BFGUX vs. BFGIX

Last updated Jul 29, 2026

BFGUX (Baron Focused Growth Fund R6 Shares) and BFGIX (Baron Focused Growth Fund Institutional Shares) are both Mid Cap Growth Equities funds from Baron Capital. Both are actively managed. Over the past 5 years, BFGUX returned 11.61%/yr vs 11.61%/yr for BFGIX. Their 1.00 correlation means they have historically moved very closely together. Both charge a 1.05% expense ratio.

Performance

BFGUX vs. BFGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Focused Growth Fund R6 Shares (BFGUX) and Baron Focused Growth Fund Institutional Shares (BFGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with BFGUX at 0.13% and BFGIX at 0.13%.

BFGUX

• 1D: 3.47%
• 1M: -4.81%
• 6M: 2.26%
• YTD: 0.13%
• 1Y: 13.67%
• 3Y*: 17.19%
• 5Y*: 11.61%
• 10Y*: —
• ALL TIME*: 20.66%

BFGIX

• 1D: 2.51%
• 1M: -4.81%
• 6M: 2.26%
• YTD: 0.13%
• 1Y: 13.67%
• 3Y*: 17.19%
• 5Y*: 11.61%
• 10Y*: 20.57%
• ALL TIME*: 16.63%

*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)
BFGIX Baron Focused Growth Fund Institutional Shares	$0.00	$0.00	$0.00
BFGUX Baron Focused Growth Fund R6 Shares	$0.00	$0.00	$0.00

BFGUX vs. BFGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFGUX Baron Focused Growth Fund R6 Shares	0.13%	22.26%	29.85%	27.75%	-28.03%	18.99%	122.96%	30.33%	4.07%	26.67%
BFGIX Baron Focused Growth Fund Institutional Shares	0.13%	22.26%	29.85%	27.78%	-28.05%	19.00%	122.92%	30.34%	4.08%	26.58%

Correlation

The correlation between BFGUX and BFGIX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (All Time) Calculated using the full available price history since Aug 31, 2016	1.00

The correlation between BFGUX and BFGIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

BFGUX vs. BFGIX — Risk / Return Rank

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

BFGUX

BFGUX Risk / Return Rank: 19
BFGUX Sharpe Ratio Rank: 15
BFGUX Sortino Ratio Rank: 20
BFGUX Omega Ratio Rank: 20
BFGUX Calmar Ratio Rank: 17
BFGUX Martin Ratio Rank: 20

BFGIX

BFGIX Risk / Return Rank: 19
BFGIX Sharpe Ratio Rank: 15
BFGIX Sortino Ratio Rank: 20
BFGIX Omega Ratio Rank: 20
BFGIX Calmar Ratio Rank: 17
BFGIX Martin Ratio Rank: 20

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.

BFGUX vs. BFGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Focused Growth Fund R6 Shares (BFGUX) and Baron Focused Growth Fund Institutional Shares (BFGIX). 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.

	BFGUX	BFGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.61	0.61	0.00
Sortino ratio: Return per unit of downside risk	1.17	1.17	0.00
Omega ratio: Gain probability vs. loss probability	1.14	1.14	0.00
Calmar ratio: Return relative to maximum drawdown	0.85	0.85	0.00
Martin ratio: Return relative to average drawdown	2.95	2.88	+0.07

BFGUX vs. BFGIX - Sharpe Ratio Comparison

The current BFGUX Sharpe Ratio is 0.61, which is comparable to the BFGIX Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of BFGUX and BFGIX, 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

BFGUX vs. BFGIX - Drawdown Comparison

The maximum BFGUX drawdown since its inception was -43.60%, roughly equal to the maximum BFGIX drawdown of -43.62%. Use the drawdown chart below to compare losses from any high point for BFGUX and BFGIX.

Drawdown Indicators

	BFGUX	BFGIX	Difference
Max Drawdown Largest peak-to-trough decline	-43.60%	-43.62%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-16.48%	-16.48%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-20.98%	-20.97%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.71%	-35.71%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.62%	—
Current Drawdown Current decline from peak	-13.59%	-13.59%	0.00%
Average Drawdown Average peak-to-trough decline	-9.65%	-7.86%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	4.84%	-0.10%

Volatility

BFGUX vs. BFGIX - Volatility Comparison

Baron Focused Growth Fund R6 Shares (BFGUX) has a higher volatility of 7.56% compared to Baron Focused Growth Fund Institutional Shares (BFGIX) at 6.97%. This indicates that BFGUX's price experiences larger fluctuations and is considered to be riskier than BFGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFGUX	BFGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	6.97%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	17.06%	16.93%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	23.06%	22.91%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.02%	22.96%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	24.26%	+0.13%

BFGUX vs. BFGIX - Expense Ratio Comparison

Both BFGUX and BFGIX have an expense ratio of 1.05%.

Dividends

BFGUX vs. BFGIX - Dividend Comparison

Neither BFGUX nor BFGIX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFGIX Baron Focused Growth Fund Institutional Shares	0.00%	0.00%	0.00%	0.00%	11.79%	15.01%	2.78%	1.74%	1.05%	2.07%	5.92%	6.01%
BFGUX Baron Focused Growth Fund R6 Shares	0.00%	0.00%	0.00%	0.00%	11.78%	15.00%	2.78%	1.74%	1.05%	2.08%	5.92%	0.00%

Frequently Asked Questions

Can I hold both BFGUX and BFGIX in my portfolio?

With a correlation of 1.00, BFGUX and BFGIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BFGUX or BFGIX?

BFGUX has higher volatility (7.56%) compared to BFGIX (6.97%). In terms of maximum drawdown, BFGUX dropped -43.60% vs BFGIX's -43.62%.

Which has better risk-adjusted returns?

BFGIX currently has the higher Sharpe Ratio (0.61 vs 0.61), 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.