As the chart below shows, mid-cap stocks have outperformed large- and small-cap stocks by a meaningful margin since 1995.
Yet most investors and asset allocation models tend to weight small- and large-cap asset classes more heavily. Baird Equity Asset Management believes these investors are missing out on returns and, in many cases, accepting greater-than-necessary risk.
Strength of Long-Term Performance
Baird MidCap Fund
Performance as of 9/30/2019
For current performance, total annual fund operating expenses, gross of any fee waivers or expense reimbursements, risks and additional information discussing the morningstar ranking, please visit the Baird MidCap Fund Page.
Performance data represents past performance and does not guarantee future results. The investment return and principal value of the investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the data quoted. For performance data to the most recent month end, contact Baird directly at 866-442-2473.
The Morningstar Rating for the Baird MidCap Fund as of 9/30/2019 is as follows: Overall rating is 4 stars out of 544 mid growth funds; 3 year is 5 stars out of 544 mid growth funds; 5 year is 4 stars out of 487 mid growth funds; 10 year is 4 stars out of 375 mid growth funds. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results
The quarter and year-to-date time periods are presented as total returns and the 1-, 3-, 5-,10-year and since inception time periods are presented as average annual returns.
Mid-cap, large-cap and small-cap stocks as defined by the Russell Midcap Index, Russell 1000 Index and Russell 2000 Index, respectively. All data is as of 12/31/2018. The Russell Midcap Index measures the performance of the 800 smallest companies, by market capitalization, in the Russell 1000 Index. The Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index. The Russell 2000 Index consists of the smallest 2,000 companies in the Russell 3000 Index. It is not possible to invest directly in an index. The Russell Indices are a trademark of the Frank Russell Company. Russell is a trademark of the Frank Russell Company.