BIALX vs. BIASX

Last updated Jun 5, 2026

BIALX (Brown Advisory Global Leaders Fund) and BIASX (Brown Advisory Small-Cap Growth Fund) are both mutual funds - BIALX is a Global Equities fund managed by Brown Advisory Funds, while BIASX is a Small Cap Growth Equities fund managed by Brown Advisory Funds. Over the past 10 years, BIALX returned 11.67%/yr vs 9.19%/yr for BIASX. A 0.80 correlation means they provide meaningful diversification when combined. BIALX charges 0.90%/yr vs 1.11%/yr for BIASX.

Performance

BIALX vs. BIASX - Performance Comparison

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

Returns By Period

In the year-to-date period, BIALX achieves a -6.19% return, which is significantly lower than BIASX's 10.50% return. Over the past 10 years, BIALX has outperformed BIASX with an annualized return of 11.67%, while BIASX has yielded a comparatively lower 9.19% annualized return.

BIALX

• 1D: -1.59%
• 1M: -3.19%
• YTD: -6.19%
• 6M: -5.35%
• 1Y: -2.24%
• 3Y*: 10.65%
• 5Y*: 5.79%
• 10Y*: 11.67%

BIASX

• 1D: -0.19%
• 1M: 3.37%
• YTD: 10.50%
• 6M: 9.88%
• 1Y: 15.66%
• 3Y*: 7.62%
• 5Y*: 1.35%
• 10Y*: 9.19%

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

BIALX vs. BIASX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIALX Brown Advisory Global Leaders Fund	-6.19%	14.96%	13.99%	26.00%	-19.66%	16.65%	20.26%	33.95%	-2.58%	34.00%
BIASX Brown Advisory Small-Cap Growth Fund	10.50%	2.29%	4.29%	12.43%	-20.27%	7.31%	31.78%	36.26%	-4.47%	16.91%

Correlation

The correlation between BIALX and BIASX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.80

The correlation between BIALX and BIASX shifts across timeframes, from 0.68 (1 year) to 0.80 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BIALX vs. BIASX — 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: 2
BIALX Sortino Ratio Rank: 2
BIALX Omega Ratio Rank: 2
BIALX Calmar Ratio Rank: 2
BIALX Martin Ratio Rank: 2

BIASX

BIASX Risk / Return Rank: 16
BIASX Sharpe Ratio Rank: 13
BIASX Sortino Ratio Rank: 14
BIASX Omega Ratio Rank: 12
BIASX Calmar Ratio Rank: 18
BIASX Martin Ratio Rank: 21

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. BIASX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Global Leaders Fund (BIALX) and Brown Advisory Small-Cap Growth Fund (BIASX). 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.

	BIALX	BIASX	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	0.97	-1.11
Sortino ratio: Return per unit of downside risk	-0.12	1.51	-1.63
Omega ratio: Gain probability vs. loss probability	0.99	1.17	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.14	1.50	-1.65
Martin ratio: Return relative to average drawdown	-0.48	5.34	-5.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIALX vs. BIASX - Sharpe Ratio Comparison

The current BIALX Sharpe Ratio is -0.15, which is lower than the BIASX Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of BIALX and BIASX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIALX	BIASX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.15	0.97	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.07	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.46	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.30	+0.35

Drawdowns

BIALX vs. BIASX - Drawdown Comparison

The maximum BIALX drawdown since its inception was -32.45%, smaller than the maximum BIASX drawdown of -73.26%. Use the drawdown chart below to compare losses from any high point for BIALX and BIASX.

Drawdown Indicators

	BIALX	BIASX	Difference
Max Drawdown Largest peak-to-trough decline	-32.45%	-73.26%	+40.81%
Max Drawdown (1Y) Largest decline over 1 year	-12.77%	-10.93%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.71%	-24.98%	+11.27%
Max Drawdown (5Y) Largest decline over 5 years	-29.02%	-30.61%	+1.59%
Max Drawdown (10Y) Largest decline over 10 years	-32.45%	-38.04%	+5.59%
Current Drawdown Current decline from peak	-8.05%	-0.52%	-7.53%
Average Drawdown Average peak-to-trough decline	-4.86%	-23.48%	+18.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	3.07%	+0.77%

Volatility

BIALX vs. BIASX - Volatility Comparison

The current volatility for Brown Advisory Global Leaders Fund (BIALX) is 4.11%, while Brown Advisory Small-Cap Growth Fund (BIASX) has a volatility of 4.56%. This indicates that BIALX experiences smaller price fluctuations and is considered to be less risky than BIASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIALX	BIASX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	4.56%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	12.36%	-2.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.56%	17.08%	-4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	19.78%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.46%	19.94%	-2.48%

BIALX vs. BIASX - Expense Ratio Comparison

BIALX has a 0.90% expense ratio, which is lower than BIASX's 1.11% expense ratio.

Dividends

BIALX vs. BIASX - Dividend Comparison

BIALX's dividend yield for the trailing twelve months is around 5.98%, less than BIASX's 17.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIALX Brown Advisory Global Leaders Fund	5.98%	5.61%	0.36%	0.37%	0.51%	1.08%	0.10%	0.24%	0.26%	0.09%	0.18%	0.00%
BIASX Brown Advisory Small-Cap Growth Fund	17.76%	19.62%	5.78%	0.00%	8.22%	13.22%	0.78%	4.00%	5.17%	1.69%	3.50%	16.77%

Frequently Asked Questions

Can I hold both BIALX and BIASX in my portfolio?

BIALX and BIASX have a correlation of 0.68, 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 BIASX?

BIASX has higher volatility (4.56%) compared to BIALX (4.11%). In terms of maximum drawdown, BIALX dropped -32.45% vs BIASX's -73.26%.

Which has better risk-adjusted returns?

BIASX currently has the higher Sharpe Ratio (0.97 vs -0.15), 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.