BMNSX vs. BAGIX
BMNSX (Baird Core Intermediate Municipal Bond Fund) and BAGIX (Baird Aggregate Bond Fund Class I) are both mutual funds - BMNSX is a Municipal Bonds fund managed by Baird, while BAGIX is a Total Bond Market fund managed by Baird. Over the past 10 years, BMNSX returned 2.08%/yr vs 1.72%/yr for BAGIX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. BMNSX charges 0.55%/yr vs 0.30%/yr for BAGIX.
Performance
BMNSX vs. BAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, BMNSX achieves a 0.54% return, which is significantly higher than BAGIX's -0.31% return. Over the past 10 years, BMNSX has outperformed BAGIX with an annualized return of 2.08%, while BAGIX has yielded a comparatively lower 1.72% annualized return.
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%
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%
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 |
BMNSX vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
BAGIX Baird Aggregate Bond Fund Class I | -0.31% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 9.48% | -0.31% | 4.20% |
Correlation
The correlation between BMNSX and BAGIX 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 BMNSX and BAGIX has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.
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Return for Risk
BMNSX vs. BAGIX — Risk / Return Rank
BMNSX
BAGIX
BMNSX vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Core Intermediate Municipal Bond Fund (BMNSX) and Baird Aggregate Bond Fund Class I (BAGIX). 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.
| BMNSX | BAGIX | 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 | 1.61 | 1.14 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.11 | +0.97 |
| Martin ratioReturn relative to average drawdown | 6.81 | 2.78 | +4.03 |
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Drawdowns
BMNSX vs. BAGIX - Drawdown Comparison
The maximum BMNSX drawdown since its inception was -10.24%, smaller than the maximum BAGIX drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for BMNSX and BAGIX.
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Drawdown Indicators
| BMNSX | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.24% | -18.62% | +8.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -2.72% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -3.21% | -5.06% | +1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -18.60% | +8.36% |
Max Drawdown (10Y)Largest decline over 10 years | -10.24% | -18.62% | +8.38% |
Current DrawdownCurrent decline from peak | -1.20% | -2.08% | +0.88% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -2.35% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 1.09% | -0.45% |
Volatility
BMNSX vs. BAGIX - Volatility Comparison
The current volatility for Baird Core Intermediate Municipal Bond Fund (BMNSX) is 0.67%, while Baird Aggregate Bond Fund Class I (BAGIX) has a volatility of 0.98%. This indicates that BMNSX experiences smaller price fluctuations and is considered to be less risky than BAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMNSX | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.98% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 2.82% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.79% | 3.70% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.70% | 5.93% | -3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.01% | 4.89% | -1.88% |
BMNSX vs. BAGIX - Expense Ratio Comparison
BMNSX has a 0.55% expense ratio, which is higher than BAGIX's 0.30% expense ratio.
Dividends
BMNSX vs. BAGIX - Dividend Comparison
BMNSX's dividend yield for the trailing twelve months is around 3.30%, less than BAGIX's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAGIX Baird Aggregate Bond Fund Class I | 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
BMNSX and BAGIX 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, BMNSX dropped -10.24% vs BAGIX's -18.62%.
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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