HYGV vs. AGG
HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - HYGV is a High Yield Bonds fund tracking the Northern Trust High Yield Value-Scored US Corporate Bond Index, 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, HYGV returned 3.44%/yr vs 0.08%/yr for AGG. At a 0.35 correlation, their price movements are largely independent. HYGV charges 0.37%/yr vs 0.03%/yr for AGG.
Performance
HYGV vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, HYGV achieves a 1.71% return, which is significantly higher than AGG's 0.64% return.
HYGV
- 1D
- 0.53%
- 1M
- 0.72%
- YTD
- 1.71%
- 6M
- 1.99%
- 1Y
- 6.90%
- 3Y*
- 8.43%
- 5Y*
- 3.44%
- 10Y*
- —
AGG
- 1D
- 0.58%
- 1M
- 0.59%
- YTD
- 0.64%
- 6M
- 0.74%
- 1Y
- 5.01%
- 3Y*
- 4.07%
- 5Y*
- 0.08%
- 10Y*
- 1.58%
HYGV vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 1.71% | 7.92% | 8.02% | 12.11% | -12.60% | 5.93% | 8.01% | 15.76% | -4.15% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.64% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 1.52% |
Correlation
The correlation between HYGV and AGG is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2018 | 0.35 |
Over the past year, HYGV and AGG have become more correlated (0.61) than their long-term average of 0.35, meaning their price movements have been converging.
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Return for Risk
HYGV vs. AGG — Risk / Return Rank
HYGV
AGG
HYGV vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) 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.
| HYGV | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.23 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 1.82 | +0.76 |
| Martin ratioReturn relative to average drawdown | 11.11 | 5.38 | +5.72 |
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Drawdowns
HYGV vs. AGG - Drawdown Comparison
The maximum HYGV drawdown since its inception was -23.47%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for HYGV and AGG.
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Drawdown Indicators
| HYGV | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.47% | -18.43% | -5.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.76% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -5.56% | -6.11% | +0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -17.82% | +0.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.76% | +1.76% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -2.71% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.93% | -0.31% |
Volatility
HYGV vs. AGG - Volatility Comparison
The current volatility for FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) is 1.20%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.36%. This indicates that HYGV 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
| HYGV | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.36% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 2.82% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 3.83% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 6.10% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 5.41% | +3.78% |
HYGV vs. AGG - Expense Ratio Comparison
HYGV has a 0.37% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
HYGV vs. AGG - Dividend Comparison
HYGV's dividend yield for the trailing twelve months is around 7.38%, more than AGG's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.97% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 7.38% | 7.48% | 8.20% | 8.77% | 7.64% | 6.07% | 6.18% | 7.95% | 5.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYGV and AGG have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.36%) compared to HYGV (1.20%). In terms of maximum drawdown, HYGV dropped -23.47% vs AGG's -18.43%.
On 5-year performance, HYGV leads with 3.44% vs 0.08% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, HYGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYGV has performed better with a 3.44% return vs 0.08%. 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 0.37% for HYGV.
HYGV has the higher dividend yield at 7.38%, compared with 3.97% for AGG.
HYGV is categorized as High Yield Bonds, while AGG is Total Bond Market. HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index, while AGG tracks Bloomberg U.S. Aggregate Bond Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.37% for HYGV and 0.03% for AGG.
HYGV currently has the higher Sharpe Ratio (1.78 vs 1.32), 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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