BEXIX vs. BALFX

Last updated Jun 4, 2026

BEXIX (Baron Emerging Markets Fund) and BALFX (American Funds American Balanced Fund) are both mutual funds - BEXIX is a Emerging Markets Diversified fund managed by Baron Capital Group, Inc., while BALFX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, BEXIX returned 8.90%/yr vs 10.08%/yr for BALFX. A 0.65 correlation means they provide meaningful diversification when combined. BEXIX charges 1.12%/yr vs 0.62%/yr for BALFX.

Performance

BEXIX vs. BALFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Emerging Markets Fund (BEXIX) and American Funds American Balanced Fund (BALFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BEXIX achieves a 22.58% return, which is significantly higher than BALFX's 9.94% return. Over the past 10 years, BEXIX has underperformed BALFX with an annualized return of 8.90%, while BALFX has yielded a comparatively higher 10.08% annualized return.

BEXIX

• 1D: 0.90%
• 1M: 5.96%
• YTD: 22.58%
• 6M: 24.42%
• 1Y: 43.61%
• 3Y*: 21.20%
• 5Y*: 4.32%
• 10Y*: 8.90%

BALFX

• 1D: 0.24%
• 1M: 3.98%
• YTD: 9.94%
• 6M: 10.55%
• 1Y: 24.90%
• 3Y*: 17.50%
• 5Y*: 9.67%
• 10Y*: 10.08%

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

BEXIX vs. BALFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BEXIX Baron Emerging Markets Fund	22.58%	30.11%	7.91%	8.29%	-25.82%	-6.06%	29.71%	18.85%	-18.48%	40.63%
BALFX American Funds American Balanced Fund	9.94%	18.40%	14.91%	13.62%	-12.19%	15.69%	10.81%	18.50%	-3.54%	14.63%

Correlation

The correlation between BEXIX and BALFX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 5, 2011	0.65

The correlation between BEXIX and BALFX has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.

Return for Risk

BEXIX vs. BALFX — Risk / Return Rank

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

BEXIX

BEXIX Risk / Return Rank: 58
BEXIX Sharpe Ratio Rank: 59
BEXIX Sortino Ratio Rank: 50
BEXIX Omega Ratio Rank: 57
BEXIX Calmar Ratio Rank: 71
BEXIX Martin Ratio Rank: 56

BALFX

BALFX Risk / Return Rank: 85
BALFX Sharpe Ratio Rank: 89
BALFX Sortino Ratio Rank: 86
BALFX Omega Ratio Rank: 84
BALFX Calmar Ratio Rank: 79
BALFX Martin Ratio Rank: 86

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.

BEXIX vs. BALFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Emerging Markets Fund (BEXIX) and American Funds American Balanced Fund (BALFX). 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.

	BEXIX	BALFX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.93	-0.67
Sortino ratio: Return per unit of downside risk	2.97	4.09	-1.12
Omega ratio: Gain probability vs. loss probability	1.42	1.56	-0.14
Calmar ratio: Return relative to maximum drawdown	3.27	3.63	-0.36
Martin ratio: Return relative to average drawdown	11.26	16.41	-5.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BEXIX vs. BALFX - Sharpe Ratio Comparison

The current BEXIX Sharpe Ratio is 2.26, which is comparable to the BALFX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of BEXIX and BALFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BEXIX	BALFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.93	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.93	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.95	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.69	-0.30

Drawdowns

BEXIX vs. BALFX - Drawdown Comparison

The maximum BEXIX drawdown since its inception was -45.58%, which is greater than BALFX's maximum drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for BEXIX and BALFX.

Drawdown Indicators

	BEXIX	BALFX	Difference
Max Drawdown Largest peak-to-trough decline	-45.58%	-40.20%	-5.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-7.03%	-6.29%
Max Drawdown (3Y) Largest decline over 3 years	-16.63%	-10.67%	-5.96%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	-18.81%	-23.07%
Max Drawdown (10Y) Largest decline over 10 years	-45.58%	-22.34%	-23.24%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.78%	-4.16%	-9.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	1.55%	+2.31%

Volatility

BEXIX vs. BALFX - Volatility Comparison

Baron Emerging Markets Fund (BEXIX) has a higher volatility of 7.69% compared to American Funds American Balanced Fund (BALFX) at 2.65%. This indicates that BEXIX's price experiences larger fluctuations and is considered to be riskier than BALFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BEXIX	BALFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	2.65%	+5.04%
Volatility (6M) Calculated over the trailing 6-month period	16.07%	6.86%	+9.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.33%	8.72%	+10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	10.48%	+6.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.98%	10.66%	+7.32%

BEXIX vs. BALFX - Expense Ratio Comparison

BEXIX has a 1.12% expense ratio, which is higher than BALFX's 0.62% expense ratio.

Dividends

BEXIX vs. BALFX - Dividend Comparison

BEXIX's dividend yield for the trailing twelve months is around 1.67%, less than BALFX's 7.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALFX American Funds American Balanced Fund	7.49%	8.22%	7.14%	2.02%	2.24%	4.24%	4.31%	3.44%	5.30%	4.66%	4.18%	5.54%
BEXIX Baron Emerging Markets Fund	1.67%	2.04%	0.81%	0.69%	0.00%	1.88%	0.35%	0.46%	0.49%	0.45%	0.76%	0.39%

Frequently Asked Questions

Can I hold both BEXIX and BALFX in my portfolio?

BEXIX and BALFX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEXIX or BALFX?

BEXIX has higher volatility (7.69%) compared to BALFX (2.65%). In terms of maximum drawdown, BEXIX dropped -45.58% vs BALFX's -40.20%.

Which has better risk-adjusted returns?

BALFX currently has the higher Sharpe Ratio (2.93 vs 2.26), 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.