BMQSX vs. VWALX
Compare and contrast key facts about Baird Municipal Bond Fund (BMQSX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX).
BMQSX is managed by Baird. It was launched on Nov 14, 2019. VWALX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
BMQSX vs. VWALX - Performance Comparison
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BMQSX vs. VWALX - 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% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | -0.26% | 5.06% | 4.08% | 8.45% | -11.69% | 3.42% | 5.49% | 1.31% |
Returns By Period
In the year-to-date period, BMQSX achieves a -0.34% return, which is significantly lower than VWALX's -0.26% return.
BMQSX
- 1D
- 0.30%
- 1M
- -1.97%
- YTD
- -0.34%
- 6M
- 1.26%
- 1Y
- 3.96%
- 3Y*
- 3.58%
- 5Y*
- 1.56%
- 10Y*
- —
VWALX
- 1D
- 0.38%
- 1M
- -2.23%
- YTD
- -0.26%
- 6M
- 1.36%
- 1Y
- 4.06%
- 3Y*
- 4.63%
- 5Y*
- 1.55%
- 10Y*
- 3.08%
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BMQSX vs. VWALX - Expense Ratio Comparison
BMQSX has a 0.55% expense ratio, which is higher than VWALX's 0.09% expense ratio.
Return for Risk
BMQSX vs. VWALX — Risk / Return Rank
BMQSX
VWALX
BMQSX vs. VWALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Municipal Bond Fund (BMQSX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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 | VWALX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 0.79 | +0.32 |
Sortino ratioReturn per unit of downside risk | 1.45 | 1.08 | +0.38 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.14 | 0.97 | +0.17 |
Martin ratioReturn relative to average drawdown | 3.98 | 3.01 | +0.97 |
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 | VWALX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 0.79 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.33 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 1.07 | -0.41 |
Correlation
The correlation between BMQSX and VWALX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BMQSX vs. VWALX - Dividend Comparison
BMQSX's dividend yield for the trailing twelve months is around 3.16%, less than VWALX's 4.14% 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% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 4.14% | 5.04% | 4.47% | 3.59% | 3.44% | 3.04% | 3.40% | 4.03% | 3.85% | 3.77% | 3.86% | 3.75% |
Drawdowns
BMQSX vs. VWALX - Drawdown Comparison
The maximum BMQSX drawdown since its inception was -12.76%, smaller than the maximum VWALX drawdown of -17.24%. Use the drawdown chart below to compare losses from any high point for BMQSX and VWALX.
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Drawdown Indicators
| BMQSX | VWALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.76% | -17.24% | +4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -5.63% | +1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -12.76% | -17.24% | +4.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.24% | — |
Current DrawdownCurrent decline from peak | -2.26% | -2.50% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -2.18% | -0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.81% | -0.66% |
Volatility
BMQSX vs. VWALX - Volatility Comparison
The current volatility for Baird Municipal Bond Fund (BMQSX) is 1.13%, while Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) has a volatility of 1.29%. This indicates that BMQSX experiences smaller price fluctuations and is considered to be less risky than VWALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMQSX | VWALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.29% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 2.00% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 5.71% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 4.76% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 4.62% | -0.12% |