BDAFX vs. SPMO
Compare and contrast key facts about Baron Durable Advantage Fund Retail Shares (BDAFX) and Invesco S&P 500 Momentum ETF (SPMO).
BDAFX is an actively managed fund by Baron Capital Group. It was launched on Dec 29, 2017. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.
Performance
BDAFX vs. SPMO - Performance Comparison
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BDAFX vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BDAFX Baron Durable Advantage Fund Retail Shares | -12.34% | 16.25% | 26.87% | 45.11% | -24.99% | 31.79% | 20.11% | 27.13% |
SPMO Invesco S&P 500 Momentum ETF | -5.78% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 11.64% |
Returns By Period
In the year-to-date period, BDAFX achieves a -12.34% return, which is significantly lower than SPMO's -5.78% return.
BDAFX
- 1D
- -0.17%
- 1M
- -8.90%
- YTD
- -12.34%
- 6M
- -10.06%
- 1Y
- 9.68%
- 3Y*
- 17.40%
- 5Y*
- 12.51%
- 10Y*
- —
SPMO
- 1D
- 3.96%
- 1M
- -5.89%
- YTD
- -5.78%
- 6M
- -6.90%
- 1Y
- 22.23%
- 3Y*
- 28.36%
- 5Y*
- 17.17%
- 10Y*
- 17.16%
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BDAFX vs. SPMO - Expense Ratio Comparison
BDAFX has a 0.95% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Return for Risk
BDAFX vs. SPMO — Risk / Return Rank
BDAFX
SPMO
BDAFX vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Durable Advantage Fund Retail Shares (BDAFX) and Invesco S&P 500 Momentum ETF (SPMO). 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.
| BDAFX | SPMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | 0.98 | -0.54 |
Sortino ratioReturn per unit of downside risk | 0.79 | 1.51 | -0.72 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.49 | 1.79 | -1.29 |
Martin ratioReturn relative to average drawdown | 1.82 | 6.36 | -4.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BDAFX | SPMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 0.98 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.91 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.85 | -0.13 |
Correlation
The correlation between BDAFX and SPMO is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BDAFX vs. SPMO - Dividend Comparison
BDAFX has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.91%.
| 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% |
SPMO Invesco S&P 500 Momentum ETF | 0.91% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Drawdowns
BDAFX vs. SPMO - Drawdown Comparison
The maximum BDAFX drawdown since its inception was -33.59%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for BDAFX and SPMO.
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Drawdown Indicators
| BDAFX | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.59% | -30.95% | -2.64% |
Max Drawdown (1Y)Largest decline over 1 year | -14.85% | -12.70% | -2.15% |
Max Drawdown (5Y)Largest decline over 5 years | -30.44% | -22.74% | -7.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -14.85% | -9.24% | -5.61% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -4.66% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.03% | 3.57% | +0.46% |
Volatility
BDAFX vs. SPMO - Volatility Comparison
The current volatility for Baron Durable Advantage Fund Retail Shares (BDAFX) is 5.36%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 6.82%. This indicates that BDAFX experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDAFX | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 6.82% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 12.62% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.31% | 22.68% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.14% | 19.06% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.05% | 20.08% | +1.97% |