TSBIX vs. BAGSX
TSBIX (TIAA-CREF Core Impact Bond Fund Institutional Class) and BAGSX (Baird Aggregate Bond Fund) are both mutual funds - TSBIX is a Total Bond Market fund managed by TIAA Investments, while BAGSX is a Intermediate Core Bond fund managed by Baird. Over the past 10 years, TSBIX returned 2.05%/yr vs 1.66%/yr for BAGSX. Their correlation of 0.92 suggests significant overlap in exposure. TSBIX charges 0.35%/yr vs 0.55%/yr for BAGSX.
Performance
TSBIX vs. BAGSX - Performance Comparison
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Returns By Period
In the year-to-date period, TSBIX achieves a 0.46% return, which is significantly higher than BAGSX's 0.21% return. Over the past 10 years, TSBIX has outperformed BAGSX with an annualized return of 2.05%, while BAGSX has yielded a comparatively lower 1.66% annualized return.
TSBIX
- 1D
- -0.22%
- 1M
- 0.69%
- YTD
- 0.46%
- 6M
- 1.20%
- 1Y
- 5.39%
- 3Y*
- 5.28%
- 5Y*
- 0.52%
- 10Y*
- 2.05%
BAGSX
- 1D
- -0.29%
- 1M
- 0.72%
- YTD
- 0.21%
- 6M
- 0.42%
- 1Y
- 4.05%
- 3Y*
- 4.14%
- 5Y*
- 0.04%
- 10Y*
- 1.66%
TSBIX vs. BAGSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSBIX TIAA-CREF Core Impact Bond Fund Institutional Class | 0.46% | 8.69% | 3.32% | 6.05% | -14.43% | -1.03% | 7.43% | 8.94% | 0.08% | 4.52% |
BAGSX Baird Aggregate Bond Fund | 0.21% | 7.11% | 1.63% | 6.12% | -13.52% | -1.74% | 8.42% | 9.17% | -0.55% | 3.90% |
Correlation
The correlation between TSBIX and BAGSX is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012 | 0.92 |
The correlation between TSBIX and BAGSX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
TSBIX vs. BAGSX — Risk / Return Rank
TSBIX
BAGSX
TSBIX vs. BAGSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Core Impact Bond Fund Institutional Class (TSBIX) and Baird Aggregate Bond Fund (BAGSX). 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.
| TSBIX | BAGSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 1.54 | +0.44 |
| Martin ratioReturn relative to average drawdown | 5.59 | 4.27 | +1.32 |
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Drawdowns
TSBIX vs. BAGSX - Drawdown Comparison
The maximum TSBIX drawdown since its inception was -19.21%, roughly equal to the maximum BAGSX drawdown of -18.97%. Use the drawdown chart below to compare losses from any high point for TSBIX and BAGSX.
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Drawdown Indicators
| TSBIX | BAGSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.21% | -18.97% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.84% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -6.17% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -19.21% | -18.84% | -0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -19.21% | -18.97% | -0.24% |
Current DrawdownCurrent decline from peak | -1.54% | -1.63% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -2.52% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.02% | -0.01% |
Volatility
TSBIX vs. BAGSX - Volatility Comparison
The current volatility for TIAA-CREF Core Impact Bond Fund Institutional Class (TSBIX) is 1.09%, while Baird Aggregate Bond Fund (BAGSX) has a volatility of 1.15%. This indicates that TSBIX experiences smaller price fluctuations and is considered to be less risky than BAGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSBIX | BAGSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.15% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.77% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.74% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 5.93% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 4.90% | -0.05% |
TSBIX vs. BAGSX - Expense Ratio Comparison
TSBIX has a 0.35% expense ratio, which is lower than BAGSX's 0.55% expense ratio.
Dividends
TSBIX vs. BAGSX - Dividend Comparison
TSBIX's dividend yield for the trailing twelve months is around 4.73%, more than BAGSX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGSX Baird Aggregate Bond Fund | 3.81% | 3.69% | 3.62% | 3.10% | 2.33% | 1.68% | 3.02% | 2.41% | 2.53% | 2.21% | 1.96% | 2.14% |
TSBIX TIAA-CREF Core Impact Bond Fund Institutional Class | 4.73% | 5.38% | 5.10% | 3.77% | 2.31% | 1.69% | 4.56% | 3.68% | 2.63% | 2.45% | 3.19% | 2.89% |
Frequently Asked Questions
With a correlation of 0.90, TSBIX and BAGSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BAGSX has higher volatility (1.15%) compared to TSBIX (1.09%). In terms of maximum drawdown, TSBIX dropped -19.21% vs BAGSX's -18.97%.
TSBIX currently has the higher Sharpe Ratio (1.48 vs 1.17), 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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