BIAEX vs. BIAZX
Compare and contrast key facts about Brown Advisory Tax Exempt Bond Fund (BIAEX) and Brown Advisory Mortgage Securities Fund (BIAZX).
BIAEX is managed by Brown Advisory Funds. It was launched on Jun 28, 2012. BIAZX is managed by Brown Advisory Funds. It was launched on Dec 25, 2013.
Performance
BIAEX vs. BIAZX - Performance Comparison
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BIAEX vs. BIAZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIAEX Brown Advisory Tax Exempt Bond Fund | -0.48% | 5.50% | 2.08% | 6.43% | -9.75% | 2.39% | 3.65% | 7.48% | 2.19% | 4.12% |
BIAZX Brown Advisory Mortgage Securities Fund | -0.12% | 7.99% | 1.28% | 4.34% | -10.64% | -0.30% | 5.49% | 6.93% | 0.72% | 2.35% |
Returns By Period
In the year-to-date period, BIAEX achieves a -0.48% return, which is significantly lower than BIAZX's -0.12% return. Over the past 10 years, BIAEX has outperformed BIAZX with an annualized return of 1.97%, while BIAZX has yielded a comparatively lower 1.55% annualized return.
BIAEX
- 1D
- 0.21%
- 1M
- -2.20%
- YTD
- -0.48%
- 6M
- 1.23%
- 1Y
- 4.68%
- 3Y*
- 3.61%
- 5Y*
- 1.01%
- 10Y*
- 1.97%
BIAZX
- 1D
- -0.11%
- 1M
- -1.83%
- YTD
- -0.12%
- 6M
- 1.17%
- 1Y
- 4.56%
- 3Y*
- 3.63%
- 5Y*
- 0.34%
- 10Y*
- 1.55%
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BIAEX vs. BIAZX - Expense Ratio Comparison
BIAEX has a 0.46% expense ratio, which is lower than BIAZX's 0.49% expense ratio.
Return for Risk
BIAEX vs. BIAZX — Risk / Return Rank
BIAEX
BIAZX
BIAEX vs. BIAZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Tax Exempt Bond Fund (BIAEX) and Brown Advisory Mortgage Securities Fund (BIAZX). 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.
| BIAEX | BIAZX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.24 | 1.07 | +0.17 |
Sortino ratioReturn per unit of downside risk | 1.68 | 1.54 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.19 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.82 | -0.41 |
Martin ratioReturn relative to average drawdown | 5.19 | 5.02 | +0.17 |
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
| BIAEX | BIAZX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 1.07 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.06 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.35 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.49 | -0.01 |
Correlation
The correlation between BIAEX and BIAZX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BIAEX vs. BIAZX - Dividend Comparison
BIAEX's dividend yield for the trailing twelve months is around 3.48%, less than BIAZX's 4.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIAEX Brown Advisory Tax Exempt Bond Fund | 3.48% | 3.79% | 3.67% | 3.15% | 2.00% | 2.57% | 2.75% | 3.01% | 3.27% | 2.30% | 0.00% | 0.00% |
BIAZX Brown Advisory Mortgage Securities Fund | 4.14% | 4.43% | 4.43% | 3.65% | 2.33% | 0.75% | 0.98% | 2.12% | 2.77% | 2.03% | 2.82% | 3.59% |
Drawdowns
BIAEX vs. BIAZX - Drawdown Comparison
The maximum BIAEX drawdown since its inception was -13.89%, smaller than the maximum BIAZX drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for BIAEX and BIAZX.
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Drawdown Indicators
| BIAEX | BIAZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.89% | -15.95% | +2.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | -2.79% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | -15.95% | +2.06% |
Max Drawdown (10Y)Largest decline over 10 years | -13.89% | -15.95% | +2.06% |
Current DrawdownCurrent decline from peak | -2.51% | -2.25% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -2.86% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.01% | +0.07% |
Volatility
BIAEX vs. BIAZX - Volatility Comparison
The current volatility for Brown Advisory Tax Exempt Bond Fund (BIAEX) is 1.01%, while Brown Advisory Mortgage Securities Fund (BIAZX) has a volatility of 1.73%. This indicates that BIAEX experiences smaller price fluctuations and is considered to be less risky than BIAZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIAEX | BIAZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.73% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | 2.66% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.09% | 4.59% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.37% | 5.76% | -2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.58% | 4.41% | -0.83% |