BGRFX vs. IWM
BGRFX (Baron Growth Fund) and IWM (iShares Russell 2000 ETF) are both funds - BGRFX is a Mid Cap Growth Equities fund managed by Baron Capital, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, BGRFX returned 7.24%/yr vs 10.70%/yr for IWM. Their correlation of 0.85 means they have usually moved in the same direction. BGRFX charges 1.29%/yr vs 0.19%/yr for IWM.
Performance
BGRFX vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, BGRFX achieves a -7.22% return, which is significantly lower than IWM's 18.79% return. Over the past 10 years, BGRFX has underperformed IWM with an annualized return of 7.24%, while IWM has yielded a comparatively higher 10.70% annualized return.
BGRFX
- 1D
- -4.18%
- 1M
- 2.01%
- 6M
- -4.70%
- YTD
- -7.22%
- 1Y
- -14.10%
- 3Y*
- -5.92%
- 5Y*
- -4.58%
- 10Y*
- 7.24%
- ALL TIME*
- 9.61%
IWM
- 1D
- -0.48%
- 1M
- -2.14%
- 6M
- 12.62%
- YTD
- 18.79%
- 1Y
- 36.90%
- 3Y*
- 15.11%
- 5Y*
- 6.99%
- 10Y*
- 10.70%
- ALL TIME*
- 8.73%
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 |
| $6.67B | $6.32B | $7.45B |
BGRFX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGRFX Baron Growth Fund | -7.22% | -14.51% | 4.62% | 14.68% | -22.55% | 19.82% | 32.77% | 40.18% | -2.93% | 27.14% |
IWM iShares Russell 2000 ETF | 18.79% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between BGRFX and IWM is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.85 |
Over the past year, the correlation between BGRFX and IWM has dropped to 0.20 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
BGRFX vs. IWM — Risk / Return Rank
BGRFX
IWM
BGRFX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and iShares Russell 2000 ETF (IWM). 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 | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.39 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.30 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 3.11 | -3.74 |
| Martin ratioReturn relative to average drawdown | -1.06 | 11.02 | -12.08 |
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Drawdowns
BGRFX vs. IWM - Drawdown Comparison
The maximum BGRFX drawdown since its inception was -56.10%, roughly equal to the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for BGRFX and IWM.
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Drawdown Indicators
| BGRFX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.10% | -59.05% | +2.95% |
Max Drawdown (1Y)Largest decline over 1 year | -24.67% | -11.03% | -13.64% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | -27.50% | -5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -35.02% | -31.91% | -3.11% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -41.13% | -0.01% |
Current DrawdownCurrent decline from peak | -27.48% | -3.08% | -24.40% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -10.71% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.71% | 3.11% | +11.60% |
Volatility
BGRFX vs. IWM - Volatility Comparison
Baron Growth Fund (BGRFX) has a higher volatility of 10.92% compared to iShares Russell 2000 ETF (IWM) at 3.82%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRFX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.92% | 3.82% | +7.10% |
Volatility (6M)Calculated over the trailing 6-month period | 19.46% | 14.12% | +5.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.83% | 19.41% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.91% | 22.48% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.46% | 23.01% | -1.55% |
BGRFX vs. IWM - Expense Ratio Comparison
BGRFX has a 1.29% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
BGRFX vs. IWM - Dividend Comparison
BGRFX's dividend yield for the trailing twelve months is around 22.54%, more than IWM's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGRFX Baron Growth Fund | 22.54% | 20.91% | 12.05% | 1.79% | 6.02% | 7.73% | 4.64% | 3.68% | 8.38% | 11.68% | 12.84% | 9.53% |
IWM iShares Russell 2000 ETF | 0.91% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
BGRFX and IWM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGRFX has higher volatility (10.92%) compared to IWM (3.82%). In terms of maximum drawdown, BGRFX dropped -56.10% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (1.77 vs -0.68), 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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