IBND vs. AGG
IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - IBND is a Corporate Bonds fund tracking the Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 10 years, IBND returned 0.73%/yr vs 1.53%/yr for AGG. At a 0.34 correlation, their price movements are largely independent. IBND charges 0.50%/yr vs 0.03%/yr for AGG.
Performance
IBND vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, IBND achieves a -1.99% return, which is significantly lower than AGG's 0.39% return. Over the past 10 years, IBND has underperformed AGG with an annualized return of 0.73%, while AGG has yielded a comparatively higher 1.53% annualized return.
IBND
- 1D
- -0.13%
- 1M
- -0.81%
- YTD
- -1.99%
- 6M
- -1.90%
- 1Y
- 0.75%
- 3Y*
- 5.84%
- 5Y*
- -1.24%
- 10Y*
- 0.73%
AGG
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.39%
- 6M
- 0.47%
- 1Y
- 4.45%
- 3Y*
- 3.94%
- 5Y*
- 0.06%
- 10Y*
- 1.53%
IBND vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -1.99% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 14.84% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.39% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between IBND and AGG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.34 |
Over the past year, IBND and AGG have become more correlated (0.60) than their long-term average of 0.34, meaning their price movements have been converging.
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Return for Risk
IBND vs. AGG — Risk / Return Rank
IBND
AGG
IBND vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| IBND | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.21 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.62 | -1.51 |
| Martin ratioReturn relative to average drawdown | 0.29 | 4.69 | -4.40 |
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Drawdowns
IBND vs. AGG - Drawdown Comparison
The maximum IBND drawdown since its inception was -35.62%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for IBND and AGG.
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Drawdown Indicators
| IBND | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -18.43% | -17.19% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | -2.76% | -3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | -6.11% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | -17.82% | -15.67% |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | -18.43% | -17.19% |
Current DrawdownCurrent decline from peak | -10.29% | -2.01% | -8.28% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -2.71% | -7.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 0.95% | +1.67% |
Volatility
IBND vs. AGG - Volatility Comparison
SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a higher volatility of 2.05% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.11%. This indicates that IBND's price experiences larger fluctuations and is considered to be riskier than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBND | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 1.11% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 2.84% | +3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.04% | 3.82% | +4.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.75% | 6.10% | +3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.95% | 5.41% | +3.54% |
IBND vs. AGG - Expense Ratio Comparison
IBND has a 0.50% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
IBND vs. AGG - Dividend Comparison
IBND's dividend yield for the trailing twelve months is around 2.76%, less than AGG's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.98% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.76% | 2.49% | 2.61% | 2.08% | 0.54% | 0.38% | 0.45% | 0.67% | 0.71% | 0.34% | 0.01% | 0.01% |
Frequently Asked Questions
IBND and AGG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (2.05%) compared to AGG (1.11%). In terms of maximum drawdown, IBND dropped -35.62% vs AGG's -18.43%.
On 10-year performance, AGG leads with 1.53% vs 0.73% for IBND. On fees, AGG is cheaper at 0.03% per year. On volatility, AGG has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AGG has performed better with a 1.53% return vs 0.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.50% for IBND.
AGG has the higher dividend yield at 3.98%, compared with 2.76% for IBND.
IBND is categorized as Corporate Bonds, while AGG is Total Bond Market. IBND tracks Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while AGG tracks Bloomberg U.S. Aggregate Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for IBND and 0.03% for AGG.
AGG currently has the higher Sharpe Ratio (1.17 vs 0.09), 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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