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IAGG vs. HYGI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAGG vs. HYGI

Last updated Jun 9, 2026

IAGG (iShares Core International Aggregate Bond ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - IAGG is a Global Bonds fund tracking the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index, while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.34 correlation, their price movements are largely independent. IAGG charges 0.07%/yr vs 0.52%/yr for HYGI.

Performance

IAGG vs. HYGI - Performance Comparison

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

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Returns By Period

IAGG

1D
-0.14%
1M
-0.18%
YTD
0.72%
6M
0.87%
1Y
2.26%
3Y*
4.55%
5Y*
1.05%
10Y*
2.12%

HYGI

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAGG vs. HYGI - Yearly Performance Comparison

2026 (YTD)2025202420232022
IAGG
iShares Core International Aggregate Bond ETF		0.72%3.26%4.51%8.49%-2.06%
HYGI
iShares Inflation Hedged High Yield Bond ETF		0.00%6.20%9.16%11.71%0.65%

Correlation

The correlation between IAGG and HYGI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jun 27, 2022

0.34

Over the past year, the correlation between IAGG and HYGI has dropped to 0.14 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

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iShares Core International Aggregate Bond ETF

iShares Inflation Hedged High Yield Bond ETF

Often compared with IAGG:
IAGG vs. BNDXIAGG vs. AGGIAGG vs. IBNDIAGG vs. IUSBIAGG vs. FBIIXIAGG vs. BWXIAGG vs. BND
Often compared with HYGI:
HYGI vs. HYGHYGI vs. SHYGHYGI vs. SHVHYGI vs. AGGHYGI vs. FIPDXHYGI vs. SPHYHYGI vs. LNG

Return for Risk

IAGG vs. HYGI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAGG
IAGG Risk / Return Rank: 2424
Overall Rank
IAGG Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
IAGG Sortino Ratio Rank: 2323
Sortino Ratio Rank
IAGG Omega Ratio Rank: 2323
Omega Ratio Rank
IAGG Calmar Ratio Rank: 2323
Calmar Ratio Rank
IAGG Martin Ratio Rank: 2424
Martin Ratio Rank
HYGI
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.

IAGG vs. HYGI - Risk-Adjusted Trends Comparison

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

IAGGHYGIDifference
Sharpe ratioReturn per unit of total volatility
0.80

—

—

Sortino ratioReturn per unit of downside risk
1.17

—

—

Omega ratioGain probability vs. loss probability

1.14

—

—

Calmar ratioReturn relative to maximum drawdown

0.98

—

—

Martin ratioReturn relative to average drawdown

2.91

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAGG vs. HYGI - Sharpe Ratio Comparison

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Sharpe Ratios by Period

IAGGHYGIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.80

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.23

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

—

—

Drawdowns

IAGG vs. HYGI - Drawdown Comparison

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Drawdown Indicators

IAGGHYGIDifference

Max Drawdown

Largest peak-to-trough decline

-13.88%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-2.32%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-2.32%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-13.57%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-13.88%

—

—

Current Drawdown

Current decline from peak

-1.18%

—

—

Average Drawdown

Average peak-to-trough decline

-2.84%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.78%

—

—

Volatility

IAGG vs. HYGI - Volatility Comparison

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Volatility by Period

IAGGHYGIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.09%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

2.41%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

2.84%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.51%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.05%

—

—

IAGG vs. HYGI - Expense Ratio Comparison

IAGG has a 0.07% expense ratio, which is lower than HYGI's 0.52% expense ratio.

Dividends

IAGG vs. HYGI - Dividend Comparison

IAGG's dividend yield for the trailing twelve months is around 3.67%, while HYGI has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
IAGG
iShares Core International Aggregate Bond ETF		3.67%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 HYGI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IAGG is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IAGG is cheaper with a 0.07% expense ratio, compared with 0.52% for HYGI.

IAGG has the higher dividend yield at 3.67%, compared with 0.97% for HYGI.

IAGG is categorized as Global Bonds, while HYGI is Inflation-Protected Bonds. IAGG tracks Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.07% for IAGG and 0.52% for HYGI.

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