BTMSX vs. BSBIX
Compare and contrast key facts about Baird Short-Term Municipal Bond Fund (BTMSX) and Baird Short-Term Bond Fund Institutional Class (BSBIX).
BTMSX is managed by Baird. It was launched on Aug 30, 2015. BSBIX is a passively managed fund by Baird that tracks the performance of the Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index. It was launched on Aug 31, 2004.
Performance
BTMSX vs. BSBIX - Performance Comparison
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BTMSX vs. BSBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTMSX Baird Short-Term Municipal Bond Fund | 0.26% | 4.46% | 2.98% | 3.90% | -4.01% | 0.59% | 2.90% | 3.81% | 1.34% | 2.45% |
BSBIX Baird Short-Term Bond Fund Institutional Class | 0.27% | 5.67% | 4.99% | 5.65% | -3.64% | -0.42% | 4.23% | 4.68% | 1.49% | 1.53% |
Returns By Period
The year-to-date returns for both investments are quite close, with BTMSX having a 0.26% return and BSBIX slightly higher at 0.27%. Over the past 10 years, BTMSX has underperformed BSBIX with an annualized return of 1.79%, while BSBIX has yielded a comparatively higher 2.51% annualized 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%
BSBIX
- 1D
- 0.00%
- 1M
- -0.39%
- YTD
- 0.27%
- 6M
- 1.29%
- 1Y
- 4.15%
- 3Y*
- 5.01%
- 5Y*
- 2.46%
- 10Y*
- 2.51%
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BTMSX vs. BSBIX - Expense Ratio Comparison
BTMSX has a 0.55% expense ratio, which is higher than BSBIX's 0.30% expense ratio.
Return for Risk
BTMSX vs. BSBIX — Risk / Return Rank
BTMSX
BSBIX
BTMSX vs. BSBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baird Short-Term Municipal Bond Fund (BTMSX) and Baird Short-Term Bond Fund Institutional Class (BSBIX). 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 | BSBIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 3.02 | -0.95 |
Sortino ratioReturn per unit of downside risk | 2.79 | 4.76 | -1.98 |
Omega ratioGain probability vs. loss probability | 1.71 | 1.81 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 2.12 | 4.54 | -2.42 |
Martin ratioReturn relative to average drawdown | 9.66 | 20.13 | -10.47 |
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 | BSBIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 3.02 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 1.28 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 1.51 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.64 | -0.64 |
Correlation
The correlation between BTMSX and BSBIX is 0.33, 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. BSBIX - Dividend Comparison
BTMSX's dividend yield for the trailing twelve months is around 3.05%, less than BSBIX's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
BSBIX Baird Short-Term Bond Fund Institutional Class | 4.30% | 4.35% | 4.34% | 3.41% | 1.79% | 1.42% | 2.61% | 2.49% | 2.20% | 1.73% | 1.60% | 1.62% |
Drawdowns
BTMSX vs. BSBIX - Drawdown Comparison
The maximum BTMSX drawdown since its inception was -6.51%, which is greater than BSBIX's maximum drawdown of -5.95%. Use the drawdown chart below to compare losses from any high point for BTMSX and BSBIX.
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Drawdown Indicators
| BTMSX | BSBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.51% | -5.95% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -0.94% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -6.51% | -5.95% | -0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -6.51% | -5.95% | -0.56% |
Current DrawdownCurrent decline from peak | -1.00% | -0.59% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -0.95% | -0.55% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.21% | +0.21% |
Volatility
BTMSX vs. BSBIX - Volatility Comparison
The current volatility for Baird Short-Term Municipal Bond Fund (BTMSX) is 0.49%, while Baird Short-Term Bond Fund Institutional Class (BSBIX) has a volatility of 0.53%. This indicates that BTMSX experiences smaller price fluctuations and is considered to be less risky than BSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTMSX | BSBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 0.53% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.74% | 0.86% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 1.42% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.71% | 1.93% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.84% | 1.67% | +0.17% |