GRNB vs. IAGG
GRNB (VanEck Green Bond ETF) and IAGG (iShares Core International Aggregate Bond ETF) are both Global Bonds funds - GRNB tracks the S&P Green Bond U.S. Dollar Select Index while IAGG tracks the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. Both are passively managed. Over the past 5 years, GRNB returned 0.77%/yr vs 1.11%/yr for IAGG. A 0.59 correlation means they provide meaningful diversification when combined. GRNB charges 0.20%/yr vs 0.07%/yr for IAGG.
Performance
GRNB vs. IAGG - Performance Comparison
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Returns By Period
In the year-to-date period, GRNB achieves a 0.43% return, which is significantly lower than IAGG's 0.92% return.
GRNB
- 1D
- -0.19%
- 1M
- 0.45%
- YTD
- 0.43%
- 6M
- 0.57%
- 1Y
- 4.99%
- 3Y*
- 5.07%
- 5Y*
- 0.77%
- 10Y*
- —
IAGG
- 1D
- -0.20%
- 1M
- 0.66%
- YTD
- 0.92%
- 6M
- 0.72%
- 1Y
- 2.30%
- 3Y*
- 4.59%
- 5Y*
- 1.11%
- 10Y*
- 2.17%
GRNB vs. IAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRNB VanEck Green Bond ETF | 0.43% | 7.09% | 3.31% | 7.08% | -11.93% | -2.36% | 7.98% | 5.40% | -4.07% | 9.87% |
IAGG iShares Core International Aggregate Bond ETF | 0.92% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 3.38% | 2.51% |
Correlation
The correlation between GRNB and IAGG is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2017 | 0.59 |
The correlation between GRNB and IAGG shifts across timeframes, from 0.59 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GRNB vs. IAGG — Risk / Return Rank
GRNB
IAGG
GRNB vs. IAGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Green Bond ETF (GRNB) and iShares Core International Aggregate Bond ETF (IAGG). 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.
| GRNB | IAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.15 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.00 | +1.00 |
| Martin ratioReturn relative to average drawdown | 7.82 | 2.99 | +4.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GRNB | IAGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 0.81 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.25 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.62 | -0.16 |
Drawdowns
GRNB vs. IAGG - Drawdown Comparison
The maximum GRNB drawdown since its inception was -18.08%, which is greater than IAGG's maximum drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for GRNB and IAGG.
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Drawdown Indicators
| GRNB | IAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.08% | -13.88% | -4.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -2.32% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -4.24% | -2.32% | -1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -17.94% | -13.57% | -4.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.88% | — |
Current DrawdownCurrent decline from peak | -0.57% | -0.98% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -2.85% | -1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.77% | -0.13% |
Volatility
GRNB vs. IAGG - Volatility Comparison
The current volatility for VanEck Green Bond ETF (GRNB) is 0.93%, while iShares Core International Aggregate Bond ETF (IAGG) has a volatility of 1.18%. This indicates that GRNB experiences smaller price fluctuations and is considered to be less risky than IAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRNB | IAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 1.18% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 2.40% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 2.84% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 4.51% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 4.05% | +0.83% |
GRNB vs. IAGG - Expense Ratio Comparison
GRNB has a 0.20% expense ratio, which is higher than IAGG's 0.07% 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
GRNB vs. IAGG - Dividend Comparison
GRNB's dividend yield for the trailing twelve months is around 4.24%, more than IAGG's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRNB VanEck Green Bond ETF | 4.24% | 4.18% | 3.83% | 3.17% | 2.60% | 1.97% | 2.24% | 1.79% | 1.21% | 1.09% | 0.00% | 0.00% |
IAGG iShares Core International Aggregate Bond ETF | 3.66% | 3.08% | 4.28% | 3.55% | 2.27% | 1.16% | 1.95% | 2.82% | 3.02% | 1.74% | 1.56% | 0.13% |
Frequently Asked Questions
GRNB and IAGG have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAGG has higher volatility (1.18%) compared to GRNB (0.93%). In terms of maximum drawdown, GRNB dropped -18.08% vs IAGG's -13.88%.
On 5-year performance, IAGG leads with 1.11% vs 0.77% for GRNB. On fees, IAGG is cheaper at 0.07% per year. On volatility, GRNB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IAGG has performed better with a 1.11% return vs 0.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAGG is cheaper with a 0.07% expense ratio, compared with 0.20% for GRNB.
GRNB has the higher dividend yield at 4.24%, compared with 3.66% for IAGG.
GRNB tracks S&P Green Bond U.S. Dollar Select Index, while IAGG tracks Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for GRNB and 0.07% for IAGG.
GRNB currently has the higher Sharpe Ratio (1.69 vs 0.81), 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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