BARIX vs. FAGIX

Last updated Jun 13, 2026

BARIX (Baron Asset Fund Institutional Class) and FAGIX (Fidelity Capital & Income Fund) are both mutual funds - BARIX is a Mid Cap Growth Equities fund managed by Baron Capital Group, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. Over the past 10 years, BARIX returned 11.45%/yr vs 8.03%/yr for FAGIX. A 0.69 correlation means they provide meaningful diversification when combined. BARIX charges 1.03%/yr vs 0.67%/yr for FAGIX.

Performance

BARIX vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Asset Fund Institutional Class (BARIX) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BARIX achieves a 0.84% return, which is significantly lower than FAGIX's 7.40% return. Over the past 10 years, BARIX has outperformed FAGIX with an annualized return of 11.45%, while FAGIX has yielded a comparatively lower 8.03% annualized return.

BARIX

• 1D: 0.43%
• 1M: 9.83%
• YTD: 0.84%
• 6M: 0.23%
• 1Y: 4.48%
• 3Y*: 10.21%
• 5Y*: 2.48%
• 10Y*: 11.45%

FAGIX

• 1D: 1.15%
• 1M: 0.25%
• YTD: 7.40%
• 6M: 7.95%
• 1Y: 16.73%
• 3Y*: 12.87%
• 5Y*: 6.75%
• 10Y*: 8.03%

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

BARIX vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BARIX Baron Asset Fund Institutional Class	0.84%	8.17%	10.64%	17.36%	-25.87%	14.17%	33.32%	37.98%	0.13%	26.55%
FAGIX Fidelity Capital & Income Fund	7.40%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between BARIX and FAGIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since May 29, 2009	0.69

Over the past year, the correlation between BARIX and FAGIX has dropped to 0.48 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

Return for Risk

BARIX vs. FAGIX — Risk / Return Rank

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

BARIX

BARIX Risk / Return Rank: 7
BARIX Sharpe Ratio Rank: 7
BARIX Sortino Ratio Rank: 8
BARIX Omega Ratio Rank: 7
BARIX Calmar Ratio Rank: 8
BARIX Martin Ratio Rank: 6

FAGIX

FAGIX Risk / Return Rank: 91
FAGIX Sharpe Ratio Rank: 91
FAGIX Sortino Ratio Rank: 88
FAGIX Omega Ratio Rank: 87
FAGIX Calmar Ratio Rank: 95
FAGIX Martin Ratio Rank: 96

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. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund Institutional Class (BARIX) and Fidelity Capital & Income Fund (FAGIX). 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.

	BARIX	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.29	2.63	-2.35
Sortino ratio: Return per unit of downside risk	0.64	3.75	-3.12
Omega ratio: Gain probability vs. loss probability	1.07	1.52	-0.44
Calmar ratio: Return relative to maximum drawdown	0.44	4.85	-4.41
Martin ratio: Return relative to average drawdown	0.91	19.86	-18.95

BARIX vs. FAGIX - Sharpe Ratio Comparison

The current BARIX Sharpe Ratio is 0.29, which is lower than the FAGIX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of BARIX and FAGIX, 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

BARIX vs. FAGIX - Drawdown Comparison

The maximum BARIX drawdown since its inception was -37.44%, roughly equal to the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for BARIX and FAGIX.

Drawdown Indicators

	BARIX	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.44%	-37.97%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-3.49%	-7.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-7.26%	-10.52%
Max Drawdown (5Y) Largest decline over 5 years	-37.44%	-15.42%	-22.02%
Max Drawdown (10Y) Largest decline over 10 years	-37.44%	-28.45%	-8.99%
Current Drawdown Current decline from peak	-1.45%	-1.04%	-0.41%
Average Drawdown Average peak-to-trough decline	-6.73%	-6.98%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	0.85%	+4.31%

Volatility

BARIX vs. FAGIX - Volatility Comparison

Baron Asset Fund Institutional Class (BARIX) has a higher volatility of 7.48% compared to Fidelity Capital & Income Fund (FAGIX) at 2.71%. This indicates that BARIX's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BARIX	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	2.71%	+4.77%
Volatility (6M) Calculated over the trailing 6-month period	11.11%	5.30%	+5.81%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	6.42%	+9.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	6.66%	+13.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	7.84%	+12.12%

BARIX vs. FAGIX - Expense Ratio Comparison

BARIX has a 1.03% expense ratio, which is higher than FAGIX's 0.67% expense ratio.

Dividends

BARIX vs. FAGIX - Dividend Comparison

BARIX's dividend yield for the trailing twelve months is around 10.50%, more than FAGIX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BARIX Baron Asset Fund Institutional Class	10.50%	10.59%	17.88%	3.28%	0.01%	7.26%	2.92%	1.70%	7.14%	7.01%	4.74%	11.23%
FAGIX Fidelity Capital & Income Fund	4.47%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%

Frequently Asked Questions

Can I hold both BARIX and FAGIX in my portfolio?

BARIX and FAGIX have a correlation of 0.48, 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 FAGIX?

BARIX has higher volatility (7.48%) compared to FAGIX (2.71%). In terms of maximum drawdown, BARIX dropped -37.44% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (2.63 vs 0.29), 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.