BARIX vs. FBALX

Last updated Jun 23, 2026

BARIX (Baron Asset Fund Institutional Class) and FBALX (Fidelity Balanced Fund) are both mutual funds - BARIX is a Mid Cap Growth Equities fund managed by Baron Capital Group, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, BARIX returned 12.48%/yr vs 11.86%/yr for FBALX. Their correlation of 0.87 suggests significant overlap in exposure. BARIX charges 1.03%/yr vs 0.46%/yr for FBALX.

Performance

BARIX vs. FBALX - Performance Comparison

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

Returns By Period

In the year-to-date period, BARIX achieves a 11.12% return, which is significantly higher than FBALX's 10.21% return. Both investments have delivered pretty close results over the past 10 years, with BARIX having a 12.48% annualized return and FBALX not far behind at 11.86%.

BARIX

• 1D: -1.08%
• 1M: 17.73%
• YTD: 11.12%
• 6M: 9.59%
• 1Y: 17.19%
• 3Y*: 13.21%
• 5Y*: 4.41%
• 10Y*: 12.48%

FBALX

• 1D: 0.94%
• 1M: 1.41%
• YTD: 10.21%
• 6M: 10.14%
• 1Y: 23.97%
• 3Y*: 16.11%
• 5Y*: 9.49%
• 10Y*: 11.86%

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

BARIX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BARIX Baron Asset Fund Institutional Class	11.12%	8.17%	10.64%	17.36%	-25.87%	14.17%	33.32%	37.98%	0.13%	26.55%
FBALX Fidelity Balanced Fund	10.21%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between BARIX and FBALX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 29, 2009	0.87

Over the past year, the correlation between BARIX and FBALX has dropped to 0.55 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

BARIX vs. FBALX — Risk / Return Rank

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

BARIX

BARIX Risk / Return Rank: 17
BARIX Sharpe Ratio Rank: 12
BARIX Sortino Ratio Rank: 21
BARIX Omega Ratio Rank: 18
BARIX Calmar Ratio Rank: 21
BARIX Martin Ratio Rank: 12

FBALX

FBALX Risk / Return Rank: 86
FBALX Sharpe Ratio Rank: 87
FBALX Sortino Ratio Rank: 83
FBALX Omega Ratio Rank: 82
FBALX Calmar Ratio Rank: 84
FBALX Martin Ratio Rank: 91

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. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Asset Fund Institutional Class (BARIX) and Fidelity Balanced Fund (FBALX). 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	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	2.62	-1.71
Sortino ratio: Return per unit of downside risk	1.81	3.63	-1.83
Omega ratio: Gain probability vs. loss probability	1.21	1.50	-0.29
Calmar ratio: Return relative to maximum drawdown	1.59	3.71	-2.12
Martin ratio: Return relative to average drawdown	3.29	17.34	-14.06

BARIX vs. FBALX - Sharpe Ratio Comparison

The current BARIX Sharpe Ratio is 0.91, which is lower than the FBALX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of BARIX and FBALX, 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. FBALX - Drawdown Comparison

The maximum BARIX drawdown since its inception was -37.44%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for BARIX and FBALX.

Drawdown Indicators

	BARIX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-37.44%	-43.57%	+6.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-6.47%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-12.88%	-4.90%
Max Drawdown (5Y) Largest decline over 5 years	-37.44%	-22.89%	-14.55%
Max Drawdown (10Y) Largest decline over 10 years	-37.44%	-26.68%	-10.76%
Current Drawdown Current decline from peak	-3.87%	-0.14%	-3.73%
Average Drawdown Average peak-to-trough decline	-6.73%	-4.37%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	1.38%	+3.78%

Volatility

BARIX vs. FBALX - Volatility Comparison

Baron Asset Fund Institutional Class (BARIX) has a higher volatility of 11.34% compared to Fidelity Balanced Fund (FBALX) at 3.74%. This indicates that BARIX's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BARIX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.34%	3.74%	+7.60%
Volatility (6M) Calculated over the trailing 6-month period	14.31%	7.52%	+6.79%
Volatility (1Y) Calculated over the trailing 1-year period	18.75%	9.16%	+9.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	12.26%	+7.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.17%	12.82%	+7.35%

BARIX vs. FBALX - Expense Ratio Comparison

BARIX has a 1.03% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

BARIX vs. FBALX - Dividend Comparison

BARIX's dividend yield for the trailing twelve months is around 9.53%, more than FBALX's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BARIX Baron Asset Fund Institutional Class	9.53%	10.59%	17.88%	3.28%	0.01%	7.26%	2.92%	1.70%	7.14%	7.01%	4.74%	11.23%
FBALX Fidelity Balanced Fund	5.14%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%

Frequently Asked Questions

Can I hold both BARIX and FBALX in my portfolio?

BARIX and FBALX have a correlation of 0.55, 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 FBALX?

BARIX has higher volatility (11.34%) compared to FBALX (3.74%). In terms of maximum drawdown, BARIX dropped -37.44% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.62 vs 0.91), 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.