BITEX vs. BAFMX

Last updated Jun 24, 2026

BITEX (Brown Advisory Tax-Exempt Sustainable Bond Fund) and BAFMX (Brown Advisory Mid-Cap Growth Fund) are both mutual funds - BITEX is a Municipal Bonds fund managed by Brown Advisory Funds, while BAFMX is a Mid Cap Growth Equities fund managed by Brown Advisory Funds. At a 0.08 correlation, their price movements are largely independent. BITEX charges 0.49%/yr vs 0.79%/yr for BAFMX.

Performance

BITEX vs. BAFMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) and Brown Advisory Mid-Cap Growth Fund (BAFMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BITEX

• 1D: -0.11%
• 1M: 1.18%
• YTD: 1.33%
• 6M: 1.86%
• 1Y: 6.05%
• 3Y*: 3.48%
• 5Y*: 0.51%
• 10Y*: —

BAFMX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITEX vs. BAFMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BITEX Brown Advisory Tax-Exempt Sustainable Bond Fund	1.33%	4.27%	2.02%	4.35%	-9.40%	2.21%	2.08%	0.19%
BAFMX Brown Advisory Mid-Cap Growth Fund	-2.65%	3.70%	15.29%	23.21%	-28.12%	6.32%	32.56%	1.93%

Correlation

The correlation between BITEX and BAFMX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Dec 2, 2019	0.08

Return for Risk

BITEX vs. BAFMX — Risk / Return Rank

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

BITEX

BITEX Risk / Return Rank: 70
BITEX Sharpe Ratio Rank: 85
BITEX Sortino Ratio Rank: 91
BITEX Omega Ratio Rank: 92
BITEX Calmar Ratio Rank: 43
BITEX Martin Ratio Rank: 39

BAFMX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BITEX vs. BAFMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) and Brown Advisory Mid-Cap Growth Fund (BAFMX). 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.

	BITEX	BAFMX	Difference
Sharpe ratio: Return per unit of total volatility	2.56	—	—
Sortino ratio: Return per unit of downside risk	4.21	—	—
Omega ratio: Gain probability vs. loss probability	1.66	—	—
Calmar ratio: Return relative to maximum drawdown	2.39	—	—
Martin ratio: Return relative to average drawdown	8.09	—	—

Drawdowns

Drawdown Indicators

	BITEX	BAFMX	Difference
Max Drawdown Largest peak-to-trough decline	-13.06%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.60%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.06%	—	—
Current Drawdown Current decline from peak	-0.54%	—	—
Average Drawdown Average peak-to-trough decline	-4.51%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	—	—

Volatility

Volatility by Period

	BITEX	BAFMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.42%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.27%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.03%	—	—

BITEX vs. BAFMX - Expense Ratio Comparison

BITEX has a 0.49% expense ratio, which is lower than BAFMX's 0.79% expense ratio.

Dividends

BITEX vs. BAFMX - Dividend Comparison

BITEX's dividend yield for the trailing twelve months is around 3.51%, less than BAFMX's 75.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BAFMX Brown Advisory Mid-Cap Growth Fund	75.00%	73.01%	0.00%	0.00%	6.85%	9.92%	0.00%	0.52%	1.14%
BITEX Brown Advisory Tax-Exempt Sustainable Bond Fund	3.51%	3.25%	3.32%	2.78%	1.25%	2.00%	1.45%	0.09%	0.00%

Frequently Asked Questions

Can I hold both BITEX and BAFMX in my portfolio?

BITEX and BAFMX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.