BBTBX vs. OSMAX

Last updated Jun 26, 2026

BBTBX (Bridge Builder Core Bond Fund) and OSMAX (Invesco International Small-Mid Company Fund) are both mutual funds - BBTBX is a Intermediate Core Bond fund managed by Bridge Builder, while OSMAX is a Foreign Small & Mid Cap Equities fund managed by Invesco. Over the past 10 years, BBTBX returned 1.79%/yr vs 6.19%/yr for OSMAX. At a 0.08 correlation, their price movements are largely independent. BBTBX charges 0.13%/yr vs 1.33%/yr for OSMAX.

Performance

BBTBX vs. OSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridge Builder Core Bond Fund (BBTBX) and Invesco International Small-Mid Company Fund (OSMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBTBX achieves a 0.37% return, which is significantly higher than OSMAX's -1.61% return. Over the past 10 years, BBTBX has underperformed OSMAX with an annualized return of 1.79%, while OSMAX has yielded a comparatively higher 6.19% annualized return.

BBTBX

• 1D: 0.45%
• 1M: 0.94%
• YTD: 0.37%
• 6M: 0.63%
• 1Y: 4.36%
• 3Y*: 4.33%
• 5Y*: 0.22%
• 10Y*: 1.79%

OSMAX

• 1D: 0.14%
• 1M: -3.00%
• YTD: -1.61%
• 6M: -2.21%
• 1Y: -0.45%
• 3Y*: 4.39%
• 5Y*: -2.48%
• 10Y*: 6.19%

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

BBTBX vs. OSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBTBX Bridge Builder Core Bond Fund	0.37%	7.82%	1.89%	5.41%	-13.49%	-1.12%	8.54%	9.15%	0.13%	4.14%
OSMAX Invesco International Small-Mid Company Fund	-1.61%	16.81%	-6.57%	12.33%	-31.19%	13.64%	24.76%	19.33%	-9.47%	37.92%

Correlation

The correlation between BBTBX and OSMAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Oct 30, 2013	0.08

Over the past year, BBTBX and OSMAX have become more correlated (0.47) than their long-term average of 0.08, meaning their price movements have been converging.

Return for Risk

BBTBX vs. OSMAX — Risk / Return Rank

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

BBTBX

BBTBX Risk / Return Rank: 23
BBTBX Sharpe Ratio Rank: 23
BBTBX Sortino Ratio Rank: 24
BBTBX Omega Ratio Rank: 21
BBTBX Calmar Ratio Rank: 25
BBTBX Martin Ratio Rank: 20

OSMAX

OSMAX Risk / Return Rank: 3
OSMAX Sharpe Ratio Rank: 3
OSMAX Sortino Ratio Rank: 3
OSMAX Omega Ratio Rank: 3
OSMAX Calmar Ratio Rank: 3
OSMAX Martin Ratio Rank: 3

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.

BBTBX vs. OSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridge Builder Core Bond Fund (BBTBX) and Invesco International Small-Mid Company Fund (OSMAX). 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.

	BBTBX	OSMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	-0.05	+1.18
Sortino ratio: Return per unit of downside risk	1.67	0.04	+1.64
Omega ratio: Gain probability vs. loss probability	1.20	1.00	+0.19
Calmar ratio: Return relative to maximum drawdown	1.56	-0.05	+1.61
Martin ratio: Return relative to average drawdown	4.22	-0.16	+4.38

BBTBX vs. OSMAX - Sharpe Ratio Comparison

The current BBTBX Sharpe Ratio is 1.13, which is higher than the OSMAX Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of BBTBX and OSMAX, 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

BBTBX vs. OSMAX - Drawdown Comparison

The maximum BBTBX drawdown since its inception was -18.54%, smaller than the maximum OSMAX drawdown of -78.32%. Use the drawdown chart below to compare losses from any high point for BBTBX and OSMAX.

Drawdown Indicators

	BBTBX	OSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.54%	-78.32%	+59.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.97%	-12.10%	+9.13%
Max Drawdown (3Y) Largest decline over 3 years	-6.32%	-18.53%	+12.21%
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	-44.11%	+25.57%
Max Drawdown (10Y) Largest decline over 10 years	-18.54%	-44.11%	+25.57%
Current Drawdown Current decline from peak	-1.17%	-20.34%	+19.17%
Average Drawdown Average peak-to-trough decline	-3.90%	-19.07%	+15.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	3.93%	-2.85%

Volatility

BBTBX vs. OSMAX - Volatility Comparison

The current volatility for Bridge Builder Core Bond Fund (BBTBX) is 1.30%, while Invesco International Small-Mid Company Fund (OSMAX) has a volatility of 3.98%. This indicates that BBTBX experiences smaller price fluctuations and is considered to be less risky than OSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBTBX	OSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	3.98%	-2.68%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	11.32%	-8.24%
Volatility (1Y) Calculated over the trailing 1-year period	4.09%	14.36%	-10.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.99%	18.02%	-12.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	17.02%	-12.08%

BBTBX vs. OSMAX - Expense Ratio Comparison

BBTBX has a 0.13% expense ratio, which is lower than OSMAX's 1.33% expense ratio.

Dividends

BBTBX vs. OSMAX - Dividend Comparison

BBTBX's dividend yield for the trailing twelve months is around 4.06%, less than OSMAX's 20.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBTBX Bridge Builder Core Bond Fund	4.06%	4.58%	3.92%	2.86%	2.26%	2.38%	4.73%	3.39%	3.02%	2.67%	0.95%	0.17%
OSMAX Invesco International Small-Mid Company Fund	20.45%	20.13%	10.49%	2.36%	0.28%	10.00%	8.13%	0.37%	10.95%	2.95%	0.15%	0.07%

Frequently Asked Questions

Can I hold both BBTBX and OSMAX in my portfolio?

BBTBX and OSMAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBTBX or OSMAX?

OSMAX has higher volatility (3.98%) compared to BBTBX (1.30%). In terms of maximum drawdown, BBTBX dropped -18.54% vs OSMAX's -78.32%.

Which has better risk-adjusted returns?

BBTBX currently has the higher Sharpe Ratio (1.13 vs -0.05), 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.