BIAEX Performance — Brown Advisory Tax-Exempt Bond Fund, Investor Shares
Data updated: 2026-09-11
BIAEX returned +2.10% year to date and +7.03% over one year to Jun 2026. Annualised returns are +4.60% over 3 years and +1.56% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $114, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 4.51% a year. In the 12 months to Jun 2026 the fund took in a net $245.6M, and assets reached $1.30B.
BIAEX Growth of $100
What $100 invested in Brown Advisory Tax-Exempt Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | BIAEX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $107 | $106 |
| 3 years (Jul 2023 – Jun 2026) | $114 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $108 | $105 |
| Since data start (Jul 2019 – Jun 2026) | $117 | $112 |
BIAEX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.10% |
| 1 year | +7.03% |
| 3 years (annualised) | +4.60% |
| 5 years (annualised) | +1.56% |
BIAEX Annual Returns
Calendar-year total returns of Brown Advisory Tax-Exempt Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.10% |
| 2025 | +5.48% |
| 2024 | +2.39% |
| 2023 | +7.16% |
| 2022 | −8.88% |
| 2021 | +2.79% |
| 2020 | +3.42% |
| 2019 (Jul–Dec) | +2.40% |
BIAEX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | +1.2% | −2.2% | +1.1% | +0.5% | +0.6% | — | — | — | — | — | — |
| 2025 | +0.4% | +1.1% | −1.6% | −0.4% | +0.2% | +0.9% | +0.1% | +0.9% | +1.9% | +1.3% | +0.3% | +0.2% |
| 2024 | −0.3% | +0.2% | +0.2% | −0.9% | −0.2% | +1.8% | +0.8% | +0.7% | +1.1% | −1.3% | +1.5% | −1.1% |
| 2023 | +2.3% | −1.2% | +1.5% | +0.2% | −0.1% | +0.5% | +0.4% | −0.7% | −1.7% | −1.2% | +4.6% | +2.5% |
| 2022 | −2.6% | −0.7% | −3.1% | −2.5% | +1.2% | −1.8% | +2.4% | −1.8% | −3.0% | −0.8% | +3.5% | +0.1% |
| 2021 | +1.0% | −1.3% | +0.7% | +0.9% | +0.7% | +0.5% | +0.8% | −0.4% | −0.7% | −0.3% | +0.8% | +0.2% |
| 2020 | +1.9% | +1.7% | −6.6% | −2.0% | +2.8% | +1.7% | +1.6% | −0.1% | −0.2% | −0.2% | +1.9% | +1.1% |
| 2019 | — | — | — | — | — | — | +0.7% | +1.6% | −0.4% | 0.0% | +0.2% | +0.3% |
BIAEX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 4.51%
- 3-year Sharpe ratio: 0.02 (vs 4.5% risk-free rate)
- Best month: +4.64% (Nov 2023)
- Worst month: −2.19% (Mar 2026)
BIAEX Fund Flows
Monthly money in and out of Brown Advisory Tax-Exempt Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $245.6M
- 12-month gross sales (incl. reinvestments): $450.7M
- Sales ÷ redemptions: 2.20×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $26.4M | $19.3M | $7.1M |
| May 2026 | $35.1M | $16.3M | $18.8M |
| Apr 2026 | $32.0M | $19.1M | $12.8M |
| Mar 2026 | $36.7M | $12.1M | $24.6M |
| Feb 2026 | $46.2M | $8.9M | $37.4M |
| Jan 2026 | $62.8M | $15.7M | $47.1M |
| Dec 2025 | $42.4M | $13.1M | $29.3M |
| Nov 2025 | $44.8M | $16.5M | $28.3M |
| Oct 2025 | $34.9M | $19.5M | $15.4M |
| Sep 2025 | $35.9M | $25.9M | $10.0M |
| Aug 2025 | $27.3M | $12.9M | $14.3M |
| Jul 2025 | $26.3M | $25.9M | $320K |
BIAEX Assets Under Management
Net assets of Brown Advisory Tax-Exempt Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.30B |
| 2026-03-31 | $1.24B |
| 2025-12-31 | $1.15B |
| 2025-09-30 | $1.06B |
| 2025-06-30 | $1.02B |
| 2025-03-31 | $1.05B |
| 2024-12-31 | $1.03B |
| 2024-09-30 | $1.02B |
| 2024-06-30 | $917.83M |
| 2024-03-31 | $888.88M |
| 2023-12-31 | $857.67M |
| 2023-09-30 | $797.77M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.