LIRAX vs. AGG
LIRAX (BlackRock LifePath Index Retirement Fund Investor A Shares) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - LIRAX is a Target Retirement Date fund managed by BlackRock, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 10 years, LIRAX returned 5.66%/yr vs 1.57%/yr for AGG. At a 0.33 correlation, their price movements are largely independent. LIRAX charges 0.44%/yr vs 0.03%/yr for AGG.
Performance
LIRAX vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, LIRAX achieves a 4.83% return, which is significantly higher than AGG's 0.52% return. Over the past 10 years, LIRAX has outperformed AGG with an annualized return of 5.66%, while AGG has yielded a comparatively lower 1.57% annualized return.
LIRAX
- 1D
- 1.17%
- 1M
- -0.00%
- YTD
- 4.83%
- 6M
- 5.33%
- 1Y
- 12.84%
- 3Y*
- 9.39%
- 5Y*
- 3.57%
- 10Y*
- 5.66%
AGG
- 1D
- -0.12%
- 1M
- 0.46%
- YTD
- 0.52%
- 6M
- 0.93%
- 1Y
- 4.87%
- 3Y*
- 4.19%
- 5Y*
- 0.06%
- 10Y*
- 1.57%
LIRAX vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares | 4.83% | 12.09% | 5.84% | 11.22% | -15.49% | 6.42% | 11.05% | 15.60% | -3.79% | 10.43% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.52% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between LIRAX and AGG is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since May 31, 2011 | 0.33 |
Over the past year, LIRAX and AGG have become more correlated (0.65) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
LIRAX vs. AGG — Risk / Return Rank
LIRAX
AGG
LIRAX vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX) 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.
| LIRAX | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.21 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.63 | +1.31 |
| Martin ratioReturn relative to average drawdown | 12.83 | 4.82 | +8.01 |
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Drawdowns
LIRAX vs. AGG - Drawdown Comparison
The maximum LIRAX drawdown since its inception was -20.67%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for LIRAX and AGG.
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Drawdown Indicators
| LIRAX | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.67% | -18.43% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -2.76% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -7.63% | -6.11% | -1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -20.67% | -17.82% | -2.85% |
Max Drawdown (10Y)Largest decline over 10 years | -20.67% | -18.43% | -2.24% |
Current DrawdownCurrent decline from peak | -0.83% | -1.88% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -2.71% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.94% | +0.04% |
Volatility
LIRAX vs. AGG - Volatility Comparison
BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX) has a higher volatility of 2.57% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.37%. This indicates that LIRAX'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
| LIRAX | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 1.37% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 2.81% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 3.82% | +2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 6.09% | +1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.53% | 5.41% | +2.12% |
LIRAX vs. AGG - Expense Ratio Comparison
LIRAX has a 0.44% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
LIRAX vs. AGG - Dividend Comparison
LIRAX's dividend yield for the trailing twelve months is around 3.37%, 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% |
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares | 3.37% | 3.53% | 1.82% | 2.37% | 2.42% | 2.42% | 1.70% | 2.22% | 2.18% | 1.99% | 2.23% | 2.67% |
Frequently Asked Questions
LIRAX and AGG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LIRAX has higher volatility (2.57%) compared to AGG (1.37%). In terms of maximum drawdown, LIRAX dropped -20.67% vs AGG's -18.43%.
LIRAX currently has the higher Sharpe Ratio (2.15 vs 1.19), 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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