FALN vs. AGG
FALN (iShares Fallen Angels USD Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped 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, FALN returned 6.24%/yr vs 1.37%/yr for AGG. Their 0.38 correlation means their historical movements had little consistent relationship. FALN charges 0.25%/yr vs 0.03%/yr for AGG.
Performance
FALN vs. AGG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FALN achieves a 1.86% return, which is significantly higher than AGG's -0.56% return. Over the past 10 years, FALN has outperformed AGG with an annualized return of 6.24%, while AGG has yielded a comparatively lower 1.37% annualized return.
FALN
- 1D
- -0.11%
- 1M
- -0.92%
- 6M
- 0.86%
- YTD
- 1.86%
- 1Y
- 6.24%
- 3Y*
- 8.53%
- 5Y*
- 3.39%
- 10Y*
- 6.24%
- ALL TIME*
- 6.52%
AGG
- 1D
- -0.26%
- 1M
- -1.26%
- 6M
- -0.81%
- YTD
- -0.56%
- 1Y
- 1.83%
- 3Y*
- 3.95%
- 5Y*
- -0.40%
- 10Y*
- 1.37%
- ALL TIME*
- 3.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $763.20M | $778.44M | $807.34M | |
| $23.72M | $18.39M | $26.66M |
FALN vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 1.86% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
AGG iShares Core U.S. Aggregate Bond ETF | -0.56% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between FALN and AGG is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.38 |
Over the past year, FALN and AGG have become more correlated (0.68) than their long-term average of 0.38, meaning their price movements have been converging.
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
FALN vs. AGG — Risk / Return Rank
FALN
AGG
FALN vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Fallen Angels USD Bond ETF (FALN) 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.
| FALN | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.12 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 0.99 | +0.59 |
| Martin ratioReturn relative to average drawdown | 6.42 | 2.49 | +3.92 |
Loading charts...
Drawdowns
FALN vs. AGG - Drawdown Comparison
The maximum FALN drawdown since its inception was -29.22%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for FALN and AGG.
Loading charts...
Drawdown Indicators
| FALN | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.22% | -18.43% | -10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -2.76% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -4.98% | -0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -18.78% | -17.82% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -29.22% | -18.43% | -10.79% |
Current DrawdownCurrent decline from peak | -1.07% | -2.94% | +1.87% |
Average DrawdownAverage peak-to-trough decline | -3.28% | -2.70% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.09% | -0.12% |
Volatility
FALN vs. AGG - Volatility Comparison
iShares Fallen Angels USD Bond ETF (FALN) and iShares Core U.S. Aggregate Bond ETF (AGG) have volatilities of 0.99% and 1.03%, 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.
Loading charts...
Volatility by Period
| FALN | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.03% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 2.98% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.59% | 3.78% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 6.10% | +1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.86% | 5.41% | +3.45% |
FALN vs. AGG - Expense Ratio Comparison
FALN has a 0.25% 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
FALN vs. AGG - Dividend Comparison
FALN's dividend yield for the trailing twelve months is around 6.51%, more than AGG's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.71% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
FALN iShares Fallen Angels USD Bond ETF | 5.98% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% | 0.00% |
Frequently Asked Questions
FALN and AGG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.03%) compared to FALN (0.99%). In terms of maximum drawdown, FALN dropped -29.22% vs AGG's -18.43%.
On 10-year performance, FALN leads with 6.24% vs 1.37% 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, FALN has performed better with a 6.24% return vs 1.37%. 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 0.25% for FALN.
FALN has the higher dividend yield at 5.98%, compared with 3.71% for AGG.
FALN is categorized as High Yield Bonds, while AGG is Total Bond Market. FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index, while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.25% for FALN and 0.03% for AGG.
FALN currently has the higher Sharpe Ratio (1.36 vs 0.72), 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 FALN and AGG
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