BAGSX vs. BKAG

Last updated Jun 24, 2026

BAGSX (Baird Aggregate Bond Fund) and BKAG (BNY Mellon Core Bond ETF) are both funds - BAGSX is a Intermediate Core Bond fund managed by Baird, while BKAG is a Total Bond Market fund tracking the Bloomberg US Aggregate Total Return Index. Over the past 5 years, BAGSX returned 0.04%/yr vs 0.05%/yr for BKAG. With a 0.95 correlation, they move nearly in lockstep. BAGSX charges 0.55%/yr vs 0.00%/yr for BKAG.

Performance

BAGSX vs. BKAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Aggregate Bond Fund (BAGSX) and BNY Mellon Core Bond ETF (BKAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAGSX achieves a 0.21% return, which is significantly lower than BKAG's 0.55% return.

BAGSX

• 1D: -0.29%
• 1M: 0.72%
• YTD: 0.21%
• 6M: 0.42%
• 1Y: 4.05%
• 3Y*: 4.14%
• 5Y*: 0.04%
• 10Y*: 1.66%

BKAG

• 1D: 0.19%
• 1M: 0.74%
• YTD: 0.55%
• 6M: 0.69%
• 1Y: 4.37%
• 3Y*: 3.97%
• 5Y*: 0.05%
• 10Y*: —

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

BAGSX vs. BKAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BAGSX Baird Aggregate Bond Fund	0.21%	7.11%	1.63%	6.12%	-13.52%	-1.74%	4.26%
BKAG BNY Mellon Core Bond ETF	0.55%	7.23%	1.17%	5.67%	-13.29%	-1.46%	2.12%

Correlation

The correlation between BAGSX and BKAG is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020	0.95

The correlation between BAGSX and BKAG has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

BAGSX vs. BKAG — Risk / Return Rank

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

BAGSX

BAGSX Risk / Return Rank: 19
BAGSX Sharpe Ratio Rank: 19
BAGSX Sortino Ratio Rank: 20
BAGSX Omega Ratio Rank: 19
BAGSX Calmar Ratio Rank: 20
BAGSX Martin Ratio Rank: 17

BKAG

BKAG Risk / Return Rank: 32
BKAG Sharpe Ratio Rank: 33
BKAG Sortino Ratio Rank: 33
BKAG Omega Ratio Rank: 31
BKAG Calmar Ratio Rank: 33
BKAG Martin Ratio Rank: 31

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.

BAGSX vs. BKAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund (BAGSX) and BNY Mellon Core Bond ETF (BKAG). 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.

	BAGSX	BKAG	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.15	+0.02
Sortino ratio: Return per unit of downside risk	1.73	1.69	+0.04
Omega ratio: Gain probability vs. loss probability	1.21	1.20	+0.01
Calmar ratio: Return relative to maximum drawdown	1.54	1.59	-0.05
Martin ratio: Return relative to average drawdown	4.27	4.43	-0.16

BAGSX vs. BKAG - Sharpe Ratio Comparison

The current BAGSX Sharpe Ratio is 1.17, which is comparable to the BKAG Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of BAGSX and BKAG, 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

BAGSX vs. BKAG - Drawdown Comparison

The maximum BAGSX drawdown since its inception was -18.97%, roughly equal to the maximum BKAG drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for BAGSX and BKAG.

Drawdown Indicators

	BAGSX	BKAG	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-18.53%	-0.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-2.76%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-6.17%	-6.04%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	-18.00%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	-18.97%	—	—
Current Drawdown Current decline from peak	-1.63%	-2.06%	+0.43%
Average Drawdown Average peak-to-trough decline	-2.52%	-7.08%	+4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	0.99%	+0.03%

Volatility

BAGSX vs. BKAG - Volatility Comparison

Baird Aggregate Bond Fund (BAGSX) has a higher volatility of 1.15% compared to BNY Mellon Core Bond ETF (BKAG) at 1.05%. This indicates that BAGSX's price experiences larger fluctuations and is considered to be riskier than BKAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAGSX	BKAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	1.05%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	2.81%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.74%	3.82%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.93%	6.02%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.90%	5.54%	-0.64%

BAGSX vs. BKAG - Expense Ratio Comparison

BAGSX has a 0.55% expense ratio, which is higher than BKAG's 0.00% expense ratio.

Dividends

BAGSX vs. BKAG - Dividend Comparison

BAGSX's dividend yield for the trailing twelve months is around 3.81%, less than BKAG's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAGSX Baird Aggregate Bond Fund	3.81%	3.69%	3.62%	3.10%	2.33%	1.68%	3.02%	2.41%	2.53%	2.21%	1.96%	2.14%
BKAG BNY Mellon Core Bond ETF	4.23%	4.17%	4.26%	3.33%	2.49%	1.55%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BAGSX and BKAG in my portfolio?

With a correlation of 0.94, BAGSX and BKAG 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.

Which is riskier, BAGSX or BKAG?

BAGSX has higher volatility (1.15%) compared to BKAG (1.05%). In terms of maximum drawdown, BAGSX dropped -18.97% vs BKAG's -18.53%.

Which has better risk-adjusted returns?

BAGSX currently has the higher Sharpe Ratio (1.17 vs 1.15), 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.