TCPYX vs. BFMCX

Last updated Jun 3, 2026

TCPYX (Touchstone Impact Bond Fund) and BFMCX (BlackRock Core Bond Portfolio) are both Intermediate Core Bond funds. Over the past 10 years, TCPYX returned 1.55%/yr vs 1.56%/yr for BFMCX. Their correlation of 0.88 suggests significant overlap in exposure. TCPYX charges 0.51%/yr vs 0.44%/yr for BFMCX.

Performance

TCPYX vs. BFMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Impact Bond Fund (TCPYX) and BlackRock Core Bond Portfolio (BFMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with TCPYX at 0.31% and BFMCX at 0.31%. Both investments have delivered pretty close results over the past 10 years, with TCPYX having a 1.55% annualized return and BFMCX not far ahead at 1.56%.

TCPYX

• 1D: -0.11%
• 1M: -0.10%
• YTD: 0.31%
• 6M: 0.37%
• 1Y: 5.38%
• 3Y*: 4.03%
• 5Y*: 0.02%
• 10Y*: 1.55%

BFMCX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 0.31%
• 6M: 0.43%
• 1Y: 5.43%
• 3Y*: 3.53%
• 5Y*: -0.30%
• 10Y*: 1.56%

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

TCPYX vs. BFMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TCPYX Touchstone Impact Bond Fund	0.31%	6.75%	1.77%	5.32%	-13.07%	-1.01%	6.72%	7.91%	0.16%	3.94%
BFMCX BlackRock Core Bond Portfolio	0.31%	7.43%	0.66%	5.32%	-14.35%	-1.52%	8.32%	9.85%	-0.28%	3.16%

Correlation

The correlation between TCPYX and BFMCX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009	0.88

The correlation between TCPYX and BFMCX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

TCPYX vs. BFMCX — Risk / Return Rank

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

TCPYX

TCPYX Risk / Return Rank: 20
TCPYX Sharpe Ratio Rank: 19
TCPYX Sortino Ratio Rank: 20
TCPYX Omega Ratio Rank: 18
TCPYX Calmar Ratio Rank: 22
TCPYX Martin Ratio Rank: 20

BFMCX

BFMCX Risk / Return Rank: 19
BFMCX Sharpe Ratio Rank: 19
BFMCX Sortino Ratio Rank: 19
BFMCX Omega Ratio Rank: 18
BFMCX Calmar Ratio Rank: 22
BFMCX Martin Ratio Rank: 18

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.

TCPYX vs. BFMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Impact Bond Fund (TCPYX) and BlackRock Core Bond Portfolio (BFMCX). 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.

	TCPYX	BFMCX	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.28	-0.01
Sortino ratio Return per unit of downside risk	1.92	1.87	+0.05
Omega ratio Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio Return relative to maximum drawdown	1.76	1.77	-0.01
Martin ratio Return relative to average drawdown	5.37	5.21	+0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCPYX vs. BFMCX - Sharpe Ratio Comparison

The current TCPYX Sharpe Ratio is 1.27, which is comparable to the BFMCX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of TCPYX and BFMCX, 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

	TCPYX	BFMCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.28	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	-0.05	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.31	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.87	-0.18

Drawdowns

TCPYX vs. BFMCX - Drawdown Comparison

The maximum TCPYX drawdown since its inception was -18.12%, smaller than the maximum BFMCX drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for TCPYX and BFMCX.

Drawdown Indicators

	TCPYX	BFMCX	Difference
Max Drawdown Largest peak-to-trough decline	-18.12%	-19.49%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.92%	-3.25%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-5.79%	-6.76%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-18.12%	-19.32%	+1.20%
Max Drawdown (10Y) Largest decline over 10 years	-18.12%	-19.49%	+1.37%
Current Drawdown Current decline from peak	-2.20%	-3.64%	+1.44%
Average Drawdown Average peak-to-trough decline	-3.22%	-2.73%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.10%	-0.14%

Volatility

TCPYX vs. BFMCX - Volatility Comparison

Touchstone Impact Bond Fund (TCPYX) and BlackRock Core Bond Portfolio (BFMCX) have volatilities of 1.47% and 1.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCPYX	BFMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	1.42%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	3.06%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	4.08%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.90%	6.14%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	5.05%	-0.20%

TCPYX vs. BFMCX - Expense Ratio Comparison

TCPYX has a 0.51% expense ratio, which is higher than BFMCX's 0.44% expense ratio.

Dividends

TCPYX vs. BFMCX - Dividend Comparison

TCPYX's dividend yield for the trailing twelve months is around 3.94%, less than BFMCX's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFMCX BlackRock Core Bond Portfolio	4.36%	4.10%	3.86%	3.21%	1.86%	2.11%	5.78%	2.86%	3.02%	2.69%	2.41%	2.57%
TCPYX Touchstone Impact Bond Fund	3.94%	3.52%	3.68%	3.22%	2.63%	1.91%	2.13%	2.63%	2.86%	2.77%	2.98%	2.91%

Frequently Asked Questions

Can I hold both TCPYX and BFMCX in my portfolio?

TCPYX and BFMCX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCPYX or BFMCX?

TCPYX has higher volatility (1.47%) compared to BFMCX (1.42%). In terms of maximum drawdown, TCPYX dropped -18.12% vs BFMCX's -19.49%.

Which has better risk-adjusted returns?

BFMCX currently has the higher Sharpe Ratio (1.28 vs 1.27), 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.