Core Insights - The iShares Core US Aggregate Bond ETF (AGG) offers lower costs, broader diversification, and slightly higher yield compared to the iShares 3-7 Year Treasury Bond ETF (IEI), despite a deeper historical drawdown [1][2] Cost and Size Comparison - AGG has an expense ratio of 0.03%, significantly lower than IEI's 0.15% - The one-year return for AGG is 4.4%, compared to IEI's 4.1% - AGG's dividend yield is 3.9%, while IEI's is 3.5% - Assets under management (AUM) for AGG is $136.5 billion, compared to IEI's $17.7 billion [3] Performance and Risk Comparison - The maximum drawdown over five years for IEI is -14.05%, while AGG's is -17.83% - Growth of $1,000 over five years would result in $903 for IEI and $857 for AGG [4] Portfolio Composition - AGG covers the total U.S. investment-grade bond market with over 13,000 securities, including significant positions in Blackrock and various Treasury Notes [5] - IEI focuses exclusively on intermediate-term U.S. Treasury bonds with 84 holdings, featuring notable exposures to specific Treasury Notes maturing in 2029 and 2030 [6] Investment Outlook - Both AGG and IEI have underperformed as income investments over the past five years, with AGG down by 0.7% and IEI yielding a mere 0.96% gain for investors who bought in early 2021 [7][8] - Future returns could improve if the Federal Reserve lowers interest rates [8]

Core Points - The U.S. stock market will be closed on Thanksgiving, November 27, 2025, and will reopen on Black Friday, November 28, 2025, with an early closure at 1 p.m. ET [10][20][21] - Normal trading hours will resume on Monday, December 1, 2025, with both NYSE and Nasdaq operating from 9:30 a.m. to 4 p.m. ET [2][16] - Key holiday dates for 2025 include early closures on November 28 and December 24, and full closures on November 27 and December 25 [4][21] Trading Environment - Early closures on Black Friday typically result in lighter trading volumes, which can lead to increased price volatility [1][13][15] - The bond market will also close early on Black Friday at 2 p.m. ET, affecting settlements for fixed-income securities [14][20] - Investors are advised to plan trades around these holiday schedules to avoid unexpected price swings and missed opportunities [17][19][20] Market Behavior - The days surrounding Thanksgiving are characterized by calm price action, with fewer economic releases and muted corporate news flow [8][22] - Retail participation tends to drop significantly during this period, leading to a higher share of turnover from algorithmic trading [9][22] - Investors should use the holiday period to review portfolios and evaluate market trends, as trading volumes may remain low even after Black Friday [18][22]