HYGI vs. AGG

Last updated Jun 23, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. At a 0.41 correlation, their price movements are largely independent. HYGI charges 0.52%/yr vs 0.03%/yr for AGG.

Performance

HYGI vs. AGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Inflation Hedged High Yield Bond ETF (HYGI) and iShares Core U.S. Aggregate Bond ETF (AGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYGI vs. AGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%
AGG iShares Core U.S. Aggregate Bond ETF	0.39%	7.19%	1.31%	5.65%	-2.74%

Correlation

The correlation between HYGI and AGG is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022	0.41

Over the past year, the correlation between HYGI and AGG has dropped to 0.18 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

Return for Risk

HYGI vs. AGG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYGI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

AGG

AGG Risk / Return Rank: 33
AGG Sharpe Ratio Rank: 33
AGG Sortino Ratio Rank: 34
AGG Omega Ratio Rank: 31
AGG Calmar Ratio Rank: 33
AGG Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYGI vs. AGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) 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.

	HYGI	AGG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.17	—
Sortino ratio: Return per unit of downside risk	—	1.74	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.62	—
Martin ratio: Return relative to average drawdown	—	4.69	—

Drawdowns

Drawdown Indicators

	HYGI	AGG	Difference
Max Drawdown Largest peak-to-trough decline	—	-18.43%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.43%	—
Current Drawdown Current decline from peak	—	-2.01%	—
Average Drawdown Average peak-to-trough decline	—	-2.71%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.95%	—

Volatility

Volatility by Period

	HYGI	AGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.82%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.10%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.41%	—

HYGI vs. AGG - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is higher than AGG's 0.03% expense ratio.

Dividends

HYGI vs. AGG - Dividend Comparison

HYGI has not paid dividends to shareholders, while AGG's dividend yield for the trailing twelve months is around 3.98%.

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%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYGI and AGG in my portfolio?

HYGI and AGG have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGI or AGG?

On fees, AGG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or AGG?

AGG is cheaper with a 0.03% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, HYGI or AGG?

AGG has the higher dividend yield at 3.98%, compared with 0.97% for HYGI.

What is the main difference between HYGI and AGG?

HYGI is categorized as Inflation-Protected Bonds, while AGG is Total Bond Market. HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.52% for HYGI and 0.03% for AGG.