MPHQX vs. AGG
MPHQX (BlackRock Total Return Fund Class K) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - MPHQX is a Intermediate Core-Plus Bond fund actively managed by BlackRock, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. MPHQX is actively managed, while AGG is passively managed. Over the past 10 years, MPHQX returned 2.13%/yr vs 1.54%/yr for AGG. Their correlation of 0.81 suggests significant overlap in exposure. MPHQX charges 0.37%/yr vs 0.03%/yr for AGG.
Performance
MPHQX vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, MPHQX achieves a 0.55% return, which is significantly higher than AGG's 0.47% return. Over the past 10 years, MPHQX has outperformed AGG with an annualized return of 2.13%, while AGG has yielded a comparatively lower 1.54% annualized return.
MPHQX
- 1D
- -0.40%
- 1M
- 0.89%
- YTD
- 0.55%
- 6M
- 1.05%
- 1Y
- 5.51%
- 3Y*
- 4.48%
- 5Y*
- 0.29%
- 10Y*
- 2.13%
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%
MPHQX vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPHQX BlackRock Total Return Fund Class K | 0.55% | 8.21% | 1.92% | 6.04% | -14.14% | -0.68% | 9.10% | 9.91% | -0.81% | 4.33% |
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 MPHQX and AGG is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2003 | 0.81 |
The correlation between MPHQX and AGG shifts across timeframes, from 0.81 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MPHQX vs. AGG — Risk / Return Rank
MPHQX
AGG
MPHQX vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Total Return Fund Class K (MPHQX) 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.
| MPHQX | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.57 | -0.23 |
| Martin ratioReturn relative to average drawdown | 3.43 | 4.54 | -1.10 |
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Drawdowns
MPHQX vs. AGG - Drawdown Comparison
The maximum MPHQX drawdown since its inception was -21.68%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for MPHQX and AGG.
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Drawdown Indicators
| MPHQX | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.68% | -18.43% | -3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -2.76% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.86% | -6.11% | -0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -17.82% | -1.46% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | -18.43% | -0.85% |
Current DrawdownCurrent decline from peak | -2.58% | -1.93% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -2.71% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.96% | +0.71% |
Volatility
MPHQX vs. AGG - Volatility Comparison
BlackRock Total Return Fund Class K (MPHQX) has a higher volatility of 1.30% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.10%. This indicates that MPHQX'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
| MPHQX | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.10% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 2.83% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.65% | 3.81% | +0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 6.10% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 5.41% | -0.26% |
MPHQX vs. AGG - Expense Ratio Comparison
MPHQX has a 0.37% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
MPHQX vs. AGG - Dividend Comparison
MPHQX's dividend yield for the trailing twelve months is around 4.79%, more 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% |
MPHQX BlackRock Total Return Fund Class K | 4.79% | 4.89% | 5.01% | 4.19% | 3.09% | 2.58% | 6.30% | 3.24% | 3.40% | 3.21% | 2.89% | 3.49% |
Frequently Asked Questions
MPHQX and AGG have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPHQX has higher volatility (1.30%) compared to AGG (1.10%). In terms of maximum drawdown, MPHQX dropped -21.68% vs AGG's -18.43%.
MPHQX currently has the higher Sharpe Ratio (1.24 vs 1.14), 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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