BMQSX vs. BAGSX

Last updated Apr 2, 2026

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

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

Performance

BMQSX vs. BAGSX - Performance Comparison

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

BMQSX vs. BAGSX - Yearly Performance Comparison

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

Returns By Period

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

BMQSX

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

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%

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

BMQSX vs. BAGSX - Expense Ratio Comparison

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

BMQSX

Baird Municipal Bond Fund

BAGSX

Baird Aggregate Bond Fund

Return for Risk

BMQSX vs. BAGSX — Risk / Return Rank

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

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

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

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.

BMQSX vs. BAGSX - 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 (BAGSX). 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.

	BMQSX	BAGSX	Difference
Sharpe ratio Return per unit of total volatility	1.12	0.99	+0.12
Sortino ratio Return per unit of downside risk	1.45	1.42	+0.04
Omega ratio Gain probability vs. loss probability	1.31	1.18	+0.14
Calmar ratio Return relative to maximum drawdown	1.14	1.67	-0.53
Martin ratio Return relative to average drawdown	3.98	4.78	-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.

BMQSX vs. BAGSX - Sharpe Ratio Comparison

The current BMQSX Sharpe Ratio is 1.12, which is comparable to the BAGSX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of BMQSX and BAGSX, 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

	BMQSX	BAGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	0.99	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.04	+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	0.65	0.92	-0.27

Correlation

The correlation between BMQSX and BAGSX 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

BMQSX vs. BAGSX - Dividend Comparison

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

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
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%

Drawdowns

BMQSX vs. BAGSX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

BMQSX vs. BAGSX - Volatility Comparison

The current volatility for Baird Municipal Bond Fund (BMQSX) is 1.13%, while Baird Aggregate Bond Fund (BAGSX) has a volatility of 1.61%. This indicates that BMQSX experiences smaller price fluctuations and is considered to be less risky than BAGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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