BSNSX Fees and Costs — Baird Strategic Municipal Bond Fund, Investor Class
Data updated: 2026-08-14
The net expense ratio is 0.55%: a 0.25% management fee, a 0.25% 12b-1 fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 21%.
BSNSX Fees and Expenses
Annual operating expenses and sales charges of BSNSX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BSNSX Costs Over Time
On $10,000 invested in BSNSX, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
BSNSX 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): 0.0001%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 21%
- Securities lending: none during the year
BSNSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $2K | 100.00% |
BSNSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $184.7M | 14.07% |
| MORGAN STANLEY & CO. LLC | $173.2M | 13.20% |
| STIFEL NICOLAUS & COMPANY INCORPORATED | $168.2M | 12.81% |
| WELLS FARGO SECURITIES LLC | $152.8M | 11.63% |
| RBC CAPITAL MARKETS LLC | $128.5M | 9.79% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $127.6M | 9.72% |
| JEFFERIES LLC | $108.9M | 8.30% |
| BARCLAYS CAPITAL INC. | $99.0M | 7.54% |
| TRUIST SECURITIES INC. | $87.9M | 6.69% |
| MESIROW FINANCIAL INC. | $82.1M | 6.25% |
Baird Strategic Municipal Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BSNIX | Institutional Class | 0.30% | — |
| BSNSX | Investor Class | 0.55% | — |
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.