BGAIX vs. SPY
Compare and contrast key facts about Baron Global Advantage Fund (BGAIX) and State Street SPDR S&P 500 ETF (SPY).
BGAIX is managed by Baron Capital Group, Inc.. It was launched on Apr 29, 2012. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
BGAIX vs. SPY - Performance Comparison
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BGAIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGAIX Baron Global Advantage Fund | -4.48% | 27.53% | 26.42% | 25.56% | -51.56% | 0.90% | 79.46% | 45.45% | -3.66% | 49.82% |
SPY State Street SPDR S&P 500 ETF | -3.56% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, BGAIX achieves a -4.48% return, which is significantly lower than SPY's -3.56% return. Both investments have delivered pretty close results over the past 10 years, with BGAIX having a 14.01% annualized return and SPY not far ahead at 14.11%.
BGAIX
- 1D
- -0.12%
- 1M
- -3.16%
- YTD
- -4.48%
- 6M
- 0.55%
- 1Y
- 39.51%
- 3Y*
- 21.35%
- 5Y*
- -1.18%
- 10Y*
- 14.01%
SPY
- 1D
- 0.09%
- 1M
- -4.02%
- YTD
- -3.56%
- 6M
- -1.44%
- 1Y
- 23.60%
- 3Y*
- 18.37%
- 5Y*
- 11.88%
- 10Y*
- 14.11%
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BGAIX vs. SPY - Expense Ratio Comparison
BGAIX has a 0.90% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
BGAIX vs. SPY — Risk / Return Rank
BGAIX
SPY
BGAIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Global Advantage Fund (BGAIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| BGAIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 0.92 | +0.33 |
Sortino ratioReturn per unit of downside risk | 2.02 | 1.45 | +0.57 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.22 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.51 | +1.44 |
Martin ratioReturn relative to average drawdown | 9.62 | 7.11 | +2.51 |
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
| BGAIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 0.92 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.70 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.79 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.56 | -0.06 |
Correlation
The correlation between BGAIX and SPY is 0.76, 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
BGAIX vs. SPY - Dividend Comparison
BGAIX's dividend yield for the trailing twelve months is around 0.20%, less than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGAIX Baron Global Advantage Fund | 0.20% | 0.19% | 0.00% | 0.00% | 1.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.42% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BGAIX vs. SPY - Drawdown Comparison
The maximum BGAIX drawdown since its inception was -61.14%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BGAIX and SPY.
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Drawdown Indicators
| BGAIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.14% | -55.19% | -5.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.69% | -8.88% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -61.14% | -24.50% | -36.64% |
Max Drawdown (10Y)Largest decline over 10 years | -61.14% | -33.72% | -27.42% |
Current DrawdownCurrent decline from peak | -22.23% | -5.44% | -16.79% |
Average DrawdownAverage peak-to-trough decline | -17.04% | -9.09% | -7.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.57% | +0.96% |
Volatility
BGAIX vs. SPY - Volatility Comparison
Baron Global Advantage Fund (BGAIX) has a higher volatility of 6.64% compared to State Street SPDR S&P 500 ETF (SPY) at 5.28%. This indicates that BGAIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGAIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 5.28% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 16.63% | 9.49% | +7.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.35% | 19.06% | +6.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.28% | 17.05% | +13.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.67% | 17.92% | +8.75% |