MIIBX vs. MAGSX

Last updated Jun 4, 2026

MIIBX (Madison High Quality Bond Fund) and MAGSX (Madison Aggressive Allocation Fund) are both mutual funds - MIIBX is a Short-Term Bond fund managed by Madison Funds, while MAGSX is a Diversified Portfolio fund managed by Madison Funds. Over the past 10 years, MIIBX returned 1.40%/yr vs 7.63%/yr for MAGSX. At a correlation of -0.12, they often move in opposite directions. MIIBX charges 0.50%/yr vs 0.71%/yr for MAGSX.

Performance

MIIBX vs. MAGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison High Quality Bond Fund (MIIBX) and Madison Aggressive Allocation Fund (MAGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIIBX achieves a 0.08% return, which is significantly lower than MAGSX's 11.14% return. Over the past 10 years, MIIBX has underperformed MAGSX with an annualized return of 1.40%, while MAGSX has yielded a comparatively higher 7.63% annualized return.

MIIBX

• 1D: 0.00%
• 1M: 0.10%
• YTD: 0.08%
• 6M: 0.12%
• 1Y: 3.40%
• 3Y*: 3.99%
• 5Y*: 1.03%
• 10Y*: 1.40%

MAGSX

• 1D: -0.59%
• 1M: 3.56%
• YTD: 11.14%
• 6M: 11.81%
• 1Y: 21.06%
• 3Y*: 12.58%
• 5Y*: 5.15%
• 10Y*: 7.63%

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

MIIBX vs. MAGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIIBX Madison High Quality Bond Fund	0.08%	6.21%	2.74%	4.55%	-7.13%	-1.76%	4.50%	4.54%	0.91%	1.14%
MAGSX Madison Aggressive Allocation Fund	11.14%	12.48%	6.46%	12.32%	-15.38%	9.50%	9.65%	19.21%	-6.59%	18.04%

Correlation

The correlation between MIIBX and MAGSX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jul 5, 2006	-0.12

The correlation between MIIBX and MAGSX shifts across timeframes, from -0.12 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MIIBX vs. MAGSX — Risk / Return Rank

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

MIIBX

MIIBX Risk / Return Rank: 28
MIIBX Sharpe Ratio Rank: 27
MIIBX Sortino Ratio Rank: 31
MIIBX Omega Ratio Rank: 31
MIIBX Calmar Ratio Rank: 29
MIIBX Martin Ratio Rank: 25

MAGSX

MAGSX Risk / Return Rank: 47
MAGSX Sharpe Ratio Rank: 47
MAGSX Sortino Ratio Rank: 47
MAGSX Omega Ratio Rank: 45
MAGSX Calmar Ratio Rank: 43
MAGSX Martin Ratio Rank: 52

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.

MIIBX vs. MAGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison High Quality Bond Fund (MIIBX) and Madison Aggressive Allocation Fund (MAGSX). 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.

	MIIBX	MAGSX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.02	-0.52
Sortino ratio: Return per unit of downside risk	2.32	2.91	-0.59
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.01	2.49	-0.47
Martin ratio: Return relative to average drawdown	6.18	10.56	-4.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIIBX vs. MAGSX - Sharpe Ratio Comparison

The current MIIBX Sharpe Ratio is 1.49, which is comparable to the MAGSX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of MIIBX and MAGSX, 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

	MIIBX	MAGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.02	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.42	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.59	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.36	+0.61

Drawdowns

MIIBX vs. MAGSX - Drawdown Comparison

The maximum MIIBX drawdown since its inception was -11.12%, smaller than the maximum MAGSX drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for MIIBX and MAGSX.

Drawdown Indicators

	MIIBX	MAGSX	Difference
Max Drawdown Largest peak-to-trough decline	-11.12%	-56.06%	+44.94%
Max Drawdown (1Y) Largest decline over 1 year	-1.70%	-8.63%	+6.93%
Max Drawdown (3Y) Largest decline over 3 years	-2.33%	-15.35%	+13.02%
Max Drawdown (5Y) Largest decline over 5 years	-10.69%	-21.13%	+10.44%
Max Drawdown (10Y) Largest decline over 10 years	-11.12%	-23.20%	+12.08%
Current Drawdown Current decline from peak	-1.04%	-0.59%	-0.45%
Average Drawdown Average peak-to-trough decline	-1.25%	-9.47%	+8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	2.03%	-1.48%

Volatility

MIIBX vs. MAGSX - Volatility Comparison

The current volatility for Madison High Quality Bond Fund (MIIBX) is 0.79%, while Madison Aggressive Allocation Fund (MAGSX) has a volatility of 3.34%. This indicates that MIIBX experiences smaller price fluctuations and is considered to be less risky than MAGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIIBX	MAGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	3.34%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	1.63%	8.59%	-6.96%
Volatility (1Y) Calculated over the trailing 1-year period	2.29%	10.64%	-8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.53%	12.18%	-8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.77%	13.07%	-10.30%

MIIBX vs. MAGSX - Expense Ratio Comparison

MIIBX has a 0.50% expense ratio, which is lower than MAGSX's 0.71% expense ratio.

Dividends

MIIBX vs. MAGSX - Dividend Comparison

MIIBX's dividend yield for the trailing twelve months is around 3.47%, less than MAGSX's 5.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAGSX Madison Aggressive Allocation Fund	5.55%	6.17%	2.02%	1.89%	1.26%	9.97%	8.66%	5.42%	10.79%	5.89%	3.82%	9.57%
MIIBX Madison High Quality Bond Fund	3.47%	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

Can I hold both MIIBX and MAGSX in my portfolio?

MIIBX and MAGSX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIIBX or MAGSX?

MAGSX has higher volatility (3.34%) compared to MIIBX (0.79%). In terms of maximum drawdown, MIIBX dropped -11.12% vs MAGSX's -56.06%.

Which has better risk-adjusted returns?

MAGSX currently has the higher Sharpe Ratio (2.02 vs 1.49), 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.