BBNIX vs. BCPIX

Last updated Jun 5, 2026

BBNIX (BBH Income Fund) and BCPIX (Brandes Core Plus Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, BBNIX returned 1.18%/yr vs 0.75%/yr for BCPIX. Their correlation of 0.88 suggests significant overlap in exposure. BBNIX charges 0.47%/yr vs 0.30%/yr for BCPIX.

Performance

BBNIX vs. BCPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BBH Income Fund (BBNIX) and Brandes Core Plus Fixed Income Fund (BCPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBNIX achieves a 0.37% return, which is significantly higher than BCPIX's -0.08% return.

BBNIX

• 1D: -0.23%
• 1M: 0.06%
• YTD: 0.37%
• 6M: 0.52%
• 1Y: 4.94%
• 3Y*: 5.83%
• 5Y*: 1.18%
• 10Y*: —

BCPIX

• 1D: -0.24%
• 1M: 0.16%
• YTD: -0.08%
• 6M: 0.20%
• 1Y: 3.78%
• 3Y*: 4.06%
• 5Y*: 0.75%
• 10Y*: 1.75%

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

BBNIX vs. BCPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBNIX BBH Income Fund	0.37%	7.86%	3.87%	9.07%	-14.89%	1.36%	11.24%	6.59%	0.00%
BCPIX Brandes Core Plus Fixed Income Fund	-0.08%	6.71%	1.98%	6.70%	-10.78%	-0.34%	5.77%	6.65%	0.40%

Correlation

The correlation between BBNIX and BCPIX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018	0.88

The correlation between BBNIX and BCPIX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

BBNIX vs. BCPIX — Risk / Return Rank

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

BBNIX

BBNIX Risk / Return Rank: 25
BBNIX Sharpe Ratio Rank: 23
BBNIX Sortino Ratio Rank: 27
BBNIX Omega Ratio Rank: 24
BBNIX Calmar Ratio Rank: 27
BBNIX Martin Ratio Rank: 23

BCPIX

BCPIX Risk / Return Rank: 20
BCPIX Sharpe Ratio Rank: 19
BCPIX Sortino Ratio Rank: 20
BCPIX Omega Ratio Rank: 18
BCPIX Calmar Ratio Rank: 22
BCPIX Martin Ratio Rank: 20

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.

BBNIX vs. BCPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BBH Income Fund (BBNIX) and Brandes Core Plus Fixed Income Fund (BCPIX). 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.

	BBNIX	BCPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.22	+0.13
Sortino ratio: Return per unit of downside risk	2.12	1.85	+0.27
Omega ratio: Gain probability vs. loss probability	1.25	1.22	+0.04
Calmar ratio: Return relative to maximum drawdown	1.91	1.68	+0.23
Martin ratio: Return relative to average drawdown	5.66	5.15	+0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBNIX vs. BCPIX - Sharpe Ratio Comparison

The current BBNIX Sharpe Ratio is 1.36, which is comparable to the BCPIX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of BBNIX and BCPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBNIX	BCPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	1.22	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.15	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.33	+0.24

Drawdowns

BBNIX vs. BCPIX - Drawdown Comparison

The maximum BBNIX drawdown since its inception was -18.96%, smaller than the maximum BCPIX drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for BBNIX and BCPIX.

Drawdown Indicators

	BBNIX	BCPIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-22.43%	+3.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-2.63%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-5.10%	-5.44%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-15.19%	-3.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.19%	—
Current Drawdown Current decline from peak	-1.51%	-1.29%	-0.22%
Average Drawdown Average peak-to-trough decline	-4.33%	-4.25%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.86%	+0.12%

Volatility

BBNIX vs. BCPIX - Volatility Comparison

BBH Income Fund (BBNIX) and Brandes Core Plus Fixed Income Fund (BCPIX) have volatilities of 1.32% and 1.28%, 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.

Volatility by Period

	BBNIX	BCPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.28%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	2.62%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.08%	3.61%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.65%	5.09%	+0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	4.17%	+0.91%

BBNIX vs. BCPIX - Expense Ratio Comparison

BBNIX has a 0.47% expense ratio, which is higher than BCPIX's 0.30% expense ratio.

Dividends

BBNIX vs. BCPIX - Dividend Comparison

BBNIX's dividend yield for the trailing twelve months is around 5.22%, more than BCPIX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
BCPIX Brandes Core Plus Fixed Income Fund	4.23%	4.32%	3.67%	2.91%	2.54%	1.89%	1.76%	2.77%	2.90%	2.49%	2.84%	2.72%

Frequently Asked Questions

Can I hold both BBNIX and BCPIX in my portfolio?

With a correlation of 0.91, BBNIX and BCPIX 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, BBNIX or BCPIX?

BBNIX has higher volatility (1.32%) compared to BCPIX (1.28%). In terms of maximum drawdown, BBNIX dropped -18.96% vs BCPIX's -22.43%.

Which has better risk-adjusted returns?

BBNIX currently has the higher Sharpe Ratio (1.36 vs 1.22), 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.