AMCGX vs. BARIX

Last updated Jun 23, 2026

AMCGX (Alger Mid Cap Growth Fund) and BARIX (Baron Asset Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 10 years, AMCGX returned 8.16%/yr vs 12.48%/yr for BARIX. Their correlation of 0.90 suggests significant overlap in exposure. AMCGX charges 1.93%/yr vs 1.03%/yr for BARIX.

Performance

AMCGX vs. BARIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Mid Cap Growth Fund (AMCGX) and Baron Asset Fund Institutional Class (BARIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMCGX achieves a 8.73% return, which is significantly lower than BARIX's 11.12% return. Over the past 10 years, AMCGX has underperformed BARIX with an annualized return of 8.16%, while BARIX has yielded a comparatively higher 12.48% annualized return.

AMCGX

• 1D: 2.01%
• 1M: 7.68%
• YTD: 8.73%
• 6M: 6.74%
• 1Y: 21.27%
• 3Y*: 17.40%
• 5Y*: -3.93%
• 10Y*: 8.16%

BARIX

• 1D: -1.08%
• 1M: 17.73%
• YTD: 11.12%
• 6M: 9.59%
• 1Y: 17.19%
• 3Y*: 13.21%
• 5Y*: 4.41%
• 10Y*: 12.48%

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

AMCGX vs. BARIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMCGX Alger Mid Cap Growth Fund	8.73%	16.63%	20.10%	22.85%	-35.19%	-29.98%	63.90%	29.63%	-8.03%	27.39%
BARIX Baron Asset Fund Institutional Class	11.12%	8.17%	10.64%	17.36%	-25.87%	14.17%	33.32%	37.98%	0.13%	26.55%

Correlation

The correlation between AMCGX and BARIX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 29, 2009	0.90

Over the past year, the correlation between AMCGX and BARIX has dropped to 0.69 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

AMCGX vs. BARIX — Risk / Return Rank

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

AMCGX

AMCGX Risk / Return Rank: 16
AMCGX Sharpe Ratio Rank: 16
AMCGX Sortino Ratio Rank: 16
AMCGX Omega Ratio Rank: 14
AMCGX Calmar Ratio Rank: 15
AMCGX Martin Ratio Rank: 16

BARIX

BARIX Risk / Return Rank: 17
BARIX Sharpe Ratio Rank: 12
BARIX Sortino Ratio Rank: 21
BARIX Omega Ratio Rank: 18
BARIX Calmar Ratio Rank: 21
BARIX Martin Ratio Rank: 12

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.

AMCGX vs. BARIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap Growth Fund (AMCGX) and Baron Asset Fund Institutional Class (BARIX). 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.

	AMCGX	BARIX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	0.91	+0.15
Sortino ratio: Return per unit of downside risk	1.57	1.81	-0.24
Omega ratio: Gain probability vs. loss probability	1.18	1.21	-0.02
Calmar ratio: Return relative to maximum drawdown	1.29	1.59	-0.30
Martin ratio: Return relative to average drawdown	4.12	3.29	+0.83

AMCGX vs. BARIX - Sharpe Ratio Comparison

The current AMCGX Sharpe Ratio is 1.06, which is comparable to the BARIX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of AMCGX and BARIX, 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

AMCGX vs. BARIX - Drawdown Comparison

The maximum AMCGX drawdown since its inception was -74.93%, which is greater than BARIX's maximum drawdown of -37.44%. Use the drawdown chart below to compare losses from any high point for AMCGX and BARIX.

Drawdown Indicators

	AMCGX	BARIX	Difference
Max Drawdown Largest peak-to-trough decline	-74.93%	-37.44%	-37.49%
Max Drawdown (1Y) Largest decline over 1 year	-16.20%	-10.68%	-5.52%
Max Drawdown (3Y) Largest decline over 3 years	-26.65%	-17.78%	-8.87%
Max Drawdown (5Y) Largest decline over 5 years	-64.50%	-37.44%	-27.06%
Max Drawdown (10Y) Largest decline over 10 years	-64.50%	-37.44%	-27.06%
Current Drawdown Current decline from peak	-30.81%	-3.87%	-26.94%
Average Drawdown Average peak-to-trough decline	-22.88%	-6.73%	-16.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.06%	5.16%	-0.10%

Volatility

AMCGX vs. BARIX - Volatility Comparison

The current volatility for Alger Mid Cap Growth Fund (AMCGX) is 6.96%, while Baron Asset Fund Institutional Class (BARIX) has a volatility of 11.34%. This indicates that AMCGX experiences smaller price fluctuations and is considered to be less risky than BARIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMCGX	BARIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	11.34%	-4.38%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	14.31%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	19.78%	18.75%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.57%	20.22%	+10.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.87%	20.17%	+6.70%

AMCGX vs. BARIX - Expense Ratio Comparison

AMCGX has a 1.93% expense ratio, which is higher than BARIX's 1.03% expense ratio.

Dividends

AMCGX vs. BARIX - Dividend Comparison

AMCGX has not paid dividends to shareholders, while BARIX's dividend yield for the trailing twelve months is around 9.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMCGX Alger Mid Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	13.34%	13.72%	10.98%	7.59%	0.00%	0.00%	0.00%
BARIX Baron Asset Fund Institutional Class	9.53%	10.59%	17.88%	3.28%	0.01%	7.26%	2.92%	1.70%	7.14%	7.01%	4.74%	11.23%

Frequently Asked Questions

Can I hold both AMCGX and BARIX in my portfolio?

AMCGX and BARIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMCGX or BARIX?

BARIX has higher volatility (11.34%) compared to AMCGX (6.96%). In terms of maximum drawdown, AMCGX dropped -74.93% vs BARIX's -37.44%.

Which has better risk-adjusted returns?

AMCGX currently has the higher Sharpe Ratio (1.06 vs 0.91), 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.