30%. This indicates that BALT 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.
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Volatility by Period
| BALT | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 1.30% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 2.74% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.19% | 3.85% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.32% | 6.09% | -2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 5.40% | -2.08% |
BALT vs. AGG - Expense Ratio Comparison
BALT has a 0.69% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
BALT vs. AGG - Dividend Comparison
BALT has not paid dividends to shareholders, while AGG's dividend yield for the trailing twelve months is around 3.99%.
| 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% |
BALT Innovator Defined Wealth Shield ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BALT and AGG have a correlation of 0.06, 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 BALT (0.37%). In terms of maximum drawdown, BALT dropped -4.89% vs AGG's -18.43%.
On 3-year performance, BALT leads with 7.27% vs 3.95% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, BALT has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BALT has performed better with a 7.27% return vs 3.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.69% for BALT.
AGG has the higher dividend yield at 3.99%, compared with 0.00% for BALT.
BALT is categorized as Defined Outcome, while AGG is Total Bond Market. BALT tracks S&P 500, while AGG tracks Bloomberg U.S. Aggregate Bond Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.69% for BALT and 0.03% for AGG.
BALT currently has the higher Sharpe Ratio (3.19 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.
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