BYLD vs. AGG
BYLD (iShares Yield Optimized Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - BYLD is a Intermediate Core-Plus Bond fund tracking the Morningstar U.S. Bond Market Yield-Optimized Index, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 10 years, BYLD returned 2.96%/yr vs 1.53%/yr for AGG. A 0.70 correlation means they provide meaningful diversification when combined. BYLD charges 0.17%/yr vs 0.03%/yr for AGG.
Performance
BYLD vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, BYLD achieves a 1.46% return, which is significantly higher than AGG's 0.39% return. Over the past 10 years, BYLD has outperformed AGG with an annualized return of 2.96%, while AGG has yielded a comparatively lower 1.53% annualized return.
BYLD
- 1D
- -0.18%
- 1M
- 0.84%
- YTD
- 1.46%
- 6M
- 1.62%
- 1Y
- 6.36%
- 3Y*
- 6.52%
- 5Y*
- 2.23%
- 10Y*
- 2.96%
AGG
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.39%
- 6M
- 0.47%
- 1Y
- 4.45%
- 3Y*
- 3.94%
- 5Y*
- 0.06%
- 10Y*
- 1.53%
BYLD vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 1.46% | 8.41% | 4.17% | 8.30% | -10.33% | -1.25% | 4.25% | 12.79% | -1.50% | 4.75% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.39% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between BYLD and AGG is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2014 | 0.70 |
The correlation between BYLD and AGG shifts across timeframes, from 0.70 (all time) to 0.87 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BYLD vs. AGG — Risk / Return Rank
BYLD
AGG
BYLD vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) 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.
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.
| BYLD | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 1.62 | +0.74 |
| Martin ratioReturn relative to average drawdown | 9.51 | 4.69 | +4.82 |
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Drawdowns
BYLD vs. AGG - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for BYLD and AGG.
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Drawdown Indicators
| BYLD | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -18.43% | +3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -2.76% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -6.11% | +2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | -17.82% | +3.17% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -18.43% | +3.68% |
Current DrawdownCurrent decline from peak | -0.18% | -2.01% | +1.83% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -2.71% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.95% | -0.28% |
Volatility
BYLD vs. AGG - Volatility Comparison
iShares Yield Optimized Bond ETF (BYLD) and iShares Core U.S. Aggregate Bond ETF (AGG) have volatilities of 1.13% and 1.11%, 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.
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Volatility by Period
| BYLD | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.11% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.84% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.82% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 6.10% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 5.41% | +0.02% |
BYLD vs. AGG - Expense Ratio Comparison
BYLD has a 0.17% 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
BYLD vs. AGG - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 5.35%, more 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% |
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Frequently Asked Questions
BYLD and AGG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BYLD has higher volatility (1.13%) compared to AGG (1.11%). In terms of maximum drawdown, BYLD dropped -14.75% vs AGG's -18.43%.
On 10-year performance, BYLD leads with 2.96% vs 1.53% for AGG. On fees, AGG 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.
Over the 10-year period, BYLD has performed better with a 2.96% return vs 1.53%. 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 0.17% for BYLD.
BYLD has the higher dividend yield at 5.35%, compared with 3.98% for AGG.
BYLD is categorized as Intermediate Core-Plus Bond, while AGG is Total Bond Market. BYLD tracks Morningstar U.S. Bond Market Yield-Optimized Index, while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.17% for BYLD and 0.03% for AGG.
BYLD currently has the higher Sharpe Ratio (1.66 vs 1.17), 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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