Fund Evaluator:
Baird Ultra Short Bond Investor (BUBSX)
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Fund Details
Baird Ultra Short Bond Investor Overview
Baird Ultra Short Bond Investor (BUBSX) is an actively managed Taxable Bond Ultrashort Bond fund. Baird launched the fund in 2013.
The investment seeks current income consistent with preservation of capital. The fund normally invests at least 80% of its net assets in bonds, including the following types of U.S. dollar‑denominated debt obligations: 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; money market instruments. It invests primarily in investment‑grade debt obligations, rated at the time of purchase by at least one major rating agency, but may invest up to 10% of its net assets in high yield bonds.
About Baird Ultra Short Bond Investor (BUBSX)
There are 10 members of the management team with an average tenure of 8.59 years: Jeffrey Schrom (2019), Charles Groeschell (2013), Jay Schwister (2019), Meghan Dean (2019), Abhishek Pulakanti (2022), Andrew O'Connell (2022), Mary Ellen Stanek (2013), Patrick Brown (2021), Warren Pierson (2013), M. Sharon deGuzman (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg Short-term Gov/Corp TR USD index with a weighting of 100%. Baird Ultra Short Bond Investor has 382 securities in its portfolio. The top 10 holdings constitute 25.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Baird Ultra Short Bond Investor is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Baird Ultra Short Bond Investor has 11.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 78.8% (67.0% domestic bond, 11.8% foreign bond and 0.0% convertible bond). Baird Ultra Short Bond Investor has 21.2% of the portfolio in cash.
Assets Under Management
The fund has $83 million in total assets, which is below the $950 million average for the Ultrashort Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BUBSX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Baird Ultra Short Bond Investor expense ratio is average compared to funds in the Ultrashort Bond category. Baird Ultra Short Bond Investor has an expense ratio of 0.40%, which is 11% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Baird Ultra Short Bond Investor has a portfolio turnover rate of 88%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Ultrashort Bond category.
Recently, in the month of July 2026, Baird Ultra Short Bond Investor returned 0.3%, which earned it a grade of C, as the Ultrashort Bond category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Baird Ultra Short Bond Investor has a trailing yield of 3.95%, which is below the 4.21% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Baird Ultra Short Bond Investor Grades
Year to date, the fund has returned 2.0%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 4.0% over the past year (grade of D), 4.9% over the past three years (grade of D) and 3.6% per year over the past five years (grade of D) and 2.5% per year over the past 10 years (grade of D).
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BUBSX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BUBSX Return (NAV) | 0.3% | 0.9% | 4.0% | 4.9% | 3.6% | 2.5% |
| BUBSX Grade | C | B | D | D | D | D |
| +/- Category | 0.0% | 0.0% | -0.1% | -0.3% | -0.1% | -0.1% |
| Ultrashort Bond Avg | 0.3% | 0.9% | 4.1% | 5.2% | 3.6% | 2.7% |
| BUBSX Tax Cost Ratio | na | na | 1.6% | 1.8% | 1.4% | 1.0% |
BUBSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BUBSX Return (NAV) | 2.0% | 4.5% | 5.5% | 5.4% | 0.7% | -0.1% | 1.7% | 2.9% | 1.6% | 1.0% | 1.3% |
| BUBSX Grade | C | D | D | D | B | D | C | D | D | F | C |
| +/- Category | -0.0% | -0.3% | -0.4% | -0.5% | 0.9% | -0.2% | 0.1% | -0.2% | -0.1% | -0.5% | -0.2% |
| Ultrashort Bond Avg | 2.1% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.4% |
| Total Risk Index: | 0.03 - Low |
| Category Risk Index: | 0.67 - Below Average |
| Category Risk Grade: | B (21% Rank) |
| Beta: | 0.04 |
| R-Squared: | 53% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.0% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $9437 Mil |
| Fund Total Assets: | $ 84 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 88% |
Management Team
| Number of Managers: 10 | |||
| Longest Tenure: 12.6 years | |||
| Average Tenure: 8.6 years | |||
| Managers (Year): Groeschell Charles (2013), Stanek Mary Ellen (2013), Pierson Warren (2013), deGuzman M. Sharon (2013), Schwister Jay (2019), Dean Meghan (2019), Schrom Jeffrey (2019), Brown Patrick (2021), Pulakanti Abhishek (2022), O'Connell Andrew (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 382 |
| % in Top 10 Holdings: | 25.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 67.0% |
| Foreign Bond: | 11.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 21.2% |
Purchase Information
| Fund Family: | Baird |
| Phone Number: | 866-442-2473 |
| Website: | www.bairdfunds.com |
| Status: | Open |
| Inception Date: | December 31, 2013 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.40% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.45% |
| Share Class: | Baird Ultra Short Bond Institutional |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
