- CUSIP
- 06828M801
- Issuer
- Baron Capital
- Inception Date
- Dec 31, 2009
- Category
- REIT
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
BREFX Performance Chart
Baron Real Estate Fund Retail Shares (BREFX) is up 3.9% since the beginning of the year. BREFX is currently trading at $41 per share. Investors who bought $1,000 worth of BREFX shares 5 years ago would now be looking at an investment worth $1,179.
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Returns By Period
Baron Real Estate Fund Retail Shares (BREFX) has returned 3.88% so far this year and 15.71% over the past 12 months. Over the last ten years, BREFX has returned 11.14% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Baron Real Estate Fund Retail Shares
- 1D
- 1.59%
- 1M
- 4.36%
- YTD
- 3.88%
- 6M
- 2.56%
- 1Y
- 15.71%
- 3Y*
- 10.88%
- 5Y*
- 3.34%
- 10Y*
- 11.14%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BREFX Monthly Returns History
Based on dividend-adjusted daily data since Dec 31, 2009, BREFX's average daily return is +0.06%, while the average monthly return is +1.14%. At this rate, an investment would double in approximately 5.1 years.
Historically, 61% of months were positive and 39% were negative. The best month was Oct 2011 with a return of +14.8%, while the worst month was Mar 2020 at -15.1%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BREFX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +11.3%, while the worst single day was Mar 16, 2020 at -15.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.32% | 0.58% | -7.22% | 7.63% | -1.37% | 3.52% | 3.88% | ||||||
| 2025 | 2.24% | -1.11% | -7.78% | -2.21% | 2.12% | 3.70% | 5.59% | 5.20% | -0.79% | -2.98% | 3.12% | -1.45% | 4.91% |
| 2024 | -2.59% | 7.07% | 3.78% | -10.06% | 2.19% | -1.27% | 9.71% | 1.68% | 5.62% | -1.17% | 6.28% | -7.70% | 12.19% |
| 2023 | 12.42% | -3.61% | -1.26% | 2.58% | -3.92% | 8.88% | 3.13% | -3.03% | -8.22% | -5.48% | 12.50% | 11.28% | 24.70% |
| 2022 | -8.47% | -0.76% | -1.78% | -7.19% | -4.26% | -10.75% | 10.54% | -5.24% | -9.21% | 5.37% | 6.36% | -5.33% | -28.62% |
| 2021 | 0.68% | 10.30% | -0.03% | 5.50% | -0.12% | -0.75% | -1.64% | 3.13% | -3.10% | 5.67% | -5.34% | 8.70% | 24.09% |
Benchmark Metrics
Baron Real Estate Fund Retail Shares has an annualized alpha of 0.73%, beta of 1.02, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since December 31, 2009.
- This fund captured 111.32% of S&P 500 Index gains and 110.38% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.02 and R2 of 0.76, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.73%
- Beta
- 1.02
- R²
- 0.76
- Upside Capture
- 111.32%
- Downside Capture
- 110.38%
Expense Ratio
BREFX has a high expense ratio of 1.31%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BREFX ranks 14 for risk / return — in the bottom 14% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Baron Real Estate Fund Retail Shares (BREFX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BREFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.37 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 2.78 | -1.52 |
| Martin ratioReturn relative to average drawdown | 3.58 | 12.44 | -8.86 |
Dividends
Dividend History
Baron Real Estate Fund Retail Shares provided a 3.51% dividend yield over the last twelve months, with an annual payout of $1.44 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.44 | $1.44 | $0.06 | $0.02 | $0.82 | $3.29 | $2.21 | $3.64 | $2.50 | $1.41 | $0.08 | $0.48 |
Dividend yield | 3.51% | 3.64% | 0.16% | 0.06% | 2.94% | 8.17% | 6.27% | 13.89% | 12.04% | 4.77% | 0.35% | 1.98% |
Monthly Dividends
The table displays the monthly dividend distributions for Baron Real Estate Fund Retail Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.82 | $0.00 | $0.00 | $0.62 | $1.44 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.06 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.02 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.80 | $0.00 | $0.00 | $0.02 | $0.82 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.03 | $0.00 | $2.26 | $0.00 | $3.29 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Baron Real Estate Fund Retail Shares. 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 Real Estate Fund Retail Shares was 38.52%, occurring on Mar 23, 2020. Recovery took 53 trading sessions.
The current Baron Real Estate Fund Retail Shares drawdown is 1.45%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -38.52%Mar 2020 | 1mo 1d | 2mo 17d | 3mo 18dFeb 2020 - Jun 2020 |
Bear market2022 | -34.05%Oct 2022 | 9mo 20d | 1y 11mo | 2y 8moJan 2022 - Sep 2024 |
Rate-hike selloffLate 2018 | -29.53%Dec 2018 | 10mo 29d | 10mo 5d | 1y 8moJan 2018 - Oct 2019 |
2016 bear market2016 | -28.45%Feb 2016 | 10mo 25d | 1y 2mo | 2y 1moMar 2015 - May 2017 |
2011 bear market2011 | -27.07%Oct 2011 | 2mo 10d | 4mo 16d | 6mo 26dJul 2011 - Feb 2012 |
Drawdown Indicators
| BREFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.52% | -56.78% | +18.26% |
Max Drawdown (1Y)Largest decline over 1 year | -12.60% | -9.10% | -3.50% |
Max Drawdown (3Y)Largest decline over 3 years | -23.98% | -18.90% | -5.08% |
Max Drawdown (5Y)Largest decline over 5 years | -34.05% | -25.43% | -8.62% |
Max Drawdown (10Y)Largest decline over 10 years | -38.52% | -33.92% | -4.60% |
Current DrawdownCurrent decline from peak | -1.45% | -1.80% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -7.68% | -10.71% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 2.03% | +2.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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