IAGG vs. OCIO
IAGG (iShares Core International Aggregate Bond ETF) and OCIO (ClearShares OCIO 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 OCIO is a Diversified Portfolio fund actively managed by ClearShares LLC. IAGG is passively managed, while OCIO is actively managed. Over the past 5 years, IAGG returned 1.11%/yr vs 7.46%/yr for OCIO. At a 0.13 correlation, their price movements are largely independent. IAGG charges 0.07%/yr vs 0.61%/yr for OCIO.
Performance
IAGG vs. OCIO - Performance Comparison
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Returns By Period
In the year-to-date period, IAGG achieves a 0.92% return, which is significantly lower than OCIO's 9.49% return.
IAGG
- 1D
- -0.20%
- 1M
- 0.66%
- YTD
- 0.92%
- 6M
- 0.72%
- 1Y
- 2.30%
- 3Y*
- 4.59%
- 5Y*
- 1.11%
- 10Y*
- 2.17%
OCIO
- 1D
- -0.41%
- 1M
- 4.66%
- YTD
- 9.49%
- 6M
- 9.97%
- 1Y
- 21.05%
- 3Y*
- 14.04%
- 5Y*
- 7.46%
- 10Y*
- —
IAGG vs. OCIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 0.92% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 3.38% | 1.08% |
OCIO ClearShares OCIO ETF | 9.49% | 12.68% | 12.76% | 12.03% | -12.49% | 13.20% | 11.54% | 18.56% | -10.35% | 9.00% |
Correlation
The correlation between IAGG and OCIO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2017 | 0.13 |
Over the past year, IAGG and OCIO have become more correlated (0.42) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
IAGG vs. OCIO — Risk / Return Rank
IAGG
OCIO
IAGG vs. OCIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core International Aggregate Bond ETF (IAGG) and ClearShares OCIO ETF (OCIO). 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.
| IAGG | OCIO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.40 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 3.03 | -2.03 |
| Martin ratioReturn relative to average drawdown | 2.99 | 13.42 | -10.43 |
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
| IAGG | OCIO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 2.18 | -1.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.71 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.71 | -0.09 |
Drawdowns
IAGG vs. OCIO - Drawdown Comparison
The maximum IAGG drawdown since its inception was -13.88%, smaller than the maximum OCIO drawdown of -24.21%. Use the drawdown chart below to compare losses from any high point for IAGG and OCIO.
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Drawdown Indicators
| IAGG | OCIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.88% | -24.21% | +10.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -6.98% | +4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -13.32% | +11.00% |
Max Drawdown (5Y)Largest decline over 5 years | -13.57% | -18.75% | +5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -13.88% | — | — |
Current DrawdownCurrent decline from peak | -0.98% | -0.41% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -4.44% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.57% | -0.80% |
Volatility
IAGG vs. OCIO - Volatility Comparison
The current volatility for iShares Core International Aggregate Bond ETF (IAGG) is 1.18%, while ClearShares OCIO ETF (OCIO) has a volatility of 2.94%. This indicates that IAGG experiences smaller price fluctuations and is considered to be less risky than OCIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAGG | OCIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 2.94% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 7.68% | -5.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 9.70% | -6.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 10.60% | -6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 11.36% | -7.31% |
IAGG vs. OCIO - Expense Ratio Comparison
IAGG has a 0.07% expense ratio, which is lower than OCIO's 0.61% expense ratio.
Dividends
IAGG vs. OCIO - Dividend Comparison
IAGG's dividend yield for the trailing twelve months is around 3.66%, less than OCIO's 9.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 3.66% | 3.08% | 4.28% | 3.55% | 2.27% | 1.16% | 1.95% | 2.82% | 3.02% | 1.74% | 1.56% | 0.13% |
OCIO ClearShares OCIO ETF | 9.47% | 10.27% | 1.87% | 2.32% | 3.21% | 2.83% | 2.90% | 2.22% | 0.01% | 1.68% | 0.00% | 0.00% |
Frequently Asked Questions
IAGG and OCIO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OCIO has higher volatility (2.94%) compared to IAGG (1.18%). In terms of maximum drawdown, IAGG dropped -13.88% vs OCIO's -24.21%.
On 5-year performance, OCIO leads with 7.46% vs 1.11% for IAGG. On fees, IAGG is cheaper at 0.07% per year. On volatility, IAGG has been the lower-risk option at 1.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OCIO has performed better with a 7.46% return vs 1.11%. 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 0.61% for OCIO.
OCIO has the higher dividend yield at 9.47%, compared with 3.66% for IAGG.
IAGG is categorized as Global Bonds, while OCIO is Diversified Portfolio. They also come from different issuers: iShares and ClearShares LLC. Their fees differ too: 0.07% for IAGG and 0.61% for OCIO.
OCIO currently has the higher Sharpe Ratio (2.18 vs 0.81), 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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