Baird Short-Term Bond Fund
Baird Funds Inc · Series S000000757 · 2 share classes
data updated 2026-08-17
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Baird Short-Term Bond Fund (the Fund) is to seek an annual rate of total return, before fund expenses, greater than the annual rate of total return of the Bloomberg 1-3 Year U.S. Government/Credit Index.
The fund invests in investment-grade U.S. dollar-denominated debt across government, corporate, asset-backed, and mortgage-backed sectors, with dollar-weighted average maturity normally between one and three years. The Advisor seeks to outperform the Bloomberg 1-3 Year U.S. Government/Credit Index through yield curve positioning, sector allocation, and security selection while maintaining portfolio duration close to the benchmark's. Because the fund's outperformance depends on the Advisor's ability to identify undervalued securities and favorable sectors relative to the index, performance may diverge materially from the benchmark.
| Share class | Expense ratio |
|---|---|
| BSBIX | 0.30% |
| BSBSX | 0.55% |
Portfolio turnover 119.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Bonds | 82.65% |
| Securitized | 12.67% |
| Cash & short-term | 3.63% |
Latest quarter
What changed since the fund's previous filing
Largest new: US TREASURY N/B, FIDELITY NATL INFO SERV, MERCEDES-BENZ FIN NA, GM Financial Revolving Receiva, NATIONAL BANK OF CANADA, CONCENTRIX CORP, Verus Securitization Trust, LEIDOS INC
Largest exited: US TREASURY N/B ×2, COOPERATIEVE RABOBANK UA, Ford Credit Auto Owner Trust/F, FELLS POINT FUNDING TR, Ford Credit Floorplan Master O, REGAL REXNORD CORP, UTAH ACQUISITION SUB
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| — | — | — | — | — |
Mar 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-03-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 85.0% |
| Floating rate | 15.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.2% |
| 1-3y | 75.7% |
| 3-5y | 9.1% |
| 5-10y | 0.9% |
| 10y+ | 10.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 50% |
| Credit spreads | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.78 yr |
| High yield | +0.02 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.08 yr | 4% |
| 1 yr | 1.20 yr | 65% |
| 5 yr | 0.55 yr | 30% |
| 10 yr | 0.01 yr | 0% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.07 yr | 4% |
| 1 yr | 1.18 yr | 66% |
| 5 yr | 0.54 yr | 30% |
| 10 yr | 0.01 yr | 0% |
| 30 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.08 | +0.06 | +0.01 | $72.6k | $12.7k |
| 1 yr | +1.20 | +1.18 | +0.00 | $1.41m | $5.1k |
| 5 yr | +0.55 | +0.54 | +0.00 | $644.7k | $646 |
| 10 yr | +0.01 | +0.00 | +0.00 | $5.9k | $118 |
| 30 yr | +0.00 | +0.00 | +0.00 | $2.1k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | US TREASURY N/B3.50% · due 2028-10-15 | 11.52% | $1.38B | — |
| — | US TREASURY N/B3.63% · due 2028-08-15 | 6.87% | $824.40M | — |
| — | US TREASURY N/B4.25% · due 2028-01-15 | 6.51% | $781.64M | — |
| — | First American Government Obli | 3.63% | $435.76M | — |
| — | US TREASURY N/B3.75% · due 2028-04-15 | 3.02% | $362.15M | — |
| — | US TREASURY N/B3.50% · due 2029-03-15 | 1.32% | $158.36M | — |
| — | INTL FLAVOR & FRAGRANCES1.83% · due 2027-10-15 | 0.49% | $58.97M | — |
| — | KYNDRYL HOLDINGS INC2.05% · due 2026-10-15 | 0.48% | $58.06M | — |
| — | LKQ CORP5.75% · due 2028-06-15 | 0.46% | $55.39M | — |
| — | FIDELITY NATL INFO SERV3.75% · due 2029-05-21 | 0.44% | $53.38M | — |
Top 10 positions are 34.73% of net assets, top 25 40.76%, across 311 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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