BDAFX vs. BSCFX

Last updated Aug 1, 2026

BDAFX (Baron Durable Advantage Fund Retail Shares) and BSCFX (Baron Small Cap Fund) are both mutual funds - BDAFX is a Large Cap Growth Equities fund actively managed by Baron Capital, while BSCFX is a Small Cap Growth Equities fund managed by Baron Capital. Over the past 5 years, BDAFX returned 12.25%/yr vs 0.41%/yr for BSCFX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. BDAFX charges 0.95%/yr vs 1.29%/yr for BSCFX.

Performance

BDAFX vs. BSCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Durable Advantage Fund Retail Shares (BDAFX) and Baron Small Cap Fund (BSCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDAFX achieves a 2.59% return, which is significantly higher than BSCFX's 0.54% return.

BDAFX

• 1D: 2.59%
• 1M: -0.50%
• 6M: 0.87%
• YTD: 2.59%
• 1Y: 7.88%
• 3Y*: 17.91%
• 5Y*: 12.25%
• 10Y*: —
• ALL TIME*: 17.47%

BSCFX

• 1D: -0.55%
• 1M: -4.06%
• 6M: 0.35%
• YTD: 0.54%
• 1Y: -1.28%
• 3Y*: 5.89%
• 5Y*: 0.41%
• 10Y*: 10.13%
• ALL TIME*: 8.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BDAFX Baron Durable Advantage Fund Retail Shares	$0.00	$0.00	$0.00
BSCFX Baron Small Cap Fund	$0.00	$0.00	$0.00

BDAFX vs. BSCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BDAFX Baron Durable Advantage Fund Retail Shares	2.59%	16.25%	26.87%	45.11%	-24.99%	31.79%	20.11%	27.13%
BSCFX Baron Small Cap Fund	0.54%	-0.92%	13.11%	26.90%	-31.19%	15.42%	40.38%	12.28%

Correlation

The correlation between BDAFX and BSCFX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019	0.80

Over the past year, the correlation between BDAFX and BSCFX has dropped to 0.58 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

BDAFX vs. BSCFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BDAFX

BDAFX Risk / Return Rank: 10
BDAFX Sharpe Ratio Rank: 10
BDAFX Sortino Ratio Rank: 10
BDAFX Omega Ratio Rank: 10
BDAFX Calmar Ratio Rank: 10
BDAFX Martin Ratio Rank: 12

BSCFX

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BDAFX vs. BSCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Durable Advantage Fund Retail Shares (BDAFX) and Baron Small Cap Fund (BSCFX). 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.

	BDAFX	BSCFX	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-0.18	+0.55
Sortino ratio: Return per unit of downside risk	0.63	-0.14	+0.77
Omega ratio: Gain probability vs. loss probability	1.08	0.99	+0.09
Calmar ratio: Return relative to maximum drawdown	0.43	-0.22	+0.65
Martin ratio: Return relative to average drawdown	1.52	-0.56	+2.08

BDAFX vs. BSCFX - Sharpe Ratio Comparison

The current BDAFX Sharpe Ratio is 0.37, which is higher than the BSCFX Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of BDAFX and BSCFX, 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

BDAFX vs. BSCFX - Drawdown Comparison

The maximum BDAFX drawdown since its inception was -33.59%, smaller than the maximum BSCFX drawdown of -55.59%. Use the drawdown chart below to compare losses from any high point for BDAFX and BSCFX.

Drawdown Indicators

	BDAFX	BSCFX	Difference
Max Drawdown Largest peak-to-trough decline	-33.59%	-55.59%	+22.00%
Max Drawdown (1Y) Largest decline over 1 year	-14.85%	-15.00%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-26.91%	+5.09%
Max Drawdown (5Y) Largest decline over 5 years	-30.44%	-37.94%	+7.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.58%	—
Current Drawdown Current decline from peak	-4.10%	-8.77%	+4.67%
Average Drawdown Average peak-to-trough decline	-5.81%	-11.07%	+5.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	5.97%	-1.78%

Volatility

BDAFX vs. BSCFX - Volatility Comparison

Baron Durable Advantage Fund Retail Shares (BDAFX) and Baron Small Cap Fund (BSCFX) have volatilities of 4.84% and 4.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDAFX	BSCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.84%	4.65%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	13.64%	13.86%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	18.25%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.49%	22.45%	-1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	22.38%	-0.46%

BDAFX vs. BSCFX - Expense Ratio Comparison

BDAFX has a 0.95% expense ratio, which is lower than BSCFX's 1.29% expense ratio.

Dividends

BDAFX vs. BSCFX - Dividend Comparison

BDAFX has not paid dividends to shareholders, while BSCFX's dividend yield for the trailing twelve months is around 9.88%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDAFX Baron Durable Advantage Fund Retail Shares	0.00%	0.00%	0.01%	0.00%	0.00%	0.33%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
BSCFX Baron Small Cap Fund	9.88%	9.50%	13.96%	3.04%	5.90%	12.47%	11.17%	9.60%	10.91%	13.57%	22.41%	12.56%

Frequently Asked Questions

Can I hold both BDAFX and BSCFX in my portfolio?

BDAFX and BSCFX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDAFX or BSCFX?

BDAFX has higher volatility (4.84%) compared to BSCFX (4.65%). In terms of maximum drawdown, BDAFX dropped -33.59% vs BSCFX's -55.59%.

Which has better risk-adjusted returns?

BDAFX currently has the higher Sharpe Ratio (0.37 vs -0.18), 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.