IBGA vs. BBAG
IBGA (iShares iBonds Dec 2044 Term Treasury ETF) and BBAG (JPMorgan BetaBuilders U.S. Aggregate Bond ETF) are both Intermediate Core Bond funds - IBGA tracks the ICE 2044 Maturity US Treasury Index while BBAG tracks the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past year, IBGA returned 4.16% vs 4.36% for BBAG. Their correlation of 0.93 suggests significant overlap in exposure. IBGA charges 0.07%/yr vs 0.03%/yr for BBAG.
Performance
IBGA vs. BBAG - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IBGA having a 0.45% return and BBAG slightly higher at 0.46%.
IBGA
- 1D
- 0.16%
- 1M
- 1.86%
- YTD
- 0.45%
- 6M
- 0.38%
- 1Y
- 4.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BBAG
- 1D
- 0.13%
- 1M
- 0.76%
- YTD
- 0.46%
- 6M
- 0.63%
- 1Y
- 4.36%
- 3Y*
- 3.91%
- 5Y*
- -0.02%
- 10Y*
- —
IBGA vs. BBAG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBGA iShares iBonds Dec 2044 Term Treasury ETF | 0.45% | 6.09% | -2.18% |
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF | 0.46% | 7.27% | 2.14% |
Correlation
The correlation between IBGA and BBAG is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | 0.93 |
The correlation between IBGA and BBAG has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
IBGA vs. BBAG — Risk / Return Rank
IBGA
BBAG
IBGA vs. BBAG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2044 Term Treasury ETF (IBGA) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG). 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.
| IBGA | BBAG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.20 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 1.58 | -0.94 |
| Martin ratioReturn relative to average drawdown | 1.64 | 4.42 | -2.78 |
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Drawdowns
IBGA vs. BBAG - Drawdown Comparison
The maximum IBGA drawdown since its inception was -11.69%, smaller than the maximum BBAG drawdown of -18.73%. Use the drawdown chart below to compare losses from any high point for IBGA and BBAG.
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Drawdown Indicators
| IBGA | BBAG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.69% | -18.73% | +7.04% |
Max Drawdown (1Y)Largest decline over 1 year | -6.60% | -2.78% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.06% | — |
Current DrawdownCurrent decline from peak | -3.88% | -2.56% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -6.20% | +1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 0.99% | +1.55% |
Volatility
IBGA vs. BBAG - Volatility Comparison
iShares iBonds Dec 2044 Term Treasury ETF (IBGA) has a higher volatility of 1.97% compared to JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) at 1.13%. This indicates that IBGA's price experiences larger fluctuations and is considered to be riskier than BBAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGA | BBAG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 1.13% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 2.90% | +2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 3.89% | +4.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.82% | 5.93% | +3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 5.79% | +4.03% |
IBGA vs. BBAG - Expense Ratio Comparison
IBGA has a 0.07% expense ratio, which is higher than BBAG's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBGA vs. BBAG - Dividend Comparison
IBGA's dividend yield for the trailing twelve months is around 4.62%, more than BBAG's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF | 4.35% | 4.29% | 4.25% | 3.60% | 2.23% | 1.44% | 2.26% | 2.92% | 0.16% |
IBGA iShares iBonds Dec 2044 Term Treasury ETF | 4.62% | 4.49% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, IBGA and BBAG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IBGA has higher volatility (1.97%) compared to BBAG (1.13%). In terms of maximum drawdown, IBGA dropped -11.69% vs BBAG's -18.73%.
On 1-year performance, BBAG leads with 4.36% vs 4.16% for IBGA. On fees, BBAG is cheaper at 0.03% per year. On volatility, BBAG has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BBAG has performed better with a 4.36% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBAG is cheaper with a 0.03% expense ratio, compared with 0.07% for IBGA.
IBGA has the higher dividend yield at 4.62%, compared with 4.35% for BBAG.
IBGA tracks ICE 2044 Maturity US Treasury Index, while BBAG tracks Bloomberg US Aggregate Bond Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.07% for IBGA and 0.03% for BBAG.
BBAG currently has the higher Sharpe Ratio (1.13 vs 0.52), 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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