IAGG vs. RLY
IAGG (iShares Core International Aggregate Bond ETF) and RLY (SPDR SSgA Multi-Asset Real Return 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 RLY is a Hedge Fund fund actively managed by State Street. IAGG is passively managed, while RLY is actively managed. Over the past 10 years, IAGG returned 2.12%/yr vs 8.25%/yr for RLY. At a 0.02 correlation, their price movements are largely independent. IAGG charges 0.07%/yr vs 0.50%/yr for RLY.
Performance
IAGG vs. RLY - Performance Comparison
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Returns By Period
In the year-to-date period, IAGG achieves a 0.72% return, which is significantly lower than RLY's 14.36% return. Over the past 10 years, IAGG has underperformed RLY with an annualized return of 2.12%, while RLY has yielded a comparatively higher 8.25% annualized return.
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%
RLY
- 1D
- -0.06%
- 1M
- -2.10%
- YTD
- 14.36%
- 6M
- 16.24%
- 1Y
- 28.00%
- 3Y*
- 13.90%
- 5Y*
- 9.85%
- 10Y*
- 8.25%
IAGG vs. RLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 0.72% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 3.38% | 2.09% |
RLY SPDR SSgA Multi-Asset Real Return ETF | 14.36% | 20.26% | 2.53% | 2.56% | 7.86% | 22.85% | -0.59% | 15.63% | -11.72% | 10.40% |
Correlation
The correlation between IAGG and RLY is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2015 | 0.02 |
The correlation between IAGG and RLY shifts across timeframes, from 0.02 (all time) to 0.16 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IAGG vs. RLY — Risk / Return Rank
IAGG
RLY
IAGG vs. RLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core International Aggregate Bond ETF (IAGG) and SPDR SSgA Multi-Asset Real Return ETF (RLY). 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 | RLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.51 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 7.16 | -6.18 |
| Martin ratioReturn relative to average drawdown | 2.91 | 25.86 | -22.96 |
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 | RLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 2.73 | -1.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.73 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.60 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.36 | +0.25 |
Drawdowns
IAGG vs. RLY - Drawdown Comparison
The maximum IAGG drawdown since its inception was -13.88%, smaller than the maximum RLY drawdown of -37.75%. Use the drawdown chart below to compare losses from any high point for IAGG and RLY.
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Drawdown Indicators
| IAGG | RLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.88% | -37.75% | +23.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -3.93% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -10.08% | +7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -13.57% | -18.94% | +5.37% |
Max Drawdown (10Y)Largest decline over 10 years | -13.88% | -34.17% | +20.29% |
Current DrawdownCurrent decline from peak | -1.18% | -3.93% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -9.45% | +6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.09% | -0.31% |
Volatility
IAGG vs. RLY - Volatility Comparison
The current volatility for iShares Core International Aggregate Bond ETF (IAGG) is 1.09%, while SPDR SSgA Multi-Asset Real Return ETF (RLY) has a volatility of 3.47%. This indicates that IAGG experiences smaller price fluctuations and is considered to be less risky than RLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAGG | RLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 3.47% | -2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.41% | 8.46% | -6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 10.34% | -7.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 13.57% | -9.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 13.83% | -9.78% |
IAGG vs. RLY - Expense Ratio Comparison
IAGG has a 0.07% expense ratio, which is lower than RLY's 0.50% expense ratio.
Dividends
IAGG vs. RLY - Dividend Comparison
IAGG's dividend yield for the trailing twelve months is around 3.67%, more than RLY's 2.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RLY SPDR SSgA Multi-Asset Real Return ETF | 2.93% | 3.24% | 3.31% | 3.71% | 5.66% | 12.15% | 2.16% | 3.45% | 2.76% | 1.85% | 2.07% | 1.80% |
Frequently Asked Questions
IAGG and RLY have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RLY has higher volatility (3.47%) compared to IAGG (1.09%). In terms of maximum drawdown, IAGG dropped -13.88% vs RLY's -37.75%.
On 10-year performance, RLY leads with 8.25% vs 2.12% for IAGG. On fees, IAGG is cheaper at 0.07% per year. On volatility, IAGG has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RLY has performed better with a 8.25% return vs 2.12%. 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 0.50% for RLY.
IAGG has the higher dividend yield at 3.67%, compared with 2.93% for RLY.
IAGG is categorized as Global Bonds, while RLY is Hedge Fund. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IAGG and 0.50% for RLY.
RLY currently has the higher Sharpe Ratio (2.73 vs 0.80), 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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