BGRIX vs. FMDGX
BGRIX (Baron Growth Fund Institutional Shares) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, BGRIX returned -4.37%/yr vs 4.66%/yr for FMDGX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. BGRIX charges 1.05%/yr vs 0.05%/yr for FMDGX.
Performance
BGRIX vs. FMDGX - 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 FMDGX's 2.42% 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%
FMDGX
- 1D
- 2.10%
- 1M
- -2.13%
- 6M
- 4.42%
- YTD
- 2.42%
- 1Y
- -1.05%
- 3Y*
- 13.91%
- 5Y*
- 4.66%
- 10Y*
- —
- ALL TIME*
- 10.26%
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. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BGRIX Baron Growth Fund Institutional Shares | -6.83% | -14.21% | 4.90% | 14.97% | -22.35% | 20.13% | 33.10% | 5.56% |
FMDGX Fidelity Mid Cap Growth Index Fund | 2.42% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
Correlation
The correlation between BGRIX and FMDGX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.79 |
Over the past year, the correlation between BGRIX and FMDGX has dropped to 0.24 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.
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Return for Risk
BGRIX vs. FMDGX — Risk / Return Rank
BGRIX
FMDGX
BGRIX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund Institutional Shares (BGRIX) and Fidelity Mid Cap Growth Index Fund (FMDGX). 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 | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.02 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 0.07 | -0.63 |
| Martin ratioReturn relative to average drawdown | -0.93 | 0.19 | -1.13 |
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Drawdowns
BGRIX vs. FMDGX - Drawdown Comparison
The maximum BGRIX drawdown since its inception was -41.12%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for BGRIX and FMDGX.
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Drawdown Indicators
| BGRIX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -38.59% | -2.53% |
Max Drawdown (1Y)Largest decline over 1 year | -23.63% | -14.75% | -8.88% |
Max Drawdown (3Y)Largest decline over 3 years | -32.70% | -25.30% | -7.40% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -38.59% | +3.99% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | — | — |
Current DrawdownCurrent decline from peak | -26.33% | -4.49% | -21.84% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -11.02% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.61% | 5.31% | +9.30% |
Volatility
BGRIX vs. FMDGX - Volatility Comparison
Baron Growth Fund Institutional Shares (BGRIX) has a higher volatility of 10.20% compared to Fidelity Mid Cap Growth Index Fund (FMDGX) at 5.45%. This indicates that BGRIX's price experiences larger fluctuations and is considered to be riskier than FMDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRIX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.20% | 5.45% | +4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 19.45% | 14.03% | +5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.85% | 17.67% | +5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.91% | 22.55% | -1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 24.22% | -2.75% |
BGRIX vs. FMDGX - Expense Ratio Comparison
BGRIX has a 1.05% expense ratio, which is higher than FMDGX's 0.05% expense ratio.
Dividends
BGRIX vs. FMDGX - Dividend Comparison
BGRIX's dividend yield for the trailing twelve months is around 21.17%, more than FMDGX's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FMDGX Fidelity Mid Cap Growth Index Fund | 1.81% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BGRIX and FMDGX have a correlation of 0.24, 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 FMDGX (5.45%). In terms of maximum drawdown, BGRIX dropped -41.12% vs FMDGX's -38.59%.
FMDGX currently has the higher Sharpe Ratio (0.06 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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