Overview


The Fund is managed through a duration-neutral, risk-controlled approach with a strong emphasis on the long-term perspective. The investment objective of 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 Bond Index. The Fund normally invests at least 80% of its net assets in the following types of U.S. dollar-denominated debt securities: 

  • U.S. government and other public sector entities
  • Asset-backed and mortgage-backed obligations of U.S. and foreign issuers
  • Corporate debt of U.S. and foreign issuers

The Fund only invests in debt securities rated investment-grade at the time of purchase.

Performance

ALL DATA AS OF 9/30/2021
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception
Intermediate Bond Fund -0.58 0.01 -0.82 -0.02 4.95 2.93 3.15 4.67
Bloomberg Intermediate U.S. Government/Credit Bond Index -0.57 0.02 -0.87 -0.40 4.63 2.60 2.52 4.23
  • Disclosure

    Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment in the fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The funds' current performance may be lower or higher than the performance data quoted.

    The Fund may invest in mortgage- and asset-backed securities which may be subject to prepayment risk and thus may be more sensitive to interest rate changes than other types of debt securities. The Fund may also invest in U.S. dollar-denominated securities issued by foreign issuers which involve additional risks including political and economic instability, differences in financial reporting standards and less regulated securities markets. While the U.S. government has historically provided financial support to various U.S. government-sponsored agencies, no assurance can be given that it will do so in the future if it is not obligated by law. A bond's market value may be affected significantly by changes in interest rates – generally, when interest rates rise, the bond's market value declines and when interest rates decline, its market value rises ("interest rate risk").

    The Bloomberg Intermediate Government/Credit Index is a combination of the Government Index, which measures government-bond general and Treasury funds, and the Credit Bond Index, which is a market value-weighted index that tracks the returns of all publicly issued, fixed-rate, nonconvertible, dollar-denominated, SEC-registered, investment-grade Corporate Debt with maturities between one and ten years. Indices are unmanaged and are not available for direct investment.

    Time periods greater than one year are annualized.

Morningstar Rankings

ALL DATA AS OF 9/30/2021
Category Overall 3 Year 5 Year 10 Year
Intermediate Bond Fund Short-Term Bond
(550 funds)
(550 funds)
(485 funds)
(318 funds)
  • Disclosure

    The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product 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. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all three rating periods.

    © 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Distributions

Income Record Date Reinvest Date Payable Date Reinvest Price
0.01359432 9/23/2021 9/24/2021 9/27/2021 11.47
0.01334735 8/24/2021 8/25/2021 8/26/2021 11.52
0.01483727 7/26/2021 7/27/2021 7/28/2021 11.57
0.01469659 6/24/2021 6/25/2021 6/28/2021 11.48
0.01539238 5/24/2021 5/25/2021 5/26/2021 11.51
0.01493119 4/23/2021 4/26/2021 4/27/2021 11.48
0.01486999 3/24/2021 3/25/2021 3/26/2021 11.46
0.01766027 2/24/2021 2/25/2021 2/26/2021 11.49
0.01431263 1/25/2021 1/26/2021 1/27/2021 11.66

Portfolio Characteristics

ALL DATA AS OF 9/30/2021
Quality Profile Fund Index
U.S. Treasury 43.5% 60.2%
U.S. Agency 2.2% 2.4%
AAA 10.3% 3.7%
AA 4.2% 3.1%
A 14.7% 14.0%
BBB 24.2% 16.5%
Below BBB 0.9% 0.0%
Not Rated 0.0% 0.0%
  • Disclosure

    The quality profile is calculated on a market value-weighted basis. Per the Baird Funds prospectus, each security in the Fund is assigned the highest credit quality rating provided by a nationally recognized statistical rating organization (e.g. S&P, Moody’s, Fitch). For pre-refunded securities, the reported credit quality reflects the highest reported rating from S&P, Moody’s or Fitch for the underlying collateral. Per the Bloomberg index controlling rating methodology, each security in the index is assigned a rating using S&P, Moody’s, and Fitch (middle of three ratings, lower of two ratings, or singular rating if rated by one rating agency). Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).

    Totals sum based on unrounded data. Breakouts are shown rounded to the nearest tenth and may not visually sum.