Baird Intermediate Bond Fund
Baird Funds Inc · Series S000000755 · 2 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Baird Intermediate 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 Intermediate U.S. Government/Credit Index.
The fund seeks to outperform the Bloomberg Intermediate U.S. Government/Credit Index by selecting investment-grade debt across government, corporate, mortgage-backed, and asset-backed sectors, positioning along the yield curve and across sectors where the advisor identifies relative value, while maintaining portfolio duration close to the benchmark's. Because security selection and sector allocation decisions drive outperformance relative to the index, the fund's returns will diverge from the benchmark based on those choices.
| Share class | Expense ratio |
|---|---|
| BIMIX | 0.30% |
| BIMSX | 0.55% |
Portfolio turnover 39.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 85.84% |
| Securitized | 10.90% |
| Cash & short-term | 2.98% |
Latest quarter
What changed since the fund's previous filing
Largest new: US TREASURY N/B ×2, REGIONS BANKS/BIRMGHM AL, BRAVO Residential Funding Trus, AMERICAN NATIONAL GF, SBA COMMUNICATIONS CORP, Verus Securitization Trust, JEFFERIES FIN GROUP INC
Largest exited: US TREASURY N/B, GEN LUX SARL/GEN USA INC, Ford Credit Auto Owner Trust/F, MUTUAL OF OMAHA GLOBAL, DAIMLER TRUCK FINAN NA, ABN AMRO BANK NV, BUNGE LTD FINANCE CORP, TRITON CONTAINER
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 |
|---|---|---|---|---|---|
| +3.86% | +13.86% | +7.12% | 2.39% | -2.38% | |
| +3.67% | +13.00% | +5.84% | 2.43% | -2.57% |
These classes hold the same portfolio, so the 1.28pp 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 | 83.2% |
| Floating rate | 16.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.5% |
| 1-3y | 27.4% |
| 3-5y | 26.3% |
| 5-10y | 31.8% |
| 10y+ | 11.9% |
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 | 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 | +3.64 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 | 0.06 yr | 2% |
| 1 yr | 0.67 yr | 18% |
| 5 yr | 1.98 yr | 53% |
| 10 yr | 0.99 yr | 27% |
| 30 yr | 0.03 yr | 1% |
| 3 mo | 0.06 yr | 2% |
| 1 yr | 0.66 yr | 18% |
| 5 yr | 1.96 yr | 53% |
| 10 yr | 0.97 yr | 26% |
| 30 yr | 0.02 yr | 1% |
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 | +0.06 | +0.05 | +0.01 | $66.7k | $7.6k |
| 1 yr | +0.67 | +0.66 | +0.00 | $870.4k | $6.5k |
| 5 yr | +1.98 | +1.95 | +0.00 | $2.59m | $6.3k |
| 10 yr | +0.99 | +0.96 | +0.01 | $1.28m | $10.7k |
| 30 yr | +0.03 | +0.02 | +0.00 | $26.7k | $3.4k |
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/B4.63% · due 2035-02-15 | 4.49% | $595.14M | — |
| — | US TREASURY N/B4.63% · due 2029-04-30 | 4.36% | $578.36M | — |
| — | US TREASURY N/B4.38% · due 2030-11-30 | 3.83% | $507.51M | — |
| — | US TREASURY N/B3.88% · due 2029-12-31 | 3.40% | $450.97M | — |
| — | First American Government Obli | 2.98% | $395.09M | — |
| — | US TREASURY N/B4.38% · due 2034-05-15 | 2.50% | $332.13M | — |
| — | US TREASURY N/B3.50% · due 2033-02-15 | 2.34% | $310.87M | — |
| — | US TREASURY N/B3.50% · due 2029-03-15 | 2.27% | $301.29M | — |
| — | US TREASURY N/B4.00% · due 2031-01-31 | 2.21% | $293.63M | — |
| — | US TREASURY N/B4.00% · due 2032-06-30 | 2.12% | $280.80M | — |
Top 10 positions are 30.51% of net assets, top 25 45.04%, across 430 issuers.
See more of this fund's book
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