BAFMX vs. BIAEX

Last updated Apr 2, 2026

Compare and contrast key facts about Brown Advisory Mid-Cap Growth Fund (BAFMX) and Brown Advisory Tax Exempt Bond Fund (BIAEX).

BAFMX is managed by Brown Advisory Funds. It was launched on Jul 2, 2018. BIAEX is managed by Brown Advisory Funds. It was launched on Jun 28, 2012.

Performance

BAFMX vs. BIAEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory Mid-Cap Growth Fund (BAFMX) and Brown Advisory Tax Exempt Bond Fund (BIAEX). The values are adjusted to include any dividend payments, if applicable.

BAFMX vs. BIAEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BAFMX Brown Advisory Mid-Cap Growth Fund	-8.93%	3.70%	15.29%	23.21%	-28.12%	6.32%	32.56%	38.63%	-8.59%
BIAEX Brown Advisory Tax Exempt Bond Fund	-0.48%	5.50%	2.08%	6.43%	-9.75%	2.39%	3.65%	7.48%	1.50%

Returns By Period

In the year-to-date period, BAFMX achieves a -8.93% return, which is significantly lower than BIAEX's -0.48% return.

BAFMX

• 1D: 3.00%
• 1M: -5.02%
• YTD: -8.93%
• 6M: -13.55%
• 1Y: 1.40%
• 3Y*: 7.92%
• 5Y*: 0.12%
• 10Y*: —

BIAEX

• 1D: 0.21%
• 1M: -2.20%
• YTD: -0.48%
• 6M: 1.23%
• 1Y: 4.68%
• 3Y*: 3.61%
• 5Y*: 1.01%
• 10Y*: 1.97%

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

BAFMX vs. BIAEX - Expense Ratio Comparison

BAFMX has a 0.79% expense ratio, which is higher than BIAEX's 0.46% expense ratio.

BAFMX

Brown Advisory Mid-Cap Growth Fund

BIAEX

Brown Advisory Tax Exempt Bond Fund

Return for Risk

BAFMX vs. BIAEX — Risk / Return Rank

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

BAFMX

BAFMX Risk / Return Rank: 6
BAFMX Sharpe Ratio Rank: 5
BAFMX Sortino Ratio Rank: 6
BAFMX Omega Ratio Rank: 6
BAFMX Calmar Ratio Rank: 7
BAFMX Martin Ratio Rank: 7

BIAEX

BIAEX Risk / Return Rank: 63
BIAEX Sharpe Ratio Rank: 67
BIAEX Sortino Ratio Rank: 63
BIAEX Omega Ratio Rank: 82
BIAEX Calmar Ratio Rank: 54
BIAEX Martin Ratio Rank: 50

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.

BAFMX vs. BIAEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Mid-Cap Growth Fund (BAFMX) and Brown Advisory Tax Exempt Bond Fund (BIAEX). 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.

	BAFMX	BIAEX	Difference
Sharpe ratio Return per unit of total volatility	0.09	1.24	-1.15
Sortino ratio Return per unit of downside risk	0.29	1.68	-1.39
Omega ratio Gain probability vs. loss probability	1.04	1.34	-0.30
Calmar ratio Return relative to maximum drawdown	0.12	1.41	-1.29
Martin ratio Return relative to average drawdown	0.33	5.19	-4.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAFMX vs. BIAEX - Sharpe Ratio Comparison

The current BAFMX Sharpe Ratio is 0.09, which is lower than the BIAEX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of BAFMX and BIAEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BAFMX	BIAEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	1.24	-1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.30	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.48	-0.13

Correlation

The correlation between BAFMX and BIAEX is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BAFMX vs. BIAEX - Dividend Comparison

BAFMX's dividend yield for the trailing twelve months is around 80.17%, more than BIAEX's 3.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAFMX Brown Advisory Mid-Cap Growth Fund	80.17%	73.01%	0.00%	0.00%	6.85%	9.92%	0.00%	0.52%	1.14%	0.00%
BIAEX Brown Advisory Tax Exempt Bond Fund	3.48%	3.79%	3.67%	3.15%	2.00%	2.57%	2.75%	3.01%	3.27%	2.30%

Drawdowns

BAFMX vs. BIAEX - Drawdown Comparison

The maximum BAFMX drawdown since its inception was -38.26%, which is greater than BIAEX's maximum drawdown of -13.89%. Use the drawdown chart below to compare losses from any high point for BAFMX and BIAEX.

Drawdown Indicators

	BAFMX	BIAEX	Difference
Max Drawdown Largest peak-to-trough decline	-38.26%	-13.89%	-24.37%
Max Drawdown (1Y) Largest decline over 1 year	-17.09%	-3.97%	-13.12%
Max Drawdown (5Y) Largest decline over 5 years	-38.14%	-13.89%	-24.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-13.89%	—
Current Drawdown Current decline from peak	-14.61%	-2.51%	-12.10%
Average Drawdown Average peak-to-trough decline	-11.71%	-2.85%	-8.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.03%	1.08%	+4.95%

Volatility

BAFMX vs. BIAEX - Volatility Comparison

Brown Advisory Mid-Cap Growth Fund (BAFMX) has a higher volatility of 5.76% compared to Brown Advisory Tax Exempt Bond Fund (BIAEX) at 1.01%. This indicates that BAFMX's price experiences larger fluctuations and is considered to be riskier than BIAEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAFMX	BIAEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	1.01%	+4.75%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	1.66%	+10.20%
Volatility (1Y) Calculated over the trailing 1-year period	21.34%	4.09%	+17.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.56%	3.37%	+17.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.52%	3.58%	+18.94%