BHBFX vs. GQHPX
BHBFX (Madison Dividend Income Fund) and GQHPX (GQG Partners US Quality Dividend Income Fund) are both mutual funds - BHBFX is a Large Cap Value Equities fund managed by Madison, while GQHPX is a Quality Factor fund managed by GQG Partners. Over the past 5 years, BHBFX returned 6.03%/yr vs 10.77%/yr for GQHPX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. BHBFX charges 0.91%/yr vs 0.57%/yr for GQHPX.
Performance
BHBFX vs. GQHPX - Performance Comparison
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Returns By Period
In the year-to-date period, BHBFX achieves a 11.96% return, which is significantly lower than GQHPX's 13.55% return.
BHBFX
- 1D
- -0.73%
- 1M
- 1.31%
- 6M
- 5.46%
- YTD
- 11.96%
- 1Y
- 16.74%
- 3Y*
- 8.89%
- 5Y*
- 6.03%
- 10Y*
- 9.71%
- ALL TIME*
- 10.03%
GQHPX
- 1D
- -0.82%
- 1M
- 2.68%
- 6M
- 7.38%
- YTD
- 13.55%
- 1Y
- 16.78%
- 3Y*
- 11.65%
- 5Y*
- 10.77%
- 10Y*
- —
- ALL TIME*
- 10.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BHBFX vs. GQHPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BHBFX Madison Dividend Income Fund | 11.96% | 8.19% | 7.62% | 1.76% | -5.50% | 9.55% |
GQHPX GQG Partners US Quality Dividend Income Fund | 13.55% | 7.53% | 12.69% | 3.94% | 6.73% | 10.34% |
Correlation
The correlation between BHBFX and GQHPX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021 | 0.74 |
Over the past year, the correlation between BHBFX and GQHPX has dropped to 0.54 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
BHBFX vs. GQHPX — Risk / Return Rank
BHBFX
GQHPX
BHBFX vs. GQHPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Income Fund (BHBFX) and GQG Partners US Quality Dividend Income Fund (GQHPX). 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.
| BHBFX | GQHPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.53 | -0.25 |
| Martin ratioReturn relative to average drawdown | 6.37 | 6.76 | -0.39 |
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Drawdowns
BHBFX vs. GQHPX - Drawdown Comparison
The maximum BHBFX drawdown since its inception was -34.07%, which is greater than GQHPX's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for BHBFX and GQHPX.
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Drawdown Indicators
| BHBFX | GQHPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.07% | -17.26% | -16.81% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -6.50% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -8.71% | -5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -23.80% | -17.26% | -6.54% |
Max Drawdown (10Y)Largest decline over 10 years | -32.34% | — | — |
Current DrawdownCurrent decline from peak | -1.17% | -1.02% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -3.34% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 2.43% | -0.14% |
Volatility
BHBFX vs. GQHPX - Volatility Comparison
The current volatility for Madison Dividend Income Fund (BHBFX) is 3.13%, while GQG Partners US Quality Dividend Income Fund (GQHPX) has a volatility of 4.32%. This indicates that BHBFX experiences smaller price fluctuations and is considered to be less risky than GQHPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHBFX | GQHPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 4.32% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.47% | 9.14% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 11.03% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 12.74% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 12.74% | +4.58% |
BHBFX vs. GQHPX - Expense Ratio Comparison
BHBFX has a 0.91% expense ratio, which is higher than GQHPX's 0.57% expense ratio.
Dividends
BHBFX vs. GQHPX - Dividend Comparison
BHBFX's dividend yield for the trailing twelve months is around 11.19%, more than GQHPX's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHBFX Madison Dividend Income Fund | 11.19% | 12.41% | 14.14% | 6.01% | 9.39% | 11.53% | 1.53% | 3.95% | 12.73% | 3.89% | 3.76% | 6.06% |
GQHPX GQG Partners US Quality Dividend Income Fund | 3.66% | 2.98% | 3.14% | 2.64% | 3.24% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BHBFX and GQHPX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GQHPX has higher volatility (4.32%) compared to BHBFX (3.13%). In terms of maximum drawdown, BHBFX dropped -34.07% vs GQHPX's -17.26%.
GQHPX currently has the higher Sharpe Ratio (1.49 vs 1.42), 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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