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Baird Short-Term Municipal Bond Fund Investor Class BTMSX

Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.

Fund and replication metrics

BTMSX compared with its replication portfolio
MeasureBTMSXReplication
Annualized growth1.4%1.9%
Annualized volatility2.3%2.5%
Sharpe ratio0.620.76
Maximum drawdown6.2%6.8%
Replication fit (R²)0.82 · Tracking error 1.0%

Replication portfolio

The published portfolio below is the investable basket used to model BTMSX’s historical return behavior.

BTMSX replication basket weights
TickerBuilding blockWeight
VGSHFI · Short Gov44.3%
MUBFI · Municipal36.0%
BKLNFI · Senior Bank Loans16.7%
STIPFI · Short TIPS3.0%