BCOSX vs. BSNIX
BCOSX (Baird Core Plus Bond Fund) and BSNIX (Baird Strategic Municipal Bond Fund Institutional Class) are both mutual funds - BCOSX is a Intermediate Core-Plus Bond fund managed by Baird, while BSNIX is a Municipal Bonds fund managed by Baird. Over the past 5 years, BCOSX returned 0.42%/yr vs 2.21%/yr for BSNIX. A 0.53 correlation means they provide meaningful diversification when combined. BCOSX charges 0.55%/yr vs 0.30%/yr for BSNIX.
Performance
BCOSX vs. BSNIX - Performance Comparison
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Returns By Period
In the year-to-date period, BCOSX achieves a 0.32% return, which is significantly lower than BSNIX's 1.36% return.
BCOSX
- 1D
- -0.28%
- 1M
- 0.71%
- YTD
- 0.32%
- 6M
- 0.60%
- 1Y
- 4.31%
- 3Y*
- 4.52%
- 5Y*
- 0.42%
- 10Y*
- 2.07%
BSNIX
- 1D
- 0.00%
- 1M
- 1.00%
- YTD
- 1.36%
- 6M
- 1.59%
- 1Y
- 5.47%
- 3Y*
- 4.41%
- 5Y*
- 2.21%
- 10Y*
- —
BCOSX vs. BSNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BCOSX Baird Core Plus Bond Fund | 0.32% | 7.22% | 2.26% | 6.60% | -13.09% | -1.23% | 8.59% | 0.40% |
BSNIX Baird Strategic Municipal Bond Fund Institutional Class | 1.36% | 4.90% | 3.17% | 6.78% | -5.31% | 2.26% | 8.39% | 0.88% |
Correlation
The correlation between BCOSX and BSNIX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.53 |
The correlation between BCOSX and BSNIX has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.
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Return for Risk
BCOSX vs. BSNIX — Risk / Return Rank
BCOSX
BSNIX
BCOSX vs. BSNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Core Plus Bond Fund (BCOSX) and Baird Strategic Municipal Bond Fund Institutional Class (BSNIX). 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.
| BCOSX | BSNIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.95 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 2.67 | -0.92 |
| Martin ratioReturn relative to average drawdown | 4.87 | 9.71 | -4.83 |
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Drawdowns
BCOSX vs. BSNIX - Drawdown Comparison
The maximum BCOSX drawdown since its inception was -18.39%, which is greater than BSNIX's maximum drawdown of -9.58%. Use the drawdown chart below to compare losses from any high point for BCOSX and BSNIX.
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Drawdown Indicators
| BCOSX | BSNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.39% | -9.58% | -8.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | -2.09% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.80% | -3.41% | -2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -18.39% | -9.58% | -8.81% |
Max Drawdown (10Y)Largest decline over 10 years | -18.39% | — | — |
Current DrawdownCurrent decline from peak | -1.33% | -0.35% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -1.49% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.57% | +0.36% |
Volatility
BCOSX vs. BSNIX - Volatility Comparison
Baird Core Plus Bond Fund (BCOSX) has a higher volatility of 1.10% compared to Baird Strategic Municipal Bond Fund Institutional Class (BSNIX) at 0.42%. This indicates that BCOSX's price experiences larger fluctuations and is considered to be riskier than BSNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCOSX | BSNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.42% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 1.30% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 1.63% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 2.68% | +2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.66% | 3.35% | +1.31% |
BCOSX vs. BSNIX - Expense Ratio Comparison
BCOSX has a 0.55% expense ratio, which is higher than BSNIX's 0.30% expense ratio.
Dividends
BCOSX vs. BSNIX - Dividend Comparison
BCOSX's dividend yield for the trailing twelve months is around 3.87%, more than BSNIX's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCOSX Baird Core Plus Bond Fund | 3.87% | 3.75% | 3.68% | 3.17% | 2.69% | 2.57% | 3.11% | 2.60% | 2.75% | 2.47% | 2.27% | 2.49% |
BSNIX Baird Strategic Municipal Bond Fund Institutional Class | 3.27% | 3.29% | 3.51% | 3.22% | 2.09% | 1.58% | 2.23% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BCOSX and BSNIX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCOSX has higher volatility (1.10%) compared to BSNIX (0.42%). In terms of maximum drawdown, BCOSX dropped -18.39% vs BSNIX's -9.58%.
BSNIX currently has the higher Sharpe Ratio (3.43 vs 1.27), 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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