Morningstar

Baird Short-Term Municipal Bond Fund Investor Class BTMSX

Morningstar Medalist Rating
Medalist Rating as of | See Baird Investment Hub
  • NAV / 1-Day Return 9.82  /  +0.41 %
  • Total Assets 2.3B
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.550%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 3.19%
  • Effective Duration 2.39 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 12:55 AM GMT+0

Morningstar’s Analysis BTMSX

Will BTMSX outperform in the future?

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

  • Process Pillar

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

  • People Pillar

    The People Pillar is our evaluation of the BTMSX 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 BTMSX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Baird Short-Term Municipal Bond Investor holds a quantitatively derived Silver Morningstar Medalist Rating. The rating reflects that it has scored well on factors Morningstar research associates with future outperformance relative to category peers.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings BTMSX

More BTMSX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 5.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Notes 4%

1.00 25M
Government

United States Treasury Notes 4.13%

0.80 20M
Government

Federated Hermes Instl T-F Cash Premier

0.71 18M
Cash and Equivalents

United States Treasury Notes 4%

0.60 15M
Government

DALLAS TEX INDPT SCH DIST 5%

0.52 13M
municipal

ILLINOIS FIN AUTH REV 3.05%

0.48 12M
municipal

RURAL WTR FING AGY KY PUB PROJS REV 2.88%

0.44 11M
municipal

TEXAS TRANSN COMMN CENT TEX TPK SYS REV 5%

0.41 10M
municipal

HARRIS CNTY TEX CULTURAL ED FACS FIN CORP REV 5%

0.41 10M
municipal

MARYLAND ST 3%

0.39 10M
municipal

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