FIKQX vs. BAGIX
FIKQX (Fidelity Advisor Investment Grade Bond Fund Class Z) and BAGIX (Baird Aggregate Bond Fund Institutional Class) are both mutual funds - FIKQX is a Total Bond Market fund managed by Fidelity, while BAGIX is a Intermediate Core Bond fund actively managed by Baird. Over the past 5 years, FIKQX returned -0.25%/yr vs -0.13%/yr for BAGIX. Their correlation of 0.93 means they have usually moved in the same direction. FIKQX charges 0.36%/yr vs 0.30%/yr for BAGIX.
Performance
FIKQX vs. BAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, FIKQX achieves a -0.54% return, which is significantly lower than BAGIX's -0.31% return.
FIKQX
- 1D
- 0.14%
- 1M
- -1.11%
- 6M
- -0.73%
- YTD
- -0.54%
- 1Y
- 1.70%
- 3Y*
- 4.01%
- 5Y*
- -0.25%
- 10Y*
- —
- ALL TIME*
- 2.55%
BAGIX
- 1D
- 0.00%
- 1M
- -0.86%
- 6M
- -0.50%
- YTD
- -0.31%
- 1Y
- 2.19%
- 3Y*
- 4.25%
- 5Y*
- -0.13%
- 10Y*
- 1.72%
- ALL TIME*
- 4.13%
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 |
FIKQX vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | -0.54% | 7.31% | 1.69% | 6.75% | -13.97% | -1.03% | 10.00% | 9.90% | 2.01% |
BAGIX Baird Aggregate Bond Fund Institutional Class | -0.31% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | 1.99% |
Correlation
The correlation between FIKQX and BAGIX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.93 |
The correlation between FIKQX and BAGIX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.
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Return for Risk
FIKQX vs. BAGIX — Risk / Return Rank
FIKQX
BAGIX
FIKQX vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX) and Baird Aggregate Bond Fund Institutional Class (BAGIX). 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.
| FIKQX | BAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.11 | -0.19 |
| Martin ratioReturn relative to average drawdown | 2.31 | 2.78 | -0.46 |
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Drawdowns
FIKQX vs. BAGIX - Drawdown Comparison
The maximum FIKQX drawdown since its inception was -18.53%, roughly equal to the maximum BAGIX drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for FIKQX and BAGIX.
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Drawdown Indicators
| FIKQX | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.53% | -18.62% | +0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.13% | -2.72% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -5.16% | -5.06% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.53% | -18.60% | +0.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.62% | — |
Current DrawdownCurrent decline from peak | -2.49% | -2.08% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -5.15% | -2.35% | -2.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.09% | +0.17% |
Volatility
FIKQX vs. BAGIX - Volatility Comparison
Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX) has a higher volatility of 1.10% compared to Baird Aggregate Bond Fund Institutional Class (BAGIX) at 0.98%. This indicates that FIKQX's price experiences larger fluctuations and is considered to be riskier than BAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIKQX | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.98% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 2.82% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 3.70% | +0.11% |
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 | 5.45% | 4.89% | +0.56% |
FIKQX vs. BAGIX - Expense Ratio Comparison
FIKQX has a 0.36% expense ratio, which is higher than BAGIX's 0.30% expense ratio.
Dividends
FIKQX vs. BAGIX - Dividend Comparison
FIKQX's dividend yield for the trailing twelve months is around 3.71%, less than BAGIX's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Institutional Class | 4.31% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | 3.71% | 3.97% | 4.08% | 3.65% | 2.05% | 1.44% | 4.90% | 2.83% | 1.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, FIKQX and BAGIX 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.
FIKQX has higher volatility (1.10%) compared to BAGIX (0.98%). In terms of maximum drawdown, FIKQX dropped -18.53% vs BAGIX's -18.62%.
BAGIX currently has the higher Sharpe Ratio (0.82 vs 0.77), 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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