- Issuer
- Baird
- Inception Date
- Sep 19, 2012
- Category
- Short-Term Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg 1-3 Year U.S. Government/Credit Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
BSBSX Performance Chart
Baird Short-Term Bond Fund Investor Class (BSBSX) is up 1.1% since the beginning of the year. BSBSX is currently trading at $9 per share. Investors who bought $1,000 worth of BSBSX shares 5 years ago would now be looking at an investment worth $1,121.
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Returns By Period
Baird Short-Term Bond Fund Investor Class (BSBSX) has returned 1.07% so far this year and 2.92% over the past 12 months. Over the last ten years, BSBSX has returned 2.23% per year, falling short of the S&P 500 Index benchmark, which averaged 13.49% annually.
Baird Short-Term Bond Fund Investor Class
- 1D
- 0.11%
- 1M
- 0.23%
- 6M
- 0.78%
- YTD
- 1.07%
- 1Y
- 2.92%
- 3Y*
- 4.76%
- 5Y*
- 2.31%
- 10Y*
- 2.23%
- ALL TIME*
- 2.03%
Benchmark (S&P 500 Index)
- 1D
- 1.79%
- 1M
- 3.38%
- 6M
- 11.83%
- YTD
- 13.02%
- 1Y
- 22.22%
- 3Y*
- 19.99%
- 5Y*
- 11.80%
- 10Y*
- 13.49%
- ALL TIME*
- 8.15%
BSBSX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2013, BSBSX's average daily return is +0.01%, while the average monthly return is +0.17%. At this rate, an investment would double in approximately 34.0 years.
Historically, 68% of months were positive and 32% were negative. The best month was Apr 2020 with a return of +1.7%, while the worst month was Mar 2020 at -1.8%. The longest winning streak lasted 16 consecutive months, and the longest losing streak was 9 months.
On a daily basis, BSBSX closed higher 28% of trading days. The best single day was Mar 13, 2023 with a return of +0.7%, while the worst single day was Mar 18, 2020 at -0.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.28% | 0.44% | -0.51% | 0.29% | 0.23% | 0.10% | 0.13% | 0.11% | 1.07% | ||||
| 2025 | 0.53% | 0.67% | 0.36% | 0.65% | 0.02% | 0.66% | 0.05% | 0.87% | 0.42% | 0.22% | 0.54% | 0.30% | 5.41% |
| 2024 | 0.47% | -0.31% | 0.45% | -0.21% | 0.76% | 0.56% | 1.10% | 0.87% | 0.87% | -0.49% | 0.37% | 0.20% | 4.73% |
| 2023 | 1.04% | -0.62% | 1.01% | 0.47% | -0.18% | -0.28% | 0.60% | 0.38% | -0.05% | 0.19% | 1.40% | 1.31% | 5.39% |
| 2022 | -0.77% | -0.55% | -1.39% | -0.66% | 0.41% | -0.75% | 0.65% | -0.71% | -1.24% | -0.25% | 1.06% | 0.29% | -3.88% |
| 2021 | 0.07% | -0.11% | -0.03% | 0.08% | 0.18% | -0.13% | 0.17% | -0.04% | -0.15% | -0.35% | -0.15% | -0.11% | -0.57% |
Benchmark Metrics
Baird Short-Term Bond Fund Investor Class has an annualized alpha of 2.03%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 02, 2013.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (6.75%) than losses (1.02%) - typical of diversified or defensive assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 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 0.00 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
- 2.03%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 6.75%
- Downside Capture
- 1.02%
Expense Ratio
BSBSX has an expense ratio of 0.55%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BSBSX ranks 91 for risk / return — above 91% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Baird Short-Term Bond Fund Investor Class (BSBSX) 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.
| BSBSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.31 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 2.45 | +1.18 |
| Martin ratioReturn relative to average drawdown | 15.59 | 10.40 | +5.19 |
Dividends
Dividend History
Baird Short-Term Bond Fund Investor Class provided a 3.96% dividend yield over the last twelve months, with an annual payout of $0.37 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.39 | $0.39 | $0.30 | $0.14 | $0.11 | $0.23 | $0.22 | $0.19 | $0.14 | $0.13 | $0.13 |
Dividend yield | 3.96% | 4.10% | 4.08% | 3.16% | 1.54% | 1.17% | 2.37% | 2.24% | 1.96% | 1.49% | 1.35% | 1.37% |
Monthly Dividends
The table displays the monthly dividend distributions for Baird Short-Term Bond Fund Investor Class. 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.21 | ||||
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.39 |
| 2024 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.39 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.03 | $0.14 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 | $0.11 |
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 Short-Term Bond Fund Investor Class. 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 Short-Term Bond Fund Investor Class was 6.29%, occurring on Oct 20, 2022. Recovery took 289 trading sessions.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-6.29%Oct 2022 | 1y 2mo | 1y 1mo | 2y 4moAug 2021 - Dec 2023 | Bear market2022 |
-4.24%Mar 2020 | 15d | 2mo 3d | 2mo 18dMar 2020 - May 2020 | COVID crash2020 |
-0.97%Jul 2013 | 1mo 14d | 3mo 18d | 5mo 2dMay 2013 - Oct 2013 | — |
-0.87%Feb 2018 | 5mo 12d | 6mo | 11mo 12dSep 2017 - Aug 2018 | — |
-0.84%Mar 2026 | 24d | 2mo 4d | 2mo 28dMar 2026 - May 2026 | — |
Drawdown Indicators
| BSBSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.29% | -56.78% | +50.49% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -9.10% | +8.26% |
Max Drawdown (3Y)Largest decline over 3 years | -0.84% | -18.90% | +18.06% |
Max Drawdown (5Y)Largest decline over 5 years | -6.25% | -25.43% | +19.18% |
Max Drawdown (10Y)Largest decline over 10 years | -6.29% | -33.92% | +27.63% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -10.70% | +10.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 2.14% | -1.95% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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