BMBIX
Quality Intermediate Municipal Bond Fund
inception date
3/30/2001
cusip
057071607
total fund aum (millions)
$1,053.60
As of 6/30/2024
gross/net expense ratio %
0.30/0.30
morningstar category
Muni National Intermediate
Overview
The Fund invests in a broadly diversified portfolio of federally tax-exempt municipal obligations. The Fund normally invests at least 80% of its net assets in municipal bonds and may invest in all types including pre-refunded bonds, general obligation bonds, revenue bonds, municipal lease participations and zero coupon bonds. Baird uses a value-oriented strategy and looks for undervalued municipal securities that offer above-average return characteristics. Market factors evaluated when selecting investments include:
- the nominal level and trend in interest rates
- the slope of the municipal yield curve
- income tax rates
- market sector valuations
- credit trends
- supply and demand flows
- regional economic strength
- legal and regulatory trends
The Fund invests in investment grade debt securities, with a focus on those generally rated AA- or better, at the time of purchase.
Performance
ALL DATA AS OF 6/30/2024
1 Month | 3 Month | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
---|---|---|---|---|---|---|---|---|
Quality Intermediate Municipal Bond Fund | 1.25 | 0.16 | -0.06 | 2.89 | -0.56 | 0.89 | 1.56 | 3.31 |
Bloomberg Quality Intermediate Municipal Index | 1.18 | -0.59 | -1.05 | 2.11 | -0.54 | 0.95 | 1.81 | 3.37 |
Distributions
Time Period
Type | Record Date | Reinvest Date | Payable Date | Amount per Share ($) | Reinvest Price ($) |
---|---|---|---|---|---|
Income | 7/24/2024 | 7/25/2024 | 7/26/2024 | 0.02633838 | 11.03 |
Income | 6/24/2024 | 6/25/2024 | 6/26/2024 | 0.02606657 | 10.99 |
Income | 5/24/2024 | 5/28/2024 | 5/29/2024 | 0.02616865 | 10.88 |
Income | 4/24/2024 | 4/25/2024 | 4/26/2024 | 0.02455289 | 10.91 |
Income | 3/25/2024 | 3/26/2024 | 3/27/2024 | 0.02771478 | 11.03 |
Income | 2/23/2024 | 2/26/2024 | 2/27/2024 | 0.02659041 | 11.06 |
Income | 1/25/2024 | 1/26/2024 | 1/29/2024 | 0.02122099 | 11.04 |
Income | 12/27/2023 | 12/28/2023 | 12/29/2023 | 0.02846655 | 11.13 |
Income | 11/24/2023 | 11/27/2023 | 11/28/2023 | 0.02604214 | 10.87 |
Income | 10/23/2023 | 10/24/2023 | 10/25/2023 | 0.02612045 | 10.59 |
Income | 9/22/2023 | 9/25/2023 | 9/26/2023 | 0.02292662 | 10.70 |
Income | 8/23/2023 | 8/24/2023 | 8/25/2023 | 0.02246362 | 10.84 |
Income | 7/24/2023 | 7/25/2023 | 7/26/2023 | 0.02375504 | 11.00 |
Income | 6/23/2023 | 6/26/2023 | 6/27/2023 | 0.02177247 | 10.97 |
Income | 5/24/2023 | 5/25/2023 | 5/26/2023 | 0.02269903 | 10.87 |
Income | 4/24/2023 | 4/25/2023 | 4/26/2023 | 0.02225611 | 11.04 |
Income | 3/24/2023 | 3/27/2023 | 3/28/2023 | 0.02437797 | 11.07 |
Income | 2/23/2023 | 2/24/2023 | 2/27/2023 | 0.02312879 | 10.91 |
Income | 1/24/2023 | 1/25/2023 | 1/26/2023 | 0.01660103 | 11.14 |
Portfolio Characteristics
ALL DATA AS OF 6/30/2024
Fund Information | Fund | Index |
---|---|---|
*30-Day SEC Yield (%) | 3.32 | N/A |
**Portfolio Avg. Yield to Worst (%) | 3.78 | 3.40 |
Effective Duration (Years) | 4.12 | 4.21 |
Effective Maturity (Years) | 4.48 | 4.68 |
Average Coupon (%) | 3.84 | 4.66 |
Annual Turnover Rate (%) | 24.13 | N/A |
Number of Holdings | 602 | 29,739 |
Average Portfolio Quality | AA+ | AA |
ALL DATA AS OF 6/30/2024
Quality Profile | Fund | Index |
---|---|---|
U.S. Treasury | 0.0% | 0.0% |
U.S. Agency | 0.0% | 0.0% |
AAA | 67.8% | 17.3% |
AA | 31.2% | 58.4% |
A | 1.0% | 24.0% |
BBB | 0.0% | 0.0% |
Below BBB | 0.0% | 0.0% |
Not Rated | 0.0% | 0.0% |