BHBFX vs. MBOAX
BHBFX (Madison Dividend Income Fund) and MBOAX (Madison Core Bond Fund) are both mutual funds - BHBFX is a Large Cap Value Equities fund managed by Madison, while MBOAX is a Intermediate Core Bond fund managed by Madison. Over the past 10 years, BHBFX returned 9.71%/yr vs 1.36%/yr for MBOAX. Their -0.11 correlation means they have often moved in opposite directions in the past. BHBFX charges 0.91%/yr vs 0.85%/yr for MBOAX.
Performance
BHBFX vs. MBOAX - Performance Comparison
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Returns By Period
In the year-to-date period, BHBFX achieves a 11.96% return, which is significantly higher than MBOAX's -0.68% return. Over the past 10 years, BHBFX has outperformed MBOAX with an annualized return of 9.71%, while MBOAX has yielded a comparatively lower 1.36% annualized 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%
MBOAX
- 1D
- -0.22%
- 1M
- -0.99%
- 6M
- -0.93%
- YTD
- -0.68%
- 1Y
- 1.88%
- 3Y*
- 3.67%
- 5Y*
- -0.47%
- 10Y*
- 1.36%
- ALL TIME*
- 3.00%
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. MBOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHBFX Madison Dividend Income Fund | 11.96% | 8.19% | 7.62% | 1.76% | -5.50% | 22.82% | 6.34% | 25.17% | -0.81% | 19.94% |
MBOAX Madison Core Bond Fund | -0.68% | 6.96% | 1.14% | 5.63% | -12.82% | -1.85% | 9.22% | 8.31% | -0.98% | 3.02% |
Correlation
The correlation between BHBFX and MBOAX is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 1997 | -0.11 |
The correlation between BHBFX and MBOAX shifts across timeframes, from -0.11 (all time) to 0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BHBFX vs. MBOAX — Risk / Return Rank
BHBFX
MBOAX
BHBFX vs. MBOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Income Fund (BHBFX) and Madison Core Bond Fund (MBOAX). 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 | MBOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 0.90 | +1.39 |
| Martin ratioReturn relative to average drawdown | 6.37 | 2.25 | +4.12 |
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Drawdowns
BHBFX vs. MBOAX - Drawdown Comparison
The maximum BHBFX drawdown since its inception was -34.07%, which is greater than MBOAX's maximum drawdown of -17.78%. Use the drawdown chart below to compare losses from any high point for BHBFX and MBOAX.
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Drawdown Indicators
| BHBFX | MBOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.07% | -17.78% | -16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -2.93% | -3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -5.07% | -9.25% |
Max Drawdown (5Y)Largest decline over 5 years | -23.80% | -17.55% | -6.25% |
Max Drawdown (10Y)Largest decline over 10 years | -32.34% | -17.78% | -14.56% |
Current DrawdownCurrent decline from peak | -1.17% | -2.88% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -2.36% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 1.17% | +1.12% |
Volatility
BHBFX vs. MBOAX - Volatility Comparison
Madison Dividend Income Fund (BHBFX) has a higher volatility of 3.13% compared to Madison Core Bond Fund (MBOAX) at 1.02%. This indicates that BHBFX's price experiences larger fluctuations and is considered to be riskier than MBOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHBFX | MBOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 1.02% | +2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 7.47% | 2.92% | +4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 3.71% | +6.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 5.62% | +9.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 4.66% | +12.66% |
BHBFX vs. MBOAX - Expense Ratio Comparison
BHBFX has a 0.91% expense ratio, which is higher than MBOAX's 0.85% expense ratio.
Dividends
BHBFX vs. MBOAX - Dividend Comparison
BHBFX's dividend yield for the trailing twelve months is around 11.19%, more than MBOAX's 3.26% 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% |
MBOAX Madison Core Bond Fund | 3.26% | 3.39% | 3.27% | 2.73% | 1.88% | 1.85% | 3.77% | 2.42% | 2.48% | 2.28% | 2.72% | 4.60% |
Frequently Asked Questions
BHBFX and MBOAX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BHBFX has higher volatility (3.13%) compared to MBOAX (1.02%). In terms of maximum drawdown, BHBFX dropped -34.07% vs MBOAX's -17.78%.
BHBFX currently has the higher Sharpe Ratio (1.42 vs 0.71), 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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