CARY vs. AGG
CARY (Angel Oak Income ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - CARY is a Multisector Bonds fund actively managed by Angel Oak, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. CARY is actively managed, while AGG is passively managed. Over the past 3 years, CARY returned 7.39%/yr vs 4.19%/yr for AGG. A 0.59 correlation means they provide meaningful diversification when combined. CARY charges 0.80%/yr vs 0.03%/yr for AGG.
Performance
CARY vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, CARY achieves a 2.01% return, which is significantly higher than AGG's 0.52% return.
CARY
- 1D
- 0.00%
- 1M
- 0.47%
- YTD
- 2.01%
- 6M
- 2.44%
- 1Y
- 6.50%
- 3Y*
- 7.39%
- 5Y*
- —
- 10Y*
- —
AGG
- 1D
- -0.12%
- 1M
- 0.43%
- YTD
- 0.52%
- 6M
- 0.93%
- 1Y
- 4.50%
- 3Y*
- 4.19%
- 5Y*
- 0.06%
- 10Y*
- 1.57%
CARY vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CARY Angel Oak Income ETF | 2.01% | 7.54% | 6.93% | 8.70% | 0.58% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.52% | 7.19% | 1.31% | 5.65% | 3.61% |
Correlation
The correlation between CARY and AGG is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2022 | 0.59 |
The correlation between CARY and AGG shifts across timeframes, from 0.59 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CARY vs. AGG — Risk / Return Rank
CARY
AGG
CARY vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak Income ETF (CARY) 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.
| CARY | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.47 | ||
| Sortino ratioReturn per unit of downside risk | +3.98 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.21 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 5.11 | 1.63 | +3.47 |
| Martin ratioReturn relative to average drawdown | 22.04 | 4.82 | +17.23 |
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Drawdowns
CARY vs. AGG - Drawdown Comparison
The maximum CARY drawdown since its inception was -1.96%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for CARY and AGG.
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Drawdown Indicators
| CARY | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.96% | -18.43% | +16.47% |
Max Drawdown (1Y)Largest decline over 1 year | -1.28% | -2.76% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -1.96% | -6.11% | +4.15% |
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 | 0.00% | -1.88% | +1.88% |
Average DrawdownAverage peak-to-trough decline | -0.32% | -2.71% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.94% | -0.64% |
Volatility
CARY vs. AGG - Volatility Comparison
The current volatility for Angel Oak Income ETF (CARY) is 0.68%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.37%. This indicates that CARY 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
| CARY | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 1.37% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 1.37% | 2.81% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 3.82% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 6.09% | -3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 5.41% | -2.68% |
CARY vs. AGG - Expense Ratio Comparison
CARY has a 0.80% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
CARY vs. AGG - Dividend Comparison
CARY's dividend yield for the trailing twelve months is around 5.92%, 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% |
CARY Angel Oak Income ETF | 5.92% | 6.13% | 6.10% | 6.38% | 0.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CARY and AGG have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.37%) compared to CARY (0.68%). In terms of maximum drawdown, CARY dropped -1.96% vs AGG's -18.43%.
On 3-year performance, CARY leads with 7.39% vs 4.19% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, CARY has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CARY has performed better with a 7.39% return vs 4.19%. 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 0.80% for CARY.
CARY has the higher dividend yield at 5.92%, compared with 3.98% for AGG.
CARY is categorized as Multisector Bonds, while AGG is Total Bond Market. They also come from different issuers: Angel Oak and iShares. Their fees differ too: 0.80% for CARY and 0.03% for AGG.
CARY currently has the higher Sharpe Ratio (3.66 vs 1.19), 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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