BMQSX vs. BSNSX
BMQSX (Baird Municipal Bond Fund) and BSNSX (Baird Strategic Municipal Bond Fund) are both Municipal Bonds funds from Baird. Over the past 5 years, BMQSX returned 1.11%/yr vs 1.88%/yr for BSNSX. Their correlation of 0.84 means they have usually moved in the same direction. Both charge a 0.55% expense ratio.
Performance
BMQSX vs. BSNSX - Performance Comparison
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Returns By Period
In the year-to-date period, BMQSX achieves a 0.16% return, which is significantly lower than BSNSX's 0.99% return.
BMQSX
- 1D
- 0.10%
- 1M
- -1.47%
- 6M
- -0.60%
- YTD
- 0.16%
- 1Y
- 4.56%
- 3Y*
- 3.91%
- 5Y*
- 1.11%
- 10Y*
- —
- ALL TIME*
- 2.85%
BSNSX
- 1D
- 0.10%
- 1M
- -0.85%
- 6M
- 0.16%
- YTD
- 0.99%
- 1Y
- 4.11%
- 3Y*
- 4.26%
- 5Y*
- 1.88%
- 10Y*
- —
- ALL TIME*
- 3.00%
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. BSNSX - 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% |
BSNSX Baird Strategic Municipal Bond Fund | 0.99% | 4.83% | 2.92% | 6.53% | -5.54% | 2.00% | 8.13% | 0.85% |
Correlation
The correlation between BMQSX and BSNSX is 0.78, 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. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.84 |
The correlation between BMQSX and BSNSX has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
BMQSX vs. BSNSX — Risk / Return Rank
BMQSX
BSNSX
BMQSX vs. BSNSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Municipal Bond Fund (BMQSX) and Baird Strategic Municipal Bond Fund (BSNSX). 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 | BSNSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.66 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.34 | -0.64 |
| Martin ratioReturn relative to average drawdown | 5.54 | 7.86 | -2.31 |
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Drawdowns
BMQSX vs. BSNSX - Drawdown Comparison
The maximum BMQSX drawdown since its inception was -12.76%, which is greater than BSNSX's maximum drawdown of -9.77%. Use the drawdown chart below to compare losses from any high point for BMQSX and BSNSX.
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Drawdown Indicators
| BMQSX | BSNSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.76% | -9.77% | -2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -1.81% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -2.92% | -1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -12.76% | -9.77% | -2.99% |
Current DrawdownCurrent decline from peak | -1.77% | -0.95% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -1.55% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.54% | +0.30% |
Volatility
BMQSX vs. BSNSX - Volatility Comparison
Baird Municipal Bond Fund (BMQSX) has a higher volatility of 0.86% compared to Baird Strategic Municipal Bond Fund (BSNSX) at 0.57%. This indicates that BMQSX's price experiences larger fluctuations and is considered to be riskier than BSNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMQSX | BSNSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.57% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 1.37% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.32% | 1.64% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.59% | 2.68% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 3.32% | +1.10% |
BMQSX vs. BSNSX - Expense Ratio Comparison
Both BMQSX and BSNSX have an expense ratio of 0.55%.
Dividends
BMQSX vs. BSNSX - Dividend Comparison
BMQSX's dividend yield for the trailing twelve months is around 2.96%, less than BSNSX's 3.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BMQSX Baird Municipal Bond Fund | 2.96% | 3.18% | 3.47% | 3.22% | 2.31% | 2.33% | 3.74% | 0.16% |
BSNSX Baird Strategic Municipal Bond Fund | 3.37% | 3.32% | 3.28% | 2.99% | 1.84% | 1.33% | 1.99% | 0.15% |
Frequently Asked Questions
BMQSX and BSNSX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMQSX has higher volatility (0.86%) compared to BSNSX (0.57%). In terms of maximum drawdown, BMQSX dropped -12.76% vs BSNSX's -9.77%.
BSNSX currently has the higher Sharpe Ratio (2.59 vs 2.02), 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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