LCEAX vs. BAGIX

Last updated Jun 25, 2026

LCEAX (Invesco Diversified Dividend Fund) and BAGIX (Baird Aggregate Bond Fund Class I) are both mutual funds - LCEAX is a Large Cap Value Equities fund managed by Invesco, while BAGIX is a Total Bond Market fund managed by Baird. Over the past 10 years, LCEAX returned 8.94%/yr vs 1.92%/yr for BAGIX. At a correlation of -0.16, they often move in opposite directions. LCEAX charges 0.81%/yr vs 0.30%/yr for BAGIX.

Performance

LCEAX vs. BAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Diversified Dividend Fund (LCEAX) and Baird Aggregate Bond Fund Class I (BAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCEAX achieves a 6.04% return, which is significantly higher than BAGIX's 0.53% return. Over the past 10 years, LCEAX has outperformed BAGIX with an annualized return of 8.94%, while BAGIX has yielded a comparatively lower 1.92% annualized return.

LCEAX

• 1D: -0.26%
• 1M: 0.62%
• YTD: 6.04%
• 6M: 4.95%
• 1Y: 16.62%
• 3Y*: 14.47%
• 5Y*: 9.27%
• 10Y*: 8.94%

BAGIX

• 1D: 0.20%
• 1M: 0.88%
• YTD: 0.53%
• 6M: 0.47%
• 1Y: 4.15%
• 3Y*: 4.45%
• 5Y*: 0.33%
• 10Y*: 1.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LCEAX vs. BAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCEAX Invesco Diversified Dividend Fund	6.04%	15.56%	13.09%	8.88%	-1.67%	18.98%	0.10%	25.05%	-7.84%	7.49%
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 LCEAX and BAGIX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jan 3, 2002	-0.16

The correlation between LCEAX and BAGIX shifts across timeframes, from -0.16 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LCEAX vs. BAGIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LCEAX

LCEAX Risk / Return Rank: 44
LCEAX Sharpe Ratio Rank: 44
LCEAX Sortino Ratio Rank: 46
LCEAX Omega Ratio Rank: 42
LCEAX Calmar Ratio Rank: 43
LCEAX Martin Ratio Rank: 45

BAGIX

BAGIX Risk / Return Rank: 22
BAGIX Sharpe Ratio Rank: 22
BAGIX Sortino Ratio Rank: 23
BAGIX Omega Ratio Rank: 21
BAGIX Calmar Ratio Rank: 24
BAGIX Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LCEAX vs. BAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Diversified Dividend Fund (LCEAX) 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.

	LCEAX	BAGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.22	+0.55
Sortino ratio: Return per unit of downside risk	2.58	1.83	+0.76
Omega ratio: Gain probability vs. loss probability	1.32	1.21	+0.10
Calmar ratio: Return relative to maximum drawdown	2.36	1.66	+0.70
Martin ratio: Return relative to average drawdown	8.74	4.64	+4.10

LCEAX vs. BAGIX - Sharpe Ratio Comparison

The current LCEAX Sharpe Ratio is 1.77, which is higher than the BAGIX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of LCEAX and BAGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LCEAX vs. BAGIX - Drawdown Comparison

The maximum LCEAX drawdown since its inception was -50.30%, which is greater than BAGIX's maximum drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for LCEAX and BAGIX.

Drawdown Indicators

	LCEAX	BAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-50.30%	-18.62%	-31.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.50%	-2.72%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.03%	-6.05%	-7.98%
Max Drawdown (5Y) Largest decline over 5 years	-16.10%	-18.60%	+2.50%
Max Drawdown (10Y) Largest decline over 10 years	-36.16%	-18.62%	-17.54%
Current Drawdown Current decline from peak	-1.02%	-1.26%	+0.24%
Average Drawdown Average peak-to-trough decline	-5.63%	-2.35%	-3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	0.97%	+1.04%

Volatility

LCEAX vs. BAGIX - Volatility Comparison

Invesco Diversified Dividend Fund (LCEAX) has a higher volatility of 3.03% compared to Baird Aggregate Bond Fund Class I (BAGIX) at 1.11%. This indicates that LCEAX'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.

Volatility by Period

	LCEAX	BAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	1.11%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	7.70%	2.69%	+5.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.02%	3.73%	+6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.65%	5.93%	+7.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.34%	4.89%	+10.45%

LCEAX vs. BAGIX - Expense Ratio Comparison

LCEAX has a 0.81% expense ratio, which is higher than BAGIX's 0.30% expense ratio.

Dividends

LCEAX vs. BAGIX - Dividend Comparison

LCEAX's dividend yield for the trailing twelve months is around 11.86%, more than BAGIX's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAGIX Baird Aggregate Bond Fund Class I	3.90%	4.12%	4.03%	3.47%	2.70%	2.00%	3.39%	2.75%	2.87%	2.54%	2.25%	2.46%
LCEAX Invesco Diversified Dividend Fund	11.86%	12.54%	12.00%	7.87%	12.23%	18.25%	3.76%	5.02%	7.74%	1.86%	3.51%	5.89%

Frequently Asked Questions

Can I hold both LCEAX and BAGIX in my portfolio?

LCEAX and BAGIX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCEAX or BAGIX?

LCEAX has higher volatility (3.03%) compared to BAGIX (1.11%). In terms of maximum drawdown, LCEAX dropped -50.30% vs BAGIX's -18.62%.

Which has better risk-adjusted returns?

LCEAX currently has the higher Sharpe Ratio (1.77 vs 1.22), 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.