Baird Core Intermediate Municipal Bond Fund Institutional Class BMNIX

Medalist Rating as of Apr 27, 2026 See Baird Investment Hub

NAV / 1-Day Return$10.22 / +0.29%
Fund Size$6.3B
Adjusted Expense Ratio0.300%
Net Expense Ratio0.300%
Fee Level: DistributionLow
Share Class TypeInstitutional
Morningstar CategoryMuni National Intermediate
Fixed-Income Style Box (Funds)Medium/Moderate
Minimum Initial Investment$10,000
Investment StatusOpen
TTM Yield3.63%
Average Effective Duration5.51 yrs

NAV and 1-Day Return as of Nov 7, 2026, 1:58:45 AM

Will BMNIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

Start a 7-Day Free Trial

Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable BMNIX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the BMNIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of BMNIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

As steady as they come.

Max Curtin

Senior Analyst

Summary

Baird Core Intermediate Municipal Bond’s seasoned team and measured approach make for a great combination. A decade after starting up this franchise, Baird has earned its place among the top municipal-bond managers.

by Max Curtin

Rated on Apr 27, 2026 Published on Apr 27, 2026

Start a 7-Day Free Trial

Unlock our full analysis with Morningstar Investor

Portfolio Holdings BMNIX

More BMNIX Holdings

Current Portfolio DateSep 30, 2026
Equity Holdings—
Bond Holdings—
Other Holdings—
% Assets in Top 10 Holdings4.2

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
Federated Hermes Instl T-F Cash Premier	2.15	144M	Cash and Equivalents
United States Treasury Notes 4%	1.12	75M	Government
PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 3.25%	0.39	26M	municipal
CALIFORNIA MUN FIN AUTH REV 5%	0.38	26M	municipal
PUBLIC FIN AUTH WIS REV 4%	0.38	26M	municipal
Alabama Toll Road Bridge And Tunnel Authority	0.35	24M	municipal
PEFA INC IOWA GAS PROJ REV 5%	0.35	23M	municipal
SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%	0.32	22M	municipal
Alabama Toll Road Bridge And Tunnel Authority	0.31	21M	municipal
BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%	0.30	20M	municipal

Baird Core Intermediate Municipal Bond Fund Institutional Class BMNIX

Morningstar’s Analysis BMNIX

Will BMNIX outperform in the future?

Process Pillar

People Pillar

Parent Pillar

As steady as they come.

Summary

Portfolio Holdings BMNIX

Federated Hermes Instl T-F Cash Premier

United States Treasury Notes 4%

PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 3.25%

CALIFORNIA MUN FIN AUTH REV 5%

PUBLIC FIN AUTH WIS REV 4%

Alabama Toll Road Bridge And Tunnel Authority

PEFA INC IOWA GAS PROJ REV 5%

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

Alabama Toll Road Bridge And Tunnel Authority

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

Sponsor Center

What We Do

Company

Get Help