ACV vs. BWBIX

Last updated Jun 17, 2026

ACV (Virtus Diversified Income & Convertible Fund) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, ACV returned 10.32%/yr vs 5.19%/yr for BWBIX. A 0.64 correlation means they provide meaningful diversification when combined. ACV charges 2.69%/yr vs 0.05%/yr for BWBIX.

Performance

ACV vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Diversified Income & Convertible Fund (ACV) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACV achieves a 11.06% return, which is significantly higher than BWBIX's 6.59% return.

ACV

• 1D: 0.04%
• 1M: 4.88%
• YTD: 11.06%
• 6M: 15.40%
• 1Y: 41.09%
• 3Y*: 24.41%
• 5Y*: 10.32%
• 10Y*: 17.06%

BWBIX

• 1D: 3.03%
• 1M: 10.72%
• YTD: 6.59%
• 6M: 6.39%
• 1Y: 17.61%
• 3Y*: 14.69%
• 5Y*: 5.19%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACV vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ACV Virtus Diversified Income & Convertible Fund	11.06%	33.70%	15.39%	25.96%	-35.98%	24.45%	45.80%	44.15%	-16.50%
BWBIX Baron WealthBuilder Fund	6.59%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between ACV and BWBIX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since May 21, 2018	0.64

The correlation between ACV and BWBIX shifts across timeframes, from 0.45 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ACV vs. BWBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACV

ACV Risk / Return Rank: 70
ACV Sharpe Ratio Rank: 81
ACV Sortino Ratio Rank: 69
ACV Omega Ratio Rank: 75
ACV Calmar Ratio Rank: 63
ACV Martin Ratio Rank: 60

BWBIX

BWBIX Risk / Return Rank: 25
BWBIX Sharpe Ratio Rank: 24
BWBIX Sortino Ratio Rank: 29
BWBIX Omega Ratio Rank: 25
BWBIX Calmar Ratio Rank: 24
BWBIX Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACV vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Diversified Income & Convertible Fund (ACV) and Baron WealthBuilder Fund (BWBIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ACV	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.25	+1.15
Sortino ratio: Return per unit of downside risk	3.05	1.98	+1.07
Omega ratio: Gain probability vs. loss probability	1.43	1.23	+0.20
Calmar ratio: Return relative to maximum drawdown	2.79	1.63	+1.16
Martin ratio: Return relative to average drawdown	10.69	5.35	+5.34

ACV vs. BWBIX - Sharpe Ratio Comparison

The current ACV Sharpe Ratio is 2.39, which is higher than the BWBIX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of ACV and BWBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACV vs. BWBIX - Drawdown Comparison

The maximum ACV drawdown since its inception was -53.64%, which is greater than BWBIX's maximum drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for ACV and BWBIX.

Drawdown Indicators

	ACV	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.64%	-39.14%	-14.50%
Max Drawdown (1Y) Largest decline over 1 year	-14.81%	-11.65%	-3.16%
Max Drawdown (3Y) Largest decline over 3 years	-23.46%	-21.59%	-1.87%
Max Drawdown (5Y) Largest decline over 5 years	-48.80%	-39.14%	-9.66%
Max Drawdown (10Y) Largest decline over 10 years	-53.64%	—	—
Current Drawdown Current decline from peak	-0.86%	0.00%	-0.86%
Average Drawdown Average peak-to-trough decline	-14.82%	-11.67%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	3.54%	+0.31%

Volatility

ACV vs. BWBIX - Volatility Comparison

Virtus Diversified Income & Convertible Fund (ACV) has a higher volatility of 8.12% compared to Baron WealthBuilder Fund (BWBIX) at 6.02%. This indicates that ACV's price experiences larger fluctuations and is considered to be riskier than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACV	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.12%	6.02%	+2.10%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	11.07%	+3.78%
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	15.26%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.64%	21.19%	+2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.87%	23.16%	+2.71%

ACV vs. BWBIX - Expense Ratio Comparison

ACV has a 2.69% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

ACV vs. BWBIX - Dividend Comparison

ACV's dividend yield for the trailing twelve months is around 9.07%, more than BWBIX's 7.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACV Virtus Diversified Income & Convertible Fund	9.07%	9.68%	9.84%	10.30%	12.69%	24.19%	7.28%	8.15%	10.76%	9.18%	10.67%	5.52%
BWBIX Baron WealthBuilder Fund	7.14%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACV and BWBIX in my portfolio?

ACV and BWBIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACV or BWBIX?

ACV has higher volatility (8.12%) compared to BWBIX (6.02%). In terms of maximum drawdown, ACV dropped -53.64% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

ACV currently has the higher Sharpe Ratio (2.39 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.