Baird Core Intermediate Municipal Bond Fund Investor Class BMNSX

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

NAV / 1-Day Return$10.20 / 0.00
Fund Size$6.3B
Adjusted Expense Ratio0.550%
Net Expense Ratio0.550%
Fee Level: DistributionAverage
Share Class TypeNo Load
Morningstar CategoryMuni National Intermediate
Fixed-Income Style Box (Funds)Medium/Moderate
Minimum Initial Investment$2,500
Investment StatusOpen
TTM Yield3.39%
Average Effective Duration5.51 yrs

NAV and 1-Day Return as of Nov 11, 2026, 11:05:15 PM

Will BMNSX outperform in the future?

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable BMNSX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the BMNSX 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 BMNSX’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

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Portfolio Holdings BMNSX

More BMNSX Holdings

Current Portfolio DateOct 31, 2026
Equity Holdings—
Bond Holdings—
Other Holdings—
% Assets in Top 10 Holdings3.2

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
Federated Hermes Instl T-F Cash Premier	0.58	36M	Cash and Equivalents
PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 3.25%	0.42	26M	municipal
PUBLIC FIN AUTH WIS REV 4%	0.42	26M	municipal
CALIFORNIA MUN FIN AUTH REV 5%	0.34	21M	municipal
BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%	0.33	21M	municipal
SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%	0.33	20M	municipal
PEFA INC IOWA GAS PROJ REV 5%	0.31	19M	municipal
BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%	0.28	17M	municipal
SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%	0.27	17M	municipal
HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV 5%	0.24	15M	municipal

Baird Core Intermediate Municipal Bond Fund Investor Class BMNSX

Morningstar’s Analysis BMNSX

Will BMNSX outperform in the future?

Process Pillar

People Pillar

Parent Pillar

As steady as they come.

Summary

Portfolio Holdings BMNSX

Federated Hermes Instl T-F Cash Premier

PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 3.25%

PUBLIC FIN AUTH WIS REV 4%

CALIFORNIA MUN FIN AUTH REV 5%

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

PEFA INC IOWA GAS PROJ REV 5%

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV 5%

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