IEMG vs. BAGIX
IEMG (iShares Core MSCI Emerging Markets ETF) and BAGIX (Baird Aggregate Bond Fund Class I) are both funds - IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while BAGIX is a Total Bond Market fund managed by Baird. Over the past 10 years, IEMG returned 10.42%/yr vs 1.94%/yr for BAGIX. At a correlation of -0.02, they often move in opposite directions. IEMG charges 0.09%/yr vs 0.30%/yr for BAGIX.
Performance
IEMG vs. BAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, IEMG achieves a 22.84% return, which is significantly higher than BAGIX's 0.53% return. Over the past 10 years, IEMG has outperformed BAGIX with an annualized return of 10.42%, while BAGIX has yielded a comparatively lower 1.94% annualized return.
IEMG
- 1D
- 0.61%
- 1M
- 0.34%
- YTD
- 22.84%
- 6M
- 25.59%
- 1Y
- 44.83%
- 3Y*
- 21.33%
- 5Y*
- 7.15%
- 10Y*
- 10.42%
BAGIX
- 1D
- 0.51%
- 1M
- 1.19%
- YTD
- 0.53%
- 6M
- 1.08%
- 1Y
- 5.04%
- 3Y*
- 4.52%
- 5Y*
- 0.29%
- 10Y*
- 1.94%
IEMG vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 22.84% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
BAGIX Baird Aggregate Bond Fund Class I | 0.53% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
Correlation
The correlation between IEMG and BAGIX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | -0.02 |
The correlation between IEMG and BAGIX shifts across timeframes, from -0.02 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEMG vs. BAGIX — Risk / Return Rank
IEMG
BAGIX
IEMG vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and Baird Aggregate Bond Fund Class I (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.
| IEMG | BAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.24 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 1.86 | +1.37 |
| Martin ratioReturn relative to average drawdown | 11.89 | 5.32 | +6.57 |
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Drawdowns
IEMG vs. BAGIX - Drawdown Comparison
The maximum IEMG drawdown since its inception was -38.71%, which is greater than BAGIX's maximum drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for IEMG and BAGIX.
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Drawdown Indicators
| IEMG | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -18.62% | -20.09% |
Max Drawdown (1Y)Largest decline over 1 year | -13.21% | -2.72% | -10.49% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -6.05% | -11.16% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | -18.60% | -17.15% |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | -18.62% | -20.09% |
Current DrawdownCurrent decline from peak | -3.98% | -1.26% | -2.72% |
Average DrawdownAverage peak-to-trough decline | -12.95% | -2.35% | -10.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 0.95% | +2.64% |
Volatility
IEMG vs. BAGIX - Volatility Comparison
iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 10.60% compared to Baird Aggregate Bond Fund Class I (BAGIX) at 1.26%. This indicates that IEMG'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
| IEMG | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.60% | 1.26% | +9.34% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 2.66% | +16.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.08% | 3.75% | +17.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 5.93% | +12.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 4.89% | +15.28% |
IEMG vs. BAGIX - Expense Ratio Comparison
IEMG has a 0.09% expense ratio, which is lower than BAGIX's 0.30% expense ratio.
Dividends
IEMG vs. BAGIX - Dividend Comparison
IEMG's dividend yield for the trailing twelve months is around 2.24%, less than BAGIX's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 4.23% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.24% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
IEMG and BAGIX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMG has higher volatility (10.60%) compared to BAGIX (1.26%). In terms of maximum drawdown, IEMG dropped -38.71% vs BAGIX's -18.62%.
IEMG currently has the higher Sharpe Ratio (2.03 vs 1.35), 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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