Baird Aggregate Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Baird Aggregate Bond Fund held 2,061 positions with $57.86B in net assets. Its ten largest holdings made up 15.4% of the fund. The BAGIX share class costs 0.3% a year. Over the 12 months to May 2026, BAGIX returned 5.2%, with dividends reinvested. In 2026 Q2 it added 90 new positions and exited 55.
The investment objective of the Baird Aggregate 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 U.S. Aggregate Index.
The fund seeks to outperform the Bloomberg U.S. Aggregate Index through three active techniques: yield curve positioning to select maturities and yields with the greatest return potential, sector allocation to overweight sectors offering superior value, and security selection to identify the best-value issuers within each sector. The fund holds investment-grade U.S. dollar-denominated debt obligations—government, mortgage-backed, asset-backed, and corporate—while maintaining portfolio duration substantially equal to the benchmark's. Because outperformance depends on the Advisor's judgments about which maturities, sectors, and issuers will outperform, results may diverge materially from the benchmark.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
US TREASURY N/B 3.50% · due 2029-03-15 | 2.30% | $1.33B | — |
First American Government Obli | 2.13% | $1.23B | — |
US TREASURY N/B 4.00% · due 2032-06-30 | 1.99% | $1.15B | — |
US TREASURY N/B 2.38% · due 2029-03-31 | 1.47% | $847.43M | — |
US TREASURY N/B 2.88% · due 2043-05-15 | 1.40% | $808.85M | — |
US TREASURY N/B 2.38% · due 2042-02-15 | 1.34% | $776.81M | — |
US TREASURY N/B 4.25% · due 2054-02-15 | 1.27% | $736.97M | — |
US TREASURY N/B 3.38% · due 2042-08-15 | 1.19% | $688.14M | — |
US TREASURY N/B 4.63% · due 2045-11-15 | 1.17% | $674.06M | — |
US TREASURY N/B 3.38% · due 2033-05-15 | 1.13% | $651.35M | — |
The 200 largest of 2,061 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 68.79% |
| Securitized | 28.50% |
| Cash & short-term | 2.13% |
By sector
- Government
- 29.7%
- Securitized
- 28.7%
- International
- 11.6%
- Other
- 9.8%
- 12 other sectors
- 20.3%
- Government
- 29.7%
- Securitized
- 28.7%
- International
- 11.6%
- Other
- 9.8%
- Financials
- 7.5%
- Cash
- 2.1%
- Utilities
- 2.1%
- Information Technology
- 1.8%
- Health Care
- 1.6%
- Industrials
- 1.4%
- Energy
- 1.1%
- Communication Services
- 1.1%
- Consumer Discretionary
- 0.4%
- Consumer Staples
- 0.4%
- Real Estate
- 0.4%
- Materials
- 0.3%
How it has done
BAGIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.28%. Past returns are a record, not a forecast.
Jun 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.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.30% | +5.24% | +13.81% | +2.14% | -4.87% | |
| 0.55% | +4.96% | +13.07% | +0.91% | -4.99% |
These classes hold the same portfolio, so the 1.23pp spread over 5 years is the cost difference between them — roughly 0.25pp a year — not a difference in what they own.
Fees & fund details
Baird Aggregate Bond Fund is an actively managed U.S. bond fund. 100% of BAGIX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 100% of the fund’s equity).
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.30% – 0.55%· BAGIX 0.30%
- Portfolio turnover
- 34.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
90 new· the largest 6
55 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
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 | 84.3% |
| Floating rate | 15.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.1% |
| 1-3y | 15.4% |
| 3-5y | 12.4% |
| 5-10y | 20.0% |
| 10y+ | 50.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
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 | 51% |
| Credit spreads | 49% |
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 | +5.65 yr |
| High yield | +0.03 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 | 0.04 yr | 1% |
| 1 yr | 0.42 yr | 7% |
| 5 yr | 1.19 yr | 20% |
| 10 yr | 2.26 yr | 39% |
| 30 yr | 1.94 yr | 33% |
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.42 yr | 7% |
| 5 yr | 1.18 yr | 21% |
| 10 yr | 2.18 yr | 38% |
| 30 yr | 1.87 yr | 33% |
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 | +0.04 | +0.04 | +0.00 | $206.9k | $12.4k |
| 1 yr | +0.42 | +0.41 | +0.00 | $2.39m | $26.0k |
| 5 yr | +1.19 | +1.17 | +0.01 | $6.77m | $54.2k |
| 10 yr | +2.26 | +2.17 | +0.01 | $12.56m | $54.7k |
| 30 yr | +1.94 | +1.86 | +0.00 | $10.78m | $24.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
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