BTMSX vs. BMN
Compare and contrast key facts about Baird Short-Term Municipal Bond Fund (BTMSX) and Blackrock 2037 Municipal Target Term Trust (BMN).
BTMSX is managed by Baird. It was launched on Aug 30, 2015. BMN is an actively managed fund by BlackRock. It was launched on Oct 28, 2022.
Performance
BTMSX vs. BMN - Performance Comparison
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BTMSX vs. BMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BTMSX Baird Short-Term Municipal Bond Fund | 0.26% | 4.46% | 2.98% | 3.90% | 2.31% |
BMN Blackrock 2037 Municipal Target Term Trust | 1.11% | 7.05% | 12.65% | 1.89% | -2.55% |
Returns By Period
In the year-to-date period, BTMSX achieves a 0.26% return, which is significantly lower than BMN's 1.11% return.
BTMSX
- 1D
- 0.10%
- 1M
- -0.91%
- YTD
- 0.26%
- 6M
- 0.95%
- 1Y
- 3.60%
- 3Y*
- 3.40%
- 5Y*
- 1.58%
- 10Y*
- 1.79%
BMN
- 1D
- 0.96%
- 1M
- -4.53%
- YTD
- 1.11%
- 6M
- 6.76%
- 1Y
- 9.12%
- 3Y*
- 6.05%
- 5Y*
- —
- 10Y*
- —
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BTMSX vs. BMN - Expense Ratio Comparison
BTMSX has a 0.55% expense ratio, which is lower than BMN's 0.93% expense ratio.
Return for Risk
BTMSX vs. BMN — Risk / Return Rank
BTMSX
BMN
BTMSX vs. BMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Short-Term Municipal Bond Fund (BTMSX) and Blackrock 2037 Municipal Target Term Trust (BMN). 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.
| BTMSX | BMN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 0.75 | +1.32 |
Sortino ratioReturn per unit of downside risk | 2.79 | 1.18 | +1.60 |
Omega ratioGain probability vs. loss probability | 1.71 | 1.15 | +0.56 |
Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.36 | +0.76 |
Martin ratioReturn relative to average drawdown | 9.66 | 3.59 | +6.07 |
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
| BTMSX | BMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 0.75 | +1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.55 | +0.45 |
Correlation
The correlation between BTMSX and BMN is 0.13, 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
BTMSX vs. BMN - Dividend Comparison
BTMSX's dividend yield for the trailing twelve months is around 3.05%, less than BMN's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BTMSX Baird Short-Term Municipal Bond Fund | 3.05% | 3.05% | 2.93% | 2.48% | 1.36% | 0.88% | 1.30% | 1.66% | 1.53% | 1.43% | 1.17% |
BMN Blackrock 2037 Municipal Target Term Trust | 4.30% | 4.30% | 4.40% | 4.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BTMSX vs. BMN - Drawdown Comparison
The maximum BTMSX drawdown since its inception was -6.51%, smaller than the maximum BMN drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for BTMSX and BMN.
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Drawdown Indicators
| BTMSX | BMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.51% | -13.04% | +6.53% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -5.92% | +4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -6.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.51% | — | — |
Current DrawdownCurrent decline from peak | -1.00% | -4.53% | +3.53% |
Average DrawdownAverage peak-to-trough decline | -0.95% | -2.17% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 2.24% | -1.82% |
Volatility
BTMSX vs. BMN - Volatility Comparison
The current volatility for Baird Short-Term Municipal Bond Fund (BTMSX) is 0.49%, while Blackrock 2037 Municipal Target Term Trust (BMN) has a volatility of 5.73%. This indicates that BTMSX experiences smaller price fluctuations and is considered to be less risky than BMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTMSX | BMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 5.73% | -5.24% |
Volatility (6M)Calculated over the trailing 6-month period | 0.74% | 9.49% | -8.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 12.24% | -10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.71% | 10.52% | -8.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.84% | 10.52% | -8.68% |