- ISIN
- US0570714909
- Issuer
- Baird
- Inception Date
- Nov 14, 2019
- Category
- Municipal Bonds
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
BMQSX Performance Chart
Baird Municipal Bond Fund (BMQSX) is up 1.6% since the beginning of the year. BMQSX is currently trading at $10 per share. Investors who bought $1,000 worth of BMQSX shares 5 years ago would now be looking at an investment worth $1,081.
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Returns By Period
Baird Municipal Bond Fund (BMQSX) has returned 1.55% so far this year and 6.57% over the past 12 months.
Baird Municipal Bond Fund
- 1D
- 0.00%
- 1M
- 1.42%
- YTD
- 1.55%
- 6M
- 1.77%
- 1Y
- 6.57%
- 3Y*
- 4.22%
- 5Y*
- 1.57%
- 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%
BMQSX Monthly Returns History
Based on dividend-adjusted daily data since Nov 15, 2019, BMQSX's average daily return is +0.01%, while the average monthly return is +0.27%. At this rate, an investment would double in approximately 21.4 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2023 with a return of +5.8%, while the worst month was Sep 2022 at -4.1%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BMQSX closed higher 41% of trading days. The best single day was Mar 25, 2020 with a return of +4.1%, 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 | 0.66% | 1.29% | -2.26% | 1.08% | 0.42% | 0.40% | 1.55% | ||||||
| 2025 | 0.00% | 1.14% | -1.42% | -0.46% | -0.03% | 0.61% | -0.19% | 0.81% | 2.23% | 1.10% | 0.39% | 0.21% | 4.44% |
| 2024 | 0.05% | 0.21% | 0.11% | -0.94% | -0.21% | 1.63% | 0.90% | 0.88% | 1.08% | -1.39% | 1.52% | -1.13% | 2.68% |
| 2023 | 2.89% | -2.06% | 1.80% | 0.06% | -0.74% | 0.98% | 0.28% | -0.95% | -2.61% | -1.17% | 5.83% | 2.47% | 6.67% |
| 2022 | -2.31% | -0.40% | -2.84% | -2.73% | 1.51% | -1.85% | 2.76% | -2.20% | -4.09% | -0.83% | 5.22% | 0.09% | -7.78% |
| 2021 | 0.77% | -1.23% | 0.69% | 0.98% | 0.50% | 0.49% | 0.77% | -0.15% | -0.71% | -0.05% | 0.87% | 0.16% | 3.12% |
Benchmark Metrics
Baird Municipal Bond Fund has an annualized alpha of 2.58%, beta of 0.04, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since November 15, 2019.
- This fund participated in 22.91% of S&P 500 Index downside but only 16.90% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.04 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
- 2.58%
- Beta
- 0.04
- R²
- 0.03
- Upside Capture
- 16.90%
- Downside Capture
- 22.91%
Expense Ratio
BMQSX has an expense ratio of 0.55%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BMQSX ranks 73 for risk / return — better than 73% 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 Baird Municipal Bond Fund (BMQSX) 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.
| BMQSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.77 | 1.37 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.78 | -0.39 |
| Martin ratioReturn relative to average drawdown | 8.53 | 12.44 | -3.91 |
Dividends
Dividend History
Baird Municipal Bond Fund provided a 3.19% 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 | $0.32 | $0.34 | $0.32 | $0.22 | $0.25 | $0.40 | $0.02 |
Dividend yield | 3.19% | 3.18% | 3.47% | 3.22% | 2.31% | 2.33% | 3.74% | 0.16% |
Monthly Dividends
The table displays the monthly dividend distributions for Baird Municipal 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 | $0.03 | $0.00 | $0.03 | $0.03 | $0.00 | $0.12 | ||||||
| 2025 | $0.00 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2024 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2023 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2022 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.22 |
| 2021 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 | $0.25 |
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 Baird Municipal 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 Baird Municipal Bond Fund was 12.76%, occurring on Oct 25, 2022. Recovery took 440 trading sessions.
The current Baird Municipal Bond Fund drawdown is 0.40%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -12.76%Oct 2022 | 10mo 1d | 1y 9mo | 2y 7moDec 2021 - Jul 2024 |
COVID crash2020 | -10.39%Mar 2020 | 10d | 2mo 22d | 3mo 2dMar 2020 - Jun 2020 |
2025 selloff2025 | -4.70%Apr 2025 | 4mo 1d | 5mo 2d | 9mo 3dDec 2024 - Sep 2025 |
2026 pullback2026 | -2.76%Mar 2026 | 25d | — | 3mo 23dMar 2026 - now |
2024 pullback2024 | -2.27%Nov 2024 | 1mo 5d | 26d | 2mo 1dOct 2024 - Dec 2024 |
Drawdown Indicators
| BMQSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.76% | -56.78% | +44.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -9.10% | +6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -5.08% | -18.90% | +13.82% |
Max Drawdown (5Y)Largest decline over 5 years | -12.76% | -25.43% | +12.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.40% | -1.80% | +1.40% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -10.71% | +8.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 2.03% | -1.26% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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