BGVIX vs. BIIEX

Last updated Aug 1, 2026

BGVIX (Brandes Global Equity Fund) and BIIEX (Brandes International Equity Fund) are both mutual funds - BGVIX is a Global Equities fund managed by Brandes, while BIIEX is a Foreign Large Cap Equities fund managed by Brandes. Over the past 10 years, BGVIX returned 11.72%/yr vs 11.01%/yr for BIIEX. Their correlation of 0.93 means they have usually moved in the same direction. BGVIX charges 1.00%/yr vs 0.85%/yr for BIIEX.

Performance

BGVIX vs. BIIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes Global Equity Fund (BGVIX) and Brandes International Equity Fund (BIIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGVIX achieves a 7.31% return, which is significantly lower than BIIEX's 14.52% return. Over the past 10 years, BGVIX has outperformed BIIEX with an annualized return of 11.72%, while BIIEX has yielded a comparatively lower 11.01% annualized return.

BGVIX

• 1D: -0.19%
• 1M: 3.09%
• 6M: 3.35%
• YTD: 7.31%
• 1Y: 25.22%
• 3Y*: 19.77%
• 5Y*: 13.81%
• 10Y*: 11.72%
• ALL TIME*: 9.26%

BIIEX

• 1D: 0.92%
• 1M: 6.19%
• 6M: 8.88%
• YTD: 14.52%
• 1Y: 30.14%
• 3Y*: 22.08%
• 5Y*: 15.19%
• 10Y*: 11.01%
• ALL TIME*: 8.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BGVIX Brandes Global Equity Fund	$0.00	$0.00	$0.00
BIIEX Brandes International Equity Fund	$0.00	$0.00	$0.00

BGVIX vs. BIIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGVIX Brandes Global Equity Fund	7.31%	33.72%	12.53%	21.71%	-5.97%	21.20%	1.97%	17.38%	-10.39%	16.23%
BIIEX Brandes International Equity Fund	14.52%	38.82%	7.17%	30.40%	-8.46%	12.86%	-1.83%	14.48%	-9.52%	15.14%

Correlation

The correlation between BGVIX and BIIEX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Oct 6, 2008	0.93

The correlation between BGVIX and BIIEX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

BGVIX vs. BIIEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BGVIX

BGVIX Risk / Return Rank: 73
BGVIX Sharpe Ratio Rank: 77
BGVIX Sortino Ratio Rank: 76
BGVIX Omega Ratio Rank: 74
BGVIX Calmar Ratio Rank: 75
BGVIX Martin Ratio Rank: 62

BIIEX

BIIEX Risk / Return Rank: 81
BIIEX Sharpe Ratio Rank: 87
BIIEX Sortino Ratio Rank: 85
BIIEX Omega Ratio Rank: 82
BIIEX Calmar Ratio Rank: 78
BIIEX Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BGVIX vs. BIIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes Global Equity Fund (BGVIX) and Brandes International Equity Fund (BIIEX). 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.

	BGVIX	BIIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.14	-0.30
Sortino ratio: Return per unit of downside risk	2.62	3.03	-0.41
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	2.47	2.55	-0.08
Martin ratio: Return relative to average drawdown	8.21	8.70	-0.49

BGVIX vs. BIIEX - Sharpe Ratio Comparison

The current BGVIX Sharpe Ratio is 1.84, which is comparable to the BIIEX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of BGVIX and BIIEX, 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

BGVIX vs. BIIEX - Drawdown Comparison

The maximum BGVIX drawdown since its inception was -41.16%, smaller than the maximum BIIEX drawdown of -58.76%. Use the drawdown chart below to compare losses from any high point for BGVIX and BIIEX.

Drawdown Indicators

	BGVIX	BIIEX	Difference
Max Drawdown Largest peak-to-trough decline	-41.16%	-58.76%	+17.60%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-11.17%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.22%	-13.69%	-0.53%
Max Drawdown (5Y) Largest decline over 5 years	-25.37%	-29.73%	+4.36%
Max Drawdown (10Y) Largest decline over 10 years	-41.16%	-42.67%	+1.51%
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-6.28%	-11.55%	+5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	3.27%	-0.54%

Volatility

BGVIX vs. BIIEX - Volatility Comparison

The current volatility for Brandes Global Equity Fund (BGVIX) is 3.32%, while Brandes International Equity Fund (BIIEX) has a volatility of 3.95%. This indicates that BGVIX experiences smaller price fluctuations and is considered to be less risky than BIIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGVIX	BIIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.95%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	11.05%	-1.82%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	13.36%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.07%	15.03%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	16.66%	+0.52%

BGVIX vs. BIIEX - Expense Ratio Comparison

BGVIX has a 1.00% expense ratio, which is higher than BIIEX's 0.85% expense ratio.

Dividends

BGVIX vs. BIIEX - Dividend Comparison

BGVIX's dividend yield for the trailing twelve months is around 11.56%, more than BIIEX's 5.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGVIX Brandes Global Equity Fund	11.56%	12.41%	9.13%	4.80%	3.31%	6.00%	2.98%	2.46%	6.99%	4.02%	2.07%	8.51%
BIIEX Brandes International Equity Fund	5.67%	6.17%	2.95%	2.51%	3.57%	3.81%	1.86%	3.76%	2.83%	1.80%	3.58%	2.53%

Frequently Asked Questions

Can I hold both BGVIX and BIIEX in my portfolio?

BGVIX and BIIEX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGVIX or BIIEX?

BIIEX has higher volatility (3.95%) compared to BGVIX (3.32%). In terms of maximum drawdown, BGVIX dropped -41.16% vs BIIEX's -58.76%.

Which has better risk-adjusted returns?

BIIEX currently has the higher Sharpe Ratio (2.14 vs 1.84), 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.