IBND vs. IAGG
IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and IAGG (iShares Core International 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 IAGG is a Global Bonds fund tracking the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. Both are passively managed. Over the past 10 years, IBND returned 0.56%/yr vs 2.01%/yr for IAGG. At a 0.36 correlation, their price movements are largely independent. IBND charges 0.50%/yr vs 0.07%/yr for IAGG.
Performance
IBND vs. IAGG - Performance Comparison
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Returns By Period
In the year-to-date period, IBND achieves a -2.74% return, which is significantly lower than IAGG's 1.04% return. Over the past 10 years, IBND has underperformed IAGG with an annualized return of 0.56%, while IAGG has yielded a comparatively higher 2.01% annualized return.
IBND
- 1D
- -0.68%
- 1M
- -1.81%
- 6M
- -2.62%
- YTD
- -2.74%
- 1Y
- -1.37%
- 3Y*
- 4.39%
- 5Y*
- -1.48%
- 10Y*
- 0.56%
IAGG
- 1D
- -0.34%
- 1M
- -0.17%
- 6M
- 0.50%
- YTD
- 1.04%
- 1Y
- 2.37%
- 3Y*
- 4.64%
- 5Y*
- 0.91%
- 10Y*
- 2.01%
IBND vs. IAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -2.74% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 14.84% |
IAGG iShares Core International Aggregate Bond ETF | 1.04% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 3.38% | 2.09% |
Correlation
The correlation between IBND and IAGG is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2015 | 0.36 |
Over the past year, IBND and IAGG have become more correlated (0.59) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
IBND vs. IAGG — Risk / Return Rank
IBND
IAGG
IBND vs. IAGG - 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 International Aggregate Bond ETF (IAGG). 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 | IAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.15 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.03 | -1.23 |
| Martin ratioReturn relative to average drawdown | -0.48 | 3.00 | -3.48 |
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Drawdowns
IBND vs. IAGG - Drawdown Comparison
The maximum IBND drawdown since its inception was -35.62%, which is greater than IAGG's maximum drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for IBND and IAGG.
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Drawdown Indicators
| IBND | IAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -13.88% | -21.74% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | -2.32% | -4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | -2.32% | -6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | -13.57% | -19.92% |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | -13.88% | -21.74% |
Current DrawdownCurrent decline from peak | -10.97% | -0.86% | -10.11% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -2.82% | -7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.79% | +2.05% |
Volatility
IBND vs. IAGG - Volatility Comparison
SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a higher volatility of 2.12% compared to iShares Core International Aggregate Bond ETF (IAGG) at 0.88%. This indicates that IBND's price experiences larger fluctuations and is considered to be riskier than IAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBND | IAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 0.88% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 2.51% | +3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 2.90% | +5.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 4.51% | +5.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.92% | 4.04% | +4.88% |
IBND vs. IAGG - Expense Ratio Comparison
IBND has a 0.50% expense ratio, which is higher than IAGG's 0.07% expense ratio.
Dividends
IBND vs. IAGG - Dividend Comparison
IBND's dividend yield for the trailing twelve months is around 2.81%, less than IAGG's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 4.52% | 3.08% | 4.28% | 3.55% | 2.27% | 1.16% | 1.95% | 2.82% | 3.02% | 1.74% | 1.56% | 0.13% |
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.81% | 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 IAGG have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (2.12%) compared to IAGG (0.88%). In terms of maximum drawdown, IBND dropped -35.62% vs IAGG's -13.88%.
On 10-year performance, IAGG leads with 2.01% vs 0.56% for IBND. On fees, IAGG is cheaper at 0.07% per year. On volatility, IAGG has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAGG has performed better with a 2.01% return vs 0.56%. 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 IBND.
IAGG has the higher dividend yield at 4.52%, compared with 2.81% for IBND.
IBND is categorized as Corporate Bonds, while IAGG is Global Bonds. IBND tracks Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while IAGG tracks Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for IBND and 0.07% for IAGG.
IAGG currently has the higher Sharpe Ratio (0.82 vs -0.17), 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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