Description

The Baird Ultra Short Bond Fund Investor Class typically allocates at least 80% of its net assets to fixed-income securities. These holdings predominantly consist of U.S. dollar-denominated debt obligations from a diverse range of issuers. This encompasses debt issued by the U.S. government and various public-sector entities, as well as asset-backed and mortgage-backed securities originating from both domestic and international sources. Additionally, the fund invests in corporate bonds from U.S. and non-U.S. companies, alongside money market instruments. While the fund primarily targets investment-grade debt—requiring a strong credit rating from at least one major agency at the time of acquisition—it retains the flexibility to allocate up to 10% of its net assets to higher-yielding bonds.