NUAG vs. IBGA
NUAG (Nuveen Enhanced Yield U.S. Aggregate Bond ETF) and IBGA (iShares iBonds Dec 2044 Term Treasury ETF) are both Intermediate Core Bond funds - NUAG tracks the ICE BofA Enhanced Yield US Broad Bond while IBGA tracks the ICE 2044 Maturity US Treasury Index. Both are passively managed. Over the past year, NUAG returned 5.90% vs 5.33% for IBGA. Their correlation of 0.93 suggests significant overlap in exposure. NUAG charges 0.19%/yr vs 0.07%/yr for IBGA.
Performance
NUAG vs. IBGA - Performance Comparison
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Returns By Period
In the year-to-date period, NUAG achieves a 0.50% return, which is significantly higher than IBGA's -0.37% return.
NUAG
- 1D
- -0.19%
- 1M
- 0.41%
- YTD
- 0.50%
- 6M
- 0.32%
- 1Y
- 5.90%
- 3Y*
- 4.89%
- 5Y*
- 0.47%
- 10Y*
- —
IBGA
- 1D
- -0.41%
- 1M
- 0.62%
- YTD
- -0.37%
- 6M
- -1.42%
- 1Y
- 5.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NUAG vs. IBGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF | 0.50% | 7.37% | 2.05% |
IBGA iShares iBonds Dec 2044 Term Treasury ETF | -0.37% | 6.09% | -1.41% |
Correlation
The correlation between NUAG and IBGA is 0.91, 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 | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024 | 0.93 |
The correlation between NUAG and IBGA has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
NUAG vs. IBGA — Risk / Return Rank
NUAG
IBGA
NUAG vs. IBGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) and iShares iBonds Dec 2044 Term Treasury ETF (IBGA). 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.
| NUAG | IBGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.11 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 0.81 | +1.52 |
| Martin ratioReturn relative to average drawdown | 7.06 | 2.23 | +4.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NUAG | IBGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 0.65 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.22 | +0.09 |
Drawdowns
NUAG vs. IBGA - Drawdown Comparison
The maximum NUAG drawdown since its inception was -19.79%, which is greater than IBGA's maximum drawdown of -11.69%. Use the drawdown chart below to compare losses from any high point for NUAG and IBGA.
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Drawdown Indicators
| NUAG | IBGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.79% | -11.69% | -8.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -6.60% | +4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.19% | — | — |
Current DrawdownCurrent decline from peak | -1.23% | -4.67% | +3.44% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -5.05% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 2.40% | -1.56% |
Volatility
NUAG vs. IBGA - Volatility Comparison
The current volatility for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) is 1.15%, while iShares iBonds Dec 2044 Term Treasury ETF (IBGA) has a volatility of 2.59%. This indicates that NUAG experiences smaller price fluctuations and is considered to be less risky than IBGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUAG | IBGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 2.59% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.59% | 5.68% | -3.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 8.21% | -4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 9.86% | -3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 9.86% | -4.37% |
NUAG vs. IBGA - Expense Ratio Comparison
NUAG has a 0.19% expense ratio, which is higher than IBGA's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NUAG vs. IBGA - Dividend Comparison
NUAG's dividend yield for the trailing twelve months is around 4.50%, less than IBGA's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBGA iShares iBonds Dec 2044 Term Treasury ETF | 4.66% | 4.49% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF | 4.50% | 4.43% | 4.44% | 3.95% | 3.60% | 2.27% | 2.93% | 3.54% | 3.79% | 3.38% | 0.48% |
Frequently Asked Questions
With a correlation of 0.91, NUAG and IBGA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IBGA has higher volatility (2.59%) compared to NUAG (1.15%). In terms of maximum drawdown, NUAG dropped -19.79% vs IBGA's -11.69%.
On 1-year performance, NUAG leads with 5.90% vs 5.33% for IBGA. On fees, IBGA is cheaper at 0.07% per year. On volatility, NUAG has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NUAG has performed better with a 5.90% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGA is cheaper with a 0.07% expense ratio, compared with 0.19% for NUAG.
IBGA has the higher dividend yield at 4.66%, compared with 4.50% for NUAG.
NUAG tracks ICE BofA Enhanced Yield US Broad Bond, while IBGA tracks ICE 2044 Maturity US Treasury Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.19% for NUAG and 0.07% for IBGA.
NUAG currently has the higher Sharpe Ratio (1.65 vs 0.65), 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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