BBNIX vs. AGG
BBNIX (BBH Income Fund) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - BBNIX is a Intermediate Core-Plus Bond fund managed by BBH, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 5 years, BBNIX returned 1.10%/yr vs 0.07%/yr for AGG. Their correlation of 0.86 suggests significant overlap in exposure. BBNIX charges 0.47%/yr vs 0.03%/yr for AGG.
Performance
BBNIX vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, BBNIX achieves a 0.26% return, which is significantly lower than AGG's 0.47% return.
BBNIX
- 1D
- -0.34%
- 1M
- 0.62%
- YTD
- 0.26%
- 6M
- 0.74%
- 1Y
- 4.58%
- 3Y*
- 5.79%
- 5Y*
- 1.10%
- 10Y*
- —
AGG
- 1D
- 0.08%
- 1M
- 0.61%
- YTD
- 0.47%
- 6M
- 0.55%
- 1Y
- 4.33%
- 3Y*
- 3.96%
- 5Y*
- 0.07%
- 10Y*
- 1.54%
BBNIX vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BBNIX BBH Income Fund | 0.26% | 7.86% | 3.87% | 9.07% | -14.89% | 1.36% | 11.24% | 6.59% | 0.00% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.47% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 1.85% |
Correlation
The correlation between BBNIX and AGG is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | 0.86 |
The correlation between BBNIX and AGG has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
BBNIX vs. AGG — Risk / Return Rank
BBNIX
AGG
BBNIX vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BBH Income Fund (BBNIX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| BBNIX | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.57 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.68 | 4.54 | +0.14 |
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Drawdowns
BBNIX vs. AGG - Drawdown Comparison
The maximum BBNIX drawdown since its inception was -18.96%, roughly equal to the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for BBNIX and AGG.
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Drawdown Indicators
| BBNIX | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.96% | -18.43% | -0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -2.76% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -5.10% | -6.11% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -17.82% | -1.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | -1.62% | -1.93% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -4.31% | -2.71% | -1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.96% | +0.07% |
Volatility
BBNIX vs. AGG - Volatility Comparison
BBH Income Fund (BBNIX) and iShares Core U.S. Aggregate Bond ETF (AGG) have volatilities of 1.14% and 1.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBNIX | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.10% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 2.83% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.81% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 6.10% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.07% | 5.41% | -0.34% |
BBNIX vs. AGG - Expense Ratio Comparison
BBNIX has a 0.47% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
BBNIX vs. AGG - Dividend Comparison
BBNIX's dividend yield for the trailing twelve months is around 5.22%, more than AGG's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.98% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
BBNIX BBH Income Fund | 5.22% | 5.28% | 5.76% | 5.23% | 2.93% | 2.87% | 7.07% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBNIX and AGG have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBNIX has higher volatility (1.14%) compared to AGG (1.10%). In terms of maximum drawdown, BBNIX dropped -18.96% vs AGG's -18.43%.
BBNIX currently has the higher Sharpe Ratio (1.20 vs 1.14), 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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