BCOIX vs. VBTLX
BCOIX (Baird Core Plus Bond Fund) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - BCOIX is a Intermediate Core-Plus Bond fund managed by Baird, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, BCOIX returned 2.43%/yr vs 1.58%/yr for VBTLX. Their correlation of 0.90 suggests significant overlap in exposure. BCOIX charges 0.30%/yr vs 0.04%/yr for VBTLX.
Performance
BCOIX vs. VBTLX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BCOIX having a 0.44% return and VBTLX slightly lower at 0.42%. Over the past 10 years, BCOIX has outperformed VBTLX with an annualized return of 2.43%, while VBTLX has yielded a comparatively lower 1.58% annualized return.
BCOIX
- 1D
- 0.00%
- 1M
- 0.48%
- YTD
- 0.44%
- 6M
- 0.47%
- 1Y
- 5.65%
- 3Y*
- 4.90%
- 5Y*
- 0.82%
- 10Y*
- 2.43%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
BCOIX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCOIX Baird Core Plus Bond Fund | 0.44% | 7.47% | 2.54% | 6.89% | -12.86% | -1.02% | 8.80% | 10.11% | -0.52% | 4.65% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between BCOIX and VBTLX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 0.90 |
The correlation between BCOIX and VBTLX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.
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Return for Risk
BCOIX vs. VBTLX — Risk / Return Rank
BCOIX
VBTLX
BCOIX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Core Plus Bond Fund (BCOIX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| BCOIX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.24 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 1.86 | +0.34 |
| Martin ratioReturn relative to average drawdown | 6.53 | 5.58 | +0.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCOIX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 1.36 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.04 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.32 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.07 | 0.76 | +0.31 |
Drawdowns
BCOIX vs. VBTLX - Drawdown Comparison
The maximum BCOIX drawdown since its inception was -18.13%, roughly equal to the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for BCOIX and VBTLX.
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Drawdown Indicators
| BCOIX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.13% | -18.81% | +0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | -2.89% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -6.00% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -18.14% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -18.13% | -18.81% | +0.68% |
Current DrawdownCurrent decline from peak | -1.24% | -2.18% | +0.94% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -2.67% | +0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.96% | -0.09% |
Volatility
BCOIX vs. VBTLX - Volatility Comparison
The current volatility for Baird Core Plus Bond Fund (BCOIX) is 1.30%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.38%. This indicates that BCOIX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCOIX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.38% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 2.80% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 3.97% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 6.01% | -0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 4.98% | -0.31% |
BCOIX vs. VBTLX - Expense Ratio Comparison
BCOIX has a 0.30% expense ratio, which is higher than VBTLX's 0.04% expense ratio.
Dividends
BCOIX vs. VBTLX - Dividend Comparison
BCOIX's dividend yield for the trailing twelve months is around 4.35%, more than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCOIX Baird Core Plus Bond Fund | 4.35% | 4.21% | 4.13% | 3.58% | 3.10% | 2.96% | 3.51% | 2.96% | 3.13% | 2.83% | 3.01% | 2.84% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
With a correlation of 0.93, BCOIX and VBTLX 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.
VBTLX has higher volatility (1.38%) compared to BCOIX (1.30%). In terms of maximum drawdown, BCOIX dropped -18.13% vs VBTLX's -18.81%.
BCOIX currently has the higher Sharpe Ratio (1.53 vs 1.36), 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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