FIXD vs. AGG
FIXD (First Trust Smith Opportunistic Fixed Income ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - FIXD is a Intermediate Core-Plus Bond fund actively managed by First Trust, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. FIXD is actively managed, while AGG is passively managed. Over the past 5 years, FIXD returned -0.39%/yr vs 0.06%/yr for AGG. Their correlation of 0.91 suggests significant overlap in exposure. FIXD charges 0.65%/yr vs 0.03%/yr for AGG.
Performance
FIXD vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, FIXD achieves a 0.27% return, which is significantly lower than AGG's 0.39% return.
FIXD
- 1D
- -0.26%
- 1M
- 0.58%
- YTD
- 0.27%
- 6M
- 0.36%
- 1Y
- 4.71%
- 3Y*
- 3.94%
- 5Y*
- -0.39%
- 10Y*
- —
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%
FIXD vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIXD First Trust Smith Opportunistic Fixed Income ETF | 0.27% | 7.95% | 0.75% | 5.72% | -15.00% | -1.07% | 8.99% | 10.56% | -0.00% | 3.40% |
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% | 3.35% |
Correlation
The correlation between FIXD and AGG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.91 |
The correlation between FIXD and AGG has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.
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Return for Risk
FIXD vs. AGG — Risk / Return Rank
FIXD
AGG
FIXD vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) 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.
| FIXD | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.62 | -0.14 |
| Martin ratioReturn relative to average drawdown | 4.21 | 4.69 | -0.48 |
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Drawdowns
FIXD vs. AGG - Drawdown Comparison
The maximum FIXD drawdown since its inception was -20.44%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for FIXD and AGG.
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Drawdown Indicators
| FIXD | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -18.43% | -2.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -2.76% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -6.11% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -17.82% | -2.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | -3.44% | -2.01% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -2.71% | -2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.95% | +0.17% |
Volatility
FIXD vs. AGG - Volatility Comparison
First Trust Smith Opportunistic Fixed Income ETF (FIXD) has a higher volatility of 1.20% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.11%. This indicates that FIXD'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.
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Volatility by Period
| FIXD | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.11% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.21% | 2.84% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.82% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.59% | 6.10% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 5.41% | +0.42% |
FIXD vs. AGG - Expense Ratio Comparison
FIXD has a 0.65% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
FIXD vs. AGG - Dividend Comparison
FIXD's dividend yield for the trailing twelve months is around 4.69%, 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% |
FIXD First Trust Smith Opportunistic Fixed Income ETF | 4.69% | 4.50% | 4.56% | 3.93% | 3.07% | 1.74% | 3.14% | 5.10% | 2.81% | 1.95% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, FIXD and AGG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FIXD has higher volatility (1.20%) compared to AGG (1.11%). In terms of maximum drawdown, FIXD dropped -20.44% vs AGG's -18.43%.
On 5-year performance, AGG leads with 0.06% vs -0.39% for FIXD. 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 5-year period, AGG has performed better with a 0.06% return vs -0.39%. 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 0.65% for FIXD.
FIXD has the higher dividend yield at 4.69%, compared with 3.98% for AGG.
FIXD is categorized as Intermediate Core-Plus Bond, while AGG is Total Bond Market. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.65% for FIXD and 0.03% for AGG.
AGG currently has the higher Sharpe Ratio (1.17 vs 1.14), 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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