BDFIX vs. BGRIX
Compare and contrast key facts about Baron Discovery Fund (BDFIX) and Baron Growth Fund Institutional Shares (BGRIX).
BDFIX is managed by Baron Capital Group, Inc.. It was launched on Sep 30, 2013. BGRIX is managed by Baron Capital Group, Inc.. It was launched on May 29, 2009.
Performance
BDFIX vs. BGRIX - Performance Comparison
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BDFIX vs. BGRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDFIX Baron Discovery Fund | -13.78% | 10.96% | 16.28% | 22.58% | -35.12% | 4.84% | 66.15% | 26.85% | 0.66% | 35.84% |
BGRIX Baron Growth Fund Institutional Shares | -13.60% | -14.21% | 4.90% | 14.97% | -22.35% | 20.13% | 33.10% | 40.54% | -2.68% | 27.45% |
Returns By Period
The year-to-date returns for both investments are quite close, with BDFIX having a -13.78% return and BGRIX slightly higher at -13.60%. Over the past 10 years, BDFIX has outperformed BGRIX with an annualized return of 12.88%, while BGRIX has yielded a comparatively lower 7.39% annualized return.
BDFIX
- 1D
- -0.57%
- 1M
- -12.67%
- YTD
- -13.78%
- 6M
- -13.61%
- 1Y
- 1.96%
- 3Y*
- 7.04%
- 5Y*
- -2.90%
- 10Y*
- 12.88%
BGRIX
- 1D
- 1.46%
- 1M
- -7.79%
- YTD
- -13.60%
- 6M
- -15.95%
- 1Y
- -22.59%
- 3Y*
- -6.07%
- 5Y*
- -3.75%
- 10Y*
- 7.39%
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BDFIX vs. BGRIX - Expense Ratio Comparison
Both BDFIX and BGRIX have an expense ratio of 1.05%.
Return for Risk
BDFIX vs. BGRIX — Risk / Return Rank
BDFIX
BGRIX
BDFIX vs. BGRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Discovery Fund (BDFIX) and Baron Growth Fund Institutional Shares (BGRIX). 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.
| BDFIX | BGRIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.06 | -1.05 | +1.10 |
Sortino ratioReturn per unit of downside risk | 0.27 | -1.45 | +1.71 |
Omega ratioGain probability vs. loss probability | 1.03 | 0.82 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.92 | +0.87 |
Martin ratioReturn relative to average drawdown | -0.19 | -1.98 | +1.79 |
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
| BDFIX | BGRIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | -1.05 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | -0.19 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.35 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.53 | -0.06 |
Correlation
The correlation between BDFIX and BGRIX is 0.81, 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
BDFIX vs. BGRIX - Dividend Comparison
BDFIX has not paid dividends to shareholders, while BGRIX's dividend yield for the trailing twelve months is around 22.82%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDFIX Baron Discovery Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.68% | 3.05% | 0.13% | 8.78% | 0.21% | 1.97% | 0.00% |
BGRIX Baron Growth Fund Institutional Shares | 22.82% | 19.72% | 11.30% | 1.69% | 5.72% | 7.38% | 4.45% | 3.55% | 8.12% | 11.36% | 12.56% | 9.37% |
Drawdowns
BDFIX vs. BGRIX - Drawdown Comparison
The maximum BDFIX drawdown since its inception was -46.39%, which is greater than BGRIX's maximum drawdown of -41.12%. Use the drawdown chart below to compare losses from any high point for BDFIX and BGRIX.
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Drawdown Indicators
| BDFIX | BGRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.39% | -41.12% | -5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -17.94% | -25.39% | +7.45% |
Max Drawdown (5Y)Largest decline over 5 years | -45.38% | -34.60% | -10.78% |
Max Drawdown (10Y)Largest decline over 10 years | -46.39% | -41.12% | -5.27% |
Current DrawdownCurrent decline from peak | -21.60% | -31.67% | +10.07% |
Average DrawdownAverage peak-to-trough decline | -14.64% | -7.30% | -7.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 11.76% | -6.90% |
Volatility
BDFIX vs. BGRIX - Volatility Comparison
Baron Discovery Fund (BDFIX) has a higher volatility of 6.26% compared to Baron Growth Fund Institutional Shares (BGRIX) at 5.32%. This indicates that BDFIX's price experiences larger fluctuations and is considered to be riskier than BGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDFIX | BGRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 5.32% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 13.70% | 13.13% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.03% | 21.18% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.33% | 19.87% | +6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.13% | 20.96% | +4.17% |