BAGSX vs. BMQSX

Last updated Apr 2, 2026

Compare and contrast key facts about Baird Aggregate Bond Fund (BAGSX) and Baird Municipal Bond Fund (BMQSX).

BAGSX is managed by Baird. It was launched on Sep 29, 2000. BMQSX is managed by Baird. It was launched on Nov 14, 2019.

Performance

BAGSX vs. BMQSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Aggregate Bond Fund (BAGSX) and Baird Municipal Bond Fund (BMQSX). The values are adjusted to include any dividend payments, if applicable.

BAGSX vs. BMQSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BAGSX Baird Aggregate Bond Fund	-0.11%	7.11%	1.63%	6.12%	-13.52%	-1.74%	8.42%	0.37%
BMQSX Baird Municipal Bond Fund	-0.34%	4.44%	2.68%	6.67%	-7.78%	3.12%	9.58%	1.16%

Returns By Period

In the year-to-date period, BAGSX achieves a -0.11% return, which is significantly higher than BMQSX's -0.34% return.

BAGSX

• 1D: 0.20%
• 1M: -1.41%
• YTD: -0.11%
• 6M: 0.70%
• 1Y: 3.91%
• 3Y*: 3.86%
• 5Y*: 0.23%
• 10Y*: 1.83%

BMQSX

• 1D: 0.30%
• 1M: -1.97%
• YTD: -0.34%
• 6M: 1.26%
• 1Y: 3.96%
• 3Y*: 3.58%
• 5Y*: 1.56%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BAGSX vs. BMQSX - Expense Ratio Comparison

Both BAGSX and BMQSX have an expense ratio of 0.55%.

BAGSX

Baird Aggregate Bond Fund

BMQSX

Baird Municipal Bond Fund

Return for Risk

BAGSX vs. BMQSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAGSX

BAGSX Risk / Return Rank: 48
BAGSX Sharpe Ratio Rank: 48
BAGSX Sortino Ratio Rank: 46
BAGSX Omega Ratio Rank: 35
BAGSX Calmar Ratio Rank: 68
BAGSX Martin Ratio Rank: 45

BMQSX

BMQSX Risk / Return Rank: 50
BMQSX Sharpe Ratio Rank: 57
BMQSX Sortino Ratio Rank: 47
BMQSX Omega Ratio Rank: 78
BMQSX Calmar Ratio Rank: 38
BMQSX Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAGSX vs. BMQSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Aggregate Bond Fund (BAGSX) and Baird Municipal Bond Fund (BMQSX). 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.

	BAGSX	BMQSX	Difference
Sharpe ratio Return per unit of total volatility	0.99	1.12	-0.12
Sortino ratio Return per unit of downside risk	1.42	1.45	-0.04
Omega ratio Gain probability vs. loss probability	1.18	1.31	-0.14
Calmar ratio Return relative to maximum drawdown	1.67	1.14	+0.53
Martin ratio Return relative to average drawdown	4.78	3.98	+0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAGSX vs. BMQSX - Sharpe Ratio Comparison

The current BAGSX Sharpe Ratio is 0.99, which is comparable to the BMQSX Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of BAGSX and BMQSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BAGSX	BMQSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	1.12	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.44	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.65	+0.27

Correlation

The correlation between BAGSX and BMQSX is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BAGSX vs. BMQSX - Dividend Comparison

BAGSX's dividend yield for the trailing twelve months is around 3.75%, more than BMQSX's 3.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAGSX Baird Aggregate Bond Fund	3.75%	3.69%	3.62%	3.10%	2.33%	1.68%	3.02%	2.41%	2.53%	2.21%	1.96%	2.14%
BMQSX Baird Municipal Bond Fund	3.16%	3.18%	3.47%	3.22%	2.31%	2.33%	3.74%	0.16%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BAGSX vs. BMQSX - Drawdown Comparison

The maximum BAGSX drawdown since its inception was -18.97%, which is greater than BMQSX's maximum drawdown of -12.76%. Use the drawdown chart below to compare losses from any high point for BAGSX and BMQSX.

Drawdown Indicators

	BAGSX	BMQSX	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-12.76%	-6.21%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-4.02%	+1.38%
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	-12.76%	-6.08%
Max Drawdown (10Y) Largest decline over 10 years	-18.97%	—	—
Current Drawdown Current decline from peak	-1.95%	-2.26%	+0.31%
Average Drawdown Average peak-to-trough decline	-2.53%	-2.63%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	1.15%	-0.23%

Volatility

BAGSX vs. BMQSX - Volatility Comparison

Baird Aggregate Bond Fund (BAGSX) has a higher volatility of 1.61% compared to Baird Municipal Bond Fund (BMQSX) at 1.13%. This indicates that BAGSX's price experiences larger fluctuations and is considered to be riskier than BMQSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAGSX	BMQSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	1.13%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	1.50%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	3.95%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.91%	3.55%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.89%	4.50%	+0.39%