BAGIX vs. HWHIX

Last updated Jun 4, 2026

BAGIX (Baird Aggregate Bond Fund Class I) and HWHIX (Hotchkis & Wiley High Yield Fund) are both mutual funds - BAGIX is a Total Bond Market fund managed by Baird, while HWHIX is a High Yield Bonds fund managed by Hotchkis & Wiley. Over the past 10 years, BAGIX returned 1.99%/yr vs 4.28%/yr for HWHIX. At a 0.11 correlation, their price movements are largely independent. BAGIX charges 0.30%/yr vs 0.70%/yr for HWHIX.

Performance

BAGIX vs. HWHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Aggregate Bond Fund Class I (BAGIX) and Hotchkis & Wiley High Yield Fund (HWHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAGIX achieves a 0.42% return, which is significantly lower than HWHIX's 1.20% return. Over the past 10 years, BAGIX has underperformed HWHIX with an annualized return of 1.99%, while HWHIX has yielded a comparatively higher 4.28% annualized return.

BAGIX

• 1D: 0.00%
• 1M: 0.57%
• YTD: 0.42%
• 6M: 0.37%
• 1Y: 5.47%
• 3Y*: 4.52%
• 5Y*: 0.45%
• 10Y*: 1.99%

HWHIX

• 1D: 0.00%
• 1M: 0.55%
• YTD: 1.20%
• 6M: 1.77%
• 1Y: 5.81%
• 3Y*: 7.63%
• 5Y*: 3.55%
• 10Y*: 4.28%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BAGIX vs. HWHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAGIX Baird Aggregate Bond Fund Class I	0.42%	7.37%	1.85%	6.42%	-13.35%	-1.46%	8.63%	9.48%	-0.31%	4.20%
HWHIX Hotchkis & Wiley High Yield Fund	1.20%	7.28%	7.23%	12.00%	-11.08%	6.25%	3.85%	9.61%	-3.37%	6.62%

Correlation

The correlation between BAGIX and HWHIX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Apr 1, 2009	0.11

Over the past year, BAGIX and HWHIX have become more correlated (0.42) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

BAGIX vs. HWHIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAGIX

BAGIX Risk / Return Rank: 26
BAGIX Sharpe Ratio Rank: 26
BAGIX Sortino Ratio Rank: 28
BAGIX Omega Ratio Rank: 25
BAGIX Calmar Ratio Rank: 29
BAGIX Martin Ratio Rank: 24

HWHIX

HWHIX Risk / Return Rank: 44
HWHIX Sharpe Ratio Rank: 37
HWHIX Sortino Ratio Rank: 49
HWHIX Omega Ratio Rank: 46
HWHIX Calmar Ratio Rank: 36
HWHIX Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAGIX vs. HWHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund Class I (BAGIX) and Hotchkis & Wiley High Yield Fund (HWHIX). 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.

	BAGIX	HWHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.76	-0.32
Sortino ratio: Return per unit of downside risk	2.18	2.94	-0.76
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.11
Calmar ratio: Return relative to maximum drawdown	2.02	2.29	-0.27
Martin ratio: Return relative to average drawdown	6.02	10.05	-4.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAGIX vs. HWHIX - Sharpe Ratio Comparison

The current BAGIX Sharpe Ratio is 1.45, which is comparable to the HWHIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of BAGIX and HWHIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BAGIX	HWHIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	1.76	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.76	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.84	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.79	+0.19

Drawdowns

BAGIX vs. HWHIX - Drawdown Comparison

The maximum BAGIX drawdown since its inception was -18.62%, smaller than the maximum HWHIX drawdown of -23.03%. Use the drawdown chart below to compare losses from any high point for BAGIX and HWHIX.

Drawdown Indicators

	BAGIX	HWHIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.62%	-23.03%	+4.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-2.64%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-6.05%	-4.08%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-18.60%	-15.02%	-3.58%
Max Drawdown (10Y) Largest decline over 10 years	-18.62%	-23.03%	+4.41%
Current Drawdown Current decline from peak	-1.36%	-0.10%	-1.26%
Average Drawdown Average peak-to-trough decline	-2.35%	-3.81%	+1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.60%	+0.31%

Volatility

BAGIX vs. HWHIX - Volatility Comparison

Baird Aggregate Bond Fund Class I (BAGIX) has a higher volatility of 1.26% compared to Hotchkis & Wiley High Yield Fund (HWHIX) at 1.16%. This indicates that BAGIX's price experiences larger fluctuations and is considered to be riskier than HWHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAGIX	HWHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	1.16%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	2.66%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	3.42%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.92%	4.70%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.89%	5.11%	-0.22%

BAGIX vs. HWHIX - Expense Ratio Comparison

BAGIX has a 0.30% expense ratio, which is lower than HWHIX's 0.70% expense ratio.

Dividends

BAGIX vs. HWHIX - Dividend Comparison

BAGIX's dividend yield for the trailing twelve months is around 4.24%, less than HWHIX's 6.36% 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%
HWHIX Hotchkis & Wiley High Yield Fund	6.36%	6.24%	6.27%	4.77%	4.03%	4.02%	5.47%	5.92%	6.24%	4.42%	0.00%	0.86%

Frequently Asked Questions

Can I hold both BAGIX and HWHIX in my portfolio?

BAGIX and HWHIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAGIX or HWHIX?

BAGIX has higher volatility (1.26%) compared to HWHIX (1.16%). In terms of maximum drawdown, BAGIX dropped -18.62% vs HWHIX's -23.03%.

Which has better risk-adjusted returns?

HWHIX currently has the higher Sharpe Ratio (1.76 vs 1.45), 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.