BBNIX vs. MCFIX

Last updated Apr 2, 2026

Compare and contrast key facts about BBH Income Fund (BBNIX) and Mercer Core Fixed Income Fund (MCFIX).

BBNIX is managed by BBH. It was launched on Jun 27, 2018. MCFIX is managed by Mercer Funds. It was launched on Aug 15, 2005.

Performance

BBNIX vs. MCFIX - Performance Comparison

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

BBNIX vs. MCFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BBNIX BBH Income Fund	-0.33%	7.86%	3.87%	9.07%	-14.89%	1.36%	11.24%	5.22%
MCFIX Mercer Core Fixed Income Fund	-0.88%	6.64%	2.02%	6.47%	-13.69%	-1.05%	4.75%	3.31%

Returns By Period

In the year-to-date period, BBNIX achieves a -0.33% return, which is significantly higher than MCFIX's -0.88% return.

BBNIX

• 1D: 0.23%
• 1M: -1.66%
• YTD: -0.33%
• 6M: 0.41%
• 1Y: 4.18%
• 3Y*: 5.50%
• 5Y*: 1.34%
• 10Y*: —

MCFIX

• 1D: 0.23%
• 1M: -1.88%
• YTD: -0.88%
• 6M: -0.58%
• 1Y: 2.54%
• 3Y*: 3.62%
• 5Y*: 0.17%
• 10Y*: —

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

BBNIX vs. MCFIX - Expense Ratio Comparison

BBNIX has a 0.47% expense ratio, which is higher than MCFIX's 0.16% expense ratio.

BBNIX

BBH Income Fund

MCFIX

Mercer Core Fixed Income Fund

Return for Risk

BBNIX vs. MCFIX — Risk / Return Rank

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

BBNIX

BBNIX Risk / Return Rank: 47
BBNIX Sharpe Ratio Rank: 49
BBNIX Sortino Ratio Rank: 50
BBNIX Omega Ratio Rank: 36
BBNIX Calmar Ratio Rank: 60
BBNIX Martin Ratio Rank: 42

MCFIX

MCFIX Risk / Return Rank: 34
MCFIX Sharpe Ratio Rank: 23
MCFIX Sortino Ratio Rank: 21
MCFIX Omega Ratio Rank: 17
MCFIX Calmar Ratio Rank: 66
MCFIX Martin Ratio Rank: 43

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. MCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BBH Income Fund (BBNIX) and Mercer Core Fixed Income Fund (MCFIX). 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	MCFIX	Difference
Sharpe ratio Return per unit of total volatility	1.02	0.70	+0.32
Sortino ratio Return per unit of downside risk	1.50	1.01	+0.49
Omega ratio Gain probability vs. loss probability	1.19	1.13	+0.06
Calmar ratio Return relative to maximum drawdown	1.56	1.73	-0.17
Martin ratio Return relative to average drawdown	4.74	5.00	-0.26
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. MCFIX - Sharpe Ratio Comparison

The current BBNIX Sharpe Ratio is 1.02, which is higher than the MCFIX Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of BBNIX and MCFIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BBNIX	MCFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	0.70	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.03	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.15	+0.42

Correlation

The correlation between BBNIX and MCFIX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BBNIX vs. MCFIX - Dividend Comparison

BBNIX's dividend yield for the trailing twelve months is around 4.80%, more than MCFIX's 4.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
BBNIX BBH Income Fund	4.80%	5.28%	5.76%	5.23%	2.93%	2.87%	7.07%	4.60%
MCFIX Mercer Core Fixed Income Fund	4.30%	3.89%	4.54%	3.68%	3.31%	2.45%	0.00%	0.00%

Drawdowns

BBNIX vs. MCFIX - Drawdown Comparison

The maximum BBNIX drawdown since its inception was -18.96%, smaller than the maximum MCFIX drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for BBNIX and MCFIX.

Drawdown Indicators

	BBNIX	MCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-21.68%	+2.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-3.09%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-18.72%	-0.24%
Current Drawdown Current decline from peak	-2.20%	-5.87%	+3.67%
Average Drawdown Average peak-to-trough decline	-4.39%	-8.61%	+4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.07%	-0.11%

Volatility

BBNIX vs. MCFIX - Volatility Comparison

The current volatility for BBH Income Fund (BBNIX) is 1.42%, while Mercer Core Fixed Income Fund (MCFIX) has a volatility of 1.54%. This indicates that BBNIX experiences smaller price fluctuations and is considered to be less risky than MCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBNIX	MCFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	1.54%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	2.68%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	4.49%	4.81%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.63%	6.01%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	6.16%	-1.07%