BSCFX vs. BDAIX

Last updated Aug 4, 2026

BSCFX (Baron Small Cap Fund) and BDAIX (Baron Durable Advantage Fund) are both mutual funds - BSCFX is a Small Cap Growth Equities fund managed by Baron Capital, while BDAIX is a Large Cap Growth Equities fund managed by Baron Capital. Over the past 5 years, BSCFX returned 0.49%/yr vs 13.20%/yr for BDAIX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. BSCFX charges 1.29%/yr vs 1.48%/yr for BDAIX.

Performance

BSCFX vs. BDAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Small Cap Fund (BSCFX) and Baron Durable Advantage Fund (BDAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCFX achieves a 0.94% return, which is significantly lower than BDAIX's 5.82% return.

BSCFX

• 1D: 0.40%
• 1M: -3.68%
• 6M: 0.68%
• YTD: 0.94%
• 1Y: -0.88%
• 3Y*: 6.09%
• 5Y*: 0.49%
• 10Y*: 10.22%
• ALL TIME*: 9.00%

BDAIX

• 1D: 3.01%
• 1M: 2.50%
• 6M: 3.22%
• YTD: 5.82%
• 1Y: 11.36%
• 3Y*: 19.39%
• 5Y*: 13.20%
• 10Y*: —
• ALL TIME*: 18.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BDAIX Baron Durable Advantage Fund	$0.00	$0.00	$0.00
BSCFX Baron Small Cap Fund	$0.00	$0.00	$0.00

BSCFX vs. BDAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BSCFX Baron Small Cap Fund	0.94%	-0.92%	13.11%	26.90%	-31.19%	15.42%	40.38%	12.28%
BDAIX Baron Durable Advantage Fund	5.82%	16.56%	27.14%	45.51%	-24.81%	32.17%	20.32%	27.34%

Correlation

The correlation between BSCFX and BDAIX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019	0.80

Over the past year, the correlation between BSCFX and BDAIX has dropped to 0.58 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

BSCFX vs. BDAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BSCFX

BSCFX Risk / Return Rank: 3
BSCFX Sharpe Ratio Rank: 3
BSCFX Sortino Ratio Rank: 3
BSCFX Omega Ratio Rank: 3
BSCFX Calmar Ratio Rank: 3
BSCFX Martin Ratio Rank: 3

BDAIX

BDAIX Risk / Return Rank: 13
BDAIX Sharpe Ratio Rank: 12
BDAIX Sortino Ratio Rank: 12
BDAIX Omega Ratio Rank: 12
BDAIX Calmar Ratio Rank: 12
BDAIX Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BSCFX vs. BDAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Small Cap Fund (BSCFX) and Baron Durable Advantage Fund (BDAIX). 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.

	BSCFX	BDAIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	0.53	-0.65
Sortino ratio: Return per unit of downside risk	-0.05	0.85	-0.90
Omega ratio: Gain probability vs. loss probability	0.99	1.10	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.15	0.63	-0.78
Martin ratio: Return relative to average drawdown	-0.37	2.22	-2.60

BSCFX vs. BDAIX - Sharpe Ratio Comparison

The current BSCFX Sharpe Ratio is -0.12, which is lower than the BDAIX Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of BSCFX and BDAIX, 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

BSCFX vs. BDAIX - Drawdown Comparison

The maximum BSCFX drawdown since its inception was -55.59%, which is greater than BDAIX's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for BSCFX and BDAIX.

Drawdown Indicators

	BSCFX	BDAIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.59%	-33.57%	-22.02%
Max Drawdown (1Y) Largest decline over 1 year	-15.00%	-14.82%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-26.91%	-21.79%	-5.12%
Max Drawdown (5Y) Largest decline over 5 years	-37.94%	-30.25%	-7.69%
Max Drawdown (10Y) Largest decline over 10 years	-39.58%	—	—
Current Drawdown Current decline from peak	-8.41%	-1.20%	-7.21%
Average Drawdown Average peak-to-trough decline	-11.07%	-5.76%	-5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	4.18%	+1.78%

Volatility

BSCFX vs. BDAIX - Volatility Comparison

The current volatility for Baron Small Cap Fund (BSCFX) is 4.64%, while Baron Durable Advantage Fund (BDAIX) has a volatility of 5.68%. This indicates that BSCFX experiences smaller price fluctuations and is considered to be less risky than BDAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSCFX	BDAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	5.68%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	13.83%	13.92%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	17.57%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.44%	20.52%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	21.96%	+0.42%

BSCFX vs. BDAIX - Expense Ratio Comparison

BSCFX has a 1.29% expense ratio, which is lower than BDAIX's 1.48% expense ratio.

Dividends

BSCFX vs. BDAIX - Dividend Comparison

BSCFX's dividend yield for the trailing twelve months is around 9.84%, while BDAIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDAIX Baron Durable Advantage Fund	0.00%	0.00%	0.23%	0.10%	0.00%	0.33%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
BSCFX Baron Small Cap Fund	9.84%	9.50%	13.96%	3.04%	5.90%	12.47%	11.17%	9.60%	10.91%	13.57%	22.41%	12.56%

Frequently Asked Questions

Can I hold both BSCFX and BDAIX in my portfolio?

BSCFX and BDAIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCFX or BDAIX?

BDAIX has higher volatility (5.68%) compared to BSCFX (4.64%). In terms of maximum drawdown, BSCFX dropped -55.59% vs BDAIX's -33.57%.

Which has better risk-adjusted returns?

BDAIX currently has the higher Sharpe Ratio (0.53 vs -0.12), 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.