BIOPX vs. BFTHX

Last updated Jun 25, 2026

BIOPX (Baron Opportunity Fund) and BFTHX (Baron Fifth Avenue Growth Fund) are both Large Cap Growth Equities funds from Baron Capital Group, Inc.. Over the past 10 years, BIOPX returned 21.82%/yr vs 16.13%/yr for BFTHX. Their correlation of 0.93 suggests significant overlap in exposure. BIOPX charges 1.31%/yr vs 1.00%/yr for BFTHX.

Performance

BIOPX vs. BFTHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Opportunity Fund (BIOPX) and Baron Fifth Avenue Growth Fund (BFTHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIOPX achieves a 9.80% return, which is significantly higher than BFTHX's 5.88% return. Over the past 10 years, BIOPX has outperformed BFTHX with an annualized return of 21.82%, while BFTHX has yielded a comparatively lower 16.13% annualized return.

BIOPX

• 1D: -1.82%
• 1M: 2.97%
• YTD: 9.80%
• 6M: 8.08%
• 1Y: 23.69%
• 3Y*: 26.89%
• 5Y*: 9.40%
• 10Y*: 21.82%

BFTHX

• 1D: -1.97%
• 1M: 0.84%
• YTD: 5.88%
• 6M: 4.38%
• 1Y: 18.40%
• 3Y*: 25.65%
• 5Y*: 5.69%
• 10Y*: 16.13%

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

BIOPX vs. BFTHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIOPX Baron Opportunity Fund	9.80%	19.44%	39.87%	49.55%	-42.96%	11.90%	88.78%	40.34%	8.06%	40.58%
BFTHX Baron Fifth Avenue Growth Fund	5.88%	18.01%	37.38%	57.20%	-50.62%	10.88%	50.42%	33.98%	1.10%	40.64%

Correlation

The correlation between BIOPX and BFTHX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 4, 2004	0.93

The correlation between BIOPX and BFTHX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

BIOPX vs. BFTHX — Risk / Return Rank

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

BIOPX

BIOPX Risk / Return Rank: 26
BIOPX Sharpe Ratio Rank: 24
BIOPX Sortino Ratio Rank: 24
BIOPX Omega Ratio Rank: 25
BIOPX Calmar Ratio Rank: 29
BIOPX Martin Ratio Rank: 28

BFTHX

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

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.

BIOPX vs. BFTHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Opportunity Fund (BIOPX) and Baron Fifth Avenue Growth Fund (BFTHX). 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.

	BIOPX	BFTHX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.95	+0.30
Sortino ratio: Return per unit of downside risk	1.84	1.41	+0.43
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio: Return relative to maximum drawdown	1.84	1.21	+0.62
Martin ratio: Return relative to average drawdown	5.96	3.80	+2.16

BIOPX vs. BFTHX - Sharpe Ratio Comparison

The current BIOPX Sharpe Ratio is 1.26, which is higher than the BFTHX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of BIOPX and BFTHX, 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

BIOPX vs. BFTHX - Drawdown Comparison

The maximum BIOPX drawdown since its inception was -67.91%, which is greater than BFTHX's maximum drawdown of -58.84%. Use the drawdown chart below to compare losses from any high point for BIOPX and BFTHX.

Drawdown Indicators

	BIOPX	BFTHX	Difference
Max Drawdown Largest peak-to-trough decline	-67.91%	-58.84%	-9.07%
Max Drawdown (1Y) Largest decline over 1 year	-14.16%	-17.62%	+3.46%
Max Drawdown (3Y) Largest decline over 3 years	-26.34%	-29.22%	+2.88%
Max Drawdown (5Y) Largest decline over 5 years	-51.45%	-58.84%	+7.39%
Max Drawdown (10Y) Largest decline over 10 years	-51.45%	-58.84%	+7.39%
Current Drawdown Current decline from peak	-7.36%	-6.37%	-0.99%
Average Drawdown Average peak-to-trough decline	-16.84%	-11.85%	-4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	5.61%	-1.26%

Volatility

BIOPX vs. BFTHX - Volatility Comparison

Baron Opportunity Fund (BIOPX) has a higher volatility of 10.57% compared to Baron Fifth Avenue Growth Fund (BFTHX) at 9.88%. This indicates that BIOPX's price experiences larger fluctuations and is considered to be riskier than BFTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIOPX	BFTHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.57%	9.88%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	15.28%	16.80%	-1.52%
Volatility (1Y) Calculated over the trailing 1-year period	20.70%	22.39%	-1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.02%	31.17%	-4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.99%	27.22%	-2.23%

BIOPX vs. BFTHX - Expense Ratio Comparison

BIOPX has a 1.31% expense ratio, which is higher than BFTHX's 1.00% expense ratio.

Dividends

BIOPX vs. BFTHX - Dividend Comparison

BIOPX's dividend yield for the trailing twelve months is around 3.86%, which matches BFTHX's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFTHX Baron Fifth Avenue Growth Fund	3.88%	4.11%	0.79%	0.00%	0.00%	3.19%	0.36%	2.95%	0.00%	0.00%	0.00%	0.00%
BIOPX Baron Opportunity Fund	3.86%	4.24%	4.95%	0.00%	0.00%	8.71%	6.96%	7.33%	5.29%	15.58%	13.52%	10.92%

Frequently Asked Questions

Can I hold both BIOPX and BFTHX in my portfolio?

With a correlation of 0.96, BIOPX and BFTHX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BIOPX or BFTHX?

BIOPX has higher volatility (10.57%) compared to BFTHX (9.88%). In terms of maximum drawdown, BIOPX dropped -67.91% vs BFTHX's -58.84%.

Which has better risk-adjusted returns?

BIOPX currently has the higher Sharpe Ratio (1.26 vs 0.95), 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.