BUBSX vs. TMPFX

Last updated Aug 1, 2026

BUBSX (Baird Ultra Short Bond Fund) and TMPFX (Tactical Multi-Purpose Fund) are both Ultrashort Bond funds. Over the past 5 years, BUBSX returned 3.59%/yr vs 2.81%/yr for TMPFX. Their 0.03 correlation means their historical movements had little consistent relationship. BUBSX charges 0.40%/yr vs 1.14%/yr for TMPFX.

Performance

BUBSX vs. TMPFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Ultra Short Bond Fund (BUBSX) and Tactical Multi-Purpose Fund (TMPFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BUBSX having a 2.04% return and TMPFX slightly higher at 2.13%.

BUBSX

• 1D: 0.00%
• 1M: 0.32%
• 6M: 1.75%
• YTD: 2.04%
• 1Y: 3.92%
• 3Y*: 4.85%
• 5Y*: 3.59%
• 10Y*: 2.55%
• ALL TIME*: 2.17%

TMPFX

• 1D: 0.00%
• 1M: 0.30%
• 6M: 1.92%
• YTD: 2.13%
• 1Y: 3.61%
• 3Y*: 3.92%
• 5Y*: 2.81%
• 10Y*: —
• ALL TIME*: 1.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUBSX Baird Ultra Short Bond Fund	$0.00	$0.00	$0.00
TMPFX Tactical Multi-Purpose Fund	$0.00	$0.00	$0.00

BUBSX vs. TMPFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BUBSX Baird Ultra Short Bond Fund	2.04%	4.53%	5.47%	5.43%	0.70%	-0.05%	1.66%	2.87%	1.61%
TMPFX Tactical Multi-Purpose Fund	2.13%	3.71%	4.26%	3.90%	0.51%	-0.91%	-0.60%	0.30%	-0.30%

Correlation

The correlation between BUBSX and TMPFX is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.08
Correlation (3Y) Balances recent behavior with more history.	-0.01
Correlation (5Y) Shows whether the relationship held over a longer period.	0.01
Correlation (All Time) Calculated using the full available price history since Jan 5, 2018	0.03

Return for Risk

BUBSX vs. TMPFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BUBSX

BUBSX Risk / Return Rank: 100
BUBSX Sharpe Ratio Rank: 100
BUBSX Sortino Ratio Rank: 100
BUBSX Omega Ratio Rank: 100
BUBSX Calmar Ratio Rank: 100
BUBSX Martin Ratio Rank: 100

TMPFX

TMPFX Risk / Return Rank: 100
TMPFX Sharpe Ratio Rank: 100
TMPFX Sortino Ratio Rank: 100
TMPFX Omega Ratio Rank: 100
TMPFX Calmar Ratio Rank: 100
TMPFX Martin Ratio Rank: 100

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BUBSX vs. TMPFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Ultra Short Bond Fund (BUBSX) and Tactical Multi-Purpose Fund (TMPFX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BUBSX	TMPFX	Difference
Sharpe ratio: Return per unit of total volatility	6.25	6.13	+0.11
Sortino ratio: Return per unit of downside risk	17.88	21.21	-3.33
Omega ratio: Gain probability vs. loss probability	8.54	13.22	-4.68
Calmar ratio: Return relative to maximum drawdown	40.96	37.35	+3.61
Martin ratio: Return relative to average drawdown	261.66	296.96	-35.30

BUBSX vs. TMPFX - Sharpe Ratio Comparison

The current BUBSX Sharpe Ratio is 6.25, which is comparable to the TMPFX Sharpe Ratio of 6.13. The chart below compares the historical Sharpe Ratios of BUBSX and TMPFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BUBSX vs. TMPFX - Drawdown Comparison

The maximum BUBSX drawdown since its inception was -1.88%, smaller than the maximum TMPFX drawdown of -3.52%. Use the drawdown chart below to compare losses from any high point for BUBSX and TMPFX.

Drawdown Indicators

	BUBSX	TMPFX	Difference
Max Drawdown Largest peak-to-trough decline	-1.88%	-3.52%	+1.64%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.10%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-0.29%	-3.52%	+3.23%
Max Drawdown (5Y) Largest decline over 5 years	-0.79%	-3.52%	+2.73%
Max Drawdown (10Y) Largest decline over 10 years	-1.88%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.64%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.01%	+0.01%

Volatility

BUBSX vs. TMPFX - Volatility Comparison

The current volatility for Baird Ultra Short Bond Fund (BUBSX) is 0.16%, while Tactical Multi-Purpose Fund (TMPFX) has a volatility of 0.26%. This indicates that BUBSX experiences smaller price fluctuations and is considered to be less risky than TMPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUBSX	TMPFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.16%	0.26%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	0.47%	0.47%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	0.65%	0.61%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.77%	2.34%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.70%	1.80%	-1.10%

BUBSX vs. TMPFX - Expense Ratio Comparison

BUBSX has a 0.40% expense ratio, which is lower than TMPFX's 1.14% expense ratio.

Dividends

BUBSX vs. TMPFX - Dividend Comparison

BUBSX's dividend yield for the trailing twelve months is around 3.95%, more than TMPFX's 3.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUBSX Baird Ultra Short Bond Fund	3.95%	4.24%	5.04%	4.39%	1.29%	0.25%	1.14%	2.33%	1.90%	1.04%	0.81%	0.56%
TMPFX Tactical Multi-Purpose Fund	3.73%	3.81%	4.15%	3.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUBSX and TMPFX in my portfolio?

BUBSX and TMPFX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUBSX or TMPFX?

TMPFX has higher volatility (0.26%) compared to BUBSX (0.16%). In terms of maximum drawdown, BUBSX dropped -1.88% vs TMPFX's -3.52%.

Which has better risk-adjusted returns?

BUBSX currently has the higher Sharpe Ratio (6.25 vs 6.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.