LKFIX vs. LKBAX

Last updated Jun 4, 2026

LKFIX (LKCM Fixed Income Fund) and LKBAX (LKCM Balanced Fund) are both mutual funds - LKFIX is a Corporate Bonds fund managed by LKCM, while LKBAX is a Diversified Portfolio fund managed by LKCM. Over the past 10 years, LKFIX returned 2.06%/yr vs 8.15%/yr for LKBAX. At a correlation of -0.07, they often move in opposite directions. LKFIX charges 0.50%/yr vs 0.80%/yr for LKBAX.

Performance

LKFIX vs. LKBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LKCM Fixed Income Fund (LKFIX) and LKCM Balanced Fund (LKBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LKFIX achieves a 0.19% return, which is significantly lower than LKBAX's 2.48% return. Over the past 10 years, LKFIX has underperformed LKBAX with an annualized return of 2.06%, while LKBAX has yielded a comparatively higher 8.15% annualized return.

LKFIX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 0.19%
• 6M: 0.37%
• 1Y: 4.24%
• 3Y*: 4.47%
• 5Y*: 1.61%
• 10Y*: 2.06%

LKBAX

• 1D: -0.14%
• 1M: 1.05%
• YTD: 2.48%
• 6M: 2.77%
• 1Y: 8.58%
• 3Y*: 9.81%
• 5Y*: 4.77%
• 10Y*: 8.15%

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

LKFIX vs. LKBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LKFIX LKCM Fixed Income Fund	0.19%	6.66%	3.06%	4.98%	-5.63%	-1.54%	4.29%	6.71%	0.26%	2.15%
LKBAX LKCM Balanced Fund	2.48%	8.44%	10.97%	10.85%	-13.86%	14.01%	15.28%	21.86%	-2.15%	12.88%

Correlation

The correlation between LKFIX and LKBAX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Dec 31, 1997	-0.07

The correlation between LKFIX and LKBAX shifts across timeframes, from -0.07 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LKFIX vs. LKBAX — Risk / Return Rank

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

LKFIX

LKFIX Risk / Return Rank: 38
LKFIX Sharpe Ratio Rank: 35
LKFIX Sortino Ratio Rank: 38
LKFIX Omega Ratio Rank: 37
LKFIX Calmar Ratio Rank: 42
LKFIX Martin Ratio Rank: 36

LKBAX

LKBAX Risk / Return Rank: 21
LKBAX Sharpe Ratio Rank: 20
LKBAX Sortino Ratio Rank: 19
LKBAX Omega Ratio Rank: 19
LKBAX Calmar Ratio Rank: 19
LKBAX Martin Ratio Rank: 26

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.

LKFIX vs. LKBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LKCM Fixed Income Fund (LKFIX) and LKCM Balanced Fund (LKBAX). 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.

	LKFIX	LKBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.29	+0.41
Sortino ratio: Return per unit of downside risk	2.58	1.84	+0.74
Omega ratio: Gain probability vs. loss probability	1.32	1.23	+0.10
Calmar ratio: Return relative to maximum drawdown	2.47	1.57	+0.90
Martin ratio: Return relative to average drawdown	7.93	6.32	+1.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LKFIX vs. LKBAX - Sharpe Ratio Comparison

The current LKFIX Sharpe Ratio is 1.70, which is higher than the LKBAX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of LKFIX and LKBAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LKFIX	LKBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.29	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.44	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.69	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	0.57	+0.68

Drawdowns

LKFIX vs. LKBAX - Drawdown Comparison

The maximum LKFIX drawdown since its inception was -8.97%, smaller than the maximum LKBAX drawdown of -31.40%. Use the drawdown chart below to compare losses from any high point for LKFIX and LKBAX.

Drawdown Indicators

	LKFIX	LKBAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.97%	-31.40%	+22.43%
Max Drawdown (1Y) Largest decline over 1 year	-1.76%	-5.71%	+3.95%
Max Drawdown (3Y) Largest decline over 3 years	-2.19%	-11.65%	+9.46%
Max Drawdown (5Y) Largest decline over 5 years	-8.60%	-19.63%	+11.03%
Max Drawdown (10Y) Largest decline over 10 years	-8.97%	-26.04%	+17.07%
Current Drawdown Current decline from peak	-0.83%	-0.14%	-0.69%
Average Drawdown Average peak-to-trough decline	-1.12%	-4.28%	+3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	1.42%	-0.87%

Volatility

LKFIX vs. LKBAX - Volatility Comparison

The current volatility for LKCM Fixed Income Fund (LKFIX) is 1.01%, while LKCM Balanced Fund (LKBAX) has a volatility of 1.61%. This indicates that LKFIX experiences smaller price fluctuations and is considered to be less risky than LKBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LKFIX	LKBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	1.61%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	5.22%	-3.34%
Volatility (1Y) Calculated over the trailing 1-year period	2.58%	6.97%	-4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	10.84%	-7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.63%	11.89%	-9.26%

LKFIX vs. LKBAX - Expense Ratio Comparison

LKFIX has a 0.50% expense ratio, which is lower than LKBAX's 0.80% expense ratio.

Dividends

LKFIX vs. LKBAX - Dividend Comparison

LKFIX's dividend yield for the trailing twelve months is around 3.69%, less than LKBAX's 5.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LKBAX LKCM Balanced Fund	5.87%	6.00%	4.60%	3.49%	3.59%	4.41%	4.18%	5.95%	3.02%	4.09%	5.06%	3.50%
LKFIX LKCM Fixed Income Fund	3.69%	3.57%	3.03%	2.28%	1.57%	1.36%	1.74%	2.27%	2.26%	2.04%	2.18%	2.78%

Frequently Asked Questions

Can I hold both LKFIX and LKBAX in my portfolio?

LKFIX and LKBAX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LKFIX or LKBAX?

LKBAX has higher volatility (1.61%) compared to LKFIX (1.01%). In terms of maximum drawdown, LKFIX dropped -8.97% vs LKBAX's -31.40%.

Which has better risk-adjusted returns?

LKFIX currently has the higher Sharpe Ratio (1.70 vs 1.29), 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.