BAGSX vs. TSBIX
BAGSX (Baird Aggregate Bond Fund) and TSBIX (TIAA-CREF Core Impact Bond Fund Institutional Class) are both mutual funds - BAGSX is a Intermediate Core Bond fund managed by Baird, while TSBIX is a Total Bond Market fund managed by TIAA Investments. Over the past 10 years, BAGSX returned 1.66%/yr vs 2.05%/yr for TSBIX. Their correlation of 0.92 suggests significant overlap in exposure. BAGSX charges 0.55%/yr vs 0.35%/yr for TSBIX.
Performance
BAGSX vs. TSBIX - Performance Comparison
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Returns By Period
In the year-to-date period, BAGSX achieves a 0.21% return, which is significantly lower than TSBIX's 0.46% return. Over the past 10 years, BAGSX has underperformed TSBIX with an annualized return of 1.66%, while TSBIX has yielded a comparatively higher 2.05% annualized 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%
TSBIX
- 1D
- -0.22%
- 1M
- 0.69%
- YTD
- 0.46%
- 6M
- 1.20%
- 1Y
- 5.39%
- 3Y*
- 5.28%
- 5Y*
- 0.52%
- 10Y*
- 2.05%
BAGSX vs. TSBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAGSX Baird Aggregate Bond Fund | 0.21% | 7.11% | 1.63% | 6.12% | -13.52% | -1.74% | 8.42% | 9.17% | -0.55% | 3.90% |
TSBIX TIAA-CREF Core Impact Bond Fund Institutional Class | 0.46% | 8.69% | 3.32% | 6.05% | -14.43% | -1.03% | 7.43% | 8.94% | 0.08% | 4.52% |
Correlation
The correlation between BAGSX and TSBIX is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012 | 0.92 |
The correlation between BAGSX and TSBIX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
BAGSX vs. TSBIX — Risk / Return Rank
BAGSX
TSBIX
BAGSX vs. TSBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund (BAGSX) and TIAA-CREF Core Impact Bond Fund Institutional Class (TSBIX). 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 | TSBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 1.98 | -0.44 |
| Martin ratioReturn relative to average drawdown | 4.27 | 5.59 | -1.32 |
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Drawdowns
BAGSX vs. TSBIX - Drawdown Comparison
The maximum BAGSX drawdown since its inception was -18.97%, roughly equal to the maximum TSBIX drawdown of -19.21%. Use the drawdown chart below to compare losses from any high point for BAGSX and TSBIX.
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Drawdown Indicators
| BAGSX | TSBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.97% | -19.21% | +0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -2.87% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -6.11% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | -19.21% | +0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -18.97% | -19.21% | +0.24% |
Current DrawdownCurrent decline from peak | -1.63% | -1.54% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -3.55% | +1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.01% | +0.01% |
Volatility
BAGSX vs. TSBIX - Volatility Comparison
Baird Aggregate Bond Fund (BAGSX) has a higher volatility of 1.15% compared to TIAA-CREF Core Impact Bond Fund Institutional Class (TSBIX) at 1.09%. This indicates that BAGSX's price experiences larger fluctuations and is considered to be riskier than TSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGSX | TSBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.09% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.86% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.83% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 5.84% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 4.85% | +0.05% |
BAGSX vs. TSBIX - Expense Ratio Comparison
BAGSX has a 0.55% expense ratio, which is higher than TSBIX's 0.35% expense ratio.
Dividends
BAGSX vs. TSBIX - Dividend Comparison
BAGSX's dividend yield for the trailing twelve months is around 3.81%, less than TSBIX's 4.73% 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% |
TSBIX TIAA-CREF Core Impact Bond Fund Institutional Class | 4.73% | 5.38% | 5.10% | 3.77% | 2.31% | 1.69% | 4.56% | 3.68% | 2.63% | 2.45% | 3.19% | 2.89% |
Frequently Asked Questions
With a correlation of 0.90, BAGSX and TSBIX 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.
BAGSX has higher volatility (1.15%) compared to TSBIX (1.09%). In terms of maximum drawdown, BAGSX dropped -18.97% vs TSBIX's -19.21%.
TSBIX currently has the higher Sharpe Ratio (1.48 vs 1.17), 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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