FXNAX vs. BCOSX
FXNAX (Fidelity U.S. Bond Index Fund) and BCOSX (Baird Core Plus Bond Fund) are both mutual funds - FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while BCOSX is a Intermediate Core-Plus Bond fund managed by Baird. Over the past 10 years, FXNAX returned 1.44%/yr vs 2.07%/yr for BCOSX. Their correlation of 0.93 suggests significant overlap in exposure. FXNAX charges 0.03%/yr vs 0.55%/yr for BCOSX.
Performance
FXNAX vs. BCOSX - Performance Comparison
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Returns By Period
In the year-to-date period, FXNAX achieves a 0.11% return, which is significantly lower than BCOSX's 0.32% return. Over the past 10 years, FXNAX has underperformed BCOSX with an annualized return of 1.44%, while BCOSX has yielded a comparatively higher 2.07% annualized return.
FXNAX
- 1D
- -0.29%
- 1M
- 0.61%
- YTD
- 0.11%
- 6M
- 0.43%
- 1Y
- 4.25%
- 3Y*
- 3.88%
- 5Y*
- -0.05%
- 10Y*
- 1.44%
BCOSX
- 1D
- -0.28%
- 1M
- 0.71%
- YTD
- 0.32%
- 6M
- 0.60%
- 1Y
- 4.31%
- 3Y*
- 4.52%
- 5Y*
- 0.42%
- 10Y*
- 2.07%
FXNAX vs. BCOSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 0.11% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
BCOSX Baird Core Plus Bond Fund | 0.32% | 7.22% | 2.26% | 6.60% | -13.09% | -1.23% | 8.59% | 9.69% | -0.74% | 4.47% |
Correlation
The correlation between FXNAX and BCOSX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.93 |
The correlation between FXNAX and BCOSX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
FXNAX vs. BCOSX — Risk / Return Rank
FXNAX
BCOSX
FXNAX vs. BCOSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Bond Index Fund (FXNAX) and Baird Core Plus Bond Fund (BCOSX). 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.
| FXNAX | BCOSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.75 | -0.23 |
| Martin ratioReturn relative to average drawdown | 4.36 | 4.87 | -0.51 |
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Drawdowns
FXNAX vs. BCOSX - Drawdown Comparison
The maximum FXNAX drawdown since its inception was -19.51%, which is greater than BCOSX's maximum drawdown of -18.39%. Use the drawdown chart below to compare losses from any high point for FXNAX and BCOSX.
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Drawdown Indicators
| FXNAX | BCOSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.51% | -18.39% | -1.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.58% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -6.16% | -5.80% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -18.39% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -19.51% | -18.39% | -1.12% |
Current DrawdownCurrent decline from peak | -3.17% | -1.33% | -1.84% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -2.30% | -1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.93% | +0.09% |
Volatility
FXNAX vs. BCOSX - Volatility Comparison
Fidelity U.S. Bond Index Fund (FXNAX) has a higher volatility of 1.16% compared to Baird Core Plus Bond Fund (BCOSX) at 1.10%. This indicates that FXNAX's price experiences larger fluctuations and is considered to be riskier than BCOSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXNAX | BCOSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.10% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.62% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 3.57% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 5.63% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 4.66% | +0.35% |
FXNAX vs. BCOSX - Expense Ratio Comparison
FXNAX has a 0.03% expense ratio, which is lower than BCOSX's 0.55% expense ratio.
Dividends
FXNAX vs. BCOSX - Dividend Comparison
FXNAX's dividend yield for the trailing twelve months is around 3.72%, less than BCOSX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCOSX Baird Core Plus Bond Fund | 3.87% | 3.75% | 3.68% | 3.17% | 2.69% | 2.57% | 3.11% | 2.60% | 2.75% | 2.47% | 2.27% | 2.49% |
FXNAX Fidelity U.S. Bond Index Fund | 3.72% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
Frequently Asked Questions
With a correlation of 0.93, FXNAX and BCOSX 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.
FXNAX has higher volatility (1.16%) compared to BCOSX (1.10%). In terms of maximum drawdown, FXNAX dropped -19.51% vs BCOSX's -18.39%.
BCOSX currently has the higher Sharpe Ratio (1.27 vs 1.14), 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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