BMNSX vs. EFA
BMNSX (Baird Core Intermediate Municipal Bond Fund) and EFA (iShares MSCI EAFE ETF) are both funds - BMNSX is a Municipal Bonds fund managed by Baird, while EFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net). Over the past 10 years, BMNSX returned 2.27%/yr vs 9.11%/yr for EFA. At a 0.02 correlation, their price movements are largely independent. BMNSX charges 0.55%/yr vs 0.32%/yr for EFA.
Performance
BMNSX vs. EFA - Performance Comparison
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Returns By Period
In the year-to-date period, BMNSX achieves a 1.26% return, which is significantly lower than EFA's 8.42% return. Over the past 10 years, BMNSX has underperformed EFA with an annualized return of 2.27%, while EFA has yielded a comparatively higher 9.11% annualized return.
BMNSX
- 1D
- 0.10%
- 1M
- 0.49%
- YTD
- 1.26%
- 6M
- 1.65%
- 1Y
- 5.87%
- 3Y*
- 3.97%
- 5Y*
- 1.46%
- 10Y*
- 2.27%
EFA
- 1D
- -0.86%
- 1M
- 3.40%
- YTD
- 8.42%
- 6M
- 10.94%
- 1Y
- 21.06%
- 3Y*
- 16.44%
- 5Y*
- 8.29%
- 10Y*
- 9.11%
BMNSX vs. EFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BMNSX Baird Core Intermediate Municipal Bond Fund | 1.26% | 4.63% | 2.26% | 5.28% | -6.40% | 1.44% | 5.02% | 6.40% | 1.05% | 5.00% |
EFA iShares MSCI EAFE ETF | 8.42% | 31.55% | 3.49% | 18.36% | -14.39% | 11.45% | 7.60% | 22.04% | -13.82% | 25.07% |
Correlation
The correlation between BMNSX and EFA is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2015 | 0.02 |
Over the past year, BMNSX and EFA have become more correlated (0.25) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
BMNSX vs. EFA — Risk / Return Rank
BMNSX
EFA
BMNSX vs. EFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Core Intermediate Municipal Bond Fund (BMNSX) and iShares MSCI EAFE ETF (EFA). 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.
| BMNSX | EFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +3.32 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.26 | +0.70 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.85 | +0.96 |
| Martin ratioReturn relative to average drawdown | 9.89 | 6.94 | +2.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BMNSX | EFA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.52 | 1.41 | +2.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.51 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | 0.53 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.31 | +0.56 |
Drawdowns
BMNSX vs. EFA - Drawdown Comparison
The maximum BMNSX drawdown since its inception was -10.24%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for BMNSX and EFA.
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Drawdown Indicators
| BMNSX | EFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.24% | -61.04% | +50.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -11.42% | +9.33% |
Max Drawdown (3Y)Largest decline over 3 years | -3.67% | -14.05% | +10.38% |
Max Drawdown (5Y)Largest decline over 5 years | -10.24% | -29.53% | +19.29% |
Max Drawdown (10Y)Largest decline over 10 years | -10.24% | -34.19% | +23.95% |
Current DrawdownCurrent decline from peak | -0.50% | -1.46% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -11.93% | +10.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 3.04% | -2.45% |
Volatility
BMNSX vs. EFA - Volatility Comparison
The current volatility for Baird Core Intermediate Municipal Bond Fund (BMNSX) is 0.63%, while iShares MSCI EAFE ETF (EFA) has a volatility of 4.98%. This indicates that BMNSX experiences smaller price fluctuations and is considered to be less risky than EFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMNSX | EFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 4.98% | -4.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.34% | 12.51% | -11.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.68% | 15.05% | -13.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.69% | 16.48% | -13.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.01% | 17.26% | -14.25% |
BMNSX vs. EFA - Expense Ratio Comparison
BMNSX has a 0.55% expense ratio, which is higher than EFA's 0.32% expense ratio.
Dividends
BMNSX vs. EFA - Dividend Comparison
BMNSX's dividend yield for the trailing twelve months is around 3.25%, more than EFA's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMNSX Baird Core Intermediate Municipal Bond Fund | 3.25% | 3.22% | 3.12% | 2.74% | 1.67% | 1.34% | 1.99% | 2.15% | 2.01% | 1.71% | 1.39% | 0.59% |
EFA iShares MSCI EAFE ETF | 3.12% | 3.38% | 3.24% | 2.98% | 2.69% | 3.33% | 2.13% | 3.10% | 3.39% | 2.57% | 3.07% | 2.76% |
Frequently Asked Questions
BMNSX and EFA have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFA has higher volatility (4.98%) compared to BMNSX (0.63%). In terms of maximum drawdown, BMNSX dropped -10.24% vs EFA's -61.04%.
BMNSX currently has the higher Sharpe Ratio (3.52 vs 1.41), 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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