TMB vs. AGRH

Last updated Jun 5, 2026

TMB (Thornburg Multi Sector Bond ETF) and AGRH (iShares Interest Rate Hedged U.S. Aggregate Bond ETF) are both exchange-traded funds - TMB is a Multisector Bonds fund actively managed by Thornburg, while AGRH is a Ultrashort Bond fund tracking the BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross. TMB is actively managed, while AGRH is passively managed. At a 0.39 correlation, their price movements are largely independent. TMB charges 0.55%/yr vs 0.13%/yr for AGRH.

Performance

TMB vs. AGRH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Multi Sector Bond ETF (TMB) and iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMB

• 1D: 0.17%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGRH

• 1D: 0.00%
• 1M: 0.58%
• YTD: 1.78%
• 6M: 2.46%
• 1Y: 6.24%
• 3Y*: 5.92%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TMB vs. AGRH - Yearly Performance Comparison

	2026 (YTD)
TMB Thornburg Multi Sector Bond ETF	0.34%
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF	0.10%

Correlation

The correlation between TMB and AGRH is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.39

Return for Risk

TMB vs. AGRH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGRH

AGRH Risk / Return Rank: 97
AGRH Sharpe Ratio Rank: 97
AGRH Sortino Ratio Rank: 98
AGRH Omega Ratio Rank: 98
AGRH Calmar Ratio Rank: 96
AGRH Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TMB vs. AGRH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Multi Sector Bond ETF (TMB) and iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TMB	AGRH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.77	3.13	+2.64

Drawdowns

TMB vs. AGRH - Drawdown Comparison

The maximum TMB drawdown since its inception was -0.24%, smaller than the maximum AGRH drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for TMB and AGRH.

Drawdown Indicators

	TMB	AGRH	Difference
Max Drawdown Largest peak-to-trough decline	-0.24%	-1.73%	+1.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.67%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.73%	—
Current Drawdown Current decline from peak	-0.06%	-0.07%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.16%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.14%	—

Volatility

Volatility by Period

	TMB	AGRH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	1.43%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	1.78%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.46%	1.78%	+0.68%

TMB vs. AGRH - Expense Ratio Comparison

TMB has a 0.55% expense ratio, which is higher than AGRH's 0.13% expense ratio.

Dividends

TMB vs. AGRH - Dividend Comparison

TMB's dividend yield for the trailing twelve months is around 0.36%, less than AGRH's 4.18% yield.

Position	TTM	2025	2024	2023	2022
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF	4.18%	4.63%	5.17%	4.69%	1.24%
TMB Thornburg Multi Sector Bond ETF	0.36%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMB and AGRH in my portfolio?

TMB and AGRH have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMB or AGRH?

On fees, AGRH is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMB or AGRH?

AGRH is cheaper with a 0.13% expense ratio, compared with 0.55% for TMB.

Which ETF pays a higher dividend yield, TMB or AGRH?

AGRH has the higher dividend yield at 4.18%, compared with 0.36% for TMB.

What is the main difference between TMB and AGRH?

TMB is categorized as Multisector Bonds, while AGRH is Ultrashort Bond. They also come from different issuers: Thornburg and iShares. Their fees differ too: 0.55% for TMB and 0.13% for AGRH.