BGRFX vs. DIA
BGRFX (Baron Growth Fund) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both funds - BGRFX is a Mid Cap Growth Equities fund managed by Baron Capital, while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Over the past 10 years, BGRFX returned 7.18%/yr vs 13.46%/yr for DIA. Their 0.75 correlation means they have sometimes moved together and sometimes differently. BGRFX charges 1.29%/yr vs 0.16%/yr for DIA.
Performance
BGRFX vs. DIA - 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 DIA's 13.33% return. Over the past 10 years, BGRFX has underperformed DIA with an annualized return of 7.18%, while DIA has yielded a comparatively higher 13.46% 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%
DIA
- 1D
- 1.73%
- 1M
- 2.41%
- 6M
- 10.59%
- YTD
- 13.33%
- 1Y
- 24.17%
- 3Y*
- 17.41%
- 5Y*
- 10.96%
- 10Y*
- 13.46%
- ALL TIME*
- 9.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BGRFX Baron Growth Fund | $0.00 | $0.00 | $0.00 |
| $2.36B | $2.05B | $2.43B |
BGRFX vs. DIA - 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% |
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 13.33% | 14.71% | 14.82% | 16.02% | -7.02% | 20.83% | 9.59% | 24.70% | -3.74% | 28.08% |
Correlation
The correlation between BGRFX and DIA is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.73 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 1998 | 0.75 |
Over the past year, the correlation between BGRFX and DIA has dropped to 0.37 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
BGRFX vs. DIA — Risk / Return Rank
BGRFX
DIA
BGRFX vs. DIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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 | DIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.54 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.35 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.49 | -3.05 |
| Martin ratioReturn relative to average drawdown | -0.94 | 9.63 | -10.57 |
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Drawdowns
BGRFX vs. DIA - Drawdown Comparison
The maximum BGRFX drawdown since its inception was -56.10%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for BGRFX and DIA.
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Drawdown Indicators
| BGRFX | DIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.10% | -51.87% | -4.23% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -9.76% | -14.10% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | -15.95% | -17.08% |
Max Drawdown (5Y)Largest decline over 5 years | -35.02% | -20.76% | -14.26% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -36.70% | -4.44% |
Current DrawdownCurrent decline from peak | -27.28% | 0.00% | -27.28% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -7.10% | -1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.77% | 2.52% | +12.25% |
Volatility
BGRFX vs. DIA - Volatility Comparison
Baron Growth Fund (BGRFX) has a higher volatility of 10.19% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.17%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRFX | DIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 4.17% | +6.02% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 9.99% | +9.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.87% | 12.59% | +10.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.92% | 14.86% | +6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 17.55% | +3.92% |
BGRFX vs. DIA - Expense Ratio Comparison
BGRFX has a 1.29% expense ratio, which is higher than DIA's 0.16% expense ratio.
Dividends
BGRFX vs. DIA - Dividend Comparison
BGRFX's dividend yield for the trailing twelve months is around 22.48%, more than DIA's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.33% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
Frequently Asked Questions
BGRFX and DIA have a correlation of 0.37, 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 DIA (4.17%). In terms of maximum drawdown, BGRFX dropped -56.10% vs DIA's -51.87%.
DIA currently has the higher Sharpe Ratio (1.94 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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