BIGFX vs. BGRIX

Last updated Jun 26, 2026

BIGFX (Baron International Growth Fund) and BGRIX (Baron Growth Fund Institutional Shares) are both mutual funds - BIGFX is a Foreign Large Cap Equities fund managed by Baron Capital Group, Inc., while BGRIX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc.. Over the past 10 years, BIGFX returned 8.83%/yr vs 7.31%/yr for BGRIX. A 0.69 correlation means they provide meaningful diversification when combined. BIGFX charges 1.20%/yr vs 1.05%/yr for BGRIX.

Performance

BIGFX vs. BGRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron International Growth Fund (BIGFX) and Baron Growth Fund Institutional Shares (BGRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIGFX achieves a 10.16% return, which is significantly higher than BGRIX's -14.47% return. Over the past 10 years, BIGFX has outperformed BGRIX with an annualized return of 8.83%, while BGRIX has yielded a comparatively lower 7.31% annualized return.

BIGFX

• 1D: 0.00%
• 1M: -0.74%
• YTD: 10.16%
• 6M: 9.81%
• 1Y: 14.71%
• 3Y*: 12.09%
• 5Y*: 1.18%
• 10Y*: 8.83%

BGRIX

• 1D: 1.04%
• 1M: -3.72%
• YTD: -14.47%
• 6M: -15.43%
• 1Y: -22.97%
• 3Y*: -6.22%
• 5Y*: -5.46%
• 10Y*: 7.31%

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

BIGFX vs. BGRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIGFX Baron International Growth Fund	10.16%	20.80%	4.11%	7.33%	-27.47%	9.63%	30.52%	29.06%	-17.88%	36.95%
BGRIX Baron Growth Fund Institutional Shares	-14.47%	-14.21%	4.90%	14.97%	-22.35%	20.13%	33.10%	40.54%	-2.68%	27.45%

Correlation

The correlation between BIGFX and BGRIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 29, 2009	0.69

Over the past year, the correlation between BIGFX and BGRIX has dropped to 0.19 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

Return for Risk

BIGFX vs. BGRIX — Risk / Return Rank

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

BIGFX

BIGFX Risk / Return Rank: 15
BIGFX Sharpe Ratio Rank: 14
BIGFX Sortino Ratio Rank: 14
BIGFX Omega Ratio Rank: 15
BIGFX Calmar Ratio Rank: 16
BIGFX Martin Ratio Rank: 17

BGRIX

BGRIX Risk / Return Rank: 0
BGRIX Sharpe Ratio Rank: 0
BGRIX Sortino Ratio Rank: 0
BGRIX Omega Ratio Rank: 0
BGRIX Calmar Ratio Rank: 0
BGRIX Martin Ratio Rank: 0

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.

BIGFX vs. BGRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron International Growth Fund (BIGFX) and Baron Growth Fund Institutional Shares (BGRIX). 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.

	BIGFX	BGRIX	Difference
Sharpe ratio: Return per unit of total volatility	0.82	-1.21	+2.03
Sortino ratio: Return per unit of downside risk	1.22	-1.68	+2.90
Omega ratio: Gain probability vs. loss probability	1.16	0.81	+0.35
Calmar ratio: Return relative to maximum drawdown	1.12	-0.88	+2.00
Martin ratio: Return relative to average drawdown	3.63	-1.48	+5.12

BIGFX vs. BGRIX - Sharpe Ratio Comparison

The current BIGFX Sharpe Ratio is 0.82, which is higher than the BGRIX Sharpe Ratio of -1.21. The chart below compares the historical Sharpe Ratios of BIGFX and BGRIX, 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

BIGFX vs. BGRIX - Drawdown Comparison

The maximum BIGFX drawdown since its inception was -41.12%, roughly equal to the maximum BGRIX drawdown of -41.12%. Use the drawdown chart below to compare losses from any high point for BIGFX and BGRIX.

Drawdown Indicators

	BIGFX	BGRIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.12%	-41.12%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.71%	-26.95%	+14.24%
Max Drawdown (3Y) Largest decline over 3 years	-16.71%	-32.57%	+15.86%
Max Drawdown (5Y) Largest decline over 5 years	-41.12%	-34.60%	-6.52%
Max Drawdown (10Y) Largest decline over 10 years	-41.12%	-41.12%	0.00%
Current Drawdown Current decline from peak	-3.48%	-32.37%	+28.89%
Average Drawdown Average peak-to-trough decline	-10.01%	-7.61%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	15.94%	-12.04%

Volatility

BIGFX vs. BGRIX - Volatility Comparison

Baron International Growth Fund (BIGFX) and Baron Growth Fund Institutional Shares (BGRIX) have volatilities of 7.32% and 7.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIGFX	BGRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	7.16%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	15.76%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	17.47%	19.56%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	20.25%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.21%	21.17%	-3.96%

BIGFX vs. BGRIX - Expense Ratio Comparison

BIGFX has a 1.20% expense ratio, which is higher than BGRIX's 1.05% expense ratio.

Dividends

BIGFX vs. BGRIX - Dividend Comparison

BIGFX's dividend yield for the trailing twelve months is around 0.77%, less than BGRIX's 23.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGRIX Baron Growth Fund Institutional Shares	23.06%	19.72%	11.30%	1.69%	5.72%	7.38%	4.45%	3.55%	8.12%	11.36%	12.56%	9.37%
BIGFX Baron International Growth Fund	0.77%	0.85%	0.80%	0.35%	1.25%	5.24%	0.02%	0.08%	3.56%	3.54%	0.93%	0.62%

Frequently Asked Questions

Can I hold both BIGFX and BGRIX in my portfolio?

BIGFX and BGRIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIGFX or BGRIX?

BIGFX has higher volatility (7.32%) compared to BGRIX (7.16%). In terms of maximum drawdown, BIGFX dropped -41.12% vs BGRIX's -41.12%.

Which has better risk-adjusted returns?

BIGFX currently has the higher Sharpe Ratio (0.82 vs -1.21), 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.