BWBIX vs. BFGIX

Last updated Aug 4, 2026

BWBIX (Baron WealthBuilder Fund) and BFGIX (Baron Focused Growth Fund Institutional Shares) are both mutual funds - BWBIX is a Diversified Portfolio fund managed by Baron Capital, while BFGIX is a Mid Cap Growth Equities fund actively managed by Baron Capital. Over the past 5 years, BWBIX returned 3.19%/yr vs 10.72%/yr for BFGIX. Their correlation of 0.92 means they have usually moved in the same direction. BWBIX charges 0.05%/yr vs 1.05%/yr for BFGIX.

Performance

BWBIX vs. BFGIX - Performance Comparison

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

Returns By Period

In the year-to-date period, BWBIX achieves a 0.60% return, which is significantly higher than BFGIX's -1.79% return.

BWBIX

• 1D: -0.18%
• 1M: -5.58%
• 6M: 2.30%
• YTD: 0.60%
• 1Y: 9.45%
• 3Y*: 11.07%
• 5Y*: 3.19%
• 10Y*: —
• ALL TIME*: 11.96%

BFGIX

• 1D: -1.85%
• 1M: -9.86%
• 6M: 2.19%
• YTD: -1.79%
• 1Y: 14.74%
• 3Y*: 16.58%
• 5Y*: 10.72%
• 10Y*: 20.46%
• ALL TIME*: 16.49%

*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)
BFGIX Baron Focused Growth Fund Institutional Shares	$0.00	$0.00	$0.00
BWBIX Baron WealthBuilder Fund	$0.00	$0.00	$0.00

BWBIX vs. BFGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BWBIX Baron WealthBuilder Fund	0.60%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%
BFGIX Baron Focused Growth Fund Institutional Shares	-1.79%	22.26%	29.85%	27.78%	-28.05%	19.00%	122.92%	30.34%	-2.76%

Correlation

The correlation between BWBIX and BFGIX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since May 21, 2018	0.92

The correlation between BWBIX and BFGIX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

BWBIX vs. BFGIX — Risk / Return Rank

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

BWBIX

BWBIX Risk / Return Rank: 12
BWBIX Sharpe Ratio Rank: 11
BWBIX Sortino Ratio Rank: 13
BWBIX Omega Ratio Rank: 12
BWBIX Calmar Ratio Rank: 13
BWBIX Martin Ratio Rank: 14

BFGIX

BFGIX Risk / Return Rank: 16
BFGIX Sharpe Ratio Rank: 13
BFGIX Sortino Ratio Rank: 18
BFGIX Omega Ratio Rank: 17
BFGIX Calmar Ratio Rank: 15
BFGIX Martin Ratio Rank: 17

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.

BWBIX vs. BFGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron WealthBuilder Fund (BWBIX) and Baron Focused Growth Fund Institutional Shares (BFGIX). 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.

	BWBIX	BFGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.50	0.58	-0.08
Sortino ratio: Return per unit of downside risk	0.87	1.11	-0.25
Omega ratio: Gain probability vs. loss probability	1.10	1.13	-0.03
Calmar ratio: Return relative to maximum drawdown	0.69	0.81	-0.12
Martin ratio: Return relative to average drawdown	2.12	2.62	-0.50

BWBIX vs. BFGIX - Sharpe Ratio Comparison

The current BWBIX Sharpe Ratio is 0.50, which is comparable to the BFGIX Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of BWBIX and BFGIX, 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

BWBIX vs. BFGIX - Drawdown Comparison

The maximum BWBIX drawdown since its inception was -39.14%, smaller than the maximum BFGIX drawdown of -43.62%. Use the drawdown chart below to compare losses from any high point for BWBIX and BFGIX.

Drawdown Indicators

	BWBIX	BFGIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.14%	-43.62%	+4.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.65%	-16.48%	+4.83%
Max Drawdown (3Y) Largest decline over 3 years	-21.59%	-20.97%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-39.14%	-35.71%	-3.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.62%	—
Current Drawdown Current decline from peak	-6.07%	-15.24%	+9.17%
Average Drawdown Average peak-to-trough decline	-11.55%	-7.86%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	5.11%	-1.31%

Volatility

BWBIX vs. BFGIX - Volatility Comparison

The current volatility for Baron WealthBuilder Fund (BWBIX) is 4.30%, while Baron Focused Growth Fund Institutional Shares (BFGIX) has a volatility of 7.32%. This indicates that BWBIX experiences smaller price fluctuations and is considered to be less risky than BFGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWBIX	BFGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	7.32%	-3.02%
Volatility (6M) Calculated over the trailing 6-month period	12.20%	17.33%	-5.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	23.21%	-7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.30%	23.01%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.09%	24.28%	-1.19%

BWBIX vs. BFGIX - Expense Ratio Comparison

BWBIX has a 0.05% expense ratio, which is lower than BFGIX's 1.05% expense ratio.

Dividends

BWBIX vs. BFGIX - Dividend Comparison

BWBIX's dividend yield for the trailing twelve months is around 7.56%, while BFGIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFGIX Baron Focused Growth Fund Institutional Shares	0.00%	0.00%	0.00%	0.00%	11.79%	15.01%	2.78%	1.74%	1.05%	2.07%	5.92%	6.01%
BWBIX Baron WealthBuilder Fund	7.56%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BWBIX and BFGIX in my portfolio?

With a correlation of 0.91, BWBIX and BFGIX 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, BWBIX or BFGIX?

BFGIX has higher volatility (7.32%) compared to BWBIX (4.30%). In terms of maximum drawdown, BWBIX dropped -39.14% vs BFGIX's -43.62%.

Which has better risk-adjusted returns?

BFGIX currently has the higher Sharpe Ratio (0.58 vs 0.50), 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.