BPTRX vs. BPTIX

Last updated Jun 20, 2026

BPTRX (Baron Partners Fund) and BPTIX (Baron Partners Fund Institutional Class) are both Large Cap Growth Equities funds. Over the past 10 years, BPTRX returned 25.50%/yr vs 25.98%/yr for BPTIX. With a 1.00 correlation, they move nearly in lockstep. BPTRX charges 1.36%/yr vs 1.99%/yr for BPTIX.

Performance

BPTRX vs. BPTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Partners Fund (BPTRX) and Baron Partners Fund Institutional Class (BPTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BPTRX having a 12.47% return and BPTIX slightly higher at 12.61%. Both investments have delivered pretty close results over the past 10 years, with BPTRX having a 25.50% annualized return and BPTIX not far ahead at 25.98%.

BPTRX

• 1D: -1.26%
• 1M: 14.33%
• YTD: 12.47%
• 6M: 9.60%
• 1Y: 52.92%
• 3Y*: 24.00%
• 5Y*: 14.99%
• 10Y*: 25.50%

BPTIX

• 1D: -1.26%
• 1M: 14.35%
• YTD: 12.61%
• 6M: 9.74%
• 1Y: 53.31%
• 3Y*: 24.31%
• 5Y*: 15.29%
• 10Y*: 25.98%

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

BPTRX vs. BPTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPTRX Baron Partners Fund	12.47%	24.54%	32.75%	43.09%	-42.53%	31.35%	148.81%	44.99%	-2.01%	31.54%
BPTIX Baron Partners Fund Institutional Class	12.61%	24.86%	33.09%	43.47%	-42.39%	31.69%	149.45%	47.29%	-1.75%	31.91%

Correlation

The correlation between BPTRX and BPTIX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since May 29, 2009	1.00

The correlation between BPTRX and BPTIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

BPTRX vs. BPTIX — Risk / Return Rank

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

BPTRX

BPTRX Risk / Return Rank: 74
BPTRX Sharpe Ratio Rank: 48
BPTRX Sortino Ratio Rank: 86
BPTRX Omega Ratio Rank: 74
BPTRX Calmar Ratio Rank: 94
BPTRX Martin Ratio Rank: 69

BPTIX

BPTIX Risk / Return Rank: 75
BPTIX Sharpe Ratio Rank: 49
BPTIX Sortino Ratio Rank: 87
BPTIX Omega Ratio Rank: 75
BPTIX Calmar Ratio Rank: 94
BPTIX Martin Ratio Rank: 71

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.

BPTRX vs. BPTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Partners Fund (BPTRX) and Baron Partners Fund Institutional Class (BPTIX). 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.

	BPTRX	BPTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.84	-0.01
Sortino ratio: Return per unit of downside risk	3.76	3.78	-0.02
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	4.93	5.00	-0.07
Martin ratio: Return relative to average drawdown	12.04	12.23	-0.20

BPTRX vs. BPTIX - Sharpe Ratio Comparison

The current BPTRX Sharpe Ratio is 1.83, which is comparable to the BPTIX Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of BPTRX and BPTIX, 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

BPTRX vs. BPTIX - Drawdown Comparison

The maximum BPTRX drawdown since its inception was -64.11%, which is greater than BPTIX's maximum drawdown of -51.26%. Use the drawdown chart below to compare losses from any high point for BPTRX and BPTIX.

Drawdown Indicators

	BPTRX	BPTIX	Difference
Max Drawdown Largest peak-to-trough decline	-64.11%	-51.26%	-12.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-10.64%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-33.34%	-33.29%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-49.87%	-49.72%	-0.15%
Max Drawdown (10Y) Largest decline over 10 years	-51.26%	-51.26%	0.00%
Current Drawdown Current decline from peak	-4.52%	-4.52%	0.00%
Average Drawdown Average peak-to-trough decline	-13.77%	-10.77%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	4.34%	+0.04%

Volatility

BPTRX vs. BPTIX - Volatility Comparison

Baron Partners Fund (BPTRX) and Baron Partners Fund Institutional Class (BPTIX) have volatilities of 11.09% and 11.09%, 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

	BPTRX	BPTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.09%	11.09%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	16.00%	16.00%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	28.94%	28.94%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.94%	33.94%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.86%	32.87%	-0.01%

BPTRX vs. BPTIX - Expense Ratio Comparison

BPTRX has a 1.36% expense ratio, which is lower than BPTIX's 1.99% expense ratio.

Dividends

BPTRX vs. BPTIX - Dividend Comparison

BPTRX's dividend yield for the trailing twelve months is around 2.99%, more than BPTIX's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPTIX Baron Partners Fund Institutional Class	2.85%	3.21%	0.73%	0.00%	3.07%	7.46%	3.57%	1.27%	0.00%	0.00%	0.00%	0.62%
BPTRX Baron Partners Fund	2.99%	3.36%	0.76%	0.00%	3.19%	7.72%	3.67%	0.26%	0.00%	0.00%	0.00%	0.35%

Frequently Asked Questions

Can I hold both BPTRX and BPTIX in my portfolio?

With a correlation of 1.00, BPTRX and BPTIX 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, BPTRX or BPTIX?

BPTIX has higher volatility (11.09%) compared to BPTRX (11.09%). In terms of maximum drawdown, BPTRX dropped -64.11% vs BPTIX's -51.26%.

Which has better risk-adjusted returns?

BPTIX currently has the higher Sharpe Ratio (1.84 vs 1.83), 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.