BGRIX vs. VIIIX
BGRIX (Baron Growth Fund Institutional Shares) and VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) are both mutual funds - BGRIX is a Mid Cap Growth Equities fund managed by Baron Capital, while VIIIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, BGRIX returned 7.53%/yr vs 15.07%/yr for VIIIX. Their correlation of 0.82 means they have usually moved in the same direction. BGRIX charges 1.05%/yr vs 0.02%/yr for VIIIX.
Performance
BGRIX vs. VIIIX - Performance Comparison
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Returns By Period
In the year-to-date period, BGRIX achieves a -7.10% return, which is significantly lower than VIIIX's 9.35% return. Over the past 10 years, BGRIX has underperformed VIIIX with an annualized return of 7.53%, while VIIIX has yielded a comparatively higher 15.07% annualized return.
BGRIX
- 1D
- -4.19%
- 1M
- 2.04%
- 6M
- -4.59%
- YTD
- -7.10%
- 1Y
- -13.82%
- 3Y*
- -5.65%
- 5Y*
- -4.32%
- 10Y*
- 7.53%
- ALL TIME*
- 10.48%
VIIIX
- 1D
- 1.66%
- 1M
- -0.56%
- 6M
- 7.79%
- YTD
- 9.35%
- 1Y
- 20.63%
- 3Y*
- 19.44%
- 5Y*
- 12.83%
- 10Y*
- 15.07%
- ALL TIME*
- 9.41%
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. VIIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGRIX Baron Growth Fund Institutional Shares | -7.10% | -14.21% | 4.90% | 14.97% | -22.35% | 20.13% | 33.10% | 40.54% | -2.68% | 27.45% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 9.35% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
Correlation
The correlation between BGRIX and VIIIX is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 29, 2009 | 0.82 |
Over the past year, the correlation between BGRIX and VIIIX has dropped to 0.17 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
BGRIX vs. VIIIX — Risk / Return Rank
BGRIX
VIIIX
BGRIX vs. VIIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Growth Fund Institutional Shares (BGRIX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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 | VIIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.26 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 2.06 | -2.69 |
| Martin ratioReturn relative to average drawdown | -1.05 | 8.86 | -9.91 |
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Drawdowns
BGRIX vs. VIIIX - Drawdown Comparison
The maximum BGRIX drawdown since its inception was -41.12%, smaller than the maximum VIIIX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for BGRIX and VIIIX.
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Drawdown Indicators
| BGRIX | VIIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.12% | -55.18% | +14.06% |
Max Drawdown (1Y)Largest decline over 1 year | -24.43% | -8.90% | -15.53% |
Max Drawdown (3Y)Largest decline over 3 years | -32.70% | -18.75% | -13.95% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -24.50% | -10.10% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -33.79% | -7.33% |
Current DrawdownCurrent decline from peak | -26.53% | -2.11% | -24.42% |
Average DrawdownAverage peak-to-trough decline | -7.73% | -9.97% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.54% | 2.07% | +12.47% |
Volatility
BGRIX vs. VIIIX - Volatility Comparison
Baron Growth Fund Institutional Shares (BGRIX) has a higher volatility of 10.93% compared to Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) at 3.44%. This indicates that BGRIX's price experiences larger fluctuations and is considered to be riskier than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGRIX | VIIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.93% | 3.44% | +7.49% |
Volatility (6M)Calculated over the trailing 6-month period | 19.47% | 10.09% | +9.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.82% | 12.86% | +9.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.91% | 17.01% | +3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.46% | 18.07% | +3.39% |
BGRIX vs. VIIIX - Expense Ratio Comparison
BGRIX has a 1.05% expense ratio, which is higher than VIIIX's 0.02% expense ratio.
Dividends
BGRIX vs. VIIIX - Dividend Comparison
BGRIX's dividend yield for the trailing twelve months is around 21.23%, more than VIIIX's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGRIX Baron Growth Fund Institutional Shares | 21.23% | 19.72% | 11.30% | 1.69% | 5.72% | 7.38% | 4.45% | 3.55% | 8.12% | 11.36% | 12.56% | 9.37% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.51% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
Frequently Asked Questions
BGRIX and VIIIX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGRIX has higher volatility (10.93%) compared to VIIIX (3.44%). In terms of maximum drawdown, BGRIX dropped -41.12% vs VIIIX's -55.18%.
VIIIX currently has the higher Sharpe Ratio (1.43 vs -0.67), 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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