CMFIX vs. BSBSX

Last updated Jun 4, 2026

CMFIX (CM Advisors Fixed Income Fund) and BSBSX (Baird Short-Term Bond Fund Investor Class) are both Short-Term Bond funds. Over the past 10 years, CMFIX returned 3.18%/yr vs 2.23%/yr for BSBSX. At a 0.42 correlation, their price movements are largely independent. CMFIX charges 0.88%/yr vs 0.55%/yr for BSBSX.

Performance

CMFIX vs. BSBSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CM Advisors Fixed Income Fund (CMFIX) and Baird Short-Term Bond Fund Investor Class (BSBSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMFIX achieves a 0.90% return, which is significantly higher than BSBSX's 0.63% return. Over the past 10 years, CMFIX has outperformed BSBSX with an annualized return of 3.18%, while BSBSX has yielded a comparatively lower 2.23% annualized return.

CMFIX

• 1D: 0.79%
• 1M: -0.26%
• YTD: 0.90%
• 6M: 1.02%
• 1Y: 7.64%
• 3Y*: 7.59%
• 5Y*: 4.36%
• 10Y*: 3.18%

BSBSX

• 1D: 0.00%
• 1M: 0.23%
• YTD: 0.63%
• 6M: 0.93%
• 1Y: 3.85%
• 3Y*: 4.83%
• 5Y*: 2.25%
• 10Y*: 2.23%

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

CMFIX vs. BSBSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMFIX CM Advisors Fixed Income Fund	0.90%	7.75%	4.55%	12.38%	-3.67%	3.06%	0.88%	2.82%	-1.63%	2.30%
BSBSX Baird Short-Term Bond Fund Investor Class	0.63%	5.41%	4.73%	5.39%	-3.88%	-0.57%	3.87%	4.42%	1.24%	1.28%

Correlation

The correlation between CMFIX and BSBSX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.42

Return for Risk

CMFIX vs. BSBSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMFIX

CMFIX Risk / Return Rank: 71
CMFIX Sharpe Ratio Rank: 44
CMFIX Sortino Ratio Rank: 50
CMFIX Omega Ratio Rank: 83
CMFIX Calmar Ratio Rank: 90
CMFIX Martin Ratio Rank: 90

BSBSX

BSBSX Risk / Return Rank: 88
BSBSX Sharpe Ratio Rank: 83
BSBSX Sortino Ratio Rank: 89
BSBSX Omega Ratio Rank: 87
BSBSX Calmar Ratio Rank: 89
BSBSX Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMFIX vs. BSBSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CM Advisors Fixed Income Fund (CMFIX) and Baird Short-Term Bond Fund Investor Class (BSBSX). 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.

	CMFIX	BSBSX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.70	-0.76
Sortino ratio: Return per unit of downside risk	2.99	4.39	-1.40
Omega ratio: Gain probability vs. loss probability	1.56	1.62	-0.06
Calmar ratio: Return relative to maximum drawdown	4.68	4.50	+0.18
Martin ratio: Return relative to average drawdown	18.20	19.49	-1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMFIX vs. BSBSX - Sharpe Ratio Comparison

The current CMFIX Sharpe Ratio is 1.94, which is comparable to the BSBSX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of CMFIX and BSBSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMFIX	BSBSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.70	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	1.16	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	1.33	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	1.31	-0.48

Drawdowns

CMFIX vs. BSBSX - Drawdown Comparison

The maximum CMFIX drawdown since its inception was -15.96%, which is greater than BSBSX's maximum drawdown of -6.29%. Use the drawdown chart below to compare losses from any high point for CMFIX and BSBSX.

Drawdown Indicators

	CMFIX	BSBSX	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-6.29%	-9.67%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-0.84%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-3.65%	-0.84%	-2.81%
Max Drawdown (5Y) Largest decline over 5 years	-4.81%	-6.29%	+1.48%
Max Drawdown (10Y) Largest decline over 10 years	-4.81%	-6.29%	+1.48%
Current Drawdown Current decline from peak	-0.56%	-0.11%	-0.45%
Average Drawdown Average peak-to-trough decline	-1.04%	-0.67%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	0.19%	+0.23%

Volatility

CMFIX vs. BSBSX - Volatility Comparison

CM Advisors Fixed Income Fund (CMFIX) has a higher volatility of 1.86% compared to Baird Short-Term Bond Fund Investor Class (BSBSX) at 0.42%. This indicates that CMFIX's price experiences larger fluctuations and is considered to be riskier than BSBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMFIX	BSBSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	0.42%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	2.37%	0.91%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	1.39%	+2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.16%	1.95%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.19%	1.68%	+1.51%

CMFIX vs. BSBSX - Expense Ratio Comparison

CMFIX has a 0.88% expense ratio, which is higher than BSBSX's 0.55% expense ratio.

Dividends

CMFIX vs. BSBSX - Dividend Comparison

CMFIX's dividend yield for the trailing twelve months is around 4.80%, more than BSBSX's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSBSX Baird Short-Term Bond Fund Investor Class	4.02%	4.10%	4.08%	3.16%	1.54%	1.17%	2.37%	2.24%	1.96%	1.49%	1.35%	1.37%
CMFIX CM Advisors Fixed Income Fund	4.80%	3.28%	3.91%	4.21%	1.33%	2.49%	1.63%	2.23%	3.34%	3.74%	3.50%	1.85%

Frequently Asked Questions

Can I hold both CMFIX and BSBSX in my portfolio?

CMFIX and BSBSX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMFIX or BSBSX?

CMFIX has higher volatility (1.86%) compared to BSBSX (0.42%). In terms of maximum drawdown, CMFIX dropped -15.96% vs BSBSX's -6.29%.

Which has better risk-adjusted returns?

BSBSX currently has the higher Sharpe Ratio (2.70 vs 1.94), 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.