IAGG vs. BGRN
IAGG (iShares Core International Aggregate Bond ETF) and BGRN (iShares USD Green Bond ETF) are both Global Bonds funds from iShares - IAGG tracks the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index while BGRN tracks the Bloomberg MSCI USD Green Bond Select Index. Both are passively managed. Over the past 5 years, IAGG returned 0.79%/yr vs -0.01%/yr for BGRN. Their 0.77 correlation means they have sometimes moved together and sometimes differently. IAGG charges 0.07%/yr vs 0.20%/yr for BGRN.
Performance
IAGG vs. BGRN - Performance Comparison
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Returns By Period
In the year-to-date period, IAGG achieves a 0.90% return, which is significantly higher than BGRN's -0.16% return.
IAGG
- 1D
- -0.16%
- 1M
- -0.76%
- 6M
- 0.32%
- YTD
- 0.90%
- 1Y
- 1.61%
- 3Y*
- 4.51%
- 5Y*
- 0.79%
- 10Y*
- 1.97%
- ALL TIME*
- 2.43%
BGRN
- 1D
- -0.14%
- 1M
- -1.01%
- 6M
- -0.42%
- YTD
- -0.16%
- 1Y
- 2.18%
- 3Y*
- 4.59%
- 5Y*
- -0.01%
- 10Y*
- —
- ALL TIME*
- 2.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.20M | $1.71M | $1.66M | |
| $86.19M | $66.39M | $104.80M |
IAGG vs. BGRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 0.90% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 1.58% |
BGRN iShares USD Green Bond ETF | -0.16% | 7.27% | 2.77% | 6.50% | -13.06% | -2.80% | 6.86% | 9.70% | 1.14% |
Correlation
The correlation between IAGG and BGRN is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2018 | 0.77 |
The correlation between IAGG and BGRN has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.
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Return for Risk
IAGG vs. BGRN — Risk / Return Rank
IAGG
BGRN
IAGG vs. BGRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core International Aggregate Bond ETF (IAGG) and iShares USD Green Bond ETF (BGRN). 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.
| IAGG | BGRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.17 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 1.27 | -0.45 |
| Martin ratioReturn relative to average drawdown | 2.34 | 3.81 | -1.47 |
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Drawdowns
IAGG vs. BGRN - Drawdown Comparison
The maximum IAGG drawdown since its inception was -13.88%, smaller than the maximum BGRN drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for IAGG and BGRN.
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Drawdown Indicators
| IAGG | BGRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.88% | -19.16% | +5.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -2.23% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -3.68% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -13.57% | -18.73% | +5.16% |
Max Drawdown (10Y)Largest decline over 10 years | -13.88% | — | — |
Current DrawdownCurrent decline from peak | -1.00% | -1.42% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -5.68% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.74% | +0.08% |
Volatility
IAGG vs. BGRN - Volatility Comparison
iShares Core International Aggregate Bond ETF (IAGG) has a higher volatility of 0.82% compared to iShares USD Green Bond ETF (BGRN) at 0.70%. This indicates that IAGG's price experiences larger fluctuations and is considered to be riskier than BGRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAGG | BGRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.70% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 2.39% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 2.95% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 5.46% | -0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 4.96% | -0.93% |
IAGG vs. BGRN - Expense Ratio Comparison
IAGG has a 0.07% expense ratio, which is lower than BGRN's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IAGG vs. BGRN - Dividend Comparison
IAGG's dividend yield for the trailing twelve months is around 4.53%, more than BGRN's 4.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGRN iShares USD Green Bond ETF | 3.97% | 4.21% | 4.07% | 3.52% | 2.66% | 0.78% | 1.82% | 3.66% | 0.21% | 0.00% | 0.00% | 0.00% |
IAGG iShares Core International Aggregate Bond ETF | 4.53% | 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
IAGG and BGRN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAGG has higher volatility (0.82%) compared to BGRN (0.70%). In terms of maximum drawdown, IAGG dropped -13.88% vs BGRN's -19.16%.
On 5-year performance, IAGG leads with 0.79% vs -0.01% for BGRN. On fees, IAGG is cheaper at 0.07% per year. On volatility, BGRN has been the lower-risk option at 0.70%. 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 0.79% return vs -0.01%. 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 BGRN.
IAGG has the higher dividend yield at 4.53%, compared with 3.97% for BGRN.
IAGG tracks Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index, while BGRN tracks Bloomberg MSCI USD Green Bond Select Index. Their fees differ too: 0.07% for IAGG and 0.20% for BGRN.
BGRN currently has the higher Sharpe Ratio (0.96 vs 0.66), 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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