SPAB vs. AGG
SPAB (SPDR Portfolio Aggregate Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both Total Bond Market funds tracking the Bloomberg U.S. Aggregate Bond Index, from State Street and iShares respectively. Both are passively managed. Over the past 10 years, SPAB returned 1.54%/yr vs 1.57%/yr for AGG. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.
Performance
SPAB vs. AGG - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPAB having a 0.53% return and AGG slightly lower at 0.52%. Both investments have delivered pretty close results over the past 10 years, with SPAB having a 1.54% annualized return and AGG not far ahead at 1.57%.
SPAB
- 1D
- -0.08%
- 1M
- 1.06%
- YTD
- 0.53%
- 6M
- 0.89%
- 1Y
- 4.87%
- 3Y*
- 4.18%
- 5Y*
- 0.04%
- 10Y*
- 1.54%
AGG
- 1D
- -0.12%
- 1M
- 1.09%
- YTD
- 0.52%
- 6M
- 0.93%
- 1Y
- 4.87%
- 3Y*
- 4.19%
- 5Y*
- 0.06%
- 10Y*
- 1.57%
SPAB vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 0.53% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | -0.18% | 3.71% |
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 SPAB and AGG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | 0.86 |
The correlation between SPAB and AGG shifts across timeframes, from 0.86 (all time) to 0.99 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPAB vs. AGG — Risk / Return Rank
SPAB
AGG
SPAB vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) 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.
| SPAB | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.63 | +0.01 |
| Martin ratioReturn relative to average drawdown | 4.71 | 4.82 | -0.11 |
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Drawdowns
SPAB vs. AGG - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, roughly equal to the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for SPAB and AGG.
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Drawdown Indicators
| SPAB | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -18.43% | -0.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.76% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -6.11% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -17.82% | -0.14% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | -18.43% | -0.13% |
Current DrawdownCurrent decline from peak | -2.04% | -1.88% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -2.71% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.94% | +0.02% |
Volatility
SPAB vs. AGG - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.23%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.37%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky 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
| SPAB | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.37% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 2.81% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 3.82% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 6.09% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 5.41% | +0.13% |
SPAB vs. AGG - Expense Ratio Comparison
Both SPAB and AGG have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPAB vs. AGG - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.04%, 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% |
SPAB SPDR Portfolio Aggregate Bond ETF | 4.04% | 3.97% | 3.86% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.59% |
Frequently Asked Questions
With a correlation of 0.98, SPAB and AGG 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.
AGG has higher volatility (1.37%) compared to SPAB (1.23%). In terms of maximum drawdown, SPAB dropped -18.56% vs AGG's -18.43%.
On 10-year performance, AGG leads with 1.57% vs 1.54% for SPAB. Both ETFs have the same 0.03% expense ratio. On volatility, SPAB has been the lower-risk option at 1.23%. 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 1.57% return vs 1.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPAB and AGG have the same expense ratio: 0.03% per year.
SPAB has the higher dividend yield at 4.04%, compared with 3.98% for AGG.
Both ETFs track Bloomberg U.S. Aggregate Bond Index. They also come from different issuers: State Street and iShares.
SPAB currently has the higher Sharpe Ratio (1.21 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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