BAGSX vs. BMBSX
BAGSX (Baird Aggregate Bond Fund) and BMBSX (Baird Quality Intermediate Municipal Bond Fund) are both mutual funds - BAGSX is a Intermediate Core Bond fund managed by Baird, while BMBSX is a Municipal Bonds fund managed by Baird. Over the past 10 years, BAGSX returned 1.48%/yr vs 1.39%/yr for BMBSX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.55% expense ratio.
Performance
BAGSX vs. BMBSX - Performance Comparison
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Returns By Period
In the year-to-date period, BAGSX achieves a -0.44% return, which is significantly lower than BMBSX's 0.23% return. Over the past 10 years, BAGSX has outperformed BMBSX with an annualized return of 1.48%, while BMBSX has yielded a comparatively lower 1.39% annualized return.
BAGSX
- 1D
- 0.10%
- 1M
- -0.84%
- 6M
- -0.61%
- YTD
- -0.44%
- 1Y
- 2.04%
- 3Y*
- 3.99%
- 5Y*
- -0.36%
- 10Y*
- 1.48%
- ALL TIME*
- 3.90%
BMBSX
- 1D
- -0.09%
- 1M
- -1.06%
- 6M
- -0.49%
- YTD
- 0.23%
- 1Y
- 3.00%
- 3Y*
- 2.85%
- 5Y*
- 0.60%
- 10Y*
- 1.39%
- ALL TIME*
- 2.95%
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 |
BAGSX vs. BMBSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAGSX Baird Aggregate Bond Fund | -0.44% | 7.11% | 1.63% | 6.12% | -13.52% | -1.74% | 8.42% | 9.17% | -0.55% | 3.90% |
BMBSX Baird Quality Intermediate Municipal Bond Fund | 0.23% | 4.32% | 1.37% | 4.01% | -5.99% | 0.01% | 4.23% | 5.66% | 0.90% | 2.97% |
Correlation
The correlation between BAGSX and BMBSX is 0.53, 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. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2001 | 0.53 |
The correlation between BAGSX and BMBSX shifts across timeframes, from 0.50 (10 years) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BAGSX vs. BMBSX — Risk / Return Rank
BAGSX
BMBSX
BAGSX vs. BMBSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund (BAGSX) and Baird Quality Intermediate Municipal Bond Fund (BMBSX). 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.
| BAGSX | BMBSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.49 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.70 | -0.70 |
| Martin ratioReturn relative to average drawdown | 2.45 | 5.02 | -2.57 |
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Drawdowns
BAGSX vs. BMBSX - Drawdown Comparison
The maximum BAGSX drawdown since its inception was -18.97%, which is greater than BMBSX's maximum drawdown of -9.57%. Use the drawdown chart below to compare losses from any high point for BAGSX and BMBSX.
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Drawdown Indicators
| BAGSX | BMBSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.97% | -9.57% | -9.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -1.98% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -5.11% | -3.02% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | -9.57% | -9.27% |
Max Drawdown (10Y)Largest decline over 10 years | -18.97% | -9.57% | -9.40% |
Current DrawdownCurrent decline from peak | -2.26% | -1.41% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -1.40% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 0.67% | +0.49% |
Volatility
BAGSX vs. BMBSX - Volatility Comparison
Baird Aggregate Bond Fund (BAGSX) has a higher volatility of 0.93% compared to Baird Quality Intermediate Municipal Bond Fund (BMBSX) at 0.64%. This indicates that BAGSX's price experiences larger fluctuations and is considered to be riskier than BMBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAGSX | BMBSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.64% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 1.45% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 1.71% | +1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 2.52% | +3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 2.79% | +2.11% |
BAGSX vs. BMBSX - Expense Ratio Comparison
Both BAGSX and BMBSX have an expense ratio of 0.55%.
Dividends
BAGSX vs. BMBSX - Dividend Comparison
BAGSX's dividend yield for the trailing twelve months is around 3.86%, more than BMBSX's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGSX Baird Aggregate Bond Fund | 3.86% | 3.69% | 3.62% | 3.10% | 2.33% | 1.68% | 3.02% | 2.41% | 2.53% | 2.21% | 1.96% | 2.14% |
BMBSX Baird Quality Intermediate Municipal Bond Fund | 2.81% | 2.71% | 2.52% | 2.21% | 1.70% | 1.49% | 1.67% | 2.28% | 2.08% | 2.00% | 1.97% | 2.12% |
Frequently Asked Questions
BAGSX and BMBSX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAGSX has higher volatility (0.93%) compared to BMBSX (0.64%). In terms of maximum drawdown, BAGSX dropped -18.97% vs BMBSX's -9.57%.
BMBSX currently has the higher Sharpe Ratio (1.98 vs 0.77), 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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