BARAX vs. BAFMX

Last updated Jun 4, 2026

BARAX (Baron Asset Fund) and BAFMX (Brown Advisory Mid-Cap Growth Fund) are both Mid Cap Growth Equities funds. Their correlation of 0.93 suggests significant overlap in exposure. BARAX charges 1.29%/yr vs 0.79%/yr for BAFMX.

Performance

BARAX vs. BAFMX - Performance Comparison

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

Returns By Period

BARAX

• 1D: -0.63%
• 1M: 1.74%
• YTD: -3.88%
• 6M: 1.00%
• 1Y: 0.55%
• 3Y*: 8.21%
• 5Y*: 1.91%
• 10Y*: 10.51%

BAFMX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BARAX vs. BAFMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BARAX Baron Asset Fund	-3.88%	7.89%	10.35%	17.05%	-26.06%	13.88%	32.98%	37.64%	-8.85%
BAFMX Brown Advisory Mid-Cap Growth Fund	-2.65%	3.70%	15.29%	23.21%	-28.12%	6.32%	32.56%	38.63%	-8.59%

Correlation

The correlation between BARAX and BAFMX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 19, 2018	0.93

The correlation between BARAX and BAFMX shifts across timeframes, from 0.78 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BARAX vs. BAFMX — Risk / Return Rank

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

BARAX

BARAX Risk / Return Rank: 3
BARAX Sharpe Ratio Rank: 3
BARAX Sortino Ratio Rank: 3
BARAX Omega Ratio Rank: 3
BARAX Calmar Ratio Rank: 3
BARAX Martin Ratio Rank: 3

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.

BARAX vs. BAFMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund (BARAX) and Brown Advisory Mid-Cap Growth Fund (BAFMX). 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.

	BARAX	BAFMX	Difference
Sharpe ratio: Return per unit of total volatility	0.08	—	—
Sortino ratio: Return per unit of downside risk	0.25	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	0.11	—	—
Martin ratio: Return relative to average drawdown	0.23	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BARAX	BAFMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	—	—

Drawdowns

Drawdown Indicators

	BARAX	BAFMX	Difference
Max Drawdown Largest peak-to-trough decline	-59.71%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	—	—
Current Drawdown Current decline from peak	-5.36%	—	—
Average Drawdown Average peak-to-trough decline	-11.42%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.20%	—	—

Volatility

Volatility by Period

	BARAX	BAFMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.46%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.79%	—	—

BARAX vs. BAFMX - Expense Ratio Comparison

BARAX has a 1.29% expense ratio, which is higher than BAFMX's 0.79% expense ratio.

Dividends

BARAX vs. BAFMX - Dividend Comparison

BARAX's dividend yield for the trailing twelve months is around 11.97%, less than BAFMX's 75.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAFMX Brown Advisory Mid-Cap Growth Fund	75.00%	73.01%	0.00%	0.00%	6.85%	9.92%	0.00%	0.52%	1.14%	0.00%	0.00%	0.00%
BARAX Baron Asset Fund	11.97%	11.51%	19.23%	3.48%	0.01%	7.65%	3.05%	1.78%	7.42%	7.25%	4.88%	11.50%

Frequently Asked Questions

Can I hold both BARAX and BAFMX in my portfolio?

BARAX and BAFMX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.