Baird Short-Term Bond Fund
Baird Funds Inc · Series S000000757 · 2 share classes
data updated 2026-09-08
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 Q2
| Bonds | 83.64% |
| Securitized | 11.91% |
| Cash & short-term | 4.66% |
Latest quarter
What changed since the fund's previous filing
Largest new: US TREASURY N/B, MIZUHO FINANCIAL GROUP, REGIONS BANKS/BIRMGHM AL, SOCIETE GENERALE, CANADIAN IMPERIAL BANK, BRAVO Residential Funding Trus, MANUF & TRADERS TRUST CO, JEFFERIES FIN GROUP INC
Largest exited: US TREASURY N/B ×2, CANADIAN IMPERIAL BANK, AEGON FUNDING CO LLC, DLLAD LLC, HEXCEL CORP, NATIONWIDE BLDG SOCIETY, Ford Credit Floorplan Master O
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 |
|---|---|---|---|---|---|
| +3.88% | +15.59% | +13.15% | 1.29% | -0.59% | |
| +3.64% | +14.75% | +11.75% | 1.21% | -0.51% |
These classes hold the same portfolio, so the 1.40pp spread over 5 years is the cost difference between them — roughly 0.28pp 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 | 82.5% |
| Floating rate | 17.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.8% |
| 1-3y | 75.6% |
| 3-5y | 8.7% |
| 5-10y | 0.3% |
| 10y+ | 10.6% |
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 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 | +1.76 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 | 0.08 yr | 5% |
| 1 yr | 1.20 yr | 66% |
| 5 yr | 0.53 yr | 29% |
| 10 yr | 0.00 yr | 0% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.08 yr | 4% |
| 1 yr | 1.18 yr | 66% |
| 5 yr | 0.52 yr | 29% |
| 10 yr | 0.00 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 | +0.07 | +0.01 | $86.9k | $11.7k |
| 1 yr | +1.20 | +1.17 | +0.01 | $1.47m | $14.3k |
| 5 yr | +0.53 | +0.51 | +0.01 | $646.0k | $6.4k |
| 10 yr | +0.00 | +0.00 | +0.00 | $3.8k | $120 |
| 30 yr | +0.00 | +0.00 | +0.00 | $421 | $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/B3.63% · due 2028-08-15 | 12.43% | $1.56B | — |
| — | US TREASURY N/B3.50% · due 2028-10-15 | 11.88% | $1.49B | — |
| — | US TREASURY N/B3.50% · due 2029-03-15 | 4.70% | $589.80M | — |
| — | First American Government Obli | 4.59% | $577.20M | — |
| — | US TREASURY N/B3.50% · due 2029-09-30 | 1.12% | $140.73M | — |
| — | MIZUHO FINANCIAL GROUP4.78% floating · due 2030-07-13 | 0.48% | $60.89M | — |
| — | REGIONS BANKS/BIRMGHM AL4.75% floating · due 2029-07-27 | 0.48% | $60.72M | — |
| — | INTL FLAVOR & FRAGRANCES1.83% · due 2027-10-15 | 0.47% | $59.37M | — |
| — | KYNDRYL HOLDINGS INC2.05% · due 2026-10-15 | 0.47% | $58.60M | — |
| — | LKQ CORP5.75% · due 2028-06-15 | 0.44% | $55.16M | — |
Top 10 positions are 37.07% of net assets, top 25 42.77%, across 315 issuers.
See more of this fund's book
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