BAGIX vs. FIKQX
BAGIX (Baird Aggregate Bond Fund Class I) and FIKQX (Fidelity Advisor Investment Grade Bond Fund Class Z) are both Total Bond Market funds. Over the past 5 years, BAGIX returned 0.28%/yr vs 0.19%/yr for FIKQX. Their correlation of 0.93 suggests significant overlap in exposure. BAGIX charges 0.30%/yr vs 0.36%/yr for FIKQX.
Performance
BAGIX vs. FIKQX - Performance Comparison
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Returns By Period
In the year-to-date period, BAGIX achieves a 0.32% return, which is significantly higher than FIKQX's 0.10% return.
BAGIX
- 1D
- -0.30%
- 1M
- 0.67%
- YTD
- 0.32%
- 6M
- 0.57%
- 1Y
- 4.29%
- 3Y*
- 4.38%
- 5Y*
- 0.28%
- 10Y*
- 1.90%
FIKQX
- 1D
- -0.28%
- 1M
- 0.62%
- YTD
- 0.10%
- 6M
- 0.43%
- 1Y
- 4.06%
- 3Y*
- 4.25%
- 5Y*
- 0.19%
- 10Y*
- —
BAGIX vs. FIKQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 0.32% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | 1.99% |
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | 0.10% | 7.31% | 1.69% | 6.75% | -13.97% | -1.03% | 10.00% | 9.90% | 2.01% |
Correlation
The correlation between BAGIX and FIKQX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.93 |
The correlation between BAGIX and FIKQX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
BAGIX vs. FIKQX — Risk / Return Rank
BAGIX
FIKQX
BAGIX vs. FIKQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund Class I (BAGIX) and Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX). 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.
| BAGIX | FIKQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.39 | +0.31 |
| Martin ratioReturn relative to average drawdown | 4.77 | 3.94 | +0.83 |
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Drawdowns
BAGIX vs. FIKQX - Drawdown Comparison
The maximum BAGIX drawdown since its inception was -18.62%, roughly equal to the maximum FIKQX drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for BAGIX and FIKQX.
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Drawdown Indicators
| BAGIX | FIKQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.62% | -18.53% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -3.13% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -6.05% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -18.53% | -0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -18.62% | — | — |
Current DrawdownCurrent decline from peak | -1.46% | -1.85% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -5.19% | +2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.11% | -0.14% |
Volatility
BAGIX vs. FIKQX - Volatility Comparison
Baird Aggregate Bond Fund Class I (BAGIX) and Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX) have volatilities of 1.10% and 1.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGIX | FIKQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.08% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 2.81% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 3.87% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 6.00% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 5.48% | -0.59% |
BAGIX vs. FIKQX - Expense Ratio Comparison
BAGIX has a 0.30% expense ratio, which is lower than FIKQX's 0.36% expense ratio.
Dividends
BAGIX vs. FIKQX - Dividend Comparison
BAGIX's dividend yield for the trailing twelve months is around 4.24%, more than FIKQX's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 4.24% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | 4.02% | 3.97% | 4.08% | 3.65% | 2.05% | 1.44% | 4.90% | 2.83% | 1.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, BAGIX and FIKQX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BAGIX has higher volatility (1.10%) compared to FIKQX (1.08%). In terms of maximum drawdown, BAGIX dropped -18.62% vs FIKQX's -18.53%.
BAGIX currently has the higher Sharpe Ratio (1.24 vs 1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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