BKAG vs. BAGSX

Last updated Jun 4, 2026

BKAG (BNY Mellon Core Bond ETF) and BAGSX (Baird Aggregate Bond Fund) are both funds - BKAG is a Total Bond Market fund tracking the Bloomberg US Aggregate Total Return Index, while BAGSX is a Intermediate Core Bond fund managed by Baird. Over the past 5 years, BKAG returned 0.07%/yr vs 0.19%/yr for BAGSX. With a 0.95 correlation, they move nearly in lockstep. BKAG charges 0.00%/yr vs 0.55%/yr for BAGSX.

Performance

BKAG vs. BAGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Core Bond ETF (BKAG) and Baird Aggregate Bond Fund (BAGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BKAG having a 0.29% return and BAGSX slightly higher at 0.30%.

BKAG

• 1D: -0.19%
• 1M: 0.27%
• YTD: 0.29%
• 6M: 0.12%
• 1Y: 5.10%
• 3Y*: 3.95%
• 5Y*: 0.07%
• 10Y*: —

BAGSX

• 1D: 0.10%
• 1M: 0.52%
• YTD: 0.30%
• 6M: 0.33%
• 1Y: 5.28%
• 3Y*: 4.25%
• 5Y*: 0.19%
• 10Y*: 1.74%

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

BKAG vs. BAGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKAG BNY Mellon Core Bond ETF	0.29%	7.23%	1.17%	5.67%	-13.29%	-1.46%	2.15%
BAGSX Baird Aggregate Bond Fund	0.30%	7.11%	1.63%	6.12%	-13.52%	-1.74%	4.17%

Correlation

The correlation between BKAG and BAGSX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.95

The correlation between BKAG and BAGSX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

BKAG vs. BAGSX — Risk / Return Rank

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

BKAG

BKAG Risk / Return Rank: 36
BKAG Sharpe Ratio Rank: 36
BKAG Sortino Ratio Rank: 37
BKAG Omega Ratio Rank: 34
BKAG Calmar Ratio Rank: 37
BKAG Martin Ratio Rank: 35

BAGSX

BAGSX Risk / Return Rank: 24
BAGSX Sharpe Ratio Rank: 24
BAGSX Sortino Ratio Rank: 25
BAGSX Omega Ratio Rank: 25
BAGSX Calmar Ratio Rank: 25
BAGSX Martin Ratio Rank: 21

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.

BKAG vs. BAGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Bond ETF (BKAG) and Baird Aggregate Bond Fund (BAGSX). 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.

	BKAG	BAGSX	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.41	-0.08
Sortino ratio Return per unit of downside risk	1.94	2.09	-0.15
Omega ratio Gain probability vs. loss probability	1.23	1.26	-0.03
Calmar ratio Return relative to maximum drawdown	1.86	1.87	-0.01
Martin ratio Return relative to average drawdown	5.49	5.53	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKAG vs. BAGSX - Sharpe Ratio Comparison

The current BKAG Sharpe Ratio is 1.32, which is comparable to the BAGSX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of BKAG and BAGSX, 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

	BKAG	BAGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.41	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.03	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.92	-0.91

Drawdowns

BKAG vs. BAGSX - Drawdown Comparison

The maximum BKAG drawdown since its inception was -18.53%, roughly equal to the maximum BAGSX drawdown of -18.97%. Use the drawdown chart below to compare losses from any high point for BKAG and BAGSX.

Drawdown Indicators

	BKAG	BAGSX	Difference
Max Drawdown Largest peak-to-trough decline	-18.53%	-18.97%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-2.84%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-6.04%	-6.17%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-18.00%	-18.84%	+0.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.97%	—
Current Drawdown Current decline from peak	-2.32%	-1.54%	-0.78%
Average Drawdown Average peak-to-trough decline	-7.12%	-2.52%	-4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.96%	-0.03%

Volatility

BKAG vs. BAGSX - Volatility Comparison

The current volatility for BNY Mellon Core Bond ETF (BKAG) is 1.22%, while Baird Aggregate Bond Fund (BAGSX) has a volatility of 1.29%. This indicates that BKAG experiences smaller price fluctuations and is considered to be less risky than BAGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKAG	BAGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.29%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	2.68%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	3.78%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	5.93%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.55%	4.89%	+0.66%

BKAG vs. BAGSX - Expense Ratio Comparison

BKAG has a 0.00% expense ratio, which is lower than BAGSX's 0.55% expense ratio.

Dividends

BKAG vs. BAGSX - Dividend Comparison

BKAG's dividend yield for the trailing twelve months is around 4.24%, more than BAGSX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAGSX Baird Aggregate Bond Fund	3.80%	3.69%	3.62%	3.10%	2.33%	1.68%	3.02%	2.41%	2.53%	2.21%	1.96%	2.14%
BKAG BNY Mellon Core Bond ETF	4.24%	4.17%	4.26%	3.33%	2.49%	1.55%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKAG and BAGSX in my portfolio?

With a correlation of 0.94, BKAG and BAGSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BKAG or BAGSX?

BAGSX has higher volatility (1.29%) compared to BKAG (1.22%). In terms of maximum drawdown, BKAG dropped -18.53% vs BAGSX's -18.97%.

Which has better risk-adjusted returns?

BAGSX currently has the higher Sharpe Ratio (1.41 vs 1.32), 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.