Baird Core Plus Bond Fund
Baird Funds Inc · Series S000000754 · 2 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Baird Core Plus 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. Universal Index.
The fund seeks to outperform the Bloomberg U.S. Universal Index by actively selecting investment-grade and high-yield debt obligations across government, corporate, and mortgage-backed sectors, positioning along the yield curve, allocating across sectors, and choosing individual securities it believes offer superior value while maintaining portfolio duration near the benchmark's. Because security selection drives outperformance, the fund's returns depend on whether those picks succeed relative to the index.
| Share class | Expense ratio |
|---|---|
| BCOIX | 0.30% |
| BCOSX | 0.55% |
Portfolio turnover 32.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 71.13% |
| Securitized | 26.30% |
| Cash & short-term | 2.50% |
Latest quarter
What changed since the fund's previous filing
Largest new: US TREASURY N/B ×2, Onslow Bay Financial LLC, Bank5, BEACON POINT DC LLC, Verus Securitization Trust, BMO Mortgage Trust, Freddie Mac
Largest exited: US TREASURY N/B ×2, Home Partners of America Trust, ABN AMRO BANK NV, NGPL PIPECO LLC, PFS Financing Corp., Ford Credit Floorplan Master O, LINCOLN NATIONAL CORP
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.56% | +13.70% | +4.08% | 3.29% | -5.30% | |
| +4.27% | +12.81% | +2.75% | 3.34% | -5.44% |
These classes hold the same portfolio, so the 1.32pp spread over 5 years is the cost difference between them — roughly 0.26pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are 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 2026-06-30
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 | 82.2% |
| Floating rate | 17.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.9% |
| 1-3y | 14.6% |
| 3-5y | 16.3% |
| 5-10y | 20.7% |
| 10y+ | 46.5% |
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 | +5.38 yr |
| High yield | +0.11 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 | 0.09 yr | 2% |
| 1 yr | 0.47 yr | 8% |
| 5 yr | 1.19 yr | 21% |
| 10 yr | 2.17 yr | 38% |
| 30 yr | 1.73 yr | 31% |
| 3 mo | 0.08 yr | 2% |
| 1 yr | 0.46 yr | 8% |
| 5 yr | 1.18 yr | 21% |
| 10 yr | 2.09 yr | 38% |
| 30 yr | 1.67 yr | 30% |
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 | +0.09 | +0.07 | +0.02 | $302.6k | $88.2k |
| 1 yr | +0.47 | +0.43 | +0.04 | $1.97m | $168.1k |
| 5 yr | +1.19 | +1.14 | +0.04 | $5.27m | $171.9k |
| 10 yr | +2.17 | +2.08 | +0.02 | $9.60m | $71.4k |
| 30 yr | +1.73 | +1.66 | +0.00 | $7.69m | $11.3k |
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 |
|---|---|---|---|---|
| — | First American Government Obli | 2.50% | $1.16B | — |
| — | US TREASURY N/B1.13% · due 2040-08-15 | 1.40% | $646.93M | — |
| — | US TREASURY N/B3.38% · due 2033-05-15 | 1.35% | $623.22M | — |
| — | US TREASURY N/B4.25% · due 2054-02-15 | 1.31% | $606.27M | — |
| — | US TREASURY N/B3.50% · due 2029-03-15 | 1.18% | $543.54M | — |
| — | US TREASURY N/B3.38% · due 2042-08-15 | 1.15% | $533.09M | — |
| — | US TREASURY N/B3.88% · due 2043-05-15 | 1.14% | $526.06M | — |
| — | US TREASURY N/B2.88% · due 2043-05-15 | 1.12% | $516.70M | — |
| — | US TREASURY N/B4.25% · due 2033-03-31 | 1.05% | $486.40M | — |
| — | US TREASURY N/B4.63% · due 2045-11-15 | 1.04% | $479.25M | — |
Top 10 positions are 13.24% of net assets, top 25 23.94%, across 757 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.
Sign in free