HYBB vs. AGG
HYBB (iShares BB Rated Corporate Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - HYBB is a High Yield Bonds fund tracking the ICE BofA BB US High Yield Constrained Index (USD), 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, HYBB returned 3.63%/yr vs 0.13%/yr for AGG. A 0.54 correlation means they provide meaningful diversification when combined. HYBB charges 0.25%/yr vs 0.03%/yr for AGG.
Performance
HYBB vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, HYBB achieves a 1.39% return, which is significantly higher than AGG's 0.42% return.
HYBB
- 1D
- 0.08%
- 1M
- 0.42%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 6.52%
- 3Y*
- 7.96%
- 5Y*
- 3.63%
- 10Y*
- —
AGG
- 1D
- 0.16%
- 1M
- 0.22%
- YTD
- 0.42%
- 6M
- 0.49%
- 1Y
- 4.69%
- 3Y*
- 4.01%
- 5Y*
- 0.13%
- 10Y*
- 1.60%
HYBB vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 1.39% | 8.95% | 6.35% | 10.53% | -10.11% | 3.36% | 4.29% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.42% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 0.87% |
Correlation
The correlation between HYBB and AGG is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2020 | 0.54 |
The correlation between HYBB and AGG shifts across timeframes, from 0.54 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYBB vs. AGG — Risk / Return Rank
HYBB
AGG
HYBB vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) 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.
| HYBB | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.22 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 1.70 | +0.93 |
| Martin ratioReturn relative to average drawdown | 11.88 | 5.21 | +6.67 |
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
| HYBB | AGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 1.24 | +0.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.02 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.59 | +0.03 |
Drawdowns
HYBB vs. AGG - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for HYBB and AGG.
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Drawdown Indicators
| HYBB | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -18.43% | +3.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -2.76% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -6.11% | +2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | -17.82% | +2.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | -0.26% | -1.98% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -2.71% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.90% | -0.35% |
Volatility
HYBB vs. AGG - Volatility Comparison
The current volatility for iShares BB Rated Corporate Bond ETF (HYBB) is 0.98%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.29%. This indicates that HYBB 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
| HYBB | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.29% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 2.74% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 3.85% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 6.09% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 5.40% | +1.27% |
HYBB vs. AGG - Expense Ratio Comparison
HYBB 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
HYBB vs. AGG - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 5.86%, 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% |
HYBB iShares BB Rated Corporate Bond ETF | 5.86% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYBB and AGG have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.29%) compared to HYBB (0.98%). In terms of maximum drawdown, HYBB dropped -15.28% vs AGG's -18.43%.
On 5-year performance, HYBB leads with 3.63% vs 0.13% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, HYBB has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYBB has performed better with a 3.63% return vs 0.13%. 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 HYBB.
HYBB has the higher dividend yield at 5.86%, compared with 3.98% for AGG.
HYBB is categorized as High Yield Bonds, while AGG is Total Bond Market. HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.25% for HYBB and 0.03% for AGG.
HYBB currently has the higher Sharpe Ratio (2.00 vs 1.24), 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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