ISHG vs. AGG
ISHG (iShares 1-3 Year International Treasury Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, 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, ISHG returned -0.31%/yr vs 1.54%/yr for AGG. At a 0.25 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.03%/yr for AGG.
Performance
ISHG vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -1.71% return, which is significantly lower than AGG's 0.47% return. Over the past 10 years, ISHG has underperformed AGG with an annualized return of -0.31%, while AGG has yielded a comparatively higher 1.54% annualized return.
ISHG
- 1D
- -0.34%
- 1M
- -1.79%
- YTD
- -1.71%
- 6M
- -1.87%
- 1Y
- -0.16%
- 3Y*
- 3.51%
- 5Y*
- -1.12%
- 10Y*
- -0.31%
AGG
- 1D
- 0.08%
- 1M
- 0.61%
- YTD
- 0.47%
- 6M
- 0.55%
- 1Y
- 4.33%
- 3Y*
- 3.96%
- 5Y*
- 0.07%
- 10Y*
- 1.54%
ISHG vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.71% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.47% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between ISHG and AGG is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.25 |
Over the past year, ISHG and AGG have become more correlated (0.56) than their long-term average of 0.25, meaning their price movements have been converging.
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Return for Risk
ISHG vs. AGG — Risk / Return Rank
ISHG
AGG
ISHG vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) 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.
| ISHG | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.20 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 1.57 | -1.60 |
| Martin ratioReturn relative to average drawdown | -0.07 | 4.54 | -4.61 |
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Drawdowns
ISHG vs. AGG - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for ISHG and AGG.
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Drawdown Indicators
| ISHG | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -18.43% | -18.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -2.76% | -2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -6.11% | -2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -22.45% | -17.82% | -4.63% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -18.43% | -7.13% |
Current DrawdownCurrent decline from peak | -23.56% | -1.93% | -21.63% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -2.71% | -15.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 0.96% | +1.17% |
Volatility
ISHG vs. AGG - Volatility Comparison
iShares 1-3 Year International Treasury Bond ETF (ISHG) has a higher volatility of 1.78% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.10%. This indicates that ISHG'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
| ISHG | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 1.10% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 2.83% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.55% | 3.81% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 6.10% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 5.41% | +1.52% |
ISHG vs. AGG - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
ISHG vs. AGG - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.48%, 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% |
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.48% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
Frequently Asked Questions
ISHG and AGG have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISHG has higher volatility (1.78%) compared to AGG (1.10%). In terms of maximum drawdown, ISHG dropped -37.24% vs AGG's -18.43%.
On 10-year performance, AGG leads with 1.54% vs -0.31% for ISHG. On fees, AGG is cheaper at 0.03% per year. On volatility, AGG has been the lower-risk option at 1.10%. 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 1.54% return vs -0.31%. 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 0.35% for ISHG.
AGG has the higher dividend yield at 3.98%, compared with 1.48% for ISHG.
ISHG is categorized as International Government Bonds, while AGG is Total Bond Market. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.35% for ISHG and 0.03% for AGG.
AGG currently has the higher Sharpe Ratio (1.14 vs -0.02), 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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