BFGFX vs. ARKW

Last updated Aug 1, 2026

BFGFX (Baron Focused Growth Fund) and ARKW (ARK Next Generation Internet ETF) are both Mid Cap Growth Equities funds. Both are actively managed. Over the past 10 years, BFGFX returned 20.27%/yr vs 21.15%/yr for ARKW. Their 0.75 correlation means they have sometimes moved together and sometimes differently. BFGFX charges 1.31%/yr vs 0.76%/yr for ARKW.

Performance

BFGFX vs. ARKW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Focused Growth Fund (BFGFX) and ARK Next Generation Internet ETF (ARKW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFGFX achieves a -0.09% return, which is significantly higher than ARKW's -7.37% return. Both investments have delivered pretty close results over the past 10 years, with BFGFX having a 20.27% annualized return and ARKW not far ahead at 21.15%.

BFGFX

• 1D: -2.26%
• 1M: -8.19%
• 6M: 3.60%
• YTD: -0.09%
• 1Y: 16.60%
• 3Y*: 16.67%
• 5Y*: 10.85%
• 10Y*: 20.27%
• ALL TIME*: 13.61%

ARKW

• 1D: -1.02%
• 1M: -5.74%
• 6M: -0.05%
• YTD: -7.37%
• 1Y: -7.47%
• 3Y*: 27.92%
• 5Y*: -1.16%
• 10Y*: 21.15%
• ALL TIME*: 19.59%

*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)
ARKW ARK Next Generation Internet ETF	$8.60M	$12.21M	$13.95M
BFGFX Baron Focused Growth Fund	$0.00	$0.00	$0.00

BFGFX vs. ARKW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFGFX Baron Focused Growth Fund	-0.09%	21.94%	29.52%	27.40%	-28.21%	18.67%	122.38%	30.05%	3.76%	26.36%
ARKW ARK Next Generation Internet ETF	-7.37%	38.93%	42.27%	96.89%	-67.49%	-18.85%	157.44%	35.76%	4.24%	87.29%

Correlation

The correlation between BFGFX and ARKW 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.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014	0.75

The correlation between BFGFX and ARKW shifts across timeframes, from 0.58 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BFGFX vs. ARKW — Risk / Return Rank

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

BFGFX

BFGFX Risk / Return Rank: 20
BFGFX Sharpe Ratio Rank: 16
BFGFX Sortino Ratio Rank: 23
BFGFX Omega Ratio Rank: 22
BFGFX Calmar Ratio Rank: 18
BFGFX Martin Ratio Rank: 21

ARKW

ARKW Risk / Return Rank: 7
ARKW Sharpe Ratio Rank: 6
ARKW Sortino Ratio Rank: 7
ARKW Omega Ratio Rank: 6
ARKW Calmar Ratio Rank: 7
ARKW Martin Ratio Rank: 7

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.

BFGFX vs. ARKW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Focused Growth Fund (BFGFX) and ARK Next Generation Internet ETF (ARKW). 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.

	BFGFX	ARKW	Difference
Sharpe ratio: Return per unit of total volatility	0.61	-0.36	+0.97
Sortino ratio: Return per unit of downside risk	1.16	-0.29	+1.45
Omega ratio: Gain probability vs. loss probability	1.14	0.97	+0.17
Calmar ratio: Return relative to maximum drawdown	0.85	-0.33	+1.18
Martin ratio: Return relative to average drawdown	2.78	-0.62	+3.40

BFGFX vs. ARKW - Sharpe Ratio Comparison

The current BFGFX Sharpe Ratio is 0.61, which is higher than the ARKW Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of BFGFX and ARKW, 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

BFGFX vs. ARKW - Drawdown Comparison

The maximum BFGFX drawdown since its inception was -59.52%, smaller than the maximum ARKW drawdown of -80.52%. Use the drawdown chart below to compare losses from any high point for BFGFX and ARKW.

Drawdown Indicators

	BFGFX	ARKW	Difference
Max Drawdown Largest peak-to-trough decline	-59.52%	-80.52%	+21.00%
Max Drawdown (1Y) Largest decline over 1 year	-16.49%	-36.21%	+19.72%
Max Drawdown (3Y) Largest decline over 3 years	-21.00%	-36.21%	+15.21%
Max Drawdown (5Y) Largest decline over 5 years	-35.93%	-77.36%	+41.43%
Max Drawdown (10Y) Largest decline over 10 years	-43.62%	-80.52%	+36.90%
Current Drawdown Current decline from peak	-13.67%	-25.76%	+12.09%
Average Drawdown Average peak-to-trough decline	-12.32%	-23.95%	+11.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	19.34%	-14.29%

Volatility

BFGFX vs. ARKW - Volatility Comparison

The current volatility for Baron Focused Growth Fund (BFGFX) is 7.16%, while ARK Next Generation Internet ETF (ARKW) has a volatility of 8.84%. This indicates that BFGFX experiences smaller price fluctuations and is considered to be less risky than ARKW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFGFX	ARKW	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	8.84%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	17.27%	25.86%	-8.59%
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	33.57%	-10.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.99%	43.76%	-20.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.28%	37.82%	-13.54%

BFGFX vs. ARKW - Expense Ratio Comparison

BFGFX has a 1.31% expense ratio, which is higher than ARKW's 0.76% expense ratio.

Dividends

BFGFX vs. ARKW - Dividend Comparison

BFGFX has not paid dividends to shareholders, while ARKW's dividend yield for the trailing twelve months is around 1.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKW ARK Next Generation Internet ETF	1.72%	1.59%	0.00%	0.00%	0.00%	0.17%	1.29%	0.00%	13.05%	2.05%	0.00%	2.29%
BFGFX Baron Focused Growth Fund	0.00%	0.00%	0.00%	0.00%	12.28%	15.53%	2.85%	1.78%	1.07%	2.11%	6.02%	5.80%

Frequently Asked Questions

Can I hold both BFGFX and ARKW in my portfolio?

BFGFX and ARKW 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, BFGFX or ARKW?

ARKW has higher volatility (8.84%) compared to BFGFX (7.16%). In terms of maximum drawdown, BFGFX dropped -59.52% vs ARKW's -80.52%.

Which has better risk-adjusted returns?

BFGFX currently has the higher Sharpe Ratio (0.61 vs -0.36), 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.