MBOAX vs. MIIBX
MBOAX (Madison Core Bond Fund) and MIIBX (Madison High Quality Bond Fund) are both mutual funds - MBOAX is a Intermediate Core Bond fund managed by Madison, while MIIBX is a Short-Term Bond fund managed by Madison. Over the past 10 years, MBOAX returned 1.36%/yr vs 1.34%/yr for MIIBX. Their correlation of 0.86 means they have usually moved in the same direction. MBOAX charges 0.85%/yr vs 0.50%/yr for MIIBX.
Performance
MBOAX vs. MIIBX - Performance Comparison
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Returns By Period
In the year-to-date period, MBOAX achieves a -0.68% return, which is significantly lower than MIIBX's 0.03% return. Both investments have delivered pretty close results over the past 10 years, with MBOAX having a 1.36% annualized return and MIIBX not far behind at 1.34%.
MBOAX
- 1D
- -0.22%
- 1M
- -0.99%
- 6M
- -0.93%
- YTD
- -0.68%
- 1Y
- 1.88%
- 3Y*
- 3.67%
- 5Y*
- -0.47%
- 10Y*
- 1.36%
- ALL TIME*
- 3.00%
MIIBX
- 1D
- 0.00%
- 1M
- -0.19%
- 6M
- -0.06%
- YTD
- 0.03%
- 1Y
- 1.80%
- 3Y*
- 4.02%
- 5Y*
- 0.90%
- 10Y*
- 1.34%
- ALL TIME*
- 2.70%
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 |
MBOAX vs. MIIBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBOAX Madison Core Bond Fund | -0.68% | 6.96% | 1.14% | 5.63% | -12.82% | -1.85% | 9.22% | 8.31% | -0.98% | 3.02% |
MIIBX Madison High Quality Bond Fund | 0.03% | 6.21% | 2.74% | 4.55% | -7.13% | -1.76% | 4.50% | 4.54% | 0.91% | 1.14% |
Correlation
The correlation between MBOAX and MIIBX is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2000 | 0.86 |
The correlation between MBOAX and MIIBX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
MBOAX vs. MIIBX — Risk / Return Rank
MBOAX
MIIBX
MBOAX vs. MIIBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Core Bond Fund (MBOAX) and Madison High Quality Bond Fund (MIIBX). 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.
| MBOAX | MIIBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.21 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 1.47 | -0.57 |
| Martin ratioReturn relative to average drawdown | 2.25 | 3.61 | -1.36 |
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Drawdowns
MBOAX vs. MIIBX - Drawdown Comparison
The maximum MBOAX drawdown since its inception was -17.78%, which is greater than MIIBX's maximum drawdown of -11.12%. Use the drawdown chart below to compare losses from any high point for MBOAX and MIIBX.
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Drawdown Indicators
| MBOAX | MIIBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.78% | -11.12% | -6.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -1.70% | -1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -5.07% | -2.33% | -2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -17.55% | -10.69% | -6.86% |
Max Drawdown (10Y)Largest decline over 10 years | -17.78% | -11.12% | -6.66% |
Current DrawdownCurrent decline from peak | -2.88% | -1.09% | -1.79% |
Average DrawdownAverage peak-to-trough decline | -2.36% | -1.25% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.69% | +0.48% |
Volatility
MBOAX vs. MIIBX - Volatility Comparison
Madison Core Bond Fund (MBOAX) has a higher volatility of 1.02% compared to Madison High Quality Bond Fund (MIIBX) at 0.59%. This indicates that MBOAX's price experiences larger fluctuations and is considered to be riskier than MIIBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBOAX | MIIBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.59% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 1.76% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 2.26% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 3.54% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.66% | 2.78% | +1.88% |
MBOAX vs. MIIBX - Expense Ratio Comparison
MBOAX has a 0.85% expense ratio, which is higher than MIIBX's 0.50% expense ratio.
Dividends
MBOAX vs. MIIBX - Dividend Comparison
MBOAX's dividend yield for the trailing twelve months is around 3.26%, less than MIIBX's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBOAX Madison Core Bond Fund | 3.26% | 3.39% | 3.27% | 2.73% | 1.88% | 1.85% | 3.77% | 2.42% | 2.48% | 2.28% | 2.72% | 4.60% |
MIIBX Madison High Quality Bond Fund | 3.56% | 3.34% | 3.02% | 2.17% | 1.23% | 1.54% | 1.28% | 1.87% | 1.73% | 1.41% | 1.23% | 1.35% |
Frequently Asked Questions
MBOAX and MIIBX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBOAX has higher volatility (1.02%) compared to MIIBX (0.59%). In terms of maximum drawdown, MBOAX dropped -17.78% vs MIIBX's -11.12%.
MIIBX currently has the higher Sharpe Ratio (1.10 vs 0.71), 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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