XAGG.TO vs. BKAG
XAGG.TO (iShares U.S. Aggregate Bond Index ETF) and BKAG (BNY Mellon Core Bond ETF) are both Total Bond Market funds - XAGG.TO tracks the Bloomberg US Aggregate Bond Index while BKAG tracks the Bloomberg US Aggregate Total Return Index. Both are passively managed. Over the past 3 years, XAGG.TO returned 5.35%/yr vs 5.96%/yr for BKAG. At a 0.26 correlation, their price movements are largely independent. XAGG.TO charges 0.10%/yr vs 0.00%/yr for BKAG.
Performance
XAGG.TO vs. BKAG - Performance Comparison
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Different Trading Currencies
XAGG.TO is traded in CAD, while BKAG is traded in USD. To make them comparable, the BKAG values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XAGG.TO achieves a 2.48% return, which is significantly lower than BKAG's 2.72% return.
XAGG.TO
- 1D
- 0.03%
- 1M
- -0.68%
- 6M
- 0.83%
- YTD
- 2.48%
- 1Y
- 6.31%
- 3Y*
- 5.35%
- 5Y*
- —
- 10Y*
- —
BKAG
- 1D
- -0.07%
- 1M
- 0.17%
- 6M
- 1.08%
- YTD
- 2.72%
- 1Y
- 6.81%
- 3Y*
- 5.96%
- 5Y*
- 1.99%
- 10Y*
- —
XAGG.TO vs. BKAG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XAGG.TO iShares U.S. Aggregate Bond Index ETF | 2.48% | 1.66% | 10.15% | 1.14% | -6.66% | 1.36% |
BKAG BNY Mellon Core Bond ETF | 2.72% | 2.33% | 9.74% | 3.16% | -7.79% | 0.65% |
Correlation
The correlation between XAGG.TO and BKAG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021 | 0.26 |
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Return for Risk
XAGG.TO vs. BKAG — Risk / Return Rank
XAGG.TO
BKAG
XAGG.TO vs. BKAG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aggregate Bond Index ETF (XAGG.TO) and BNY Mellon Core Bond ETF (BKAG). 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.
| XAGG.TO | BKAG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.52 | +0.07 |
| Martin ratioReturn relative to average drawdown | 3.58 | 3.34 | +0.24 |
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Drawdowns
XAGG.TO vs. BKAG - Drawdown Comparison
The maximum XAGG.TO drawdown since its inception was -12.65%, smaller than the maximum BKAG drawdown of -19.93%. Use the drawdown chart below to compare losses from any high point for XAGG.TO and BKAG.
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Drawdown Indicators
| XAGG.TO | BKAG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.65% | -19.93% | +7.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -4.50% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.64% | -6.46% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.28% | — |
Current DrawdownCurrent decline from peak | -2.01% | -2.20% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -5.22% | -9.74% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.04% | -0.12% |
Volatility
XAGG.TO vs. BKAG - Volatility Comparison
The current volatility for iShares U.S. Aggregate Bond Index ETF (XAGG.TO) is 1.46%, while BNY Mellon Core Bond ETF (BKAG) has a volatility of 1.71%. This indicates that XAGG.TO experiences smaller price fluctuations and is considered to be less risky than BKAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAGG.TO | BKAG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.71% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.17% | 4.20% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 5.86% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.03% | 8.62% | -1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.03% | 8.43% | -1.40% |
XAGG.TO vs. BKAG - Expense Ratio Comparison
XAGG.TO has a 0.10% expense ratio, which is higher than BKAG's 0.00% 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
XAGG.TO vs. BKAG - Dividend Comparison
XAGG.TO's dividend yield for the trailing twelve months is around 4.10%, less than BKAG's 4.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BKAG BNY Mellon Core Bond ETF | 4.29% | 4.17% | 4.26% | 3.33% | 2.49% | 1.55% | 1.16% |
XAGG.TO iShares U.S. Aggregate Bond Index ETF | 4.10% | 3.87% | 3.07% | 2.59% | 1.67% | 1.04% | 0.00% |
Frequently Asked Questions
XAGG.TO and BKAG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BKAG is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BKAG is cheaper with a 0.00% expense ratio, compared with 0.10% for XAGG.TO.
XAGG.TO tracks Bloomberg US Aggregate Bond Index, while BKAG tracks Bloomberg US Aggregate Total Return Index. They also come from different issuers: iShares and BNY Mellon. Their fees differ too: 0.10% for XAGG.TO and 0.00% for BKAG.
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