EIM vs. BSNIX
EIM (Eaton Vance Municipal Bond Fund) and BSNIX (Baird Strategic Municipal Bond Fund Institutional Class) are both Municipal Bonds funds. Over the past 5 years, EIM returned -1.28%/yr vs 2.21%/yr for BSNIX. At a 0.38 correlation, their price movements are largely independent. EIM charges 0.01%/yr vs 0.30%/yr for BSNIX.
Performance
EIM vs. BSNIX - Performance Comparison
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Returns By Period
In the year-to-date period, EIM achieves a 3.77% return, which is significantly higher than BSNIX's 1.36% return.
EIM
- 1D
- 0.62%
- 1M
- 1.35%
- YTD
- 3.77%
- 6M
- 4.73%
- 1Y
- 9.64%
- 3Y*
- 5.26%
- 5Y*
- -1.28%
- 10Y*
- 1.44%
BSNIX
- 1D
- 0.00%
- 1M
- 1.00%
- YTD
- 1.36%
- 6M
- 1.59%
- 1Y
- 5.47%
- 3Y*
- 4.41%
- 5Y*
- 2.21%
- 10Y*
- —
EIM vs. BSNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EIM Eaton Vance Municipal Bond Fund | 3.77% | -0.08% | 8.21% | 1.66% | -19.82% | 4.35% | 10.53% | 0.67% |
BSNIX Baird Strategic Municipal Bond Fund Institutional Class | 1.36% | 4.90% | 3.17% | 6.78% | -5.31% | 2.26% | 8.39% | 0.88% |
Correlation
The correlation between EIM and BSNIX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.38 |
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Return for Risk
EIM vs. BSNIX — Risk / Return Rank
EIM
BSNIX
EIM vs. BSNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Municipal Bond Fund (EIM) and Baird Strategic Municipal Bond Fund Institutional Class (BSNIX). 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.
| EIM | BSNIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -3.38 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.95 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.67 | -0.85 |
| Martin ratioReturn relative to average drawdown | 3.76 | 9.71 | -5.95 |
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Drawdowns
EIM vs. BSNIX - Drawdown Comparison
The maximum EIM drawdown since its inception was -52.50%, which is greater than BSNIX's maximum drawdown of -9.58%. Use the drawdown chart below to compare losses from any high point for EIM and BSNIX.
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Drawdown Indicators
| EIM | BSNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.50% | -9.58% | -42.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.30% | -2.09% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -3.41% | -10.00% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -9.58% | -22.11% |
Max Drawdown (10Y)Largest decline over 10 years | -31.69% | — | — |
Current DrawdownCurrent decline from peak | -9.53% | -0.35% | -9.18% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -1.49% | -6.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 0.57% | +2.00% |
Volatility
EIM vs. BSNIX - Volatility Comparison
Eaton Vance Municipal Bond Fund (EIM) has a higher volatility of 2.38% compared to Baird Strategic Municipal Bond Fund Institutional Class (BSNIX) at 0.42%. This indicates that EIM's price experiences larger fluctuations and is considered to be riskier than BSNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIM | BSNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.38% | 0.42% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 1.30% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.25% | 1.63% | +7.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.74% | 2.68% | +8.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.57% | 3.35% | +8.22% |
EIM vs. BSNIX - Expense Ratio Comparison
EIM has a 0.01% expense ratio, which is lower than BSNIX's 0.30% expense ratio.
Dividends
EIM vs. BSNIX - Dividend Comparison
EIM's dividend yield for the trailing twelve months is around 6.23%, more than BSNIX's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSNIX Baird Strategic Municipal Bond Fund Institutional Class | 3.27% | 3.29% | 3.51% | 3.22% | 2.09% | 1.58% | 2.23% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% |
EIM Eaton Vance Municipal Bond Fund | 6.23% | 6.27% | 5.65% | 4.07% | 4.87% | 4.38% | 4.29% | 4.00% | 4.98% | 5.48% | 5.64% | 5.90% |
Frequently Asked Questions
EIM and BSNIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIM has higher volatility (2.38%) compared to BSNIX (0.42%). In terms of maximum drawdown, EIM dropped -52.50% vs BSNIX's -9.58%.
BSNIX currently has the higher Sharpe Ratio (3.43 vs 1.05), 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.
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