BMQSX vs. FXAIX
Compare and contrast key facts about Baird Municipal Bond Fund (BMQSX) and Fidelity 500 Index Fund (FXAIX).
BMQSX is managed by Baird. It was launched on Nov 14, 2019. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988.
Performance
BMQSX vs. FXAIX - Performance Comparison
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BMQSX vs. FXAIX - 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% |
FXAIX Fidelity 500 Index Fund | -4.34% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 3.78% |
Returns By Period
In the year-to-date period, BMQSX achieves a -0.34% return, which is significantly higher than FXAIX's -4.34% return.
BMQSX
- 1D
- 0.30%
- 1M
- -1.97%
- YTD
- -0.34%
- 6M
- 1.26%
- 1Y
- 3.96%
- 3Y*
- 3.58%
- 5Y*
- 1.56%
- 10Y*
- —
FXAIX
- 1D
- 2.92%
- 1M
- -5.02%
- YTD
- -4.34%
- 6M
- -2.14%
- 1Y
- 17.32%
- 3Y*
- 18.30%
- 5Y*
- 11.79%
- 10Y*
- 14.08%
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BMQSX vs. FXAIX - Expense Ratio Comparison
BMQSX has a 0.55% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Return for Risk
BMQSX vs. FXAIX — Risk / Return Rank
BMQSX
FXAIX
BMQSX vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Municipal Bond Fund (BMQSX) and Fidelity 500 Index Fund (FXAIX). 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 | FXAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 0.97 | +0.14 |
Sortino ratioReturn per unit of downside risk | 1.45 | 1.49 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.23 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.52 | -0.38 |
Martin ratioReturn relative to average drawdown | 3.98 | 7.30 | -3.32 |
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
| BMQSX | FXAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 0.97 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.70 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.76 | -0.11 |
Correlation
The correlation between BMQSX and FXAIX is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BMQSX vs. FXAIX - Dividend Comparison
BMQSX's dividend yield for the trailing twelve months is around 3.16%, more than FXAIX's 1.16% 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% |
FXAIX Fidelity 500 Index Fund | 1.16% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Drawdowns
BMQSX vs. FXAIX - Drawdown Comparison
The maximum BMQSX drawdown since its inception was -12.76%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for BMQSX and FXAIX.
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Drawdown Indicators
| BMQSX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.76% | -33.79% | +21.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -12.13% | +8.11% |
Max Drawdown (5Y)Largest decline over 5 years | -12.76% | -24.50% | +11.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.79% | — |
Current DrawdownCurrent decline from peak | -2.26% | -6.23% | +3.97% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -3.83% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 2.53% | -1.38% |
Volatility
BMQSX vs. FXAIX - Volatility Comparison
The current volatility for Baird Municipal Bond Fund (BMQSX) is 1.13%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 5.34%. This indicates that BMQSX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMQSX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 5.34% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 9.53% | -8.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 18.32% | -14.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 16.92% | -13.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 18.05% | -13.55% |