BIALX vs. BAFWX

Last updated Jun 25, 2026

BIALX (Brown Advisory Global Leaders Fund) and BAFWX (Brown Advisory Sustainable Growth Fund Institutional Shares) are both mutual funds - BIALX is a Global Equities fund managed by Brown Advisory Funds, while BAFWX is a Large Cap Growth Equities fund managed by Brown Advisory Funds. Over the past 10 years, BIALX returned 12.11%/yr vs 15.51%/yr for BAFWX. Their correlation of 0.88 suggests significant overlap in exposure. BIALX charges 0.90%/yr vs 0.64%/yr for BAFWX.

Performance

BIALX vs. BAFWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory Global Leaders Fund (BIALX) and Brown Advisory Sustainable Growth Fund Institutional Shares (BAFWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIALX achieves a -6.84% return, which is significantly lower than BAFWX's 0.70% return. Over the past 10 years, BIALX has underperformed BAFWX with an annualized return of 12.11%, while BAFWX has yielded a comparatively higher 15.51% annualized return.

BIALX

• 1D: -0.80%
• 1M: -2.69%
• YTD: -6.84%
• 6M: -7.61%
• 1Y: -2.92%
• 3Y*: 10.14%
• 5Y*: 5.35%
• 10Y*: 12.11%

BAFWX

• 1D: -1.34%
• 1M: -0.15%
• YTD: 0.70%
• 6M: -0.56%
• 1Y: 1.02%
• 3Y*: 12.69%
• 5Y*: 6.94%
• 10Y*: 15.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIALX vs. BAFWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIALX Brown Advisory Global Leaders Fund	-6.84%	14.96%	13.99%	26.00%	-19.66%	16.65%	20.26%	33.95%	-2.58%	34.00%
BAFWX Brown Advisory Sustainable Growth Fund Institutional Shares	0.70%	3.35%	20.35%	39.07%	-30.90%	30.01%	39.09%	36.09%	4.51%	28.10%

Correlation

The correlation between BIALX and BAFWX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.88

The correlation between BIALX and BAFWX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

BIALX vs. BAFWX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIALX

BIALX Risk / Return Rank: 2
BIALX Sharpe Ratio Rank: 3
BIALX Sortino Ratio Rank: 2
BIALX Omega Ratio Rank: 2
BIALX Calmar Ratio Rank: 2
BIALX Martin Ratio Rank: 2

BAFWX

BAFWX Risk / Return Rank: 4
BAFWX Sharpe Ratio Rank: 4
BAFWX Sortino Ratio Rank: 4
BAFWX Omega Ratio Rank: 4
BAFWX Calmar Ratio Rank: 4
BAFWX Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIALX vs. BAFWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Global Leaders Fund (BIALX) and Brown Advisory Sustainable Growth Fund Institutional Shares (BAFWX). 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.

	BIALX	BAFWX	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	0.18	-0.32
Sortino ratio: Return per unit of downside risk	-0.11	0.36	-0.47
Omega ratio: Gain probability vs. loss probability	0.99	1.04	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.14	0.15	-0.30
Martin ratio: Return relative to average drawdown	-0.44	0.40	-0.83

BIALX vs. BAFWX - Sharpe Ratio Comparison

The current BIALX Sharpe Ratio is -0.14, which is lower than the BAFWX Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of BIALX and BAFWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIALX vs. BAFWX - Drawdown Comparison

The maximum BIALX drawdown since its inception was -32.45%, smaller than the maximum BAFWX drawdown of -36.86%. Use the drawdown chart below to compare losses from any high point for BIALX and BAFWX.

Drawdown Indicators

	BIALX	BAFWX	Difference
Max Drawdown Largest peak-to-trough decline	-32.45%	-36.86%	+4.41%
Max Drawdown (1Y) Largest decline over 1 year	-12.77%	-19.93%	+7.16%
Max Drawdown (3Y) Largest decline over 3 years	-13.71%	-25.03%	+11.32%
Max Drawdown (5Y) Largest decline over 5 years	-29.02%	-36.86%	+7.84%
Max Drawdown (10Y) Largest decline over 10 years	-32.45%	-36.86%	+4.41%
Current Drawdown Current decline from peak	-8.69%	-6.12%	-2.57%
Average Drawdown Average peak-to-trough decline	-4.88%	-5.70%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	7.71%	-3.52%

Volatility

BIALX vs. BAFWX - Volatility Comparison

The current volatility for Brown Advisory Global Leaders Fund (BIALX) is 4.81%, while Brown Advisory Sustainable Growth Fund Institutional Shares (BAFWX) has a volatility of 7.34%. This indicates that BIALX experiences smaller price fluctuations and is considered to be less risky than BAFWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIALX	BAFWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	7.34%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	10.99%	14.16%	-3.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	17.38%	-4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.86%	22.74%	-5.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	21.55%	-4.12%

BIALX vs. BAFWX - Expense Ratio Comparison

BIALX has a 0.90% expense ratio, which is higher than BAFWX's 0.64% expense ratio.

Dividends

BIALX vs. BAFWX - Dividend Comparison

BIALX's dividend yield for the trailing twelve months is around 6.03%, less than BAFWX's 23.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAFWX Brown Advisory Sustainable Growth Fund Institutional Shares	23.67%	23.83%	5.23%	0.01%	0.00%	1.82%	0.00%	1.48%	3.71%	1.70%	0.71%	4.73%
BIALX Brown Advisory Global Leaders Fund	6.03%	5.61%	0.36%	0.37%	0.51%	1.08%	0.10%	0.24%	0.26%	0.09%	0.18%	0.00%

Frequently Asked Questions

Can I hold both BIALX and BAFWX in my portfolio?

BIALX and BAFWX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIALX or BAFWX?

BAFWX has higher volatility (7.34%) compared to BIALX (4.81%). In terms of maximum drawdown, BIALX dropped -32.45% vs BAFWX's -36.86%.

Which has better risk-adjusted returns?

BAFWX currently has the higher Sharpe Ratio (0.18 vs -0.14), 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.