- ISIN
- US1152333480
- CUSIP
- 115233348
- Issuer
- Brown Advisory Funds
- Inception Date
- Dec 1, 2019
- Category
- Municipal Bonds
- Min. Investment
- $100
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
BITEX Performance Chart
Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) is up 1.4% since the beginning of the year. BITEX is currently trading at $9 per share. Investors who bought $1,000 worth of BITEX shares 5 years ago would now be looking at an investment worth $1,026.
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Returns By Period
Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) has returned 1.44% so far this year and 6.29% over the past 12 months.
Brown Advisory Tax-Exempt Sustainable Bond Fund
- 1D
- 0.11%
- 1M
- 1.29%
- YTD
- 1.44%
- 6M
- 1.86%
- 1Y
- 6.29%
- 3Y*
- 3.59%
- 5Y*
- 0.52%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BITEX Monthly Returns History
Based on dividend-adjusted daily data since Dec 2, 2019, BITEX's average daily return is 0.00%, while the average monthly return is +0.09%. At this rate, an investment would double in approximately 64.2 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2023 with a return of +5.0%, while the worst month was Mar 2020 at -4.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BITEX closed higher 33% of trading days. The best single day was Mar 25, 2020 with a return of +3.1%, while the worst single day was Mar 19, 2020 at -2.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.62% | 1.25% | -1.99% | 0.96% | 0.52% | 0.11% | 1.44% | ||||||
| 2025 | 0.11% | 1.04% | -1.34% | -0.36% | -0.03% | 0.64% | -0.14% | 0.76% | 1.87% | 1.08% | 0.29% | 0.30% | 4.27% |
| 2024 | -0.47% | 0.17% | 0.08% | -0.80% | -0.13% | 1.65% | 0.86% | 0.75% | 0.66% | -1.11% | 1.40% | -1.01% | 2.02% |
| 2023 | 1.92% | -1.50% | 1.39% | -0.22% | -0.37% | 0.50% | 0.39% | -0.80% | -2.26% | -1.72% | 4.97% | 2.20% | 4.35% |
| 2022 | -2.36% | -0.61% | -3.56% | -2.41% | 0.44% | -1.30% | 1.65% | -1.62% | -2.75% | -0.47% | 3.52% | -0.12% | -9.40% |
| 2021 | 0.60% | -1.38% | 0.62% | 0.91% | 0.50% | 0.41% | 0.90% | -0.27% | -0.66% | -0.30% | 0.80% | 0.09% | 2.21% |
Benchmark Metrics
Brown Advisory Tax-Exempt Sustainable Bond Fund has an annualized alpha of 0.59%, beta of 0.03, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since December 02, 2019.
- This fund participated in 23.21% of S&P 500 Index downside but only 11.57% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.03 may look defensive, but with R2 of 0.03 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.03 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.59%
- Beta
- 0.03
- R²
- 0.03
- Upside Capture
- 11.57%
- Downside Capture
- 23.21%
Expense Ratio
BITEX has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BITEX ranks 71 for risk / return — better than 71% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) and compare them to S&P 500 Index.
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.
| BITEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.37 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.78 | -0.35 |
| Martin ratioReturn relative to average drawdown | 8.25 | 12.44 | -4.19 |
Dividends
Dividend History
Brown Advisory Tax-Exempt Sustainable Bond Fund provided a 3.51% dividend yield over the last twelve months, with an annual payout of $0.32 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.30 | $0.30 | $0.26 | $0.11 | $0.20 | $0.15 | $0.01 |
Dividend yield | 3.51% | 3.25% | 3.32% | 2.78% | 1.25% | 2.00% | 1.45% | 0.09% |
Monthly Dividends
The table displays the monthly dividend distributions for Brown Advisory Tax-Exempt Sustainable Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.00 | $0.13 | ||||||
| 2025 | $0.00 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2023 | $0.02 | $0.02 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.26 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.02 | $0.02 | $0.02 | $0.11 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.11 | $0.20 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Brown Advisory Tax-Exempt Sustainable Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Brown Advisory Tax-Exempt Sustainable Bond Fund was 13.06%, occurring on Oct 25, 2022. Recovery took 798 trading sessions.
The current Brown Advisory Tax-Exempt Sustainable Bond Fund drawdown is 0.43%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -13.06%Oct 2022 | 1y 2mo | 3y 2mo | 4y 4moAug 2021 - Dec 2025 |
COVID crash2020 | -11.22%Mar 2020 | 10d | 1y 2mo | 1y 2moMar 2020 - Jun 2021 |
2026 pullback2026 | -2.60%Mar 2026 | 22d | — | 3mo 23dMar 2026 - now |
2021 pullback2021 | -0.39%Jun 2021 | 8d | 12d | 20dJun 2021 - Jul 2021 |
2026 pullback2026 | -0.33%Jan 2026 | 1d | 9d | 10dJan 2026 - Jan 2026 |
Drawdown Indicators
| BITEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.06% | -56.78% | +43.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -9.10% | +6.50% |
Max Drawdown (3Y)Largest decline over 3 years | -4.76% | -18.90% | +14.14% |
Max Drawdown (5Y)Largest decline over 5 years | -13.06% | -25.43% | +12.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.43% | -1.80% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -10.71% | +6.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 2.03% | -1.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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