BMDSX vs. IMCG
BMDSX (Baird Mid Cap Growth Fund) and IMCG (iShares Morningstar Mid-Cap Growth ETF) are both Mid Cap Growth Equities funds. Over the past 10 years, BMDSX returned 8.80%/yr vs 14.30%/yr for IMCG. Their correlation of 0.93 suggests significant overlap in exposure. BMDSX charges 1.05%/yr vs 0.06%/yr for IMCG.
Performance
BMDSX vs. IMCG - Performance Comparison
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Returns By Period
In the year-to-date period, BMDSX achieves a 7.69% return, which is significantly lower than IMCG's 22.11% return. Over the past 10 years, BMDSX has underperformed IMCG with an annualized return of 8.80%, while IMCG has yielded a comparatively higher 14.30% annualized return.
BMDSX
- 1D
- 1.05%
- 1M
- -0.38%
- 6M
- 3.59%
- YTD
- 7.69%
- 1Y
- 0.34%
- 3Y*
- -0.18%
- 5Y*
- -1.88%
- 10Y*
- 8.80%
IMCG
- 1D
- -0.22%
- 1M
- 2.93%
- 6M
- 18.10%
- YTD
- 22.11%
- 1Y
- 22.10%
- 3Y*
- 17.23%
- 5Y*
- 7.73%
- 10Y*
- 14.30%
BMDSX vs. IMCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BMDSX Baird Mid Cap Growth Fund | 7.69% | -9.55% | -1.16% | 19.91% | -27.86% | 21.81% | 34.56% | 35.94% | -1.52% | 26.61% |
IMCG iShares Morningstar Mid-Cap Growth ETF | 22.11% | 6.55% | 18.14% | 20.73% | -25.79% | 15.39% | 45.64% | 35.70% | -3.68% | 25.57% |
Correlation
The correlation between BMDSX and IMCG is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004 | 0.93 |
The correlation between BMDSX and IMCG has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
BMDSX vs. IMCG — Risk / Return Rank
BMDSX
IMCG
BMDSX vs. IMCG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Mid Cap Growth Fund (BMDSX) and iShares Morningstar Mid-Cap Growth ETF (IMCG). 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.
| BMDSX | IMCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.22 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.07 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.15 | 7.89 | -8.03 |
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Drawdowns
BMDSX vs. IMCG - Drawdown Comparison
The maximum BMDSX drawdown since its inception was -53.96%, smaller than the maximum IMCG drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for BMDSX and IMCG.
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Drawdown Indicators
| BMDSX | IMCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.96% | -58.96% | +5.00% |
Max Drawdown (1Y)Largest decline over 1 year | -14.54% | -10.17% | -4.37% |
Max Drawdown (3Y)Largest decline over 3 years | -25.04% | -21.92% | -3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -36.24% | -35.08% | -1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -36.24% | -35.08% | -1.16% |
Current DrawdownCurrent decline from peak | -19.88% | -1.08% | -18.80% |
Average DrawdownAverage peak-to-trough decline | -10.98% | -9.19% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.83% | 2.67% | +4.16% |
Volatility
BMDSX vs. IMCG - Volatility Comparison
The current volatility for Baird Mid Cap Growth Fund (BMDSX) is 4.81%, while iShares Morningstar Mid-Cap Growth ETF (IMCG) has a volatility of 6.25%. This indicates that BMDSX experiences smaller price fluctuations and is considered to be less risky than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMDSX | IMCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 6.25% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 11.97% | 14.03% | -2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 16.83% | -1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.09% | 20.38% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.75% | 20.54% | +0.21% |
BMDSX vs. IMCG - Expense Ratio Comparison
BMDSX has a 1.05% expense ratio, which is higher than IMCG's 0.06% expense ratio.
Dividends
BMDSX vs. IMCG - Dividend Comparison
BMDSX's dividend yield for the trailing twelve months is around 12.89%, more than IMCG's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMDSX Baird Mid Cap Growth Fund | 12.89% | 13.88% | 4.57% | 2.44% | 1.79% | 17.82% | 10.09% | 5.77% | 6.62% | 4.87% | 0.00% | 0.15% |
IMCG iShares Morningstar Mid-Cap Growth ETF | 0.61% | 0.78% | 0.78% | 0.85% | 0.91% | 0.41% | 0.09% | 0.30% | 0.35% | 0.45% | 0.52% | 0.38% |
Frequently Asked Questions
BMDSX and IMCG have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMCG has higher volatility (6.25%) compared to BMDSX (4.81%). In terms of maximum drawdown, BMDSX dropped -53.96% vs IMCG's -58.96%.
IMCG currently has the higher Sharpe Ratio (1.25 vs -0.07), 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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