BAGIX vs. IEMG
BAGIX (Baird Aggregate Bond Fund Class I) and IEMG (iShares Core MSCI Emerging Markets ETF) are both funds - BAGIX is a Total Bond Market fund managed by Baird, while IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, BAGIX returned 1.94%/yr vs 10.42%/yr for IEMG. At a correlation of -0.02, they often move in opposite directions. BAGIX charges 0.30%/yr vs 0.09%/yr for IEMG.
Performance
BAGIX vs. IEMG - Performance Comparison
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Returns By Period
In the year-to-date period, BAGIX achieves a 0.53% return, which is significantly lower than IEMG's 22.84% return. Over the past 10 years, BAGIX has underperformed IEMG with an annualized return of 1.94%, while IEMG has yielded a comparatively higher 10.42% annualized return.
BAGIX
- 1D
- 0.51%
- 1M
- 1.19%
- YTD
- 0.53%
- 6M
- 1.08%
- 1Y
- 5.04%
- 3Y*
- 4.52%
- 5Y*
- 0.29%
- 10Y*
- 1.94%
IEMG
- 1D
- 0.61%
- 1M
- 0.34%
- YTD
- 22.84%
- 6M
- 25.59%
- 1Y
- 44.83%
- 3Y*
- 21.33%
- 5Y*
- 7.15%
- 10Y*
- 10.42%
BAGIX vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 0.53% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
IEMG iShares Core MSCI Emerging Markets ETF | 22.84% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
Correlation
The correlation between BAGIX and IEMG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | -0.02 |
The correlation between BAGIX and IEMG shifts across timeframes, from -0.02 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BAGIX vs. IEMG — Risk / Return Rank
BAGIX
IEMG
BAGIX vs. IEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund Class I (BAGIX) and iShares Core MSCI Emerging Markets ETF (IEMG). 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 | IEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.39 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 3.23 | -1.37 |
| Martin ratioReturn relative to average drawdown | 5.32 | 11.89 | -6.57 |
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Drawdowns
BAGIX vs. IEMG - Drawdown Comparison
The maximum BAGIX drawdown since its inception was -18.62%, smaller than the maximum IEMG drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for BAGIX and IEMG.
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Drawdown Indicators
| BAGIX | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.62% | -38.71% | +20.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -13.21% | +10.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -17.21% | +11.16% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -35.75% | +17.15% |
Max Drawdown (10Y)Largest decline over 10 years | -18.62% | -38.71% | +20.09% |
Current DrawdownCurrent decline from peak | -1.26% | -3.98% | +2.72% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -12.95% | +10.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 3.59% | -2.64% |
Volatility
BAGIX vs. IEMG - Volatility Comparison
The current volatility for Baird Aggregate Bond Fund Class I (BAGIX) is 1.26%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.60%. This indicates that BAGIX experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGIX | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 10.60% | -9.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 18.89% | -16.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 21.08% | -17.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 18.73% | -12.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 20.17% | -15.28% |
BAGIX vs. IEMG - Expense Ratio Comparison
BAGIX has a 0.30% expense ratio, which is higher than IEMG's 0.09% expense ratio.
Dividends
BAGIX vs. IEMG - Dividend Comparison
BAGIX's dividend yield for the trailing twelve months is around 4.23%, more than IEMG's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 4.23% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.24% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
BAGIX and IEMG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMG has higher volatility (10.60%) compared to BAGIX (1.26%). In terms of maximum drawdown, BAGIX dropped -18.62% vs IEMG's -38.71%.
IEMG currently has the higher Sharpe Ratio (2.03 vs 1.35), 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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