BFGFX vs. BDAIX

Last updated Jun 4, 2026

BFGFX (Baron Focused Growth Fund) and BDAIX (Baron Durable Advantage Fund) are both mutual funds - BFGFX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc., while BDAIX is a Large Cap Growth Equities fund managed by Baron Capital Group, Inc.. Over the past 5 years, BFGFX returned 12.80%/yr vs 15.51%/yr for BDAIX. A 0.72 correlation means they provide meaningful diversification when combined. BFGFX charges 1.32%/yr vs 1.48%/yr for BDAIX.

Performance

BFGFX vs. BDAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Focused Growth Fund (BFGFX) and Baron Durable Advantage Fund (BDAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFGFX achieves a 1.84% return, which is significantly lower than BDAIX's 6.50% return.

BFGFX

• 1D: -1.89%
• 1M: 6.00%
• YTD: 1.84%
• 6M: 12.90%
• 1Y: 21.99%
• 3Y*: 20.72%
• 5Y*: 12.80%
• 10Y*: 20.90%

BDAIX

• 1D: -0.34%
• 1M: 1.95%
• YTD: 6.50%
• 6M: 6.95%
• 1Y: 21.35%
• 3Y*: 22.86%
• 5Y*: 15.51%
• 10Y*: —

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

BFGFX vs. BDAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BFGFX Baron Focused Growth Fund	1.84%	21.94%	29.52%	27.40%	-28.21%	18.67%	122.38%	18.30%
BDAIX Baron Durable Advantage Fund	6.50%	16.56%	27.14%	45.51%	-24.81%	32.17%	20.32%	27.34%

Correlation

The correlation between BFGFX and BDAIX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019	0.72

The correlation between BFGFX and BDAIX shifts across timeframes, from 0.57 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BFGFX vs. BDAIX — Risk / Return Rank

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

BFGFX

BFGFX Risk / Return Rank: 26
BFGFX Sharpe Ratio Rank: 17
BFGFX Sortino Ratio Rank: 28
BFGFX Omega Ratio Rank: 23
BFGFX Calmar Ratio Rank: 38
BFGFX Martin Ratio Rank: 25

BDAIX

BDAIX Risk / Return Rank: 22
BDAIX Sharpe Ratio Rank: 24
BDAIX Sortino Ratio Rank: 22
BDAIX Omega Ratio Rank: 24
BDAIX Calmar Ratio Rank: 17
BDAIX Martin Ratio Rank: 22

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.

BFGFX vs. BDAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Focused Growth Fund (BFGFX) and Baron Durable Advantage Fund (BDAIX). 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.

	BFGFX	BDAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.38	-0.19
Sortino ratio: Return per unit of downside risk	2.18	1.95	+0.23
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	2.32	1.49	+0.84
Martin ratio: Return relative to average drawdown	6.26	5.65	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFGFX vs. BDAIX - Sharpe Ratio Comparison

The current BFGFX Sharpe Ratio is 1.19, which is comparable to the BDAIX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of BFGFX and BDAIX, 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

	BFGFX	BDAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.38	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.77	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.86	-0.16

Drawdowns

BFGFX vs. BDAIX - Drawdown Comparison

The maximum BFGFX drawdown since its inception was -59.52%, which is greater than BDAIX's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for BFGFX and BDAIX.

Drawdown Indicators

	BFGFX	BDAIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.52%	-33.57%	-25.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.74%	-14.82%	+5.08%
Max Drawdown (3Y) Largest decline over 3 years	-21.00%	-21.79%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-35.93%	-30.25%	-5.68%
Max Drawdown (10Y) Largest decline over 10 years	-43.62%	—	—
Current Drawdown Current decline from peak	-1.89%	-0.56%	-1.33%
Average Drawdown Average peak-to-trough decline	-12.37%	-5.82%	-6.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.89%	-0.28%

Volatility

BFGFX vs. BDAIX - Volatility Comparison

Baron Focused Growth Fund (BFGFX) has a higher volatility of 5.18% compared to Baron Durable Advantage Fund (BDAIX) at 3.29%. This indicates that BFGFX's price experiences larger fluctuations and is considered to be riskier than BDAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFGFX	BDAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.18%	3.29%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	15.67%	12.14%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	15.96%	+3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.34%	20.25%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.99%	21.97%	+2.02%

BFGFX vs. BDAIX - Expense Ratio Comparison

BFGFX has a 1.32% expense ratio, which is lower than BDAIX's 1.48% expense ratio.

Dividends

BFGFX vs. BDAIX - Dividend Comparison

Neither BFGFX nor BDAIX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDAIX Baron Durable Advantage Fund	0.00%	0.00%	0.23%	0.10%	0.00%	0.33%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
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 BDAIX in my portfolio?

BFGFX and BDAIX have a correlation of 0.57, 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 BDAIX?

BFGFX has higher volatility (5.18%) compared to BDAIX (3.29%). In terms of maximum drawdown, BFGFX dropped -59.52% vs BDAIX's -33.57%.

Which has better risk-adjusted returns?

BDAIX currently has the higher Sharpe Ratio (1.38 vs 1.19), 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.