BBGSX vs. BFGIX

Last updated Jun 24, 2026

BBGSX (Bridge Builder Small/Mid Cap Growth Fund) and BFGIX (Baron Focused Growth Fund Institutional Shares) are both Mid Cap Growth Equities funds. Over the past 10 years, BBGSX returned 11.34%/yr vs 21.84%/yr for BFGIX. Their correlation of 0.80 suggests significant overlap in exposure. BBGSX charges 0.38%/yr vs 1.05%/yr for BFGIX.

Performance

BBGSX vs. BFGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridge Builder Small/Mid Cap Growth Fund (BBGSX) and Baron Focused Growth Fund Institutional Shares (BFGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBGSX achieves a 11.42% return, which is significantly higher than BFGIX's 4.38% return. Over the past 10 years, BBGSX has underperformed BFGIX with an annualized return of 11.34%, while BFGIX has yielded a comparatively higher 21.84% annualized return.

BBGSX

• 1D: 0.89%
• 1M: 3.89%
• YTD: 11.42%
• 6M: 9.01%
• 1Y: 13.37%
• 3Y*: 12.27%
• 5Y*: 2.85%
• 10Y*: 11.34%

BFGIX

• 1D: -6.25%
• 1M: 5.60%
• YTD: 4.38%
• 6M: 2.37%
• 1Y: 24.01%
• 3Y*: 21.09%
• 5Y*: 12.23%
• 10Y*: 21.84%

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

BBGSX vs. BFGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBGSX Bridge Builder Small/Mid Cap Growth Fund	11.42%	0.99%	14.47%	20.98%	-29.84%	16.57%	34.41%	29.01%	-2.18%	21.47%
BFGIX Baron Focused Growth Fund Institutional Shares	4.38%	22.26%	29.85%	27.78%	-28.05%	19.00%	122.92%	30.34%	4.08%	26.58%

Correlation

The correlation between BBGSX and BFGIX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.80

The correlation between BBGSX and BFGIX shifts across timeframes, from 0.62 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BBGSX vs. BFGIX — Risk / Return Rank

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

BBGSX

BBGSX Risk / Return Rank: 10
BBGSX Sharpe Ratio Rank: 10
BBGSX Sortino Ratio Rank: 11
BBGSX Omega Ratio Rank: 10
BBGSX Calmar Ratio Rank: 10
BBGSX Martin Ratio Rank: 10

BFGIX

BFGIX Risk / Return Rank: 32
BFGIX Sharpe Ratio Rank: 20
BFGIX Sortino Ratio Rank: 28
BFGIX Omega Ratio Rank: 29
BFGIX Calmar Ratio Rank: 51
BFGIX Martin Ratio Rank: 33

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.

BBGSX vs. BFGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridge Builder Small/Mid Cap Growth Fund (BBGSX) and Baron Focused Growth Fund Institutional Shares (BFGIX). 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.

	BBGSX	BFGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.18	-0.38
Sortino ratio: Return per unit of downside risk	1.22	2.06	-0.84
Omega ratio: Gain probability vs. loss probability	1.15	1.26	-0.11
Calmar ratio: Return relative to maximum drawdown	0.89	2.62	-1.73
Martin ratio: Return relative to average drawdown	2.66	7.12	-4.45

BBGSX vs. BFGIX - Sharpe Ratio Comparison

The current BBGSX Sharpe Ratio is 0.81, which is lower than the BFGIX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of BBGSX and BFGIX, 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

BBGSX vs. BFGIX - Drawdown Comparison

The maximum BBGSX drawdown since its inception was -37.95%, smaller than the maximum BFGIX drawdown of -43.62%. Use the drawdown chart below to compare losses from any high point for BBGSX and BFGIX.

Drawdown Indicators

	BBGSX	BFGIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.95%	-43.62%	+5.67%
Max Drawdown (1Y) Largest decline over 1 year	-16.72%	-9.92%	-6.80%
Max Drawdown (3Y) Largest decline over 3 years	-26.11%	-20.97%	-5.14%
Max Drawdown (5Y) Largest decline over 5 years	-37.95%	-35.71%	-2.24%
Max Drawdown (10Y) Largest decline over 10 years	-37.95%	-43.62%	+5.67%
Current Drawdown Current decline from peak	0.00%	-9.92%	+9.92%
Average Drawdown Average peak-to-trough decline	-9.52%	-7.85%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	3.65%	+1.88%

Volatility

BBGSX vs. BFGIX - Volatility Comparison

The current volatility for Bridge Builder Small/Mid Cap Growth Fund (BBGSX) is 6.51%, while Baron Focused Growth Fund Institutional Shares (BFGIX) has a volatility of 12.08%. This indicates that BBGSX experiences smaller price fluctuations and is considered to be less risky than BFGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBGSX	BFGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.51%	12.08%	-5.57%
Volatility (6M) Calculated over the trailing 6-month period	15.00%	15.73%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	22.03%	-3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.84%	22.85%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.03%	24.24%	-3.21%

BBGSX vs. BFGIX - Expense Ratio Comparison

BBGSX has a 0.38% expense ratio, which is lower than BFGIX's 1.05% expense ratio.

Dividends

BBGSX vs. BFGIX - Dividend Comparison

Neither BBGSX nor BFGIX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBGSX Bridge Builder Small/Mid Cap Growth Fund	0.00%	0.00%	0.58%	0.32%	0.19%	18.00%	12.59%	4.07%	6.12%	1.09%	0.36%	0.00%
BFGIX Baron Focused Growth Fund Institutional Shares	0.00%	0.00%	0.00%	0.00%	11.79%	15.01%	2.78%	1.74%	1.05%	2.07%	5.92%	6.01%

Frequently Asked Questions

Can I hold both BBGSX and BFGIX in my portfolio?

BBGSX and BFGIX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBGSX or BFGIX?

BFGIX has higher volatility (12.08%) compared to BBGSX (6.51%). In terms of maximum drawdown, BBGSX dropped -37.95% vs BFGIX's -43.62%.

Which has better risk-adjusted returns?

BFGIX currently has the higher Sharpe Ratio (1.18 vs 0.81), 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.