Baird Short-Term Bond Fd Inv Cl
BSBSX
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- Baird Short-Term Bond Fund Investor Class (BSBSX) is an open-end mutual fund managed by Baird Funds, Inc., that seeks to provide an annual rate of total return, before fund expenses, greater than that of the Bloomberg 1-3 Year U.S. Government/Credit Bond Index through a duration-neutral, risk-controlled investment strategy. The Fund normally invests at least 80% of its net assets in U.S. dollar-denominated, investment-grade debt securities, including obligations of U.S. government and public-sector entities; asset-backed and mortgage-backed securities of U.S. and foreign issuers; and corporate debt of U.S. and foreign issuers, with a dollar-weighted average portfolio effective maturity typically between one and three years. It maintains a diversified portfolio across sectors such as U.S. Treasuries (approximately 35%), industrials, financials, utilities, securitized products including non-agency RMBS, CMBS, and ABS; the Fund's effective duration approximates 1.87 years, with an average coupon of 4.32% and portfolio quality rated A+ on average, as of late 2025. Investor Class shares (BSBSX), launched on September 19, 2012, feature a net expense ratio of 0.55%, no front- or deferred-loads, a minimum initial investment of $2,500 ($1,000 for IRAs), and monthly income distributions; the Institutional Class counterpart (BSBIX), available since August 31, 2004, has a lower expense ratio of 0.30% and $10,000 minimum. Baird Funds, Inc., established as part of Baird Asset Management—a division of Robert W. Baird & Co., headquartered in Milwaukee, Wisconsin—offers BSBSX primarily to U.S. investors through broker-dealers and financial advisors, targeting individuals and institutions seeking short-term bond exposure with mid credit quality and limited interest-rate sensitivity within the Morningstar Short-Term Bond category. The Fund, with total net assets exceeding $11.4 billion as of September 30, 2025, is managed by a seasoned team of portfolio managers including Mary Ellen Stanek, CFA; Warren D. Pierson, CFA; Charles B. Groeschell; and others, employing bottom-up security selection, sector allocation, yield curve positioning, and collaborative cross-sector analysis. In September 2025, Baird announced a strategic partnership with Sagard, a global alternative asset manager, under which Baird acquired a minority equity stake in Sagard and committed to distributing select Sagard alternative investment strategies through its private wealth management network, overseeing $350 billion in client assets, to enhance U.S. wealth channel offerings and product innovation. This alliance marks a key expansion into differentiated alternative solutions amid Baird's ongoing growth initiatives; the Fund itself continues to maintain its core short-term bond focus without reported structural changes, reorganizations, or new share class launches in the past 1-2 years, while sustaining strong performance with a Gold Morningstar Medalist Rating for both share classes and 3-star overall Morningstar Rating for Institutional shares.