BGRFX vs. OAKMX

Last updated Jun 4, 2026

BGRFX (Baron Growth Fund) and OAKMX (Oakmark Fund Investor Class) are both mutual funds - BGRFX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc., while OAKMX is a Large Cap Value Equities fund managed by Oakmark. Over the past 10 years, BGRFX returned 7.14%/yr vs 13.40%/yr for OAKMX. A 0.78 correlation means they provide meaningful diversification when combined. BGRFX charges 1.29%/yr vs 0.91%/yr for OAKMX.

Performance

BGRFX vs. OAKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Growth Fund (BGRFX) and Oakmark Fund Investor Class (OAKMX). 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 OAKMX's -0.93% return. Over the past 10 years, BGRFX has underperformed OAKMX with an annualized return of 7.14%, while OAKMX has yielded a comparatively higher 13.40% annualized 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%

OAKMX

• 1D: -0.79%
• 1M: -0.39%
• YTD: -0.93%
• 6M: 2.09%
• 1Y: 11.45%
• 3Y*: 15.03%
• 5Y*: 9.46%
• 10Y*: 13.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BGRFX vs. OAKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGRFX Baron Growth Fund	-11.42%	-14.51%	4.62%	14.68%	-22.55%	19.82%	32.77%	40.18%	-2.93%	27.14%
OAKMX Oakmark Fund Investor Class	-0.93%	14.13%	16.02%	30.92%	-13.38%	34.85%	12.90%	27.14%	-12.76%	21.12%

Correlation

The correlation between BGRFX and OAKMX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Aug 8, 1995	0.78

The correlation between BGRFX and OAKMX shifts across timeframes, from 0.66 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BGRFX vs. OAKMX — 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

OAKMX

OAKMX Risk / Return Rank: 15
OAKMX Sharpe Ratio Rank: 12
OAKMX Sortino Ratio Rank: 13
OAKMX Omega Ratio Rank: 12
OAKMX Calmar Ratio Rank: 23
OAKMX Martin Ratio Rank: 16

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. OAKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and Oakmark Fund Investor Class (OAKMX). 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	OAKMX	Difference
Sharpe ratio Return per unit of total volatility	-1.08	0.95	-2.02
Sortino ratio Return per unit of downside risk	-1.47	1.44	-2.91
Omega ratio Gain probability vs. loss probability	0.83	1.17	-0.34
Calmar ratio Return relative to maximum drawdown	-0.76	1.76	-2.52
Martin ratio Return relative to average drawdown	-1.36	4.53	-5.89
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. OAKMX - Sharpe Ratio Comparison

The current BGRFX Sharpe Ratio is -1.08, which is lower than the OAKMX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of BGRFX and OAKMX, 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	OAKMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.08	0.95	-2.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.52	-0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.66	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.71	-0.23

Drawdowns

BGRFX vs. OAKMX - Drawdown Comparison

The maximum BGRFX drawdown since its inception was -56.10%, roughly equal to the maximum OAKMX drawdown of -56.19%. Use the drawdown chart below to compare losses from any high point for BGRFX and OAKMX.

Drawdown Indicators

	BGRFX	OAKMX	Difference
Max Drawdown Largest peak-to-trough decline	-56.10%	-56.19%	+0.09%
Max Drawdown (1Y) Largest decline over 1 year	-26.95%	-6.98%	-19.97%
Max Drawdown (3Y) Largest decline over 3 years	-32.68%	-17.05%	-15.63%
Max Drawdown (5Y) Largest decline over 5 years	-34.70%	-23.68%	-11.02%
Max Drawdown (10Y) Largest decline over 10 years	-41.14%	-41.43%	+0.29%
Current Drawdown Current decline from peak	-30.76%	-3.47%	-27.29%
Average Drawdown Average peak-to-trough decline	-8.84%	-6.39%	-2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.96%	2.71%	+12.25%

Volatility

BGRFX vs. OAKMX - Volatility Comparison

Baron Growth Fund (BGRFX) has a higher volatility of 7.60% compared to Oakmark Fund Investor Class (OAKMX) at 2.93%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than OAKMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGRFX	OAKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	2.93%	+4.67%
Volatility (6M) Calculated over the trailing 6-month period	15.12%	9.34%	+5.78%
Volatility (1Y) Calculated over the trailing 1-year period	18.99%	13.00%	+5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.14%	18.29%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	20.40%	+0.75%

BGRFX vs. OAKMX - Expense Ratio Comparison

BGRFX has a 1.29% expense ratio, which is higher than OAKMX's 0.91% expense ratio.

Dividends

BGRFX vs. OAKMX - Dividend Comparison

BGRFX's dividend yield for the trailing twelve months is around 23.60%, more than OAKMX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
OAKMX Oakmark Fund Investor Class	0.93%	0.92%	1.12%	1.02%	0.92%	1.94%	0.17%	8.33%	8.13%	4.06%	2.58%	1.43%

Frequently Asked Questions

Can I hold both BGRFX and OAKMX in my portfolio?

BGRFX and OAKMX have a correlation of 0.66, 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 OAKMX?

BGRFX has higher volatility (7.60%) compared to OAKMX (2.93%). In terms of maximum drawdown, BGRFX dropped -56.10% vs OAKMX's -56.19%.

Which has better risk-adjusted returns?

OAKMX currently has the higher Sharpe Ratio (0.95 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.