TNSHX vs. BSBSX
TNSHX (TIAA-CREF Short-Term Bond Index Fund) and BSBSX (Baird Short-Term Bond Fund Investor Class) are both Short-Term Bond funds. Over the past 10 years, TNSHX returned 1.79%/yr vs 2.21%/yr for BSBSX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. TNSHX charges 0.09%/yr vs 0.55%/yr for BSBSX.
Performance
TNSHX vs. BSBSX - Performance Comparison
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Returns By Period
In the year-to-date period, TNSHX achieves a 0.52% return, which is significantly lower than BSBSX's 0.96% return. Over the past 10 years, TNSHX has underperformed BSBSX with an annualized return of 1.79%, while BSBSX has yielded a comparatively higher 2.21% annualized return.
TNSHX
- 1D
- -0.10%
- 1M
- -0.31%
- 6M
- 0.39%
- YTD
- 0.52%
- 1Y
- 2.48%
- 3Y*
- 4.21%
- 5Y*
- 1.79%
- 10Y*
- 1.79%
- ALL TIME*
- 1.83%
BSBSX
- 1D
- 0.00%
- 1M
- 0.13%
- 6M
- 0.68%
- YTD
- 0.96%
- 1Y
- 2.92%
- 3Y*
- 4.80%
- 5Y*
- 2.29%
- 10Y*
- 2.21%
- ALL TIME*
- 2.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TNSHX vs. BSBSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNSHX TIAA-CREF Short-Term Bond Index Fund | 0.52% | 5.31% | 4.03% | 4.05% | -3.96% | -0.57% | 3.26% | 4.05% | 1.31% | 0.70% |
BSBSX Baird Short-Term Bond Fund Investor Class | 0.96% | 5.41% | 4.73% | 5.39% | -3.88% | -0.57% | 3.87% | 4.42% | 1.24% | 1.28% |
Correlation
The correlation between TNSHX and BSBSX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.70 |
The correlation between TNSHX and BSBSX has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.
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Return for Risk
TNSHX vs. BSBSX — Risk / Return Rank
TNSHX
BSBSX
TNSHX vs. BSBSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Short-Term Bond Index Fund (TNSHX) 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.
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.
| TNSHX | BSBSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.58 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 4.03 | -1.45 |
| Martin ratioReturn relative to average drawdown | 9.51 | 17.26 | -7.75 |
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Drawdowns
TNSHX vs. BSBSX - Drawdown Comparison
The maximum TNSHX drawdown since its inception was -5.99%, roughly equal to the maximum BSBSX drawdown of -6.29%. Use the drawdown chart below to compare losses from any high point for TNSHX and BSBSX.
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Drawdown Indicators
| TNSHX | BSBSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.99% | -6.29% | +0.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -0.84% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -1.13% | -0.84% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -5.99% | -6.25% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -5.99% | -6.29% | +0.30% |
Current DrawdownCurrent decline from peak | -0.31% | 0.00% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -0.66% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 0.19% | +0.12% |
Volatility
TNSHX vs. BSBSX - Volatility Comparison
TIAA-CREF Short-Term Bond Index Fund (TNSHX) has a higher volatility of 0.40% compared to Baird Short-Term Bond Fund Investor Class (BSBSX) at 0.32%. This indicates that TNSHX'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.
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Volatility by Period
| TNSHX | BSBSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 0.32% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 1.01% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 1.37% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.26% | 1.96% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.82% | 1.68% | +0.14% |
TNSHX vs. BSBSX - Expense Ratio Comparison
TNSHX has a 0.09% expense ratio, which is lower than BSBSX's 0.55% expense ratio.
Dividends
TNSHX vs. BSBSX - Dividend Comparison
TNSHX's dividend yield for the trailing twelve months is around 3.73%, less than BSBSX's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSBSX Baird Short-Term Bond Fund Investor Class | 3.97% | 4.10% | 4.08% | 3.16% | 1.54% | 1.17% | 2.37% | 2.24% | 1.96% | 1.49% | 1.35% | 1.37% |
TNSHX TIAA-CREF Short-Term Bond Index Fund | 3.73% | 4.22% | 3.94% | 2.68% | 1.00% | 1.03% | 1.81% | 2.45% | 1.80% | 1.31% | 0.98% | 0.00% |
Frequently Asked Questions
TNSHX and BSBSX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNSHX has higher volatility (0.40%) compared to BSBSX (0.32%). In terms of maximum drawdown, TNSHX dropped -5.99% vs BSBSX's -6.29%.
BSBSX currently has the higher Sharpe Ratio (2.46 vs 1.60), 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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