Baron Discovery Fund (BDFIX)

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The chart shows the growth of an initial investment of $10,000 in Baron Discovery Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Baron Discovery Fund (BDFIX) has returned -13.78% so far this year and 1.96% over the past 12 months. Looking at the last ten years, BDFIX has achieved an annualized return of 12.88%, outperforming the S&P 500 Index benchmark, which averaged 12.16% per year.

Based on dividend-adjusted daily data since Oct 3, 2013, BDFIX's average daily return is +0.05%, while the average monthly return is +1.09%. At this rate, your investment would double in approximately 5.3 years.

Historically, 61% of months were positive and 39% were negative. The best month was May 2020 with a return of +15.6%, while the worst month was Mar 2020 at -18.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.

On a daily basis, BDFIX closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +11.2%, while the worst single day was Mar 16, 2020 at -13.8%.

Baron Discovery Fund has an annualized alpha of -0.48%, beta of 1.14, and R² of 0.68 versus S&P 500 Index. Calculated based on daily prices since October 04, 2013.

• This fund participated in 117.18% of S&P 500 Index downside but only 115.71% of its upside — more exposed to losses than it benefited from rallies.
• With beta of 1.14 and R² of 0.68, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

BDFIX has a high expense ratio of 1.05%, indicating above-average management fees.

BDFIX ranks 6 for risk / return — in the bottom 6% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for Baron Discovery Fund (BDFIX) and compare them to a chosen benchmark (S&P 500 Index).

Baron Discovery Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.

The table displays the monthly dividend distributions for Baron Discovery Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Baron Discovery Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Baron Discovery Fund was 46.39%, occurring on Jun 16, 2022. The portfolio has not yet recovered.

The current Baron Discovery Fund drawdown is 21.60%.

The chart below shows the rolling one-month volatility.