ALMRX vs. BARAX
Compare and contrast key facts about Alger MidCap Growth Institutional Fund (ALMRX) and Baron Asset Fund (BARAX).
ALMRX is managed by Alger. It was launched on Nov 8, 1993. BARAX is managed by Baron Capital Group, Inc.. It was launched on Jun 12, 1987.
Performance
ALMRX vs. BARAX - Performance Comparison
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ALMRX vs. BARAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALMRX Alger MidCap Growth Institutional Fund | -7.99% | 17.01% | 20.02% | 22.68% | -35.28% | 6.17% | 64.25% | 29.79% | -7.77% | 28.75% |
BARAX Baron Asset Fund | -7.87% | 7.89% | 10.35% | 17.05% | -26.06% | 13.88% | 32.98% | 37.64% | -0.15% | 26.18% |
Returns By Period
The year-to-date returns for both investments are quite close, with ALMRX having a -7.99% return and BARAX slightly higher at -7.87%. Over the past 10 years, ALMRX has outperformed BARAX with an annualized return of 11.42%, while BARAX has yielded a comparatively lower 10.32% annualized return.
ALMRX
- 1D
- 4.18%
- 1M
- -7.14%
- YTD
- -7.99%
- 6M
- -10.17%
- 1Y
- 18.01%
- 3Y*
- 13.20%
- 5Y*
- 0.87%
- 10Y*
- 11.42%
BARAX
- 1D
- 1.64%
- 1M
- -5.84%
- YTD
- -7.87%
- 6M
- -0.37%
- 1Y
- 2.50%
- 3Y*
- 6.84%
- 5Y*
- 1.42%
- 10Y*
- 10.32%
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ALMRX vs. BARAX - Expense Ratio Comparison
ALMRX has a 1.44% expense ratio, which is higher than BARAX's 1.29% expense ratio.
Return for Risk
ALMRX vs. BARAX — Risk / Return Rank
ALMRX
BARAX
ALMRX vs. BARAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger MidCap Growth Institutional Fund (ALMRX) and Baron Asset Fund (BARAX). 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.
| ALMRX | BARAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.13 | +0.66 |
Sortino ratioReturn per unit of downside risk | 1.25 | 0.35 | +0.91 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.04 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.36 | +0.79 |
Martin ratioReturn relative to average drawdown | 3.92 | 0.90 | +3.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALMRX | BARAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.13 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.07 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.52 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.49 | -0.32 |
Correlation
The correlation between ALMRX and BARAX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ALMRX vs. BARAX - Dividend Comparison
ALMRX has not paid dividends to shareholders, while BARAX's dividend yield for the trailing twelve months is around 12.49%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALMRX Alger MidCap Growth Institutional Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 77.91% | 12.19% | 8.56% | 7.91% | 0.00% | 0.00% | 0.00% |
BARAX Baron Asset Fund | 12.49% | 11.51% | 19.23% | 3.48% | 0.01% | 7.65% | 3.05% | 1.78% | 7.42% | 7.25% | 4.88% | 11.50% |
Drawdowns
ALMRX vs. BARAX - Drawdown Comparison
The maximum ALMRX drawdown since its inception was -73.80%, which is greater than BARAX's maximum drawdown of -59.71%. Use the drawdown chart below to compare losses from any high point for ALMRX and BARAX.
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Drawdown Indicators
| ALMRX | BARAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.80% | -59.71% | -14.09% |
Max Drawdown (1Y)Largest decline over 1 year | -16.06% | -11.12% | -4.94% |
Max Drawdown (5Y)Largest decline over 5 years | -64.01% | -37.53% | -26.48% |
Max Drawdown (10Y)Largest decline over 10 years | -64.01% | -37.53% | -26.48% |
Current DrawdownCurrent decline from peak | -40.58% | -9.28% | -31.30% |
Average DrawdownAverage peak-to-trough decline | -22.14% | -11.44% | -10.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 4.44% | +0.28% |
Volatility
ALMRX vs. BARAX - Volatility Comparison
Alger MidCap Growth Institutional Fund (ALMRX) has a higher volatility of 7.91% compared to Baron Asset Fund (BARAX) at 3.90%. This indicates that ALMRX's price experiences larger fluctuations and is considered to be riskier than BARAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALMRX | BARAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.91% | 3.90% | +4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.99% | 11.83% | +3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.51% | 19.02% | +5.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.59% | 19.56% | +29.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.73% | 19.79% | +17.94% |