BGRFX vs. BDFIX
BGRFX (Baron Growth Fund) and BDFIX (Baron Discovery Fund) are both mutual funds - BGRFX is a Mid Cap Growth Equities fund managed by Baron Capital, while BDFIX is a Small Cap Growth Equities fund managed by Baron Capital. Over the past 10 years, BGRFX returned 7.18%/yr vs 13.00%/yr for BDFIX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. BGRFX charges 1.29%/yr vs 1.05%/yr for BDFIX.
Performance
BGRFX vs. BDFIX - Performance Comparison
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Returns By Period
In the year-to-date period, BGRFX achieves a -6.97% return, which is significantly lower than BDFIX's 4.29% return. Over the past 10 years, BGRFX has underperformed BDFIX with an annualized return of 7.18%, while BDFIX has yielded a comparatively higher 13.00% 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%
BDFIX
- 1D
- 3.18%
- 1M
- -1.93%
- 6M
- 7.38%
- YTD
- 4.29%
- 1Y
- 8.87%
- 3Y*
- 12.16%
- 5Y*
- 0.19%
- 10Y*
- 13.00%
- ALL TIME*
- 12.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BDFIX Baron Discovery Fund | $0.00 | $0.00 | $0.00 |
BGRFX Baron Growth Fund | $0.00 | $0.00 | $0.00 |
BGRFX vs. BDFIX - 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% |
BDFIX Baron Discovery Fund | 4.29% | 10.96% | 16.28% | 22.58% | -35.12% | 4.84% | 66.15% | 26.85% | 0.66% | 35.84% |
Correlation
The correlation between BGRFX and BDFIX is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.79 |
Over the past year, the correlation between BGRFX and BDFIX has dropped to 0.40 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.
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Return for Risk
BGRFX vs. BDFIX — Risk / Return Rank
BGRFX
BDFIX
BGRFX vs. BDFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and Baron Discovery Fund (BDFIX). 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 | BDFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.10 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 0.61 | -1.17 |
| Martin ratioReturn relative to average drawdown | -0.94 | 1.79 | -2.73 |
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Drawdowns
BGRFX vs. BDFIX - Drawdown Comparison
The maximum BGRFX drawdown since its inception was -56.10%, which is greater than BDFIX's maximum drawdown of -46.39%. Use the drawdown chart below to compare losses from any high point for BGRFX and BDFIX.
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Drawdown Indicators
| BGRFX | BDFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.10% | -46.39% | -9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -17.94% | -5.92% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | -24.26% | -8.77% |
Max Drawdown (5Y)Largest decline over 5 years | -35.02% | -45.38% | +10.36% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -46.39% | +5.25% |
Current DrawdownCurrent decline from peak | -27.28% | -5.17% | -22.11% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -14.51% | +5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.77% | 6.08% | +8.69% |
Volatility
BGRFX vs. BDFIX - Volatility Comparison
Baron Growth Fund (BGRFX) has a higher volatility of 10.19% compared to Baron Discovery Fund (BDFIX) at 6.10%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than BDFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRFX | BDFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 6.10% | +4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 15.59% | +3.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.87% | 20.37% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.92% | 26.41% | -5.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 25.27% | -3.80% |
BGRFX vs. BDFIX - Expense Ratio Comparison
BGRFX has a 1.29% expense ratio, which is higher than BDFIX's 1.05% expense ratio.
Dividends
BGRFX vs. BDFIX - Dividend Comparison
BGRFX's dividend yield for the trailing twelve months is around 22.48%, while BDFIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDFIX Baron Discovery Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.68% | 3.05% | 0.13% | 8.78% | 0.21% | 1.97% | 0.00% |
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 BDFIX have a correlation of 0.40, 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 BDFIX (6.10%). In terms of maximum drawdown, BGRFX dropped -56.10% vs BDFIX's -46.39%.
BDFIX currently has the higher Sharpe Ratio (0.54 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.
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