Baird Short-Term Municipal Bond Fund (BTMSX)
The fund normally invests at least 80% of its net assets in municipal bonds and debentures, the income from which is exempt from federal income tax (including the federal alternative minimum tax ("AMT")). It invests in a broadly diversified portfolio of federally tax-exempt municipal obligations issued by governmental authorities throughout the U.S. and its territories. The fund may invest in all types of municipal obligations, including pre-refunded bonds, general obligation bonds, revenue bonds, and municipal lease participations.
Fund Info
US0570716235
057071623
Aug 30, 2015
$2,500
Expense Ratio
BTMSX has an expense ratio of 0.55%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Baird Short-Term Municipal Bond Fund (BTMSX) returned 1.38% year-to-date (YTD) and 4.54% over the past 12 months.
BTMSX
1.38%
0.76%
1.22%
4.54%
2.70%
1.29%
N/A
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
Monthly Returns
The table below presents the monthly returns of BTMSX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.53% | 0.59% | -0.24% | -0.06% | 0.55% | 1.38% | |||||||
| 2024 | 0.00% | 0.14% | 0.06% | -0.27% | 0.05% | 0.85% | 0.86% | 0.94% | 0.55% | -0.54% | 0.67% | -0.36% | 2.99% |
| 2023 | 1.47% | -1.32% | 1.22% | -0.21% | -0.51% | 0.61% | 0.22% | -0.20% | -1.01% | -0.06% | 2.52% | 1.17% | 3.90% |
| 2022 | -1.49% | -0.31% | -1.60% | -1.32% | 0.91% | -0.51% | 1.22% | -1.17% | -1.79% | -0.13% | 2.00% | 0.19% | -4.01% |
| 2021 | 0.36% | -0.46% | 0.17% | 0.27% | 0.18% | 0.08% | 0.27% | -0.04% | -0.33% | -0.22% | 0.25% | 0.08% | 0.61% |
| 2020 | 0.78% | 0.40% | -1.61% | -0.18% | 1.71% | 0.41% | 0.69% | 0.01% | 0.12% | -0.10% | 0.48% | 0.17% | 2.88% |
| 2019 | 0.62% | 0.24% | 0.54% | 0.08% | 0.65% | 0.45% | 0.54% | 0.52% | -0.56% | 0.31% | 0.12% | 0.26% | 3.82% |
| 2018 | -0.10% | 0.04% | 0.03% | -0.25% | 0.64% | 0.14% | 0.24% | 0.16% | -0.34% | -0.06% | 0.44% | 0.59% | 1.54% |
| 2017 | 0.48% | 0.52% | 0.06% | 0.32% | 0.62% | -0.09% | 0.43% | 0.43% | -0.28% | 0.24% | -0.47% | 0.18% | 2.45% |
| 2016 | 0.66% | 0.20% | -0.12% | 0.30% | -0.01% | 0.52% | 0.21% | 0.00% | -0.13% | -0.20% | -1.28% | 0.26% | 0.40% |
| 2015 | 0.34% | 0.34% | 0.00% | 0.18% | 0.86% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 93, BTMSX is among the top 7% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Baird Short-Term Municipal Bond Fund (BTMSX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Baird Short-Term Municipal Bond Fund provided a 3.03% dividend yield over the last twelve months, with an annual payout of $0.30 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.30 | $0.29 | $0.25 | $0.13 | $0.09 | $0.13 | $0.17 | $0.17 | $0.14 | $0.12 | $0.05 |
Dividend yield | 3.03% | 2.94% | 2.48% | 1.35% | 0.90% | 1.28% | 1.67% | 1.72% | 1.42% | 1.21% | 0.46% |
Monthly Dividends
The table displays the monthly dividend distributions for Baird Short-Term 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.13 | |||||||
| 2024 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.29 |
| 2023 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.25 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.13 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.17 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.01 | $0.02 | $0.17 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.14 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.12 |
| 2015 | $0.00 | $0.01 | $0.01 | $0.02 | $0.05 |
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 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 Short-Term Municipal Bond Fund was 6.51%, occurring on Oct 25, 2022. Recovery took 410 trading sessions.
The current Baird Short-Term Municipal Bond Fund drawdown is 0.11%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -6.51% | Aug 6, 2021 | 308 | Oct 25, 2022 | 410 | Jun 13, 2024 | 718 |
| -6.26% | Mar 10, 2020 | 9 | Mar 20, 2020 | 73 | Jul 6, 2020 | 82 |
| -1.89% | Apr 7, 2025 | 3 | Apr 9, 2025 | — | — | — |
| -1.8% | Aug 31, 2016 | 65 | Dec 1, 2016 | 93 | Apr 18, 2017 | 158 |
| -0.94% | Aug 21, 2019 | 19 | Sep 17, 2019 | 71 | Dec 27, 2019 | 90 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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