BGRFX vs. BDAIX

Last updated Jun 4, 2026

BGRFX (Baron Growth Fund) and BDAIX (Baron Durable Advantage Fund) are both mutual funds - BGRFX 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, BGRFX returned -4.22%/yr vs 15.51%/yr for BDAIX. A 0.75 correlation means they provide meaningful diversification when combined. BGRFX charges 1.29%/yr vs 1.48%/yr for BDAIX.

Performance

BGRFX vs. BDAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Growth Fund (BGRFX) 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, BGRFX achieves a -11.42% return, which is significantly lower than BDAIX's 6.50% return.

BGRFX

• 1D: -2.94%
• 1M: 3.18%
• YTD: -11.42%
• 6M: -10.03%
• 1Y: -20.59%
• 3Y*: -5.72%
• 5Y*: -4.22%
• 10Y*: 7.14%

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)

BGRFX vs. BDAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BGRFX Baron Growth Fund	-11.42%	-14.51%	4.62%	14.68%	-22.55%	19.82%	32.77%	19.84%
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 BGRFX and BDAIX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019	0.75

Over the past year, the correlation between BGRFX and BDAIX has dropped to 0.28 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

BGRFX vs. BDAIX — Risk / Return Rank

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

BGRFX

BGRFX Risk / Return Rank: 0
BGRFX Sharpe Ratio Rank: 0
BGRFX Sortino Ratio Rank: 0
BGRFX Omega Ratio Rank: 1
BGRFX Calmar Ratio Rank: 0
BGRFX Martin Ratio Rank: 1

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.

BGRFX vs. BDAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) 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.

	BGRFX	BDAIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.08	1.38	-2.46
Sortino ratio: Return per unit of downside risk	-1.47	1.95	-3.42
Omega ratio: Gain probability vs. loss probability	0.83	1.25	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.76	1.49	-2.24
Martin ratio: Return relative to average drawdown	-1.36	5.65	-7.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGRFX vs. BDAIX - Sharpe Ratio Comparison

The current BGRFX Sharpe Ratio is -1.08, which is lower than the BDAIX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of BGRFX 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

	BGRFX	BDAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.08	1.38	-2.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.77	-0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.86	-0.38

Drawdowns

BGRFX vs. BDAIX - Drawdown Comparison

The maximum BGRFX drawdown since its inception was -56.10%, which is greater than BDAIX's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for BGRFX and BDAIX.

Drawdown Indicators

	BGRFX	BDAIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.10%	-33.57%	-22.53%
Max Drawdown (1Y) Largest decline over 1 year	-26.95%	-14.82%	-12.13%
Max Drawdown (3Y) Largest decline over 3 years	-32.68%	-21.79%	-10.89%
Max Drawdown (5Y) Largest decline over 5 years	-34.70%	-30.25%	-4.45%
Max Drawdown (10Y) Largest decline over 10 years	-41.14%	—	—
Current Drawdown Current decline from peak	-30.76%	-0.56%	-30.20%
Average Drawdown Average peak-to-trough decline	-8.84%	-5.82%	-3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.96%	3.89%	+11.07%

Volatility

BGRFX vs. BDAIX - Volatility Comparison

Baron Growth Fund (BGRFX) has a higher volatility of 7.60% compared to Baron Durable Advantage Fund (BDAIX) at 3.29%. This indicates that BGRFX'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

	BGRFX	BDAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	3.29%	+4.31%
Volatility (6M) Calculated over the trailing 6-month period	15.12%	12.14%	+2.98%
Volatility (1Y) Calculated over the trailing 1-year period	18.99%	15.96%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.14%	20.25%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	21.97%	-0.82%

BGRFX vs. BDAIX - Expense Ratio Comparison

BGRFX has a 1.29% expense ratio, which is lower than BDAIX's 1.48% expense ratio.

Dividends

BGRFX vs. BDAIX - Dividend Comparison

BGRFX's dividend yield for the trailing twelve months is around 23.60%, while BDAIX has not 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%
BGRFX Baron Growth Fund	23.60%	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

Can I hold both BGRFX and BDAIX in my portfolio?

BGRFX and BDAIX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGRFX or BDAIX?

BGRFX has higher volatility (7.60%) compared to BDAIX (3.29%). In terms of maximum drawdown, BGRFX dropped -56.10% vs BDAIX's -33.57%.

Which has better risk-adjusted returns?

BDAIX currently has the higher Sharpe Ratio (1.38 vs -1.08), 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.