BARAX vs. IWV
BARAX (Baron Asset Fund) and IWV (iShares Russell 3000 ETF) are both funds - BARAX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc., while IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index. Over the past 10 years, BARAX returned 10.51%/yr vs 14.86%/yr for IWV. Their correlation of 0.88 suggests significant overlap in exposure. BARAX charges 1.29%/yr vs 0.20%/yr for IWV.
Performance
BARAX vs. IWV - Performance Comparison
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Returns By Period
In the year-to-date period, BARAX achieves a -3.88% return, which is significantly lower than IWV's 10.78% return. Over the past 10 years, BARAX has underperformed IWV with an annualized return of 10.51%, while IWV has yielded a comparatively higher 14.86% annualized return.
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%
IWV
- 1D
- -0.76%
- 1M
- 4.87%
- YTD
- 10.78%
- 6M
- 10.68%
- 1Y
- 27.44%
- 3Y*
- 21.75%
- 5Y*
- 12.53%
- 10Y*
- 14.86%
BARAX vs. IWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BARAX Baron Asset Fund | -3.88% | 7.89% | 10.35% | 17.05% | -26.06% | 13.88% | 32.98% | 37.64% | -0.15% | 26.18% |
IWV iShares Russell 3000 ETF | 10.78% | 16.96% | 23.49% | 25.82% | -19.28% | 25.54% | 20.55% | 30.66% | -5.43% | 20.97% |
Correlation
The correlation between BARAX and IWV is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 30, 2000 | 0.88 |
Over the past year, the correlation between BARAX and IWV has dropped to 0.64 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
BARAX vs. IWV — Risk / Return Rank
BARAX
IWV
BARAX vs. IWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund (BARAX) and iShares Russell 3000 ETF (IWV). 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 | IWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.41 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 3.10 | -2.99 |
| Martin ratioReturn relative to average drawdown | 0.23 | 14.28 | -14.05 |
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
| BARAX | IWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | 2.28 | -2.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.73 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.81 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.45 | +0.04 |
Drawdowns
BARAX vs. IWV - Drawdown Comparison
The maximum BARAX drawdown since its inception was -59.71%, which is greater than IWV's maximum drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for BARAX and IWV.
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Drawdown Indicators
| BARAX | IWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.71% | -55.61% | -4.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.75% | -8.89% | -1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -17.82% | -19.28% | +1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -37.53% | -25.11% | -12.42% |
Max Drawdown (10Y)Largest decline over 10 years | -37.53% | -35.22% | -2.31% |
Current DrawdownCurrent decline from peak | -5.36% | -0.76% | -4.60% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -10.59% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.20% | 1.93% | +3.27% |
Volatility
BARAX vs. IWV - Volatility Comparison
Baron Asset Fund (BARAX) has a higher volatility of 3.28% compared to iShares Russell 3000 ETF (IWV) at 2.95%. This indicates that BARAX's price experiences larger fluctuations and is considered to be riskier than IWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BARAX | IWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 2.95% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.83% | 9.09% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.75% | 12.11% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.46% | 17.24% | +2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.79% | 18.40% | +1.39% |
BARAX vs. IWV - Expense Ratio Comparison
BARAX has a 1.29% expense ratio, which is higher than IWV's 0.20% expense ratio.
Dividends
BARAX vs. IWV - Dividend Comparison
BARAX's dividend yield for the trailing twelve months is around 11.97%, more than IWV's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IWV iShares Russell 3000 ETF | 0.85% | 0.96% | 1.08% | 1.30% | 1.56% | 1.04% | 1.30% | 1.69% | 1.97% | 1.58% | 1.79% | 1.99% |
Frequently Asked Questions
BARAX and IWV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BARAX has higher volatility (3.28%) compared to IWV (2.95%). In terms of maximum drawdown, BARAX dropped -59.71% vs IWV's -55.61%.
IWV currently has the higher Sharpe Ratio (2.28 vs 0.08), 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.
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