BMDSX Fees and Costs — Baird Mid Cap Growth Fund, Investor Class
Data updated: 2026-08-14
The net expense ratio is 1.10%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.11% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $692K in broker commissions, 0.0489% of average net assets, and portfolio turnover was 63%.
BMDSX Fees and Expenses
Annual operating expenses and sales charges of BMDSX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.11% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.10% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
BMDSX Costs Over Time
On $10,000 invested in BMDSX, assuming 5% a year before costs, total costs come to $717 over 5 years, cutting the return by 1.21% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $121 | $394 | $717 |
| Value after costs | $10,379 | $11,182 | $12,046 |
| Impact on return, per year | 1.21% | 1.21% | 1.21% |
BMDSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0489%
- Total broker commissions: $692K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
BMDSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WILLIAM BLAIR & COMPANY L.L.C. | $147K | 22.93% |
| PERSHING LLC | $124K | 19.24% |
| WELLS FARGO SECURITIES LLC | $68K | 10.60% |
| RAYMOND JAMES & ASSOCIATES INC. | $66K | 10.21% |
| JEFFERIES LLC | $54K | 8.44% |
| STIFEL NICOLAUS & COMPANY INCORPORATED | $47K | 7.31% |
| RBC CAPITAL MARKETS LLC | $37K | 5.74% |
| BNY MELLON CAPITAL MARKETS LLC | $35K | 5.39% |
| NATIONAL FINANCIAL SERVICES LLC | $34K | 5.23% |
| BARCLAYS CAPITAL INC. | $32K | 4.91% |
Baird Mid Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BMDIX | Institutional Class | 0.85% | — |
| BMDSX | Investor Class | 1.10% | — |
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.