AGZvsMBNDETF Comparison
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iShares Agency Bond ETF (AGZ) belongs to the MBS & ABS segment. State Street SPDR Nuveen Municipal Bond ETF (MBND) is part of the Municipal Bonds segment. AGZ's top 3 sector exposures are Government Agencies, Utilities and Sovereign. In contrast, MBND's top sector exposures are Municipal. AGZ is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.4% for MBND. AGZ is up 0.26% year-to-date (YTD) with +$70M in YTD flows. MBND performs worse with -0.68% YTD performance, and - in YTD flows. Run a side-by-side ETF comparison of AGZ and MBND below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AGZ vs MBND performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AGZ MBND | -0.07%-0.45% | -0.10%-1.39% | +0.26%-0.68% | +1.92%+2.75% | +12.88%+10.21% | +4.99%+0.73% |
| Flows | AGZ MBND | +$70M- | +$87M- | +$70M- | +$26M-$1M | -$33M-$16M | -$201M-$15M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AGZ MBND | +2.21%+2.31% | +2.09%+2.24% | +2.63%+3.52% | +3.25%+3.35% |
| Max drawdown | AGZ MBND | -0.73%-1.98% | -1.49%-2.53% | -1.85%-5.17% | -10.56%-13.56% |
| Max drawdown duration | AGZ MBND | 64d57d | 184d184d | 161d190d | 1094d1456d |
Trading data
AGZ | MBND | |
Last sale 9/2/2026 at 1:30 PM | $108.05 | $26.58 |
| Previous close 09/01/2026 | $107.94 | $26.56 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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MBND
is actively managed and doesn’t replicate an indexAGZ | MBND | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
AGZ | MBND | |
|---|---|---|
| Last price | $108.05 | $26.58 |
| 1D performance | +0.10% | +0.08% |
| AuM | $629.92 M | $26.72 M |
| E/R | 0.15% | 0.4% |
Characteristics
AGZ | MBND | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | State Street Investment Management |
| Benchmark | Bloomberg U.S. Aggregate Agency Index | - |
| N° of holdings | 101 | 23 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 5, 2008 | February 4, 2021 |
| ESG | No | No |
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Exposure
Countries
AGZ
USA
99.22%
Other
0.78%
MBND
USA
28.34%
Other
71.66%
Sectors
AGZ
Government Agenci.
83.76%
Utilities
11.5%
Other
4.75%
MBND
Municipal
28.34%
Other
71.66%
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Diversification
AGZ
Total weight of top 15 holdings out of 15
58.28%
MBND
Total weight of top 15 holdings out of 15
36.72%
Top 15 holdings
Data as of July 31, 2026
AGZ
Fannie Mae, 0.75% 8oct2027, USD
13.06%
FHLB, 3.5% 4oct2027, USD (8384)
5.59%
Fannie Mae, 6.625% 15nov2030, USD
5.54%
Federal Farm Credit Banks, 3.625% 27aug2027, USD
4.66%
Fannie Mae, 7.125% 15jan2030, USD
4.53%
Fannie Mae, 6.25% 15may2029, USD
3.48%
FHLB, 3.5% 3mar2028, USD (8839)
3.47%
Freddie Mac, 6.25% 15jul2032, USD
3.47%
Freddie Mac, 6.75% 15mar2031, USD
2.91%
USA, Notes 4.125% 15jun2029, USD (AP-2029)
2.66%
Fannie Mae, 7.25% 15may2030, USD
2.11%
TVA, 7.125% 1may2030, USD
2.08%
Freddie Mac, 0% 14dec2029, USD (11092D)
1.59%
Federal Farm Credit Banks, 1.15% 12aug2030, USD
1.58%
Fannie Mae, 0.875% 5aug2030, USD
1.55%
MBND
US040664NJ98
2.92%
US91756SAR40
2.83%
US64971PKD68
2.74%
New Mexico, 4% 1aug2039, USD (2017A)
2.73%
US797661G828
2.55%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
2.49%
US896032AK58
2.43%
US649451KJ96
2.42%
California Community Choice Financing Authority, 5% 1sep2032, USD (2024E)
2.38%
US56035DGB29
2.37%
US346843PW94
2.33%
Georgia Municipal Electric Authority, 5% 1jan2048, USD (2019B)
2.26%
US679111E426
2.18%
US677561KM32
2.06%
US594712ZR50
2.03%
Frequently asked questions about AGZ and MBND
How have the AGZ and MBND ETFs performed in 2026?
As of September 1, 2026, AGZ is up 0.26% year-to-date (YTD), while MBND has lost -0.68%. That puts AGZ better performer ahead so far this year.
Which ETF is attracting more investor money: AGZ or MBND?
Year-to-date, the AGZ ETF saw +$70M in flows, compared to - for MBND.
Which ETF is more volatile: AGZ or MBND?
Over the past year, AGZ had a volatility of 2.09%, while MBND experienced 2.24%.
Which ETF is bigger: AGZ or MBND?
As of September 1, 2026, AGZ holds $629.92 M in assets under management (AUM), while MBND manages $26.72 M.
What sectors do the AGZ and MBND ETFs invest in?
AGZ leans toward sectors like Government Agencies and Utilities. Meanwhile, MBND focuses on Municipal.
What are the top holdings of the AGZ ETF and MBND ETF?
AGZ top holdings include Fannie Mae, 0.75% 8oct2027, USD, FHLB, 3.5% 4oct2027, USD (8384) and Fannie Mae, 6.625% 15nov2030, USD. MBND holds in its top three: US040664NJ98, US91756SAR40 and US64971PKD68.
Which ETF is more diversified: AGZ or MBND?
AGZ holds 101 securities with 58.28% of its assets in the top 15. MBND has 73 securities and a top 15 weight of 36.72%.
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