MINVX vs. BHBFX
MINVX (Madison Investors Fund) and BHBFX (Madison Dividend Income Fund) are both mutual funds - MINVX is a Large Cap Blend Equities fund managed by Madison, while BHBFX is a Large Cap Value Equities fund managed by Madison. Over the past 10 years, MINVX returned 12.45%/yr vs 9.77%/yr for BHBFX. Their correlation of 0.91 means they have usually moved in the same direction. Both charge a 0.91% expense ratio.
Performance
MINVX vs. BHBFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MINVX achieves a 7.64% return, which is significantly lower than BHBFX's 12.04% return. Over the past 10 years, MINVX has outperformed BHBFX with an annualized return of 12.45%, while BHBFX has yielded a comparatively lower 9.77% annualized return.
MINVX
- 1D
- 1.41%
- 1M
- 0.77%
- 6M
- 2.24%
- YTD
- 7.64%
- 1Y
- 14.22%
- 3Y*
- 10.72%
- 5Y*
- 8.64%
- 10Y*
- 12.45%
- ALL TIME*
- 8.18%
BHBFX
- 1D
- 0.07%
- 1M
- 1.39%
- 6M
- 5.01%
- YTD
- 12.04%
- 1Y
- 16.83%
- 3Y*
- 8.96%
- 5Y*
- 6.05%
- 10Y*
- 9.77%
- ALL TIME*
- 10.03%
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 |
MINVX vs. BHBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINVX Madison Investors Fund | 7.64% | 3.30% | 16.38% | 26.12% | -13.18% | 22.70% | 14.48% | 30.48% | 0.64% | 22.53% |
BHBFX Madison Dividend Income Fund | 12.04% | 8.19% | 7.62% | 1.76% | -5.50% | 22.82% | 6.34% | 25.17% | -0.81% | 19.94% |
Correlation
The correlation between MINVX and BHBFX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1986 | 0.91 |
Over the past year, the correlation between MINVX and BHBFX has dropped to 0.67 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MINVX vs. BHBFX — Risk / Return Rank
MINVX
BHBFX
MINVX vs. BHBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Investors Fund (MINVX) and Madison Dividend Income Fund (BHBFX). 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.
| MINVX | BHBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.27 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 2.49 | -1.25 |
| Martin ratioReturn relative to average drawdown | 4.71 | 6.92 | -2.21 |
Loading charts...
Drawdowns
MINVX vs. BHBFX - Drawdown Comparison
The maximum MINVX drawdown since its inception was -52.40%, which is greater than BHBFX's maximum drawdown of -34.07%. Use the drawdown chart below to compare losses from any high point for MINVX and BHBFX.
Loading charts...
Drawdown Indicators
| MINVX | BHBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.40% | -34.07% | -18.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -6.39% | -3.61% |
Max Drawdown (3Y)Largest decline over 3 years | -16.23% | -14.32% | -1.91% |
Max Drawdown (5Y)Largest decline over 5 years | -21.46% | -23.80% | +2.34% |
Max Drawdown (10Y)Largest decline over 10 years | -33.85% | -32.34% | -1.51% |
Current DrawdownCurrent decline from peak | 0.00% | -1.10% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -3.69% | -3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.29% | +0.33% |
Volatility
MINVX vs. BHBFX - Volatility Comparison
Madison Investors Fund (MINVX) has a higher volatility of 3.51% compared to Madison Dividend Income Fund (BHBFX) at 3.04%. This indicates that MINVX's price experiences larger fluctuations and is considered to be riskier than BHBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MINVX | BHBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 3.04% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.18% | 7.40% | +2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.71% | 10.26% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.37% | 15.53% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 17.32% | -0.31% |
MINVX vs. BHBFX - Expense Ratio Comparison
Both MINVX and BHBFX have an expense ratio of 0.91%.
Dividends
MINVX vs. BHBFX - Dividend Comparison
MINVX's dividend yield for the trailing twelve months is around 6.78%, less than BHBFX's 11.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHBFX Madison Dividend Income Fund | 11.18% | 12.41% | 14.14% | 6.01% | 9.39% | 11.53% | 1.53% | 3.95% | 12.73% | 3.89% | 3.76% | 6.06% |
MINVX Madison Investors Fund | 6.78% | 7.30% | 6.09% | 8.18% | 6.64% | 7.82% | 9.86% | 6.02% | 18.77% | 5.91% | 3.31% | 16.40% |
Frequently Asked Questions
MINVX and BHBFX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MINVX has higher volatility (3.51%) compared to BHBFX (3.04%). In terms of maximum drawdown, MINVX dropped -52.40% vs BHBFX's -34.07%.
BHBFX currently has the higher Sharpe Ratio (1.56 vs 0.90), 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.
Find the right allocation for MINVX and BHBFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer