BGRFX vs. MMGPX
BGRFX (Baron Growth Fund) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, BGRFX returned -4.63%/yr vs -6.26%/yr for MMGPX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. BGRFX charges 1.29%/yr vs 0.04%/yr for MMGPX.
Performance
BGRFX vs. MMGPX - 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 MMGPX's -0.96% 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%
MMGPX
- 1D
- 1.83%
- 1M
- -3.86%
- 6M
- 6.79%
- YTD
- -0.96%
- 1Y
- -12.68%
- 3Y*
- 20.01%
- 5Y*
- -6.26%
- 10Y*
- —
- ALL TIME*
- 14.84%
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 |
| $0.00 | $0.00 | $0.00 |
BGRFX vs. MMGPX - 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% | 24.40% |
MMGPX Morgan Stanley Discovery Portfolio | -0.96% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | 10.89% | 28.18% |
Correlation
The correlation between BGRFX and MMGPX is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.63 |
Over the past year, the correlation between BGRFX and MMGPX has dropped to 0.25 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
BGRFX vs. MMGPX — Risk / Return Rank
BGRFX
MMGPX
BGRFX vs. MMGPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and Morgan Stanley Discovery Portfolio (MMGPX). 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 | MMGPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.96 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | -0.38 | -0.18 |
| Martin ratioReturn relative to average drawdown | -0.94 | -0.72 | -0.22 |
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Drawdowns
BGRFX vs. MMGPX - Drawdown Comparison
The maximum BGRFX drawdown since its inception was -56.10%, smaller than the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for BGRFX and MMGPX.
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Drawdown Indicators
| BGRFX | MMGPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.10% | -75.38% | +19.28% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -27.79% | +3.93% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | -29.27% | -3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -35.02% | -72.70% | +37.68% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | — | — |
Current DrawdownCurrent decline from peak | -27.28% | -40.82% | +13.54% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -30.41% | +21.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.77% | 14.54% | +0.23% |
Volatility
BGRFX vs. MMGPX - Volatility Comparison
Baron Growth Fund (BGRFX) has a higher volatility of 10.19% compared to Morgan Stanley Discovery Portfolio (MMGPX) at 7.14%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than MMGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRFX | MMGPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 7.14% | +3.05% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 21.86% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.87% | 29.03% | -6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.92% | 39.84% | -18.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 35.11% | -13.64% |
BGRFX vs. MMGPX - Expense Ratio Comparison
BGRFX has a 1.29% expense ratio, which is higher than MMGPX's 0.04% expense ratio.
Dividends
BGRFX vs. MMGPX - Dividend Comparison
BGRFX's dividend yield for the trailing twelve months is around 22.48%, while MMGPX has not paid dividends to shareholders.
| 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% |
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BGRFX and MMGPX have a correlation of 0.25, 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 MMGPX (7.14%). In terms of maximum drawdown, BGRFX dropped -56.10% vs MMGPX's -75.38%.
MMGPX currently has the higher Sharpe Ratio (-0.36 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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