BGRFX vs. PMEGX
BGRFX (Baron Growth Fund) and PMEGX (T. Rowe Price Institutional Mid Cap Equity Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, BGRFX returned 7.18%/yr vs 9.86%/yr for PMEGX. Their correlation of 0.87 means they have usually moved in the same direction. BGRFX charges 1.29%/yr vs 0.61%/yr for PMEGX.
Performance
BGRFX vs. PMEGX - 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 PMEGX's 4.05% return. Over the past 10 years, BGRFX has underperformed PMEGX with an annualized return of 7.18%, while PMEGX has yielded a comparatively higher 9.86% 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%
PMEGX
- 1D
- 1.32%
- 1M
- -0.55%
- 6M
- 4.15%
- YTD
- 4.05%
- 1Y
- 5.48%
- 3Y*
- 7.54%
- 5Y*
- 2.30%
- 10Y*
- 9.86%
- ALL TIME*
- 10.84%
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. PMEGX - 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% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 4.05% | 3.73% | 9.15% | 20.69% | -23.19% | 15.50% | 23.95% | 33.08% | -2.23% | 26.02% |
Correlation
The correlation between BGRFX and PMEGX is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 1996 | 0.87 |
Over the past year, the correlation between BGRFX and PMEGX has dropped to 0.42 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.
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Return for Risk
BGRFX vs. PMEGX — Risk / Return Rank
BGRFX
PMEGX
BGRFX vs. PMEGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund (BGRFX) and T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX). 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 | PMEGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.10 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 0.71 | -1.28 |
| Martin ratioReturn relative to average drawdown | -0.94 | 2.39 | -3.33 |
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Drawdowns
BGRFX vs. PMEGX - Drawdown Comparison
The maximum BGRFX drawdown since its inception was -56.10%, roughly equal to the maximum PMEGX drawdown of -55.88%. Use the drawdown chart below to compare losses from any high point for BGRFX and PMEGX.
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Drawdown Indicators
| BGRFX | PMEGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.10% | -55.88% | -0.22% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -10.21% | -13.65% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | -27.99% | -5.04% |
Max Drawdown (5Y)Largest decline over 5 years | -35.02% | -32.87% | -2.15% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -37.16% | -3.98% |
Current DrawdownCurrent decline from peak | -27.28% | -5.27% | -22.01% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -8.99% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.77% | 3.03% | +11.74% |
Volatility
BGRFX vs. PMEGX - Volatility Comparison
Baron Growth Fund (BGRFX) has a higher volatility of 10.19% compared to T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) at 2.86%. This indicates that BGRFX's price experiences larger fluctuations and is considered to be riskier than PMEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRFX | PMEGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 2.86% | +7.33% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 10.51% | +8.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.87% | 13.66% | +9.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.92% | 20.12% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 19.76% | +1.71% |
BGRFX vs. PMEGX - Expense Ratio Comparison
BGRFX has a 1.29% expense ratio, which is higher than PMEGX's 0.61% expense ratio.
Dividends
BGRFX vs. PMEGX - Dividend Comparison
BGRFX's dividend yield for the trailing twelve months is around 22.48%, more than PMEGX's 20.28% 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% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 20.28% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
Frequently Asked Questions
BGRFX and PMEGX have a correlation of 0.42, 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 PMEGX (2.86%). In terms of maximum drawdown, BGRFX dropped -56.10% vs PMEGX's -55.88%.
PMEGX currently has the higher Sharpe Ratio (0.53 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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