HYDB vs. AGZD
HYDB (iShares High Yield Bond Factor ETF) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both exchange-traded funds - HYDB is a High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond Index, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. Both are passively managed. Over the past 5 years, HYDB returned 4.57%/yr vs 4.39%/yr for AGZD. At a 0.06 correlation, their price movements are largely independent. HYDB charges 0.35%/yr vs 0.23%/yr for AGZD.
Performance
HYDB vs. AGZD - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.01% return, which is significantly lower than AGZD's 2.47% return.
HYDB
- 1D
- 0.04%
- 1M
- -0.30%
- YTD
- 1.01%
- 6M
- 1.80%
- 1Y
- 6.90%
- 3Y*
- 8.94%
- 5Y*
- 4.57%
- 10Y*
- —
AGZD
- 1D
- -0.38%
- 1M
- 0.49%
- YTD
- 2.47%
- 6M
- 2.73%
- 1Y
- 5.70%
- 3Y*
- 6.10%
- 5Y*
- 4.39%
- 10Y*
- 3.19%
HYDB vs. AGZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.01% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 2.47% | 4.35% | 6.64% | 7.15% | 1.17% | 0.69% | 0.31% | 4.65% | 0.18% | 2.07% |
Correlation
The correlation between HYDB and AGZD is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.06 |
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Return for Risk
HYDB vs. AGZD — Risk / Return Rank
HYDB
AGZD
HYDB vs. AGZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.
| HYDB | AGZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.39 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 6.60 | -4.15 |
| Martin ratioReturn relative to average drawdown | 10.80 | 20.71 | -9.90 |
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
| HYDB | AGZD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 1.94 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 1.23 | -0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.65 | +0.06 |
Drawdowns
HYDB vs. AGZD - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, which is greater than AGZD's maximum drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for HYDB and AGZD.
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Drawdown Indicators
| HYDB | AGZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -8.46% | -13.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.87% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -1.71% | -3.87% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -2.23% | -12.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.46% | — |
Current DrawdownCurrent decline from peak | -0.51% | -0.38% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -0.77% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.28% | +0.36% |
Volatility
HYDB vs. AGZD - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.09%, while WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) has a volatility of 1.18%. This indicates that HYDB experiences smaller price fluctuations and is considered to be less risky than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDB | AGZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.18% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.05% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 2.95% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 3.60% | +3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 3.72% | +4.04% |
HYDB vs. AGZD - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is higher than AGZD's 0.23% expense ratio.
Dividends
HYDB vs. AGZD - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 7.02%, more than AGZD's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 3.98% | 4.12% | 3.96% | 6.07% | 8.61% | 1.66% | 2.28% | 2.83% | 2.62% | 2.31% | 1.81% | 1.66% |
HYDB iShares High Yield Bond Factor ETF | 7.02% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
Frequently Asked Questions
HYDB and AGZD have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGZD has higher volatility (1.18%) compared to HYDB (1.09%). In terms of maximum drawdown, HYDB dropped -21.58% vs AGZD's -8.46%.
On 5-year performance, HYDB leads with 4.57% vs 4.39% for AGZD. On fees, AGZD is cheaper at 0.23% 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, HYDB has performed better with a 4.57% return vs 4.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGZD is cheaper with a 0.23% expense ratio, compared with 0.35% for HYDB.
HYDB has the higher dividend yield at 7.02%, compared with 3.98% for AGZD.
HYDB is categorized as High Yield Bonds, while AGZD is Nontraditional Bonds. HYDB tracks BlackRock High Yield Defensive Bond Index, while AGZD tracks Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.35% for HYDB and 0.23% for AGZD.
AGZD currently has the higher Sharpe Ratio (1.94 vs 1.82), 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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