BBAG vs. AFIX

Last updated Jun 24, 2026

BBAG (JPMorgan BetaBuilders U.S. Aggregate Bond ETF) and AFIX (Allspring Broad Market Core Bond ETF) are both Intermediate Core Bond funds. BBAG is passively managed, while AFIX is actively managed. Over the past year, BBAG returned 4.36% vs 4.87% for AFIX. With a 0.95 correlation, they move nearly in lockstep. BBAG charges 0.03%/yr vs 0.20%/yr for AFIX.

Performance

BBAG vs. AFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) and Allspring Broad Market Core Bond ETF (AFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBAG achieves a 0.46% return, which is significantly lower than AFIX's 0.59% return.

BBAG

• 1D: 0.13%
• 1M: 0.76%
• YTD: 0.46%
• 6M: 0.63%
• 1Y: 4.36%
• 3Y*: 3.91%
• 5Y*: -0.02%
• 10Y*: —

AFIX

• 1D: 0.12%
• 1M: 0.76%
• YTD: 0.59%
• 6M: 0.71%
• 1Y: 4.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBAG vs. AFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	0.46%	7.27%	-1.85%
AFIX Allspring Broad Market Core Bond ETF	0.59%	7.52%	-1.56%

Correlation

The correlation between BBAG and AFIX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.95

The correlation between BBAG and AFIX has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

BBAG vs. AFIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBAG

BBAG Risk / Return Rank: 33
BBAG Sharpe Ratio Rank: 33
BBAG Sortino Ratio Rank: 34
BBAG Omega Ratio Rank: 31
BBAG Calmar Ratio Rank: 33
BBAG Martin Ratio Rank: 32

AFIX

AFIX Risk / Return Rank: 36
AFIX Sharpe Ratio Rank: 37
AFIX Sortino Ratio Rank: 39
AFIX Omega Ratio Rank: 36
AFIX Calmar Ratio Rank: 34
AFIX Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBAG vs. AFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) and Allspring Broad Market Core Bond ETF (AFIX). 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.

	BBAG	AFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.24	-0.12
Sortino ratio: Return per unit of downside risk	1.69	1.87	-0.18
Omega ratio: Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.58	1.58	-0.01
Martin ratio: Return relative to average drawdown	4.42	4.56	-0.14

BBAG vs. AFIX - Sharpe Ratio Comparison

The current BBAG Sharpe Ratio is 1.13, which is comparable to the AFIX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of BBAG and AFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBAG vs. AFIX - Drawdown Comparison

The maximum BBAG drawdown since its inception was -18.73%, which is greater than AFIX's maximum drawdown of -3.33%. Use the drawdown chart below to compare losses from any high point for BBAG and AFIX.

Drawdown Indicators

	BBAG	AFIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.73%	-3.33%	-15.40%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-3.10%	+0.32%
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.06%	—	—
Current Drawdown Current decline from peak	-2.56%	-1.60%	-0.96%
Average Drawdown Average peak-to-trough decline	-6.20%	-0.99%	-5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.07%	-0.08%

Volatility

BBAG vs. AFIX - Volatility Comparison

JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) and Allspring Broad Market Core Bond ETF (AFIX) have volatilities of 1.13% and 1.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBAG	AFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	1.17%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.97%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	3.94%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.93%	4.54%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	4.54%	+1.25%

BBAG vs. AFIX - Expense Ratio Comparison

BBAG has a 0.03% expense ratio, which is lower than AFIX's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBAG vs. AFIX - Dividend Comparison

BBAG's dividend yield for the trailing twelve months is around 4.35%, less than AFIX's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AFIX Allspring Broad Market Core Bond ETF	5.00%	4.94%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	4.35%	4.29%	4.25%	3.60%	2.23%	1.44%	2.26%	2.92%	0.16%

Frequently Asked Questions

Can I hold both BBAG and AFIX in my portfolio?

With a correlation of 0.95, BBAG and AFIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBAG or AFIX?

AFIX has higher volatility (1.17%) compared to BBAG (1.13%). In terms of maximum drawdown, BBAG dropped -18.73% vs AFIX's -3.33%.

Which ETF is better, BBAG or AFIX?

On 1-year performance, AFIX leads with 4.87% vs 4.36% for BBAG. On fees, BBAG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBAG or AFIX?

Over the 1-year period, AFIX has performed better with a 4.87% return vs 4.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBAG or AFIX?

BBAG is cheaper with a 0.03% expense ratio, compared with 0.20% for AFIX.

Which ETF pays a higher dividend yield, BBAG or AFIX?

AFIX has the higher dividend yield at 5.00%, compared with 4.35% for BBAG.

What is the main difference between BBAG and AFIX?

They also come from different issuers: JPMorgan and Allspring. Their fees differ too: 0.03% for BBAG and 0.20% for AFIX.

Which has better risk-adjusted returns?

AFIX currently has the higher Sharpe Ratio (1.24 vs 1.13), 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.