Morningstar

Baird Core Intermediate Municipal Bond Fund Institutional Class BMNIX

Morningstar Medalist Rating
Medalist Rating as of | See Baird Investment Hub
  • NAV / 1-Day Return 9.91  /  +0.61 %
  • Total Assets 6.7B
  • Adj. Expense Ratio
    0.300%
  • Expense Ratio 0.300%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Muni National Interm
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Min. Initial Investment 10,000
  • Status Open
  • TTM Yield 3.70%
  • Effective Duration 4.93 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 2:15 AM GMT+0

Morningstar’s Analysis BMNIX

Will BMNIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable BMNIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the BMNIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of BMNIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

As steady as they come.

Senior Analyst Max Curtin

Max Curtin

Senior Analyst

Summary

Baird Core Intermediate Municipal Bond’s seasoned team and measured approach make for a great combination. A decade after starting up this franchise, Baird has earned its place among the top municipal-bond managers.

by Max Curtin
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings BMNIX

More BMNIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 4.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Notes 4%

1.11 76M
Government

CALIFORNIA MUN FIN AUTH REV 5%

0.39 27M
municipal

TENNESSEE ENERGY ACQUISITION CORP GAS REV 5%

0.39 26M
municipal

PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 3.25%

0.39 26M
municipal

PUBLIC FIN AUTH WIS REV 4%

0.38 26M
municipal

United States Treasury Notes 3.75%

0.36 25M
Government

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

0.33 23M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.30 21M
municipal

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

0.30 20M
municipal

United States Treasury Notes 4.13%

0.29 20M
Government

Sponsor Center