VPLS vs. BAGSX

Last updated Jun 23, 2026

VPLS (Vanguard Core-Plus Bond ETF) and BAGSX (Baird Aggregate Bond Fund) are both funds - VPLS is a Intermediate Core-Plus Bond fund actively managed by Vanguard, while BAGSX is a Intermediate Core Bond fund managed by Baird. Over the past year, VPLS returned 5.30% vs 4.66% for BAGSX. Their correlation of 0.94 suggests significant overlap in exposure. VPLS charges 0.20%/yr vs 0.55%/yr for BAGSX.

Performance

VPLS vs. BAGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond ETF (VPLS) and Baird Aggregate Bond Fund (BAGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPLS achieves a 0.80% return, which is significantly higher than BAGSX's 0.50% return.

VPLS

• 1D: -0.20%
• 1M: 0.62%
• YTD: 0.80%
• 6M: 0.89%
• 1Y: 5.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAGSX

• 1D: 0.29%
• 1M: 1.02%
• YTD: 0.50%
• 6M: 0.71%
• 1Y: 4.66%
• 3Y*: 4.32%
• 5Y*: 0.03%
• 10Y*: 1.72%

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

VPLS vs. BAGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VPLS Vanguard Core-Plus Bond ETF	0.80%	7.86%	2.72%	2.83%
BAGSX Baird Aggregate Bond Fund	0.50%	7.11%	1.63%	2.51%

Correlation

The correlation between VPLS and BAGSX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.94

The correlation between VPLS and BAGSX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

VPLS vs. BAGSX — Risk / Return Rank

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

VPLS

VPLS Risk / Return Rank: 42
VPLS Sharpe Ratio Rank: 43
VPLS Sortino Ratio Rank: 45
VPLS Omega Ratio Rank: 41
VPLS Calmar Ratio Rank: 40
VPLS Martin Ratio Rank: 39

BAGSX

BAGSX Risk / Return Rank: 22
BAGSX Sharpe Ratio Rank: 22
BAGSX Sortino Ratio Rank: 23
BAGSX Omega Ratio Rank: 22
BAGSX Calmar Ratio Rank: 23
BAGSX Martin Ratio Rank: 19

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.

VPLS vs. BAGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) 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.

	VPLS	BAGSX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.26	+0.22
Sortino ratio: Return per unit of downside risk	2.19	1.86	+0.33
Omega ratio: Gain probability vs. loss probability	1.26	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	1.96	1.65	+0.31
Martin ratio: Return relative to average drawdown	6.12	4.59	+1.53

VPLS vs. BAGSX - Sharpe Ratio Comparison

The current VPLS Sharpe Ratio is 1.48, which is comparable to the BAGSX Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of VPLS and BAGSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VPLS vs. BAGSX - Drawdown Comparison

The maximum VPLS drawdown since its inception was -4.17%, smaller than the maximum BAGSX drawdown of -18.97%. Use the drawdown chart below to compare losses from any high point for VPLS and BAGSX.

Drawdown Indicators

	VPLS	BAGSX	Difference
Max Drawdown Largest peak-to-trough decline	-4.17%	-18.97%	+14.80%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-2.84%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.97%	—
Current Drawdown Current decline from peak	-1.06%	-1.34%	+0.28%
Average Drawdown Average peak-to-trough decline	-1.01%	-2.52%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	1.02%	-0.15%

Volatility

VPLS vs. BAGSX - Volatility Comparison

The current volatility for Vanguard Core-Plus Bond ETF (VPLS) is 0.96%, while Baird Aggregate Bond Fund (BAGSX) has a volatility of 1.18%. This indicates that VPLS 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.

Volatility by Period

	VPLS	BAGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	1.18%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	2.76%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	3.72%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	5.93%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	4.90%	-0.31%

VPLS vs. BAGSX - Expense Ratio Comparison

VPLS has a 0.20% expense ratio, which is lower than BAGSX's 0.55% expense ratio.

Dividends

VPLS vs. BAGSX - Dividend Comparison

VPLS's dividend yield for the trailing twelve months is around 4.75%, more than BAGSX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAGSX Baird Aggregate Bond Fund	3.79%	3.69%	3.62%	3.10%	2.33%	1.68%	3.02%	2.41%	2.53%	2.21%	1.96%	2.14%
VPLS Vanguard Core-Plus Bond ETF	4.75%	4.78%	4.52%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VPLS and BAGSX in my portfolio?

With a correlation of 0.96, VPLS 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.

Which is riskier, VPLS or BAGSX?

BAGSX has higher volatility (1.18%) compared to VPLS (0.96%). In terms of maximum drawdown, VPLS dropped -4.17% vs BAGSX's -18.97%.

Which has better risk-adjusted returns?

VPLS currently has the higher Sharpe Ratio (1.48 vs 1.26), 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.