BMQSX vs. BAGIX
BMQSX (Baird Municipal Bond Fund) and BAGIX (Baird Aggregate Bond Fund Institutional Class) are both mutual funds - BMQSX is a Municipal Bonds fund managed by Baird, while BAGIX is a Intermediate Core Bond fund actively managed by Baird. Over the past 5 years, BMQSX returned 1.13%/yr vs -0.13%/yr for BAGIX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. BMQSX charges 0.55%/yr vs 0.30%/yr for BAGIX.
Performance
BMQSX vs. BAGIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BMQSX achieves a 0.16% return, which is significantly higher than BAGIX's -0.31% return.
BMQSX
- 1D
- -0.20%
- 1M
- -1.47%
- 6M
- -0.50%
- YTD
- 0.16%
- 1Y
- 4.67%
- 3Y*
- 3.55%
- 5Y*
- 1.13%
- 10Y*
- —
- ALL TIME*
- 2.86%
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 |
BMQSX vs. BAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BMQSX Baird Municipal Bond Fund | 0.16% | 4.44% | 2.68% | 6.67% | -7.78% | 3.12% | 9.58% | 1.16% |
BAGIX Baird Aggregate Bond Fund Institutional Class | -0.31% | 7.37% | 1.85% | 6.42% | -13.35% | -1.46% | 8.63% | 0.43% |
Correlation
The correlation between BMQSX and BAGIX is 0.56, 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. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.53 |
The correlation between BMQSX and BAGIX has been stable across timeframes, ranging from 0.53 to 0.63 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BMQSX vs. BAGIX — Risk / Return Rank
BMQSX
BAGIX
BMQSX vs. BAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Municipal Bond Fund (BMQSX) and Baird Aggregate Bond Fund Institutional Class (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.
| BMQSX | BAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.14 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.11 | +0.74 |
| Martin ratioReturn relative to average drawdown | 6.17 | 2.78 | +3.40 |
Loading charts...
Drawdowns
BMQSX vs. BAGIX - Drawdown Comparison
The maximum BMQSX drawdown since its inception was -12.76%, smaller than the maximum BAGIX drawdown of -18.62%. Use the drawdown chart below to compare losses from any high point for BMQSX and BAGIX.
Loading charts...
Drawdown Indicators
| BMQSX | BAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.76% | -18.62% | +5.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.72% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -5.06% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -12.76% | -18.60% | +5.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.62% | — |
Current DrawdownCurrent decline from peak | -1.77% | -2.08% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -2.35% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 1.09% | -0.26% |
Volatility
BMQSX vs. BAGIX - Volatility Comparison
The current volatility for Baird Municipal Bond Fund (BMQSX) is 0.86%, while Baird Aggregate Bond Fund Institutional Class (BAGIX) has a volatility of 0.98%. This indicates that BMQSX 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.
Loading charts...
Volatility by Period
| BMQSX | BAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.98% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 2.82% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.33% | 3.70% | -1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.59% | 5.93% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 4.89% | -0.47% |
BMQSX vs. BAGIX - Expense Ratio Comparison
BMQSX has a 0.55% expense ratio, which is higher than BAGIX's 0.30% expense ratio.
Dividends
BMQSX vs. BAGIX - Dividend Comparison
BMQSX's dividend yield for the trailing twelve months is around 2.96%, 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 Institutional Class | 4.31% | 4.12% | 4.03% | 3.47% | 2.70% | 2.00% | 3.39% | 2.75% | 2.87% | 2.54% | 2.25% | 2.46% |
BMQSX Baird Municipal Bond Fund | 2.96% | 3.18% | 3.47% | 3.22% | 2.31% | 2.33% | 3.74% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BMQSX and BAGIX have a correlation of 0.56, 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 BMQSX (0.86%). In terms of maximum drawdown, BMQSX dropped -12.76% vs BAGIX's -18.62%.
BMQSX currently has the higher Sharpe Ratio (2.19 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.
Find the right allocation for BMQSX and BAGIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer