About BTMIX
The Baird Short-Term Municipal Bond Fund Institutional Class is a mutual fund focusing on a diversified portfolio of high-quality, federally tax-exempt municipal bonds. Its core objective is to provide current income that is exempt from federal income tax, primarily through investments in municipal obligations such as pre-refunded bonds, general obligation bonds, revenue bonds, municipal lease participations, and zero coupon bonds. The fund implements a value-driven selection process, seeking undervalued municipal securities with above-average return characteristics, while maintaining a short effective duration of around 2.3 years to help limit interest rate risk.
This fund mainly invests in investment-grade municipal bonds (high credit ratings such as AA and A), though it may allocate up to 10% of its assets to non-investment grade securities. With over 1,400 holdings and a low expense ratio, the fund is structured to offer stability, liquidity, and predictable monthly income distributions. It is led by an experienced management team that responds to market dynamics by considering trends in interest rates, credit conditions, and regional economic factors. The Baird Short-Term Municipal Bond Fund serves investors seeking tax-exempt income with lower sensitivity to interest rate fluctuations, and it holds a notable position in the short-term municipal bond category due to its disciplined management and consistent market presence.
Fund Family Baird
Category Muni National Short
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol BTMIX
Share Class Institutional Class
Index Bloomberg Muni Bond Short (1-5) TR
BTMIX had a total return of 2.29% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.04%.
