Navigating Volatility: A Deep Dive into Baird's Growth Funds' Q2 2026 Journey
Q2 2026 Performance Overview: Baird Chautauqua International Growth Fund
During the second quarter of 2026, the Baird Chautauqua International Growth Fund Net Investor Class experienced a return of +10.39%. This performance was below that of its benchmark, the MSCI ACWI ex-U.S. Index® ND, which achieved a return of +14.49% for the same period. This indicates a notable underperformance relative to the broader international market.
Key Influencers: International Fund Detractors and Contributors
The primary factors negatively impacting the International Growth Fund's relative performance were its investments in Alibaba, Lululemon, and Brookfield Renewable. These holdings proved to be the most significant detractors. Conversely, strong positive contributions to the fund's relative performance came from Recruit, ASML, and Keyence, whose performances helped mitigate some of the losses from other holdings.
Q2 2026 Performance Overview: Baird Chautauqua Global Growth Fund
In the same quarter, the Baird Chautauqua Global Growth Fund Net Investor Class posted a return of +12.18%. Similar to its international counterpart, this fund also underperformed its benchmark, the MSCI ACWI Index® ND, which recorded a return of +14.93%. This suggests a challenging quarter across both international and global investment landscapes for Baird's funds.
Key Influencers: Global Fund Detractors and Contributors
The Global Growth Fund's relative underperformance was partly attributed to specific investments that acted as significant detractors. Holdings in Europe, however, provided a positive contribution. The largest negative impacts on relative performance were observed from Regeneron, TJX, and Lululemon. On the other hand, Micron, ASML, and Recruit emerged as the most substantial relative contributors, bolstering the fund's overall returns.
