BGRIX vs. ^GSPC
BGRIX (Baron Growth Fund Institutional Shares) is Mid Cap Growth Equities fund managed by Baron Capital Group, Inc., while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, BGRIX returned 7.04%/yr vs 13.71%/yr for ^GSPC. Their correlation of 0.83 suggests significant overlap in exposure.
Performance
BGRIX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, BGRIX achieves a -16.62% return, which is significantly lower than ^GSPC's 7.60% return. Over the past 10 years, BGRIX has underperformed ^GSPC with an annualized return of 7.04%, while ^GSPC has yielded a comparatively higher 13.71% annualized return.
BGRIX
- 1D
- -2.41%
- 1M
- -6.26%
- YTD
- -16.62%
- 6M
- -17.64%
- 1Y
- -24.65%
- 3Y*
- -7.02%
- 5Y*
- -5.81%
- 10Y*
- 7.04%
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
BGRIX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGRIX Baron Growth Fund Institutional Shares | -16.62% | -14.21% | 4.90% | 14.97% | -22.35% | 20.13% | 33.10% | 40.54% | -2.68% | 27.45% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between BGRIX and ^GSPC is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 29, 2009 | 0.83 |
Over the past year, the correlation between BGRIX and ^GSPC has dropped to 0.29 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.
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Return for Risk
BGRIX vs. ^GSPC — Risk / Return Rank
BGRIX
^GSPC
BGRIX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund Institutional Shares (BGRIX) and S&P 500 Index (^GSPC). 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.
| BGRIX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.12 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.32 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 2.46 | -3.34 |
| Martin ratioReturn relative to average drawdown | -1.50 | 10.92 | -12.42 |
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Drawdowns
BGRIX vs. ^GSPC - Drawdown Comparison
The maximum BGRIX drawdown since its inception was -41.12%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for BGRIX and ^GSPC.
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Drawdown Indicators
| BGRIX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -56.78% | +15.66% |
Max Drawdown (1Y)Largest decline over 1 year | -26.95% | -9.10% | -17.85% |
Max Drawdown (3Y)Largest decline over 3 years | -32.57% | -18.90% | -13.67% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -25.43% | -9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -33.92% | -7.20% |
Current DrawdownCurrent decline from peak | -34.06% | -3.21% | -30.85% |
Average DrawdownAverage peak-to-trough decline | -7.60% | -10.71% | +3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.78% | 2.04% | +13.74% |
Volatility
BGRIX vs. ^GSPC - Volatility Comparison
Baron Growth Fund Institutional Shares (BGRIX) has a higher volatility of 6.99% compared to S&P 500 Index (^GSPC) at 4.89%. This indicates that BGRIX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRIX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 4.89% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 15.67% | 9.93% | +5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.55% | 12.57% | +6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.23% | 17.00% | +3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 18.08% | +3.12% |
Frequently Asked Questions
BGRIX and ^GSPC have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGRIX has higher volatility (6.99%) compared to ^GSPC (4.89%). In terms of maximum drawdown, BGRIX dropped -41.12% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.78 vs -1.22), 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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