Baird Short-Term Municipal Bond Fund Investor Class 

This fund generally dedicates at least 80% of its net assets to municipal bonds and debentures, aiming for income that is exempt from federal income tax, including the alternative minimum tax (AMT). It seeks a broadly diversified portfolio of these federally tax-exempt municipal obligations, which are issued by governmental authorities throughout the U.S. and its territories. The fund's investment universe covers all types of municipal obligations, such as pre-refunded bonds, general obligation bonds, revenue bonds, and municipal lease participations.