BARAX vs. SPY
Compare and contrast key facts about Baron Asset Fund (BARAX) and State Street SPDR S&P 500 ETF (SPY).
BARAX is managed by Baron Capital Group, Inc.. It was launched on Jun 12, 1987. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
BARAX vs. SPY - Performance Comparison
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BARAX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BARAX Baron Asset Fund | -7.87% | 7.89% | 10.35% | 17.05% | -26.06% | 13.88% | 32.98% | 37.64% | -0.15% | 26.18% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, BARAX achieves a -7.87% return, which is significantly lower than SPY's -3.65% return. Over the past 10 years, BARAX has underperformed SPY with an annualized return of 10.32%, while SPY has yielded a comparatively higher 14.06% annualized return.
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%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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BARAX vs. SPY - Expense Ratio Comparison
BARAX has a 1.29% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
BARAX vs. SPY — Risk / Return Rank
BARAX
SPY
BARAX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund (BARAX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.13 | 0.96 | -0.83 |
Sortino ratioReturn per unit of downside risk | 0.35 | 1.49 | -1.15 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.23 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.53 | -1.17 |
Martin ratioReturn relative to average drawdown | 0.90 | 7.27 | -6.36 |
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 | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.13 | 0.96 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.70 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.79 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.56 | -0.08 |
Correlation
The correlation between BARAX and SPY is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BARAX vs. SPY - Dividend Comparison
BARAX's dividend yield for the trailing twelve months is around 12.49%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BARAX vs. SPY - Drawdown Comparison
The maximum BARAX drawdown since its inception was -59.71%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BARAX and SPY.
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Drawdown Indicators
| BARAX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.71% | -55.19% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -11.12% | -12.05% | +0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -37.53% | -24.50% | -13.03% |
Max Drawdown (10Y)Largest decline over 10 years | -37.53% | -33.72% | -3.81% |
Current DrawdownCurrent decline from peak | -9.28% | -5.53% | -3.75% |
Average DrawdownAverage peak-to-trough decline | -11.44% | -9.09% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 2.54% | +1.90% |
Volatility
BARAX vs. SPY - Volatility Comparison
The current volatility for Baron Asset Fund (BARAX) is 3.90%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.35%. This indicates that BARAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BARAX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 5.35% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 11.83% | 9.50% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.02% | 19.06% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.56% | 17.06% | +2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.79% | 17.92% | +1.87% |