BARIX vs. AMCGX

Last updated Jun 4, 2026

BARIX (Baron Asset Fund Institutional Class) and AMCGX (Alger Mid Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, BARIX returned 10.80%/yr vs 7.76%/yr for AMCGX. Their correlation of 0.90 suggests significant overlap in exposure. BARIX charges 1.03%/yr vs 1.93%/yr for AMCGX.

Performance

BARIX vs. AMCGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Asset Fund Institutional Class (BARIX) and Alger Mid Cap Growth Fund (AMCGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BARIX achieves a -3.78% return, which is significantly lower than AMCGX's 5.17% return. Over the past 10 years, BARIX has outperformed AMCGX with an annualized return of 10.80%, while AMCGX has yielded a comparatively lower 7.76% annualized return.

BARIX

• 1D: -0.63%
• 1M: 1.76%
• YTD: -3.78%
• 6M: 1.13%
• 1Y: 0.80%
• 3Y*: 8.49%
• 5Y*: 2.17%
• 10Y*: 10.80%

AMCGX

• 1D: -0.42%
• 1M: 5.92%
• YTD: 5.17%
• 6M: 4.70%
• 1Y: 19.07%
• 3Y*: 16.88%
• 5Y*: -3.87%
• 10Y*: 7.76%

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

BARIX vs. AMCGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BARIX Baron Asset Fund Institutional Class	-3.78%	8.17%	10.64%	17.36%	-25.87%	14.17%	33.32%	37.98%	0.13%	26.55%
AMCGX Alger Mid Cap Growth Fund	5.17%	16.63%	20.10%	22.85%	-35.19%	-29.98%	63.90%	29.63%	-8.03%	27.39%

Correlation

The correlation between BARIX and AMCGX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 1, 2009	0.90

The correlation between BARIX and AMCGX shifts across timeframes, from 0.71 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BARIX vs. AMCGX — Risk / Return Rank

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

BARIX

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

AMCGX

AMCGX Risk / Return Rank: 14
AMCGX Sharpe Ratio Rank: 15
AMCGX Sortino Ratio Rank: 15
AMCGX Omega Ratio Rank: 13
AMCGX Calmar Ratio Rank: 14
AMCGX Martin Ratio Rank: 14

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.

BARIX vs. AMCGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund Institutional Class (BARIX) and Alger Mid Cap Growth Fund (AMCGX). 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.

	BARIX	AMCGX	Difference
Sharpe ratio: Return per unit of total volatility	0.10	1.07	-0.97
Sortino ratio: Return per unit of downside risk	0.28	1.59	-1.31
Omega ratio: Gain probability vs. loss probability	1.03	1.18	-0.15
Calmar ratio: Return relative to maximum drawdown	0.14	1.26	-1.12
Martin ratio: Return relative to average drawdown	0.29	4.03	-3.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BARIX vs. AMCGX - Sharpe Ratio Comparison

The current BARIX Sharpe Ratio is 0.10, which is lower than the AMCGX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of BARIX and AMCGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BARIX	AMCGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.07	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	-0.13	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.29	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.04	+0.61

Drawdowns

BARIX vs. AMCGX - Drawdown Comparison

The maximum BARIX drawdown since its inception was -37.44%, smaller than the maximum AMCGX drawdown of -74.93%. Use the drawdown chart below to compare losses from any high point for BARIX and AMCGX.

Drawdown Indicators

	BARIX	AMCGX	Difference
Max Drawdown Largest peak-to-trough decline	-37.44%	-74.93%	+37.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-16.20%	+5.52%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-26.65%	+8.87%
Max Drawdown (5Y) Largest decline over 5 years	-37.44%	-64.50%	+27.06%
Max Drawdown (10Y) Largest decline over 10 years	-37.44%	-64.50%	+27.06%
Current Drawdown Current decline from peak	-5.24%	-33.07%	+27.83%
Average Drawdown Average peak-to-trough decline	-6.74%	-22.87%	+16.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.15%	5.04%	+0.11%

Volatility

BARIX vs. AMCGX - Volatility Comparison

The current volatility for Baron Asset Fund Institutional Class (BARIX) is 3.28%, while Alger Mid Cap Growth Fund (AMCGX) has a volatility of 5.44%. This indicates that BARIX experiences smaller price fluctuations and is considered to be less risky than AMCGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BARIX	AMCGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	5.44%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	14.71%	-3.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	19.01%	-4.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	30.49%	-10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.84%	26.81%	-6.97%

BARIX vs. AMCGX - Expense Ratio Comparison

BARIX has a 1.03% expense ratio, which is lower than AMCGX's 1.93% expense ratio.

Dividends

BARIX vs. AMCGX - Dividend Comparison

BARIX's dividend yield for the trailing twelve months is around 11.00%, while AMCGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMCGX Alger Mid Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	13.34%	13.72%	10.98%	7.59%	0.00%	0.00%	0.00%
BARIX Baron Asset Fund Institutional Class	11.00%	10.59%	17.88%	3.28%	0.01%	7.26%	2.92%	1.70%	7.14%	7.01%	4.74%	11.23%

Frequently Asked Questions

Can I hold both BARIX and AMCGX in my portfolio?

BARIX and AMCGX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BARIX or AMCGX?

AMCGX has higher volatility (5.44%) compared to BARIX (3.28%). In terms of maximum drawdown, BARIX dropped -37.44% vs AMCGX's -74.93%.

Which has better risk-adjusted returns?

AMCGX currently has the higher Sharpe Ratio (1.07 vs 0.10), 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.