HWHIX vs. BAGIX
HWHIX (Hotchkis & Wiley High Yield Fund) and BAGIX (Baird Aggregate Bond Fund Institutional Class) are both mutual funds - HWHIX is a High Yield Bonds fund managed by Hotchkis & Wiley, while BAGIX is a Intermediate Core Bond fund actively managed by Baird. Over the past 10 years, HWHIX returned 4.08%/yr vs 1.72%/yr for BAGIX. Their 0.11 correlation means their historical movements had little consistent relationship. HWHIX charges 0.70%/yr vs 0.30%/yr for BAGIX.
Performance
HWHIX vs. BAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, HWHIX achieves a 1.32% return, which is significantly higher than BAGIX's -0.51% return. Over the past 10 years, HWHIX has outperformed BAGIX with an annualized return of 4.08%, while BAGIX has yielded a comparatively lower 1.72% annualized return.
HWHIX
- 1D
- 0.10%
- 1M
- -0.38%
- 6M
- 0.78%
- YTD
- 1.32%
- 1Y
- 4.24%
- 3Y*
- 7.00%
- 5Y*
- 3.41%
- 10Y*
- 4.08%
- ALL TIME*
- 3.75%
BAGIX
- 1D
- -0.21%
- 1M
- -1.06%
- 6M
- -0.61%
- YTD
- -0.51%
- 1Y
- 1.98%
- 3Y*
- 4.36%
- 5Y*
- -0.17%
- 10Y*
- 1.72%
- ALL TIME*
- 4.12%
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 |
HWHIX vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HWHIX Hotchkis & Wiley High Yield Fund | 1.32% | 7.28% | 7.23% | 12.00% | -11.08% | 6.25% | 3.85% | 9.61% | -3.37% | 6.62% |
BAGIX Baird Aggregate Bond Fund Institutional Class | -0.51% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
Correlation
The correlation between HWHIX and BAGIX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2009 | 0.11 |
Over the past year, HWHIX and BAGIX have become more correlated (0.46) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
HWHIX vs. BAGIX — Risk / Return Rank
HWHIX
BAGIX
HWHIX vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley High Yield Fund (HWHIX) 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.
| HWHIX | BAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.13 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.04 | +0.47 |
| Martin ratioReturn relative to average drawdown | 6.39 | 2.56 | +3.83 |
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Drawdowns
HWHIX vs. BAGIX - Drawdown Comparison
The maximum HWHIX drawdown since its inception was -23.03%, which is greater than BAGIX's maximum drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for HWHIX and BAGIX.
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Drawdown Indicators
| HWHIX | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.03% | -18.62% | -4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.64% | -2.72% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.08% | -5.06% | +0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | -18.51% | +3.49% |
Max Drawdown (10Y)Largest decline over 10 years | -23.03% | -18.62% | -4.41% |
Current DrawdownCurrent decline from peak | -0.57% | -2.29% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -2.35% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 1.10% | -0.48% |
Volatility
HWHIX vs. BAGIX - Volatility Comparison
The current volatility for Hotchkis & Wiley High Yield Fund (HWHIX) is 0.67%, while Baird Aggregate Bond Fund Institutional Class (BAGIX) has a volatility of 0.98%. This indicates that HWHIX experiences smaller price fluctuations and is considered to be less risky 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
| HWHIX | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.98% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.82% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.49% | 3.70% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.71% | 5.93% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 4.89% | +0.20% |
HWHIX vs. BAGIX - Expense Ratio Comparison
HWHIX has a 0.70% expense ratio, which is higher than BAGIX's 0.30% expense ratio.
Dividends
HWHIX vs. BAGIX - Dividend Comparison
HWHIX's dividend yield for the trailing twelve months is around 5.82%, more than BAGIX's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Institutional Class | 4.32% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
HWHIX Hotchkis & Wiley High Yield Fund | 5.82% | 6.24% | 6.27% | 4.77% | 4.03% | 4.02% | 5.47% | 5.92% | 6.24% | 4.42% | 0.00% | 0.86% |
Frequently Asked Questions
HWHIX and BAGIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAGIX has higher volatility (0.98%) compared to HWHIX (0.67%). In terms of maximum drawdown, HWHIX dropped -23.03% vs BAGIX's -18.62%.
HWHIX currently has the higher Sharpe Ratio (1.14 vs 0.76), 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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