BGRIX vs. BFGIX
BGRIX (Baron Growth Fund Institutional Shares) and BFGIX (Baron Focused Growth Fund Institutional Shares) are both Mid Cap Growth Equities funds from Baron Capital. Over the past 10 years, BGRIX returned 7.46%/yr vs 20.51%/yr for BFGIX. Their correlation of 0.85 means they have usually moved in the same direction. Both charge a 1.05% expense ratio.
Performance
BGRIX vs. BFGIX - Performance Comparison
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Returns By Period
In the year-to-date period, BGRIX achieves a -6.83% return, which is significantly lower than BFGIX's -0.15% return. Over the past 10 years, BGRIX has underperformed BFGIX with an annualized return of 7.46%, while BFGIX has yielded a comparatively higher 20.51% annualized return.
BGRIX
- 1D
- 0.77%
- 1M
- 2.33%
- 6M
- 1.19%
- YTD
- -6.83%
- 1Y
- -15.40%
- 3Y*
- -4.53%
- 5Y*
- -4.37%
- 10Y*
- 7.46%
- ALL TIME*
- 10.49%
BFGIX
- 1D
- 1.67%
- 1M
- -8.36%
- 6M
- 1.92%
- YTD
- -0.15%
- 1Y
- 13.84%
- 3Y*
- 18.54%
- 5Y*
- 10.78%
- 10Y*
- 20.51%
- ALL TIME*
- 16.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BGRIX vs. BFGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGRIX Baron Growth Fund Institutional Shares | -6.83% | -14.21% | 4.90% | 14.97% | -22.35% | 20.13% | 33.10% | 40.54% | -2.68% | 27.45% |
BFGIX Baron Focused Growth Fund Institutional Shares | -0.15% | 22.26% | 29.85% | 27.78% | -28.05% | 19.00% | 122.92% | 30.34% | 4.08% | 26.58% |
Correlation
The correlation between BGRIX and BFGIX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 29, 2009 | 0.85 |
The correlation between BGRIX and BFGIX shifts across timeframes, from 0.66 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BGRIX vs. BFGIX — Risk / Return Rank
BGRIX
BFGIX
BGRIX vs. BFGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund Institutional Shares (BGRIX) and Baron Focused Growth Fund Institutional Shares (BFGIX). 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 | BFGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.16 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.01 | -1.57 |
| Martin ratioReturn relative to average drawdown | -0.93 | 3.22 | -4.15 |
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Drawdowns
BGRIX vs. BFGIX - Drawdown Comparison
The maximum BGRIX drawdown since its inception was -41.12%, smaller than the maximum BFGIX drawdown of -43.62%. Use the drawdown chart below to compare losses from any high point for BGRIX and BFGIX.
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Drawdown Indicators
| BGRIX | BFGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -43.62% | +2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -23.63% | -16.48% | -7.15% |
Max Drawdown (3Y)Largest decline over 3 years | -32.70% | -20.97% | -11.73% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -35.71% | +1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -43.62% | +2.50% |
Current DrawdownCurrent decline from peak | -26.33% | -13.83% | -12.50% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -7.86% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.61% | 5.18% | +9.43% |
Volatility
BGRIX vs. BFGIX - Volatility Comparison
Baron Growth Fund Institutional Shares (BGRIX) has a higher volatility of 10.20% compared to Baron Focused Growth Fund Institutional Shares (BFGIX) at 7.30%. This indicates that BGRIX's price experiences larger fluctuations and is considered to be riskier than BFGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRIX | BFGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.20% | 7.30% | +2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 19.45% | 17.40% | +2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.85% | 23.25% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.91% | 23.03% | -2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 24.29% | -2.82% |
BGRIX vs. BFGIX - Expense Ratio Comparison
Both BGRIX and BFGIX have an expense ratio of 1.05%.
Dividends
BGRIX vs. BFGIX - Dividend Comparison
BGRIX's dividend yield for the trailing twelve months is around 21.17%, while BFGIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BFGIX Baron Focused Growth Fund Institutional Shares | 0.00% | 0.00% | 0.00% | 0.00% | 11.79% | 15.01% | 2.78% | 1.74% | 1.05% | 2.07% | 5.92% | 6.01% |
BGRIX Baron Growth Fund Institutional Shares | 21.17% | 19.72% | 11.30% | 1.69% | 5.72% | 7.38% | 4.45% | 3.55% | 8.12% | 11.36% | 12.56% | 9.37% |
Frequently Asked Questions
BGRIX and BFGIX 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.
BGRIX has higher volatility (10.20%) compared to BFGIX (7.30%). In terms of maximum drawdown, BGRIX dropped -41.12% vs BFGIX's -43.62%.
BFGIX currently has the higher Sharpe Ratio (0.72 vs -0.60), 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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