DJP vs. AGZ
DJP (iPath Bloomberg Commodity Index Total Return ETN) and AGZ (iShares Agency Bond ETF) are both exchange-traded funds - DJP is a Commodities fund tracking the Bloomberg Commodity Index, while AGZ is a Government Bonds fund tracking the Bloomberg U.S. Agency Bond Index (USD). Both are passively managed. Over the past 10 years, DJP returned 7.63%/yr vs 1.74%/yr for AGZ. Their -0.10 correlation means they have often moved in opposite directions in the past. DJP charges 0.70%/yr vs 0.20%/yr for AGZ.
Performance
DJP vs. AGZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DJP achieves a 25.98% return, which is significantly higher than AGZ's 0.14% return. Over the past 10 years, DJP has outperformed AGZ with an annualized return of 7.63%, while AGZ has yielded a comparatively lower 1.74% annualized return.
DJP
- 1D
- 0.02%
- 1M
- 8.69%
- 6M
- 11.59%
- YTD
- 25.98%
- 1Y
- 40.97%
- 3Y*
- 13.27%
- 5Y*
- 11.22%
- 10Y*
- 7.63%
- ALL TIME*
- -0.16%
AGZ
- 1D
- -0.12%
- 1M
- -0.37%
- 6M
- 0.06%
- YTD
- 0.14%
- 1Y
- 2.32%
- 3Y*
- 4.20%
- 5Y*
- 0.97%
- 10Y*
- 1.74%
- ALL TIME*
- 2.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57M | $1.51M | $1.37M | |
| $1.78M | $2.43M | $3.70M |
DJP vs. AGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 25.98% | 17.20% | 5.59% | -9.85% | 17.46% | 31.05% | -4.12% | 7.63% | -13.07% | 0.74% |
AGZ iShares Agency Bond ETF | 0.14% | 6.05% | 3.08% | 5.18% | -7.77% | -1.05% | 5.77% | 5.51% | 1.32% | 2.01% |
Correlation
The correlation between DJP and AGZ is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2008 | -0.10 |
The correlation between DJP and AGZ shifts across timeframes, from -0.26 (1 year) to -0.02 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DJP vs. AGZ — Risk / Return Rank
DJP
AGZ
DJP vs. AGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and iShares Agency Bond ETF (AGZ). 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.
| DJP | AGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.21 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.21 | +0.26 |
| Martin ratioReturn relative to average drawdown | 7.89 | 6.46 | +1.43 |
Loading charts...
Drawdowns
DJP vs. AGZ - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than AGZ's maximum drawdown of -11.01%. Use the drawdown chart below to compare losses from any high point for DJP and AGZ.
Loading charts...
Drawdown Indicators
| DJP | AGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -11.01% | -67.34% |
Max Drawdown (1Y)Largest decline over 1 year | -16.42% | -1.35% | -15.07% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -1.85% | -14.57% |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | -10.66% | -18.32% |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | -11.01% | -27.35% |
Current DrawdownCurrent decline from peak | -35.21% | -0.81% | -34.40% |
Average DrawdownAverage peak-to-trough decline | -50.74% | -1.60% | -49.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.13% | 0.46% | +4.67% |
Volatility
DJP vs. AGZ - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 5.94% compared to iShares Agency Bond ETF (AGZ) at 0.66%. This indicates that DJP's price experiences larger fluctuations and is considered to be riskier than AGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DJP | AGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 0.66% | +5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 17.00% | 2.01% | +14.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 2.54% | +17.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 3.55% | +15.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 3.03% | +14.06% |
DJP vs. AGZ - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than AGZ's 0.20% expense ratio.
Dividends
DJP vs. AGZ - Dividend Comparison
DJP has not paid dividends to shareholders, while AGZ's dividend yield for the trailing twelve months is around 3.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.39% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DJP and AGZ have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DJP has higher volatility (5.94%) compared to AGZ (0.66%). In terms of maximum drawdown, DJP dropped -78.35% vs AGZ's -11.01%.
On 10-year performance, DJP leads with 7.63% vs 1.74% for AGZ. On fees, AGZ is cheaper at 0.20% per year. On volatility, AGZ has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DJP has performed better with a 7.63% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGZ is cheaper with a 0.20% expense ratio, compared with 0.70% for DJP.
AGZ has the higher dividend yield at 3.39%, compared with 0.00% for DJP.
DJP is categorized as Commodities, while AGZ is Government Bonds. DJP tracks Bloomberg Commodity Index, while AGZ tracks Bloomberg U.S. Agency Bond Index (USD). They also come from different issuers: Barclays Capital and iShares. Their fees differ too: 0.70% for DJP and 0.20% for AGZ.
DJP currently has the higher Sharpe Ratio (2.06 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.
Find the right allocation for DJP and AGZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer