BAGIX vs. BMNSX
BAGIX (Baird Aggregate Bond Fund Institutional Class) and BMNSX (Baird Core Intermediate Municipal Bond Fund) are both mutual funds - BAGIX is a Intermediate Core Bond fund actively managed by Baird, while BMNSX is a Municipal Bonds fund managed by Baird. Over the past 10 years, BAGIX returned 1.72%/yr vs 2.08%/yr for BMNSX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. BAGIX charges 0.30%/yr vs 0.55%/yr for BMNSX.
Performance
BAGIX vs. BMNSX - Performance Comparison
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Returns By Period
In the year-to-date period, BAGIX achieves a -0.31% return, which is significantly lower than BMNSX's 0.54% return. Over the past 10 years, BAGIX has underperformed BMNSX with an annualized return of 1.72%, while BMNSX has yielded a comparatively higher 2.08% annualized return.
BAGIX
- 1D
- 0.00%
- 1M
- -0.86%
- 6M
- -0.50%
- YTD
- -0.31%
- 1Y
- 2.19%
- 3Y*
- 4.25%
- 5Y*
- -0.13%
- 10Y*
- 1.72%
- ALL TIME*
- 4.13%
BMNSX
- 1D
- -0.10%
- 1M
- -1.15%
- 6M
- -0.18%
- YTD
- 0.54%
- 1Y
- 3.93%
- 3Y*
- 3.50%
- 5Y*
- 1.14%
- 10Y*
- 2.08%
- ALL TIME*
- 2.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BAGIX vs. BMNSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Institutional Class | -0.31% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
BMNSX Baird Core Intermediate Municipal Bond Fund | 0.54% | 4.63% | 2.26% | 5.28% | -6.40% | 1.44% | 5.02% | 6.40% | 1.05% | 5.00% |
Correlation
The correlation between BAGIX and BMNSX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2015 | 0.51 |
The correlation between BAGIX and BMNSX has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.
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Return for Risk
BAGIX vs. BMNSX — Risk / Return Rank
BAGIX
BMNSX
BAGIX vs. BMNSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund Institutional Class (BAGIX) and Baird Core Intermediate Municipal Bond Fund (BMNSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| BAGIX | BMNSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.61 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 2.08 | -0.97 |
| Martin ratioReturn relative to average drawdown | 2.78 | 6.81 | -4.03 |
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Drawdowns
BAGIX vs. BMNSX - Drawdown Comparison
The maximum BAGIX drawdown since its inception was -18.62%, which is greater than BMNSX's maximum drawdown of -10.24%. Use the drawdown chart below to compare losses from any high point for BAGIX and BMNSX.
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Drawdown Indicators
| BAGIX | BMNSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.62% | -10.24% | -8.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.09% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -5.06% | -3.21% | -1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -10.24% | -8.36% |
Max Drawdown (10Y)Largest decline over 10 years | -18.62% | -10.24% | -8.38% |
Current DrawdownCurrent decline from peak | -2.08% | -1.20% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -1.64% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.64% | +0.45% |
Volatility
BAGIX vs. BMNSX - Volatility Comparison
Baird Aggregate Bond Fund Institutional Class (BAGIX) has a higher volatility of 0.98% compared to Baird Core Intermediate Municipal Bond Fund (BMNSX) at 0.67%. This indicates that BAGIX's price experiences larger fluctuations and is considered to be riskier than BMNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGIX | BMNSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.67% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 1.48% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 1.79% | +1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 2.70% | +3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 3.01% | +1.88% |
BAGIX vs. BMNSX - Expense Ratio Comparison
BAGIX has a 0.30% expense ratio, which is lower than BMNSX's 0.55% expense ratio.
Dividends
BAGIX vs. BMNSX - Dividend Comparison
BAGIX's dividend yield for the trailing twelve months is around 4.31%, more than BMNSX's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Institutional Class | 4.31% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
BMNSX Baird Core Intermediate Municipal Bond Fund | 3.30% | 3.22% | 3.12% | 2.74% | 1.67% | 1.34% | 1.99% | 2.15% | 2.01% | 1.71% | 1.39% | 0.59% |
Frequently Asked Questions
BAGIX and BMNSX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAGIX has higher volatility (0.98%) compared to BMNSX (0.67%). In terms of maximum drawdown, BAGIX dropped -18.62% vs BMNSX's -10.24%.
BMNSX currently has the higher Sharpe Ratio (2.44 vs 0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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