BAGIX vs. RSP

Last updated Jun 13, 2026

BAGIX (Baird Aggregate Bond Fund Class I) and RSP (Invesco S&P 500 Equal Weight ETF) are both funds - BAGIX is a Total Bond Market fund managed by Baird, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Over the past 10 years, BAGIX returned 1.94%/yr vs 12.15%/yr for RSP. At a correlation of -0.15, they often move in opposite directions. BAGIX charges 0.30%/yr vs 0.20%/yr for RSP.

Performance

BAGIX vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Aggregate Bond Fund Class I (BAGIX) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAGIX achieves a 0.53% return, which is significantly lower than RSP's 10.96% return. Over the past 10 years, BAGIX has underperformed RSP with an annualized return of 1.94%, while RSP has yielded a comparatively higher 12.15% 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%

RSP

• 1D: 0.91%
• 1M: 3.92%
• YTD: 10.96%
• 6M: 10.34%
• 1Y: 21.34%
• 3Y*: 14.66%
• 5Y*: 8.59%
• 10Y*: 12.15%

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

BAGIX vs. RSP - 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%
RSP Invesco S&P 500 Equal Weight ETF	10.96%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%

Correlation

The correlation between BAGIX and RSP is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003	-0.15

The correlation between BAGIX and RSP shifts across timeframes, from -0.15 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BAGIX vs. RSP — Risk / Return Rank

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

BAGIX

BAGIX Risk / Return Rank: 34
BAGIX Sharpe Ratio Rank: 35
BAGIX Sortino Ratio Rank: 38
BAGIX Omega Ratio Rank: 33
BAGIX Calmar Ratio Rank: 36
BAGIX Martin Ratio Rank: 28

RSP

RSP Risk / Return Rank: 58
RSP Sharpe Ratio Rank: 57
RSP Sortino Ratio Rank: 59
RSP Omega Ratio Rank: 54
RSP Calmar Ratio Rank: 59
RSP Martin Ratio Rank: 62

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. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund Class I (BAGIX) and Invesco S&P 500 Equal Weight ETF (RSP). 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	RSP	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.69	-0.33
Sortino ratio: Return per unit of downside risk	2.05	2.44	-0.40
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.86	2.54	-0.69
Martin ratio: Return relative to average drawdown	5.32	9.63	-4.31

BAGIX vs. RSP - Sharpe Ratio Comparison

The current BAGIX Sharpe Ratio is 1.35, which is comparable to the RSP Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of BAGIX and RSP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BAGIX vs. RSP - Drawdown Comparison

The maximum BAGIX drawdown since its inception was -18.62%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for BAGIX and RSP.

Drawdown Indicators

	BAGIX	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-18.62%	-59.92%	+41.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-7.85%	+5.13%
Max Drawdown (3Y) Largest decline over 3 years	-6.05%	-17.81%	+11.76%
Max Drawdown (5Y) Largest decline over 5 years	-18.60%	-21.38%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	-18.62%	-39.04%	+20.42%
Current Drawdown Current decline from peak	-1.26%	0.00%	-1.26%
Average Drawdown Average peak-to-trough decline	-2.35%	-6.64%	+4.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	2.07%	-1.12%

Volatility

BAGIX vs. RSP - Volatility Comparison

The current volatility for Baird Aggregate Bond Fund Class I (BAGIX) is 1.26%, while Invesco S&P 500 Equal Weight ETF (RSP) has a volatility of 3.57%. This indicates that BAGIX experiences smaller price fluctuations and is considered to be less risky than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAGIX	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	3.57%	-2.31%
Volatility (6M) Calculated over the trailing 6-month period	2.66%	8.59%	-5.93%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	11.83%	-8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.93%	16.22%	-10.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.89%	18.36%	-13.47%

BAGIX vs. RSP - Expense Ratio Comparison

BAGIX has a 0.30% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

BAGIX vs. RSP - Dividend Comparison

BAGIX's dividend yield for the trailing twelve months is around 4.23%, more than RSP's 1.47% 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%
RSP Invesco S&P 500 Equal Weight ETF	1.47%	1.64%	1.52%	1.64%	1.82%	1.28%	1.64%	1.69%	2.02%	1.52%	1.20%	1.70%

Frequently Asked Questions

Can I hold both BAGIX and RSP in my portfolio?

BAGIX and RSP have a correlation of 0.38, 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 RSP?

RSP has higher volatility (3.57%) compared to BAGIX (1.26%). In terms of maximum drawdown, BAGIX dropped -18.62% vs RSP's -59.92%.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.69 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.