IUSB vs. BAGIX
IUSB (iShares Core Universal USD Bond ETF) and BAGIX (Baird Aggregate Bond Fund Class I) are both funds - IUSB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Index, while BAGIX is a Total Bond Market fund managed by Baird. Over the past 10 years, IUSB returned 1.94%/yr vs 1.99%/yr for BAGIX. Their correlation of 0.87 suggests significant overlap in exposure. IUSB charges 0.06%/yr vs 0.30%/yr for BAGIX.
Performance
IUSB vs. BAGIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IUSB having a 0.43% return and BAGIX slightly lower at 0.42%. Both investments have delivered pretty close results over the past 10 years, with IUSB having a 1.94% annualized return and BAGIX not far ahead at 1.99%.
IUSB
- 1D
- -0.17%
- 1M
- 0.31%
- YTD
- 0.43%
- 6M
- 0.31%
- 1Y
- 5.54%
- 3Y*
- 4.51%
- 5Y*
- 0.44%
- 10Y*
- 1.94%
BAGIX
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 0.42%
- 6M
- 0.37%
- 1Y
- 5.47%
- 3Y*
- 4.52%
- 5Y*
- 0.45%
- 10Y*
- 1.99%
IUSB vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 0.43% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
BAGIX Baird Aggregate Bond Fund Class I | 0.42% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
Correlation
The correlation between IUSB and BAGIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014 | 0.87 |
The correlation between IUSB and BAGIX has been stable across timeframes, ranging from 0.87 to 0.96 - a consistent structural relationship.
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Return for Risk
IUSB vs. BAGIX — Risk / Return Rank
IUSB
BAGIX
IUSB vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Universal USD Bond ETF (IUSB) 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.
| IUSB | BAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.02 | +0.18 |
| Martin ratioReturn relative to average drawdown | 6.68 | 6.02 | +0.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IUSB | BAGIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.45 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.08 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.41 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.97 | -0.51 |
Drawdowns
IUSB vs. BAGIX - Drawdown Comparison
The maximum IUSB drawdown since its inception was -17.90%, roughly equal to the maximum BAGIX drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for IUSB and BAGIX.
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Drawdown Indicators
| IUSB | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -18.62% | +0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.72% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -6.05% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -18.60% | +0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -17.90% | -18.62% | +0.72% |
Current DrawdownCurrent decline from peak | -1.33% | -1.36% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -2.35% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.91% | -0.08% |
Volatility
IUSB vs. BAGIX - Volatility Comparison
iShares Core Universal USD Bond ETF (IUSB) and Baird Aggregate Bond Fund Class I (BAGIX) have volatilities of 1.24% and 1.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSB | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.26% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 2.63% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.80% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 5.92% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 4.89% | +0.15% |
IUSB vs. BAGIX - Expense Ratio Comparison
IUSB has a 0.06% expense ratio, which is lower than BAGIX's 0.30% expense ratio.
Dividends
IUSB vs. BAGIX - Dividend Comparison
IUSB's dividend yield for the trailing twelve months is around 4.23%, which matches BAGIX's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 4.24% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
IUSB iShares Core Universal USD Bond ETF | 4.23% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.96, IUSB 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.
BAGIX has higher volatility (1.26%) compared to IUSB (1.24%). In terms of maximum drawdown, IUSB dropped -17.90% vs BAGIX's -18.62%.
IUSB currently has the higher Sharpe Ratio (1.54 vs 1.45), 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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