BGRFX vs. BARAX
BGRFX (Baron Growth Fund) and BARAX (Baron Asset Fund) are both Mid Cap Growth Equities funds from Baron Capital. Over the past 10 years, BGRFX returned 7.18%/yr vs 10.40%/yr for BARAX. Their correlation of 0.93 means they have usually moved in the same direction. Both charge a 1.29% expense ratio.
Performance
BGRFX vs. BARAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BGRFX achieves a -6.97% return, which is significantly lower than BARAX's -0.92% return. Over the past 10 years, BGRFX has underperformed BARAX with an annualized return of 7.18%, while BARAX has yielded a comparatively higher 10.40% annualized return.
BGRFX
- 1D
- 0.77%
- 1M
- 2.29%
- 6M
- 1.04%
- YTD
- -6.97%
- 1Y
- -15.70%
- 3Y*
- -4.81%
- 5Y*
- -4.63%
- 10Y*
- 7.18%
- ALL TIME*
- 9.62%
BARAX
- 1D
- 2.65%
- 1M
- -8.95%
- 6M
- 3.43%
- YTD
- -0.92%
- 1Y
- 1.82%
- 3Y*
- 8.25%
- 5Y*
- 0.52%
- 10Y*
- 10.40%
- ALL TIME*
- 9.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BARAX Baron Asset Fund | $0.00 | $0.00 | $0.00 |
BGRFX Baron Growth Fund | $0.00 | $0.00 | $0.00 |
BGRFX vs. BARAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGRFX Baron Growth Fund | -6.97% | -14.51% | 4.62% | 14.68% | -22.55% | 19.82% | 32.77% | 40.18% | -2.93% | 27.14% |
BARAX Baron Asset Fund | -0.92% | 7.89% | 10.35% | 17.05% | -26.06% | 13.88% | 32.98% | 37.64% | -0.15% | 26.18% |
Correlation
The correlation between BGRFX and BARAX is 0.60, 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. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 1995 | 0.93 |
Over the past year, the correlation between BGRFX and BARAX has dropped to 0.60 - well below their long-term average of 0.93, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BGRFX vs. BARAX — Risk / Return Rank
BGRFX
BARAX
BGRFX vs. BARAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and Baron Asset Fund (BARAX). 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.
| BGRFX | BARAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.07 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 0.28 | -0.85 |
| Martin ratioReturn relative to average drawdown | -0.94 | 0.74 | -1.68 |
Loading charts...
Drawdowns
BGRFX vs. BARAX - Drawdown Comparison
The maximum BGRFX drawdown since its inception was -56.10%, smaller than the maximum BARAX drawdown of -59.71%. Use the drawdown chart below to compare losses from any high point for BGRFX and BARAX.
Loading charts...
Drawdown Indicators
| BGRFX | BARAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.10% | -59.71% | +3.61% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -16.75% | -7.11% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | -17.82% | -15.21% |
Max Drawdown (5Y)Largest decline over 5 years | -35.02% | -37.53% | +2.51% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -37.53% | -3.61% |
Current DrawdownCurrent decline from peak | -27.28% | -14.19% | -13.09% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -11.41% | +2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.77% | 6.37% | +8.40% |
Volatility
BGRFX vs. BARAX - Volatility Comparison
Baron Growth Fund (BGRFX) has a higher volatility of 10.19% compared to Baron Asset Fund (BARAX) at 6.30%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than BARAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BGRFX | BARAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 6.30% | +3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 17.16% | +2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.87% | 21.04% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.92% | 20.57% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 20.26% | +1.21% |
BGRFX vs. BARAX - Expense Ratio Comparison
Both BGRFX and BARAX have an expense ratio of 1.29%.
Dividends
BGRFX vs. BARAX - Dividend Comparison
BGRFX's dividend yield for the trailing twelve months is around 22.48%, more than BARAX's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BARAX Baron Asset Fund | 11.62% | 11.51% | 19.23% | 3.48% | 0.01% | 7.65% | 3.05% | 1.78% | 7.42% | 7.25% | 4.88% | 11.50% |
BGRFX Baron Growth Fund | 22.48% | 20.91% | 12.05% | 1.79% | 6.02% | 7.73% | 4.64% | 3.68% | 8.38% | 11.68% | 12.84% | 9.53% |
Frequently Asked Questions
BGRFX and BARAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGRFX has higher volatility (10.19%) compared to BARAX (6.30%). In terms of maximum drawdown, BGRFX dropped -56.10% vs BARAX's -59.71%.
BARAX currently has the higher Sharpe Ratio (0.22 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.
Find the right allocation for BGRFX and BARAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer