GARP vs. AGG
GARP (iShares MSCI USA Quality GARP ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - GARP is a Large Cap Growth Equities fund tracking the MSCI USA Quality GARP Select Index, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 5 years, GARP returned 19.14%/yr vs 0.06%/yr for AGG. At a 0.17 correlation, their price movements are largely independent. GARP charges 0.15%/yr vs 0.03%/yr for AGG.
Performance
GARP vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, GARP achieves a 19.46% return, which is significantly higher than AGG's 0.39% return.
GARP
- 1D
- -0.10%
- 1M
- 3.81%
- YTD
- 19.46%
- 6M
- 18.14%
- 1Y
- 42.17%
- 3Y*
- 32.04%
- 5Y*
- 19.14%
- 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%
GARP vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 19.46% | 21.49% | 37.42% | 42.86% | -26.75% | 27.99% | 26.51% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.39% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 6.71% |
Correlation
The correlation between GARP and AGG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020 | 0.17 |
The correlation between GARP and AGG shifts across timeframes, from 0.17 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GARP vs. AGG — Risk / Return Rank
GARP
AGG
GARP vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) 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.
| GARP | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.21 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 1.62 | +1.48 |
| Martin ratioReturn relative to average drawdown | 12.06 | 4.69 | +7.37 |
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Drawdowns
GARP vs. AGG - Drawdown Comparison
The maximum GARP drawdown since its inception was -31.34%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for GARP and AGG.
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Drawdown Indicators
| GARP | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.34% | -18.43% | -12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -13.69% | -2.76% | -10.93% |
Max Drawdown (3Y)Largest decline over 3 years | -23.73% | -6.11% | -17.62% |
Max Drawdown (5Y)Largest decline over 5 years | -30.61% | -17.82% | -12.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | -2.23% | -2.01% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -7.33% | -2.71% | -4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 0.95% | +2.56% |
Volatility
GARP vs. AGG - Volatility Comparison
iShares MSCI USA Quality GARP ETF (GARP) has a higher volatility of 8.09% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.11%. This indicates that GARP'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
| GARP | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.09% | 1.11% | +6.98% |
Volatility (6M)Calculated over the trailing 6-month period | 15.32% | 2.84% | +12.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 3.82% | +15.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.18% | 6.10% | +16.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.96% | 5.41% | +18.55% |
GARP vs. AGG - Expense Ratio Comparison
GARP has a 0.15% 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
GARP vs. AGG - Dividend Comparison
GARP's dividend yield for the trailing twelve months is around 0.27%, less 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% |
GARP iShares MSCI USA Quality GARP ETF | 0.27% | 0.31% | 0.38% | 0.75% | 1.85% | 0.67% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GARP and AGG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GARP has higher volatility (8.09%) compared to AGG (1.11%). In terms of maximum drawdown, GARP dropped -31.34% vs AGG's -18.43%.
On 5-year performance, GARP leads with 19.14% vs 0.06% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, AGG has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GARP has performed better with a 19.14% return vs 0.06%. 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 0.15% for GARP.
AGG has the higher dividend yield at 3.98%, compared with 0.27% for GARP.
GARP is categorized as Large Cap Growth Equities, while AGG is Total Bond Market. GARP tracks MSCI USA Quality GARP Select Index, while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.15% for GARP and 0.03% for AGG.
GARP currently has the higher Sharpe Ratio (2.23 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.
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