BBIIX vs. BBBIX

Last updated Jun 23, 2026

BBIIX (BBH Intermediate Municipal Bond Fund) and BBBIX (BBH Limited Duration Fund) are both mutual funds - BBIIX is a Municipal Bonds fund managed by BBH, while BBBIX is a Ultrashort Bond fund managed by BBH. Over the past 10 years, BBIIX returned 2.58%/yr vs 3.44%/yr for BBBIX. At a 0.28 correlation, their price movements are largely independent. BBIIX charges 0.46%/yr vs 0.27%/yr for BBBIX.

Performance

BBIIX vs. BBBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BBH Intermediate Municipal Bond Fund (BBIIX) and BBH Limited Duration Fund (BBBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBIIX achieves a 1.26% return, which is significantly lower than BBBIX's 1.35% return. Over the past 10 years, BBIIX has underperformed BBBIX with an annualized return of 2.58%, while BBBIX has yielded a comparatively higher 3.44% annualized return.

BBIIX

• 1D: 0.10%
• 1M: 0.87%
• YTD: 1.26%
• 6M: 1.69%
• 1Y: 6.00%
• 3Y*: 4.46%
• 5Y*: 1.66%
• 10Y*: 2.58%

BBBIX

• 1D: 0.10%
• 1M: 0.35%
• YTD: 1.35%
• 6M: 1.77%
• 1Y: 4.70%
• 3Y*: 6.24%
• 5Y*: 3.98%
• 10Y*: 3.44%

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

BBIIX vs. BBBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBIIX BBH Intermediate Municipal Bond Fund	1.26%	5.45%	2.43%	6.09%	-6.45%	0.01%	5.01%	6.72%	1.85%	6.15%
BBBIX BBH Limited Duration Fund	1.35%	5.62%	6.79%	7.63%	-1.42%	1.06%	2.85%	4.39%	2.07%	2.51%

Correlation

The correlation between BBIIX and BBBIX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.28

The correlation between BBIIX and BBBIX shifts across timeframes, from 0.28 (all time) to 0.49 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BBIIX vs. BBBIX — Risk / Return Rank

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

BBIIX

BBIIX Risk / Return Rank: 73
BBIIX Sharpe Ratio Rank: 91
BBIIX Sortino Ratio Rank: 94
BBIIX Omega Ratio Rank: 96
BBIIX Calmar Ratio Rank: 46
BBIIX Martin Ratio Rank: 39

BBBIX

BBBIX Risk / Return Rank: 97
BBBIX Sharpe Ratio Rank: 94
BBBIX Sortino Ratio Rank: 99
BBBIX Omega Ratio Rank: 98
BBBIX Calmar Ratio Rank: 98
BBBIX Martin Ratio Rank: 98

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.

BBIIX vs. BBBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BBH Intermediate Municipal Bond Fund (BBIIX) and BBH Limited Duration Fund (BBBIX). 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.

	BBIIX	BBBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.81	2.98	-0.17
Sortino ratio: Return per unit of downside risk	4.51	7.64	-3.14
Omega ratio: Gain probability vs. loss probability	1.81	2.27	-0.46
Calmar ratio: Return relative to maximum drawdown	2.45	8.24	-5.79
Martin ratio: Return relative to average drawdown	8.11	34.42	-26.31

BBIIX vs. BBBIX - Sharpe Ratio Comparison

The current BBIIX Sharpe Ratio is 2.81, which is comparable to the BBBIX Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of BBIIX and BBBIX, 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

BBIIX vs. BBBIX - Drawdown Comparison

The maximum BBIIX drawdown since its inception was -11.53%, which is greater than BBBIX's maximum drawdown of -6.60%. Use the drawdown chart below to compare losses from any high point for BBIIX and BBBIX.

Drawdown Indicators

	BBIIX	BBBIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.53%	-6.60%	-4.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-0.57%	-1.89%
Max Drawdown (3Y) Largest decline over 3 years	-3.92%	-0.57%	-3.35%
Max Drawdown (5Y) Largest decline over 5 years	-11.53%	-3.16%	-8.37%
Max Drawdown (10Y) Largest decline over 10 years	-11.53%	-6.60%	-4.93%
Current Drawdown Current decline from peak	-0.83%	-0.10%	-0.73%
Average Drawdown Average peak-to-trough decline	-1.69%	-0.46%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.14%	+0.60%

Volatility

BBIIX vs. BBBIX - Volatility Comparison

BBH Intermediate Municipal Bond Fund (BBIIX) has a higher volatility of 0.52% compared to BBH Limited Duration Fund (BBBIX) at 0.47%. This indicates that BBIIX's price experiences larger fluctuations and is considered to be riskier than BBBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBIIX	BBBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	0.47%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	1.06%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	2.15%	1.58%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.06%	1.55%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	1.47%	+1.78%

BBIIX vs. BBBIX - Expense Ratio Comparison

BBIIX has a 0.46% expense ratio, which is higher than BBBIX's 0.27% expense ratio.

Dividends

BBIIX vs. BBBIX - Dividend Comparison

BBIIX's dividend yield for the trailing twelve months is around 3.27%, less than BBBIX's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBBIX BBH Limited Duration Fund	4.60%	4.68%	4.88%	4.31%	1.84%	1.35%	2.09%	3.01%	2.66%	2.09%	2.23%	2.08%
BBIIX BBH Intermediate Municipal Bond Fund	3.27%	3.60%	3.67%	3.09%	1.52%	1.20%	1.64%	2.69%	2.20%	3.64%	3.31%	2.00%

Frequently Asked Questions

Can I hold both BBIIX and BBBIX in my portfolio?

BBIIX and BBBIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBIIX or BBBIX?

BBIIX has higher volatility (0.52%) compared to BBBIX (0.47%). In terms of maximum drawdown, BBIIX dropped -11.53% vs BBBIX's -6.60%.

Which has better risk-adjusted returns?

BBBIX currently has the higher Sharpe Ratio (2.98 vs 2.81), 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.