GIOIX vs. AGG
GIOIX (Guggenheim Macro Opportunities Fund) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - GIOIX is a Nontraditional Bonds fund actively managed by Guggenheim, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. GIOIX is actively managed, while AGG is passively managed. Over the past 10 years, GIOIX returned 4.00%/yr vs 1.37%/yr for AGG. Their 0.33 correlation means their historical movements had little consistent relationship. GIOIX charges 0.96%/yr vs 0.03%/yr for AGG.
Performance
GIOIX vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, GIOIX achieves a 0.67% return, which is significantly higher than AGG's -0.56% return. Over the past 10 years, GIOIX has outperformed AGG with an annualized return of 4.00%, while AGG has yielded a comparatively lower 1.37% annualized return.
GIOIX
- 1D
- 0.04%
- 1M
- -0.65%
- 6M
- 0.07%
- YTD
- 0.67%
- 1Y
- 3.78%
- 3Y*
- 6.87%
- 5Y*
- 3.09%
- 10Y*
- 4.00%
- ALL TIME*
- 4.66%
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 | |
| $0.00 | $0.00 | $0.00 |
GIOIX vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GIOIX Guggenheim Macro Opportunities Fund | 0.67% | 7.64% | 7.78% | 9.69% | -9.57% | 1.71% | 11.09% | 2.25% | 0.46% | 5.32% |
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 GIOIX and AGG is 0.72, 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. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.33 |
Over the past year, GIOIX and AGG have become more correlated (0.72) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
GIOIX vs. AGG — Risk / Return Rank
GIOIX
AGG
GIOIX vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Guggenheim Macro Opportunities Fund (GIOIX) 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.
| GIOIX | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.12 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 0.99 | +1.18 |
| Martin ratioReturn relative to average drawdown | 9.73 | 2.49 | +7.23 |
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Drawdowns
GIOIX vs. AGG - Drawdown Comparison
The maximum GIOIX drawdown since its inception was -13.38%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for GIOIX and AGG.
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Drawdown Indicators
| GIOIX | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.38% | -18.43% | +5.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -2.76% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -2.12% | -4.98% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -13.38% | -17.82% | +4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -13.38% | -18.43% | +5.05% |
Current DrawdownCurrent decline from peak | -0.73% | -2.94% | +2.21% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -2.70% | +1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 1.09% | -0.62% |
Volatility
GIOIX vs. AGG - Volatility Comparison
The current volatility for Guggenheim Macro Opportunities Fund (GIOIX) is 0.48%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.03%. This indicates that GIOIX experiences smaller price fluctuations and is considered to be less risky 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
| GIOIX | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 1.03% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 2.98% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 3.78% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.19% | 6.10% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.89% | 5.41% | -2.52% |
GIOIX vs. AGG - Expense Ratio Comparison
GIOIX has a 0.96% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
GIOIX vs. AGG - Dividend Comparison
GIOIX's dividend yield for the trailing twelve months is around 5.62%, 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% |
GIOIX Guggenheim Macro Opportunities Fund | 5.62% | 5.86% | 5.88% | 6.45% | 3.78% | 3.10% | 3.61% | 3.29% | 3.55% | 3.54% | 5.38% | 5.82% |
Frequently Asked Questions
GIOIX and AGG have a correlation of 0.72, 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 GIOIX (0.48%). In terms of maximum drawdown, GIOIX dropped -13.38% vs AGG's -18.43%.
GIOIX currently has the higher Sharpe Ratio (1.82 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.
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