EIBAX vs. AGG

Last updated Jun 3, 2026

EIBAX (Eaton Vance Total Return Bond Fund) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - EIBAX is a Intermediate Core-Plus Bond fund managed by Eaton Vance, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 10 years, EIBAX returned 3.59%/yr vs 1.59%/yr for AGG. A 0.74 correlation means they provide meaningful diversification when combined. EIBAX charges 0.49%/yr vs 0.03%/yr for AGG.

Performance

EIBAX vs. AGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Total Return Bond Fund (EIBAX) 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, EIBAX achieves a 0.51% return, which is significantly higher than AGG's 0.47% return. Over the past 10 years, EIBAX has outperformed AGG with an annualized return of 3.59%, while AGG has yielded a comparatively lower 1.59% annualized return.

EIBAX

• 1D: -0.10%
• 1M: 0.13%
• YTD: 0.51%
• 6M: 0.71%
• 1Y: 6.45%
• 3Y*: 6.00%
• 5Y*: 1.38%
• 10Y*: 3.59%

AGG

• 1D: 0.03%
• 1M: 0.14%
• YTD: 0.47%
• 6M: 0.49%
• 1Y: 5.29%
• 3Y*: 4.02%
• 5Y*: 0.23%
• 10Y*: 1.59%

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

EIBAX vs. AGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIBAX Eaton Vance Total Return Bond Fund	0.51%	9.15%	4.38%	5.59%	-12.88%	3.02%	5.89%	10.84%	-0.84%	7.72%
AGG iShares Core U.S. Aggregate Bond ETF	0.47%	7.19%	1.31%	5.65%	-13.02%	-1.77%	7.48%	8.46%	0.09%	3.55%

Correlation

The correlation between EIBAX and AGG is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009	0.74

The correlation between EIBAX and AGG shifts across timeframes, from 0.74 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EIBAX vs. AGG — Risk / Return Rank

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

EIBAX

EIBAX Risk / Return Rank: 28
EIBAX Sharpe Ratio Rank: 28
EIBAX Sortino Ratio Rank: 30
EIBAX Omega Ratio Rank: 27
EIBAX Calmar Ratio Rank: 30
EIBAX Martin Ratio Rank: 26

AGG

AGG Risk / Return Rank: 37
AGG Sharpe Ratio Rank: 38
AGG Sortino Ratio Rank: 40
AGG Omega Ratio Rank: 37
AGG Calmar Ratio Rank: 36
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.

EIBAX vs. AGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Total Return Bond Fund (EIBAX) 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.

	EIBAX	AGG	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.38	+0.15
Sortino ratio Return per unit of downside risk	2.32	2.06	+0.26
Omega ratio Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio Return relative to maximum drawdown	2.09	1.81	+0.27
Martin ratio Return relative to average drawdown	6.56	5.61	+0.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIBAX vs. AGG - Sharpe Ratio Comparison

The current EIBAX Sharpe Ratio is 1.54, which is comparable to the AGG Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of EIBAX and AGG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EIBAX	AGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.38	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.04	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.30	+0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.59	+0.22

Drawdowns

EIBAX vs. AGG - Drawdown Comparison

The maximum EIBAX drawdown since its inception was -17.20%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for EIBAX and AGG.

Drawdown Indicators

	EIBAX	AGG	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-18.43%	+1.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.26%	-2.76%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-5.65%	-6.11%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	-17.82%	+0.91%
Max Drawdown (10Y) Largest decline over 10 years	-17.20%	-18.43%	+1.23%
Current Drawdown Current decline from peak	-1.41%	-1.93%	+0.52%
Average Drawdown Average peak-to-trough decline	-3.51%	-2.71%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.89%	+0.15%

Volatility

EIBAX vs. AGG - Volatility Comparison

Eaton Vance Total Return Bond Fund (EIBAX) has a higher volatility of 1.54% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.32%. This indicates that EIBAX's price experiences larger fluctuations and is considered to be riskier than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIBAX	AGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	1.32%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	2.76%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	4.09%	3.85%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.32%	6.09%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	5.41%	-0.71%

EIBAX vs. AGG - Expense Ratio Comparison

EIBAX has a 0.49% expense ratio, which is higher than AGG's 0.03% expense ratio.

Dividends

EIBAX vs. AGG - Dividend Comparison

EIBAX's dividend yield for the trailing twelve months is around 5.14%, 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%
EIBAX Eaton Vance Total Return Bond Fund	5.14%	5.13%	5.58%	4.01%	4.04%	3.49%	3.87%	3.97%	4.16%	3.55%	3.90%	5.69%

Frequently Asked Questions

Can I hold both EIBAX and AGG in my portfolio?

EIBAX and AGG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIBAX or AGG?

EIBAX has higher volatility (1.54%) compared to AGG (1.32%). In terms of maximum drawdown, EIBAX dropped -17.20% vs AGG's -18.43%.

Which has better risk-adjusted returns?

EIBAX currently has the higher Sharpe Ratio (1.54 vs 1.38), 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.