BSNSX vs. SHM
Compare and contrast key facts about Baird Strategic Municipal Bond Fund (BSNSX) and SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM).
BSNSX is managed by Baird. It was launched on Nov 14, 2019. SHM is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Managed Money Short. It was launched on Oct 10, 2007.
Performance
BSNSX vs. SHM - Performance Comparison
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BSNSX vs. SHM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSNSX Baird Strategic Municipal Bond Fund | 0.24% | 4.83% | 2.92% | 6.53% | -5.54% | 2.00% | 8.13% | 0.85% |
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 0.23% | 3.95% | 1.22% | 2.92% | -3.82% | -0.37% | 2.65% | 0.53% |
Returns By Period
The year-to-date returns for both stocks are quite close, with BSNSX having a 0.24% return and SHM slightly lower at 0.23%.
BSNSX
- 1D
- 0.19%
- 1M
- -1.32%
- YTD
- 0.24%
- 6M
- 1.50%
- 1Y
- 4.30%
- 3Y*
- 3.97%
- 5Y*
- 1.99%
- 10Y*
- —
SHM
- 1D
- 0.11%
- 1M
- -0.82%
- YTD
- 0.23%
- 6M
- 0.58%
- 1Y
- 3.05%
- 3Y*
- 2.30%
- 5Y*
- 0.86%
- 10Y*
- 1.17%
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BSNSX vs. SHM - Expense Ratio Comparison
BSNSX has a 0.55% expense ratio, which is higher than SHM's 0.20% expense ratio.
Return for Risk
BSNSX vs. SHM — Risk / Return Rank
BSNSX
SHM
BSNSX vs. SHM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Strategic Municipal Bond Fund (BSNSX) and SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM). 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.
| BSNSX | SHM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.65 | 1.68 | -0.04 |
Sortino ratioReturn per unit of downside risk | 2.15 | 2.12 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.41 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.96 | -0.31 |
Martin ratioReturn relative to average drawdown | 6.94 | 6.11 | +0.83 |
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
| BSNSX | SHM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 1.68 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.42 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.47 | +0.43 |
Correlation
The correlation between BSNSX and SHM 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
BSNSX vs. SHM - Dividend Comparison
BSNSX's dividend yield for the trailing twelve months is around 3.33%, more than SHM's 2.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSNSX Baird Strategic Municipal Bond Fund | 3.33% | 3.32% | 3.28% | 2.99% | 1.84% | 1.33% | 1.99% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% |
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 2.65% | 2.61% | 2.06% | 1.15% | 0.69% | 0.86% | 1.24% | 1.40% | 1.23% | 1.06% | 0.94% | 0.92% |
Drawdowns
BSNSX vs. SHM - Drawdown Comparison
The maximum BSNSX drawdown since its inception was -9.77%, smaller than the maximum SHM drawdown of -11.61%. Use the drawdown chart below to compare losses from any high point for BSNSX and SHM.
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Drawdown Indicators
| BSNSX | SHM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.77% | -11.61% | +1.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -1.67% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -9.77% | -6.67% | -3.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.61% | — |
Current DrawdownCurrent decline from peak | -1.51% | -0.92% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -0.97% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.54% | +0.15% |
Volatility
BSNSX vs. SHM - Volatility Comparison
Baird Strategic Municipal Bond Fund (BSNSX) has a higher volatility of 0.76% compared to SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) at 0.53%. This indicates that BSNSX's price experiences larger fluctuations and is considered to be riskier than SHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSNSX | SHM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.53% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 0.89% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 1.83% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.65% | 2.07% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.39% | 3.30% | +0.09% |