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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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Baird Short-Term Municipal Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Baird Short-Term Municipal Bond Fund (BTMSX) returned 0.68% year-to-date (YTD) and 3.24% over the past 12 months.
BTMSX
0.68%
0.51%
1.10%
3.24%
1.38%
N/A
^GSPC (Benchmark)
-3.70%
13.67%
-5.18%
9.18%
14.14%
10.43%
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% | -0.30% | 0.10% | 0.68% | |||||||
| 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 | 1.46% | -1.31% | 1.22% | -0.21% | -0.51% | 0.61% | 0.22% | -0.20% | -1.01% | -0.06% | 2.52% | 1.16% | 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% | 0.07% | 0.60% |
| 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% | 0.53% | 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% | 0.15% | 2.42% |
| 2016 | 0.66% | 0.20% | -0.12% | 0.30% | -0.01% | 0.52% | 0.21% | -0.00% | -0.13% | -0.20% | -1.28% | 0.22% | 0.36% |
| 2015 | 0.34% | 0.34% | -0.00% | 0.09% | 0.77% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 91, BTMSX is among the top 9% 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.
Dividends
Dividend History
Baird Short-Term Municipal Bond Fund provided a 3.02% 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 | $0.14 | $0.09 | $0.17 | $0.14 | $0.12 | $0.05 |
Dividend yield | 3.02% | 2.94% | 2.48% | 1.36% | 0.88% | 1.30% | 0.88% | 1.70% | 1.43% | 1.17% | 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 | $0.00 | $0.10 | |||||||
| 2024 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $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 | $0.14 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 |
| 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 | $0.01 | $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.
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 6.52%, occurring on Oct 25, 2022. Recovery took 410 trading sessions.
The current Baird Short-Term Municipal Bond Fund drawdown is 0.80%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -6.52% | 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 | 111 | May 12, 2017 | 176 |
| -0.94% | Aug 21, 2019 | 19 | Sep 17, 2019 | 71 | Dec 27, 2019 | 90 |
Volatility
Volatility Chart
The current Baird Short-Term Municipal Bond Fund volatility is 1.23%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.