BGRIX vs. SSMHX
BGRIX (Baron Growth Fund Institutional Shares) and SSMHX (State Street Small/Mid Cap Equity Index Portfolio) are both Mid Cap Growth Equities funds. Over the past 10 years, BGRIX returned 7.46%/yr vs 11.50%/yr for SSMHX. Their correlation of 0.81 means they have usually moved in the same direction. BGRIX charges 1.05%/yr vs 0.02%/yr for SSMHX.
Performance
BGRIX vs. SSMHX - 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 SSMHX's 15.39% return. Over the past 10 years, BGRIX has underperformed SSMHX with an annualized return of 7.46%, while SSMHX has yielded a comparatively higher 11.50% 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%
SSMHX
- 1D
- 1.80%
- 1M
- -1.14%
- 6M
- 12.07%
- YTD
- 15.39%
- 1Y
- 23.80%
- 3Y*
- 15.86%
- 5Y*
- 6.20%
- 10Y*
- 11.50%
- ALL TIME*
- 10.50%
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. SSMHX - 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% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 15.39% | 12.90% | 10.73% | 25.21% | -25.43% | 13.08% | 32.46% | 28.00% | -9.21% | 18.26% |
Correlation
The correlation between BGRIX and SSMHX is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2015 | 0.81 |
Over the past year, the correlation between BGRIX and SSMHX has dropped to 0.25 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
BGRIX vs. SSMHX — Risk / Return Rank
BGRIX
SSMHX
BGRIX vs. SSMHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund Institutional Shares (BGRIX) and State Street Small/Mid Cap Equity Index Portfolio (SSMHX). 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 | SSMHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.91 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.26 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.63 | -3.19 |
| Martin ratioReturn relative to average drawdown | -0.93 | 9.15 | -10.08 |
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Drawdowns
BGRIX vs. SSMHX - Drawdown Comparison
The maximum BGRIX drawdown since its inception was -41.12%, roughly equal to the maximum SSMHX drawdown of -41.61%. Use the drawdown chart below to compare losses from any high point for BGRIX and SSMHX.
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Drawdown Indicators
| BGRIX | SSMHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -41.61% | +0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -23.63% | -10.03% | -13.60% |
Max Drawdown (3Y)Largest decline over 3 years | -32.70% | -30.38% | -2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -34.84% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -41.61% | +0.49% |
Current DrawdownCurrent decline from peak | -26.33% | -2.14% | -24.19% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -9.03% | +1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.61% | 2.88% | +11.73% |
Volatility
BGRIX vs. SSMHX - Volatility Comparison
Baron Growth Fund Institutional Shares (BGRIX) has a higher volatility of 10.20% compared to State Street Small/Mid Cap Equity Index Portfolio (SSMHX) at 4.36%. This indicates that BGRIX's price experiences larger fluctuations and is considered to be riskier than SSMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRIX | SSMHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.20% | 4.36% | +5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 19.45% | 13.24% | +6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.85% | 17.52% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.91% | 22.49% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 22.38% | -0.91% |
BGRIX vs. SSMHX - Expense Ratio Comparison
BGRIX has a 1.05% expense ratio, which is higher than SSMHX's 0.02% expense ratio.
Dividends
BGRIX vs. SSMHX - Dividend Comparison
BGRIX's dividend yield for the trailing twelve months is around 21.17%, more than SSMHX's 6.17% 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% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 6.17% | 7.12% | 0.00% | 1.56% | 2.31% | 16.30% | 2.91% | 3.65% | 6.43% | 4.01% | 1.71% | 0.73% |
Frequently Asked Questions
BGRIX and SSMHX have a correlation of 0.25, 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 SSMHX (4.36%). In terms of maximum drawdown, BGRIX dropped -41.12% vs SSMHX's -41.61%.
SSMHX currently has the higher Sharpe Ratio (1.51 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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