BNDY vs. BBAG

Last updated Jul 8, 2026

BNDY (Horizon Core Bond ETF) and BBAG (JPMorgan BetaBuilders U.S. Aggregate Bond ETF) are both Intermediate Core Bond funds. BNDY is actively managed, while BBAG is passively managed. Over the past year, BNDY returned 6.78% vs 4.08% for BBAG. Their correlation of 0.86 suggests significant overlap in exposure. BNDY charges 0.66%/yr vs 0.03%/yr for BBAG.

Performance

BNDY vs. BBAG - Performance Comparison

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

Returns By Period

In the year-to-date period, BNDY achieves a 0.82% return, which is significantly higher than BBAG's 0.22% return.

BNDY

• 1D: -0.58%
• 1M: 0.56%
• 6M: 0.51%
• YTD: 0.82%
• 1Y: 6.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBAG

• 1D: -0.39%
• 1M: 0.35%
• 6M: 0.26%
• YTD: 0.22%
• 1Y: 4.08%
• 3Y*: 4.39%
• 5Y*: -0.27%
• 10Y*: —

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

BNDY vs. BBAG - Yearly Performance Comparison

	2026 (YTD)	2025
BNDY Horizon Core Bond ETF	0.82%	5.21%
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	0.22%	3.28%

Correlation

The correlation between BNDY and BBAG is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Jul 3, 2025	0.86

The correlation between BNDY and BBAG has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.

Return for Risk

BNDY vs. BBAG — Risk / Return Rank

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

BNDY

BNDY Risk / Return Rank: 45
BNDY Sharpe Ratio Rank: 45
BNDY Sortino Ratio Rank: 46
BNDY Omega Ratio Rank: 45
BNDY Calmar Ratio Rank: 39
BNDY Martin Ratio Rank: 50

BBAG

BBAG Risk / Return Rank: 32
BBAG Sharpe Ratio Rank: 33
BBAG Sortino Ratio Rank: 33
BBAG Omega Ratio Rank: 30
BBAG Calmar Ratio Rank: 33
BBAG Martin Ratio Rank: 32

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.

BNDY vs. BBAG - Risk-Adjusted Trends Comparison

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

	BNDY	BBAG	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.05	+0.29
Sortino ratio: Return per unit of downside risk	1.95	1.57	+0.38
Omega ratio: Gain probability vs. loss probability	1.25	1.19	+0.06
Calmar ratio: Return relative to maximum drawdown	1.73	1.48	+0.26
Martin ratio: Return relative to average drawdown	7.20	4.10	+3.11

BNDY vs. BBAG - Sharpe Ratio Comparison

The current BNDY Sharpe Ratio is 1.34, which is comparable to the BBAG Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of BNDY and BBAG, 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

BNDY vs. BBAG - Drawdown Comparison

The maximum BNDY drawdown since its inception was -3.93%, smaller than the maximum BBAG drawdown of -18.73%. Use the drawdown chart below to compare losses from any high point for BNDY and BBAG.

Drawdown Indicators

	BNDY	BBAG	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-18.73%	+14.80%
Max Drawdown (1Y) Largest decline over 1 year	-3.93%	-2.78%	-1.15%
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	-1.20%	-2.80%	+1.60%
Average Drawdown Average peak-to-trough decline	-0.65%	-6.18%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.00%	-0.06%

Volatility

BNDY vs. BBAG - Volatility Comparison

Horizon Core Bond ETF (BNDY) has a higher volatility of 1.82% compared to JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) at 1.28%. This indicates that BNDY's price experiences larger fluctuations and is considered to be riskier than BBAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDY	BBAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	1.28%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	4.24%	2.98%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	5.12%	3.93%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	5.94%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	5.78%	-0.67%

BNDY vs. BBAG - Expense Ratio Comparison

BNDY has a 0.66% expense ratio, which is higher than BBAG's 0.03% expense ratio.

Dividends

BNDY vs. BBAG - Dividend Comparison

BNDY's dividend yield for the trailing twelve months is around 5.87%, more than BBAG's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	4.38%	4.29%	4.25%	3.60%	2.23%	1.44%	2.26%	2.92%	0.16%
BNDY Horizon Core Bond ETF	5.87%	1.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNDY and BBAG in my portfolio?

BNDY and BBAG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDY or BBAG?

BNDY has higher volatility (1.82%) compared to BBAG (1.28%). In terms of maximum drawdown, BNDY dropped -3.93% vs BBAG's -18.73%.

Which ETF is better, BNDY or BBAG?

On 1-year performance, BNDY leads with 6.78% vs 4.08% for BBAG. On fees, BBAG is cheaper at 0.03% per year. On volatility, BBAG has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDY or BBAG?

Over the 1-year period, BNDY has performed better with a 6.78% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDY or BBAG?

BBAG is cheaper with a 0.03% expense ratio, compared with 0.66% for BNDY.

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

BNDY has the higher dividend yield at 5.87%, compared with 4.38% for BBAG.

What is the main difference between BNDY and BBAG?

They also come from different issuers: Horizon and JPMorgan. Their fees differ too: 0.66% for BNDY and 0.03% for BBAG.

Which has better risk-adjusted returns?

BNDY currently has the higher Sharpe Ratio (1.34 vs 1.05), 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.