BTOT vs. AGG

Last updated Jun 5, 2026

BTOT (iShares Total USD Fixed Income Market ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both Total Bond Market funds from iShares - BTOT tracks the Bloomberg US Total Fixed Income Market Index while AGG tracks the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. With a 0.97 correlation, they move nearly in lockstep. BTOT charges 0.09%/yr vs 0.03%/yr for AGG.

Performance

BTOT vs. AGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Total USD Fixed Income Market ETF (BTOT) and iShares Core U.S. Aggregate Bond ETF (AGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTOT achieves a 0.53% return, which is significantly higher than AGG's 0.42% return.

BTOT

• 1D: 0.13%
• 1M: 0.22%
• YTD: 0.53%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGG

• 1D: 0.16%
• 1M: 0.22%
• YTD: 0.42%
• 6M: 0.49%
• 1Y: 4.69%
• 3Y*: 4.01%
• 5Y*: 0.13%
• 10Y*: 1.60%

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

BTOT vs. AGG - Yearly Performance Comparison

	2026 (YTD)	2025
BTOT iShares Total USD Fixed Income Market ETF	0.53%	0.31%
AGG iShares Core U.S. Aggregate Bond ETF	0.42%	0.09%

Correlation

The correlation between BTOT and AGG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.97

Return for Risk

BTOT vs. AGG — Risk / Return Rank

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

AGG

AGG Risk / Return Rank: 35
AGG Sharpe Ratio Rank: 35
AGG Sortino Ratio Rank: 36
AGG Omega Ratio Rank: 33
AGG Calmar Ratio Rank: 35
AGG Martin Ratio Rank: 35

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.

BTOT vs. AGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BTOT	AGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.02	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.59	-0.11

Drawdowns

BTOT vs. AGG - Drawdown Comparison

The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for BTOT and AGG.

Drawdown Indicators

	BTOT	AGG	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-18.43%	+16.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.43%	—
Current Drawdown Current decline from peak	-1.05%	-1.98%	+0.93%
Average Drawdown Average peak-to-trough decline	-0.77%	-2.71%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.90%	—

Volatility

Volatility by Period

	BTOT	AGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.85%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.69%	6.09%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	5.40%	-1.71%

BTOT vs. AGG - Expense Ratio Comparison

BTOT has a 0.09% expense ratio, which is higher than AGG'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

BTOT vs. AGG - Dividend Comparison

BTOT's dividend yield for the trailing twelve months is around 2.12%, less than AGG's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGG iShares Core U.S. Aggregate Bond ETF	3.98%	3.89%	3.74%	3.13%	2.39%	1.77%	2.14%	2.70%	2.72%	2.32%	2.39%	2.45%
BTOT iShares Total USD Fixed Income Market ETF	2.12%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTOT and AGG in my portfolio?

With a correlation of 0.97, BTOT and AGG 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 ETF is better, BTOT or AGG?

On fees, AGG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTOT or AGG?

AGG is cheaper with a 0.03% expense ratio, compared with 0.09% for BTOT.

Which ETF pays a higher dividend yield, BTOT or AGG?

AGG has the higher dividend yield at 3.98%, compared with 2.12% for BTOT.

What is the main difference between BTOT and AGG?

BTOT tracks Bloomberg US Total Fixed Income Market Index, while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.09% for BTOT and 0.03% for AGG.