PBBBX vs. MIFIX
PBBBX (PIA BBB Bond Fund) and MIFIX (Miller Intermediate Bond Fund) are both Corporate Bonds funds. Over the past 10 years, PBBBX returned 2.90%/yr vs 5.13%/yr for MIFIX. At a 0.17 correlation, their price movements are largely independent. PBBBX charges 0.15%/yr vs 0.99%/yr for MIFIX.
Performance
PBBBX vs. MIFIX - Performance Comparison
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Returns By Period
In the year-to-date period, PBBBX achieves a 0.60% return, which is significantly lower than MIFIX's 4.56% return. Over the past 10 years, PBBBX has underperformed MIFIX with an annualized return of 2.90%, while MIFIX has yielded a comparatively higher 5.13% annualized return.
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
- 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 vs. MIFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between PBBBX and MIFIX 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, PBBBX and MIFIX 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
PBBBX vs. MIFIX — Risk / Return Rank
PBBBX
MIFIX
PBBBX vs. MIFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA BBB Bond Fund (PBBBX) and Miller Intermediate Bond Fund (MIFIX). 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.
| PBBBX | MIFIX | 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 | 1.25 | 1.66 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.68 | -1.96 |
| Martin ratioReturn relative to average drawdown | 5.21 | 14.59 | -9.38 |
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Drawdowns
PBBBX vs. MIFIX - Drawdown Comparison
The maximum PBBBX drawdown since its inception was -23.00%, which is greater than MIFIX's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for PBBBX and MIFIX.
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Drawdown Indicators
| PBBBX | MIFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.00% | -15.58% | -7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -2.68% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | -5.39% | -1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -23.00% | -11.87% | -11.13% |
Max Drawdown (10Y)Largest decline over 10 years | -23.00% | -15.58% | -7.42% |
Current DrawdownCurrent decline from peak | -1.02% | -0.79% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -2.05% | -1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.67% | +0.42% |
Volatility
PBBBX vs. MIFIX - Volatility Comparison
PIA BBB Bond Fund (PBBBX) has a higher volatility of 1.20% compared to Miller Intermediate Bond Fund (MIFIX) at 1.12%. This indicates that PBBBX's price experiences larger fluctuations and is considered to be riskier than MIFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBBBX | MIFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.12% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 2.28% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 3.07% | +1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 5.00% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 5.42% | +0.61% |
PBBBX vs. MIFIX - Expense Ratio Comparison
PBBBX has a 0.15% expense ratio, which is lower than MIFIX's 0.99% expense ratio.
Dividends
PBBBX vs. MIFIX - Dividend Comparison
PBBBX's dividend yield for the trailing twelve months is around 3.77%, less than MIFIX's 4.41% 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
PBBBX and MIFIX 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, PBBBX dropped -23.00% vs MIFIX's -15.58%.
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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