Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Harbor Disciplined Bond ETF (AGGS)
$39.18+0.07 (+0.17%)
- 0.35%
- $38M
- −1.3%
- 5.35%
- 0M sh
- $38.94
- low $38.50high $42.14
The ETF.net AGGS Grade
B
Score 56 out of 100
- 71 of 117
Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C46 out of 100Rank 61 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B63 out of 100Rank 26 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F4 out of 100Rank 115 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B60 out of 100Rank 59 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D37 out of 100Rank 90 of 117
Our read on AGGS
BHarbor hands the keys to Income Research + Management, a Boston bond boutique whose day job is institutional money, and lets it run an active core bond book at a price near the middle of an index-dominated pack.
The Fund seeks total return.
Why people hold it
- Subadvised since its 2024 launch by Income Research + Management, an independent fixed income firm that manages bond portfolios for institutional and private clients.sec.govharborcapital.com
- At 0.35%, it charges about what the typical aggregate-bond ETF does, which is unusual for a portfolio picked bond by bond rather than copied from an index.
- Pays monthly across roughly 200 positions, so income lands on a steady cadence instead of quarterly lumps.
- Stays in its lane: total return from a diversified book of mostly US dollar bonds, matching what the prospectus describes.
Worth knowing
- Thinly traded on a small asset base, so bid-ask spreads can run wider than the giant index bond funds.
- Index rivals BND, SPAB and SCHZ charge 0.03%, so the active work here starts with a real fee gap to make up.
- Launched in 2024, so the track record is short and covers a narrow slice of rate history.
AGGS Holdings
- Bonds
- 298
- 19%
- Us Treasury N/B 4.63% 02/15/2046
AGGS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
AGGS$9,867
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | AGGS |
|---|---|
| Year to date | −1.9% |
| 1 month | −1.0% |
| 3 months | −2.2% |
| 1 year | −1.3% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | AGGS |
|---|---|---|
| 2026 YTD | −1.9% | |
| 2025 | +7.4% | |
| 2024 | +4.2% |
AGGS in the news
AGGS Dividends
- 5.35%
- $2.09
- $0.15 per share
- Monthly
Distribution history
AGGS Risk
- 4.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.20
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −4.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.13
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
AGGS Cost
0.35%
AGGS0.35%
- The middle half of US Aggregate Bond funds
- Median 0.34%
57 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BCPLSAlliance Bernstein - AB Core Plus Bond ETFExpense ratio 0.30%1 year return −2.4%
- BTOTLState Street DoubleLine Total Return Tactical ETFExpense ratio 0.55%1 year return −2.6%
- CBKFIBNY Mellon Active Core Bond ETFExpense ratio 0.40%1 year return —
- CUCONFirst Trust Smith Unconstrained Bond ETFExpense ratio 0.86%1 year return −1.0%
- CBCPLBNY Mellon Core Plus ETFExpense ratio 0.40%1 year return —