BISMX vs. BCPIX

Last updated Jun 5, 2026

BISMX (Brandes International Small Cap Equity Fund Class I) and BCPIX (Brandes Core Plus Fixed Income Fund) are both mutual funds - BISMX is a Foreign Small & Mid Cap Equities fund actively managed by Brandes, while BCPIX is a Intermediate Core-Plus Bond fund managed by Brandes. Over the past 10 years, BISMX returned 10.74%/yr vs 1.75%/yr for BCPIX. At a 0.07 correlation, their price movements are largely independent. BISMX charges 1.11%/yr vs 0.30%/yr for BCPIX.

Performance

BISMX vs. BCPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes International Small Cap Equity Fund Class I (BISMX) and Brandes Core Plus Fixed Income Fund (BCPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BISMX achieves a -0.11% return, which is significantly lower than BCPIX's -0.08% return. Over the past 10 years, BISMX has outperformed BCPIX with an annualized return of 10.74%, while BCPIX has yielded a comparatively lower 1.75% annualized return.

BISMX

• 1D: -1.21%
• 1M: -2.53%
• YTD: -0.11%
• 6M: 1.75%
• 1Y: 13.14%
• 3Y*: 28.94%
• 5Y*: 16.91%
• 10Y*: 10.74%

BCPIX

• 1D: -0.24%
• 1M: 0.16%
• YTD: -0.08%
• 6M: 0.20%
• 1Y: 3.78%
• 3Y*: 4.06%
• 5Y*: 0.75%
• 10Y*: 1.75%

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

BISMX vs. BCPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BISMX Brandes International Small Cap Equity Fund Class I	-0.11%	45.81%	23.44%	39.27%	-8.48%	18.58%	4.85%	7.16%	-20.04%	11.79%
BCPIX Brandes Core Plus Fixed Income Fund	-0.08%	6.71%	1.98%	6.70%	-10.78%	-0.34%	5.77%	6.65%	-0.45%	2.74%

Correlation

The correlation between BISMX and BCPIX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Feb 6, 2012	0.07

Over the past year, BISMX and BCPIX have become more correlated (0.42) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

BISMX vs. BCPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BISMX

BISMX Risk / Return Rank: 16
BISMX Sharpe Ratio Rank: 17
BISMX Sortino Ratio Rank: 18
BISMX Omega Ratio Rank: 17
BISMX Calmar Ratio Rank: 14
BISMX Martin Ratio Rank: 13

BCPIX

BCPIX Risk / Return Rank: 20
BCPIX Sharpe Ratio Rank: 19
BCPIX Sortino Ratio Rank: 20
BCPIX Omega Ratio Rank: 18
BCPIX Calmar Ratio Rank: 22
BCPIX Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BISMX vs. BCPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes International Small Cap Equity Fund Class I (BISMX) and Brandes Core Plus Fixed Income Fund (BCPIX). 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.

	BISMX	BCPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.22	-0.05
Sortino ratio: Return per unit of downside risk	1.77	1.85	-0.08
Omega ratio: Gain probability vs. loss probability	1.21	1.22	-0.01
Calmar ratio: Return relative to maximum drawdown	1.25	1.68	-0.43
Martin ratio: Return relative to average drawdown	3.69	5.15	-1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BISMX vs. BCPIX - Sharpe Ratio Comparison

The current BISMX Sharpe Ratio is 1.17, which is comparable to the BCPIX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of BISMX and BCPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BISMX	BCPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	1.22	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.22	0.15	+1.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.42	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.33	+0.50

Drawdowns

BISMX vs. BCPIX - Drawdown Comparison

The maximum BISMX drawdown since its inception was -47.07%, which is greater than BCPIX's maximum drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for BISMX and BCPIX.

Drawdown Indicators

	BISMX	BCPIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.07%	-22.43%	-24.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.61%	-2.63%	-8.98%
Max Drawdown (3Y) Largest decline over 3 years	-11.61%	-5.44%	-6.17%
Max Drawdown (5Y) Largest decline over 5 years	-31.26%	-15.19%	-16.07%
Max Drawdown (10Y) Largest decline over 10 years	-47.07%	-15.19%	-31.88%
Current Drawdown Current decline from peak	-8.36%	-1.29%	-7.07%
Average Drawdown Average peak-to-trough decline	-7.93%	-4.25%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	0.86%	+3.06%

Volatility

BISMX vs. BCPIX - Volatility Comparison

Brandes International Small Cap Equity Fund Class I (BISMX) has a higher volatility of 3.31% compared to Brandes Core Plus Fixed Income Fund (BCPIX) at 1.28%. This indicates that BISMX's price experiences larger fluctuations and is considered to be riskier than BCPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BISMX	BCPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	1.28%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	2.62%	+7.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	3.61%	+8.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	5.09%	+8.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	4.17%	+10.08%

BISMX vs. BCPIX - Expense Ratio Comparison

BISMX has a 1.11% expense ratio, which is higher than BCPIX's 0.30% expense ratio.

Dividends

BISMX vs. BCPIX - Dividend Comparison

BISMX's dividend yield for the trailing twelve months is around 3.34%, less than BCPIX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCPIX Brandes Core Plus Fixed Income Fund	4.23%	4.32%	3.67%	2.91%	2.54%	1.89%	1.76%	2.77%	2.90%	2.49%	2.84%	2.72%
BISMX Brandes International Small Cap Equity Fund Class I	3.34%	3.34%	3.22%	2.93%	4.16%	3.45%	0.92%	0.82%	4.10%	8.51%	4.16%	3.65%

Frequently Asked Questions

Can I hold both BISMX and BCPIX in my portfolio?

BISMX and BCPIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BISMX or BCPIX?

BISMX has higher volatility (3.31%) compared to BCPIX (1.28%). In terms of maximum drawdown, BISMX dropped -47.07% vs BCPIX's -22.43%.

Which has better risk-adjusted returns?

BCPIX currently has the higher Sharpe Ratio (1.22 vs 1.17), 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.