BARAX vs. VLIFX

Last updated Jul 15, 2026

BARAX (Baron Asset Fund) and VLIFX (Value Line Mid Cap Focused Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, BARAX returned 11.11%/yr vs 11.66%/yr for VLIFX. Their correlation of 0.83 suggests significant overlap in exposure. BARAX charges 1.29%/yr vs 1.07%/yr for VLIFX.

Performance

BARAX vs. VLIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Asset Fund (BARAX) and Value Line Mid Cap Focused Fund (VLIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BARAX achieves a 3.48% return, which is significantly higher than VLIFX's 1.42% return. Both investments have delivered pretty close results over the past 10 years, with BARAX having a 11.11% annualized return and VLIFX not far ahead at 11.66%.

BARAX

• 1D: -1.20%
• 1M: -2.94%
• 6M: 2.75%
• YTD: 3.48%
• 1Y: 7.25%
• 3Y*: 8.91%
• 5Y*: 2.17%
• 10Y*: 11.11%

VLIFX

• 1D: 0.03%
• 1M: 1.18%
• 6M: -1.60%
• YTD: 1.42%
• 1Y: 0.15%
• 3Y*: 5.97%
• 5Y*: 6.00%
• 10Y*: 11.66%

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

BARAX vs. VLIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BARAX Baron Asset Fund	3.48%	7.89%	10.35%	17.05%	-26.06%	13.88%	32.98%	37.64%	-0.15%	26.18%
VLIFX Value Line Mid Cap Focused Fund	1.42%	0.79%	7.59%	22.11%	-9.60%	19.76%	19.96%	35.30%	4.65%	19.85%

Correlation

The correlation between BARAX and VLIFX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 12, 1987	0.83

The correlation between BARAX and VLIFX shifts across timeframes, from 0.72 (1 year) to 0.90 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BARAX vs. VLIFX — Risk / Return Rank

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

BARAX

BARAX Risk / Return Rank: 9
BARAX Sharpe Ratio Rank: 7
BARAX Sortino Ratio Rank: 9
BARAX Omega Ratio Rank: 9
BARAX Calmar Ratio Rank: 11
BARAX Martin Ratio Rank: 8

VLIFX

VLIFX Risk / Return Rank: 4
VLIFX Sharpe Ratio Rank: 4
VLIFX Sortino Ratio Rank: 3
VLIFX Omega Ratio Rank: 4
VLIFX Calmar Ratio Rank: 4
VLIFX Martin Ratio Rank: 4

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. VLIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund (BARAX) and Value Line Mid Cap Focused Fund (VLIFX). 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.

	BARAX	VLIFX	Difference
Sharpe ratio: Return per unit of total volatility	0.38	0.04	+0.34
Sortino ratio: Return per unit of downside risk	0.78	0.15	+0.63
Omega ratio: Gain probability vs. loss probability	1.10	1.02	+0.08
Calmar ratio: Return relative to maximum drawdown	0.72	0.04	+0.67
Martin ratio: Return relative to average drawdown	1.37	0.12	+1.25

BARAX vs. VLIFX - Sharpe Ratio Comparison

The current BARAX Sharpe Ratio is 0.38, which is higher than the VLIFX Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of BARAX and VLIFX, 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

BARAX vs. VLIFX - Drawdown Comparison

The maximum BARAX drawdown since its inception was -59.71%, roughly equal to the maximum VLIFX drawdown of -61.48%. Use the drawdown chart below to compare losses from any high point for BARAX and VLIFX.

Drawdown Indicators

	BARAX	VLIFX	Difference
Max Drawdown Largest peak-to-trough decline	-59.71%	-61.48%	+1.77%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-11.81%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.82%	-17.66%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	-21.91%	-15.62%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	-35.51%	-2.02%
Current Drawdown Current decline from peak	-10.38%	-6.17%	-4.21%
Average Drawdown Average peak-to-trough decline	-11.40%	-15.64%	+4.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	4.34%	+1.26%

Volatility

BARAX vs. VLIFX - Volatility Comparison

Baron Asset Fund (BARAX) has a higher volatility of 12.83% compared to Value Line Mid Cap Focused Fund (VLIFX) at 2.86%. This indicates that BARAX's price experiences larger fluctuations and is considered to be riskier than VLIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BARAX	VLIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.83%	2.86%	+9.97%
Volatility (6M) Calculated over the trailing 6-month period	16.57%	10.04%	+6.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.53%	13.50%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.46%	16.87%	+3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.19%	17.82%	+2.37%

BARAX vs. VLIFX - Expense Ratio Comparison

BARAX has a 1.29% expense ratio, which is higher than VLIFX's 1.07% expense ratio.

Dividends

BARAX vs. VLIFX - Dividend Comparison

BARAX's dividend yield for the trailing twelve months is around 11.12%, more than VLIFX's 2.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BARAX Baron Asset Fund	11.12%	11.51%	19.23%	3.48%	0.01%	7.65%	3.05%	1.78%	7.42%	7.25%	4.88%	11.50%
VLIFX Value Line Mid Cap Focused Fund	2.13%	2.16%	0.99%	0.03%	7.22%	8.23%	7.81%	1.42%	5.12%	1.61%	2.24%	0.00%

Frequently Asked Questions

Can I hold both BARAX and VLIFX in my portfolio?

BARAX and VLIFX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BARAX or VLIFX?

BARAX has higher volatility (12.83%) compared to VLIFX (2.86%). In terms of maximum drawdown, BARAX dropped -59.71% vs VLIFX's -61.48%.

Which has better risk-adjusted returns?

BARAX currently has the higher Sharpe Ratio (0.38 vs 0.04), 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.