MIFIX vs. PBBBX
MIFIX (Miller Intermediate Bond Fund) and PBBBX (PIA BBB Bond Fund) are both Corporate Bonds funds. Over the past 10 years, MIFIX returned 5.13%/yr vs 2.90%/yr for PBBBX. At a 0.17 correlation, their price movements are largely independent. MIFIX charges 0.99%/yr vs 0.15%/yr for PBBBX.
Performance
MIFIX vs. PBBBX - Performance Comparison
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Returns By Period
In the year-to-date period, MIFIX achieves a 4.56% return, which is significantly higher than PBBBX's 0.60% return. Over the past 10 years, MIFIX has outperformed PBBBX with an annualized return of 5.13%, while PBBBX has yielded a comparatively lower 2.90% annualized return.
MIFIX
- 1D
- -0.06%
- 1M
- 0.59%
- YTD
- 4.56%
- 6M
- 4.37%
- 1Y
- 9.75%
- 3Y*
- 7.64%
- 5Y*
- 3.89%
- 10Y*
- 5.13%
PBBBX
- 1D
- 0.12%
- 1M
- 1.16%
- YTD
- 0.60%
- 6M
- 0.91%
- 1Y
- 5.54%
- 3Y*
- 5.65%
- 5Y*
- 0.40%
- 10Y*
- 2.90%
MIFIX vs. PBBBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIFIX Miller Intermediate Bond Fund | 4.56% | 7.11% | 7.31% | 6.88% | -7.72% | 4.32% | 14.22% | 9.79% | -1.91% | 3.10% |
PBBBX PIA BBB Bond Fund | 0.60% | 8.14% | 2.41% | 9.19% | -16.35% | -1.20% | 9.37% | 16.49% | -3.02% | 7.16% |
Correlation
The correlation between MIFIX and PBBBX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.17 |
Over the past year, MIFIX and PBBBX have become more correlated (0.45) than their long-term average of 0.17, meaning their price movements have been converging.
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Return for Risk
MIFIX vs. PBBBX — Risk / Return Rank
MIFIX
PBBBX
MIFIX vs. PBBBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Intermediate Bond Fund (MIFIX) and PIA BBB Bond Fund (PBBBX). 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.
| MIFIX | PBBBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.25 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 1.72 | +1.96 |
| Martin ratioReturn relative to average drawdown | 14.59 | 5.21 | +9.38 |
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Drawdowns
MIFIX vs. PBBBX - Drawdown Comparison
The maximum MIFIX drawdown since its inception was -15.58%, smaller than the maximum PBBBX drawdown of -23.00%. Use the drawdown chart below to compare losses from any high point for MIFIX and PBBBX.
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Drawdown Indicators
| MIFIX | PBBBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.58% | -23.00% | +7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -3.30% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -5.39% | -6.39% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -11.87% | -23.00% | +11.13% |
Max Drawdown (10Y)Largest decline over 10 years | -15.58% | -23.00% | +7.42% |
Current DrawdownCurrent decline from peak | -0.79% | -1.02% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -3.48% | +1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 1.09% | -0.42% |
Volatility
MIFIX vs. PBBBX - Volatility Comparison
The current volatility for Miller Intermediate Bond Fund (MIFIX) is 1.12%, while PIA BBB Bond Fund (PBBBX) has a volatility of 1.20%. This indicates that MIFIX experiences smaller price fluctuations and is considered to be less risky than PBBBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIFIX | PBBBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.20% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 3.11% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 4.07% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 6.68% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 6.03% | -0.61% |
MIFIX vs. PBBBX - Expense Ratio Comparison
MIFIX has a 0.99% expense ratio, which is higher than PBBBX's 0.15% expense ratio.
Dividends
MIFIX vs. PBBBX - Dividend Comparison
MIFIX's dividend yield for the trailing twelve months is around 4.41%, more than PBBBX's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIFIX Miller Intermediate Bond Fund | 4.41% | 4.59% | 4.08% | 3.60% | 3.62% | 5.87% | 5.16% | 2.36% | 5.16% | 3.90% | 1.48% | 1.78% |
PBBBX PIA BBB Bond Fund | 3.77% | 4.02% | 3.82% | 3.57% | 3.24% | 2.85% | 3.16% | 3.78% | 4.20% | 3.75% | 3.95% | 4.12% |
Frequently Asked Questions
MIFIX and PBBBX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBBBX has higher volatility (1.20%) compared to MIFIX (1.12%). In terms of maximum drawdown, MIFIX dropped -15.58% vs PBBBX's -23.00%.
MIFIX currently has the higher Sharpe Ratio (3.21 vs 1.40), 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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