PIMIX vs. BAGIX
PIMIX (PIMCO Income Fund Institutional Class) and BAGIX (Baird Aggregate Bond Fund Class I) are both mutual funds - PIMIX is a Multisector Bonds fund actively managed by PIMCO, while BAGIX is a Total Bond Market fund managed by Baird. Over the past 10 years, PIMIX returned 4.70%/yr vs 1.94%/yr for BAGIX. A 0.58 correlation means they provide meaningful diversification when combined. PIMIX charges 0.54%/yr vs 0.30%/yr for BAGIX.
Performance
PIMIX vs. BAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, PIMIX achieves a 0.91% return, which is significantly higher than BAGIX's 0.53% return. Over the past 10 years, PIMIX has outperformed BAGIX with an annualized return of 4.70%, while BAGIX has yielded a comparatively lower 1.94% annualized return.
PIMIX
- 1D
- 0.56%
- 1M
- 1.76%
- YTD
- 0.91%
- 6M
- 1.78%
- 1Y
- 7.88%
- 3Y*
- 7.70%
- 5Y*
- 3.44%
- 10Y*
- 4.70%
BAGIX
- 1D
- 0.51%
- 1M
- 1.19%
- YTD
- 0.53%
- 6M
- 1.08%
- 1Y
- 5.04%
- 3Y*
- 4.52%
- 5Y*
- 0.29%
- 10Y*
- 1.94%
PIMIX vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIMIX PIMCO Income Fund Institutional Class | 0.91% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 8.63% |
BAGIX Baird Aggregate Bond Fund Class I | 0.53% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
Correlation
The correlation between PIMIX and BAGIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.58 |
Over the past year, PIMIX and BAGIX have become more correlated (0.84) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
PIMIX vs. BAGIX — Risk / Return Rank
PIMIX
BAGIX
PIMIX vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Institutional Class (PIMIX) and Baird Aggregate Bond Fund Class I (BAGIX). 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.
| PIMIX | BAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.86 | +0.27 |
| Martin ratioReturn relative to average drawdown | 7.21 | 5.32 | +1.89 |
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Drawdowns
PIMIX vs. BAGIX - Drawdown Comparison
The maximum PIMIX drawdown since its inception was -13.39%, smaller than the maximum BAGIX drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for PIMIX and BAGIX.
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Drawdown Indicators
| PIMIX | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.39% | -18.62% | +5.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -2.72% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -6.05% | +2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -13.34% | -18.60% | +5.26% |
Max Drawdown (10Y)Largest decline over 10 years | -13.39% | -18.62% | +5.23% |
Current DrawdownCurrent decline from peak | -1.02% | -1.26% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -2.35% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.95% | +0.13% |
Volatility
PIMIX vs. BAGIX - Volatility Comparison
PIMCO Income Fund Institutional Class (PIMIX) has a higher volatility of 1.67% compared to Baird Aggregate Bond Fund Class I (BAGIX) at 1.26%. This indicates that PIMIX's price experiences larger fluctuations and is considered to be riskier than BAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIMIX | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.26% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 2.66% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 3.75% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 5.93% | -1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 4.89% | -0.63% |
PIMIX vs. BAGIX - Expense Ratio Comparison
PIMIX has a 0.54% expense ratio, which is higher than BAGIX's 0.30% expense ratio.
Dividends
PIMIX vs. BAGIX - Dividend Comparison
PIMIX's dividend yield for the trailing twelve months is around 5.83%, more than BAGIX's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 4.23% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
PIMIX PIMCO Income Fund Institutional Class | 5.83% | 6.01% | 6.27% | 6.21% | 4.98% | 4.02% | 4.88% | 5.83% | 5.66% | 5.37% | 5.52% | 7.88% |
Frequently Asked Questions
PIMIX and BAGIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.67%) compared to BAGIX (1.26%). In terms of maximum drawdown, PIMIX dropped -13.39% vs BAGIX's -18.62%.
PIMIX currently has the higher Sharpe Ratio (1.88 vs 1.35), 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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