CMALX vs. BWBIX

Last updated Jun 5, 2026

CMALX (Crawford Multi-Asset Income Fund) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, CMALX returned 5.72%/yr vs 4.11%/yr for BWBIX. A 0.57 correlation means they provide meaningful diversification when combined. CMALX charges 1.00%/yr vs 0.05%/yr for BWBIX.

Performance

CMALX vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Crawford Multi-Asset Income Fund (CMALX) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMALX achieves a 5.28% return, which is significantly higher than BWBIX's -0.41% return.

CMALX

• 1D: -0.41%
• 1M: -0.15%
• YTD: 5.28%
• 6M: 5.57%
• 1Y: 8.67%
• 3Y*: 9.93%
• 5Y*: 5.72%
• 10Y*: —

BWBIX

• 1D: -1.14%
• 1M: 2.47%
• YTD: -0.41%
• 6M: 4.74%
• 1Y: 9.88%
• 3Y*: 13.50%
• 5Y*: 4.11%
• 10Y*: —

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

CMALX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CMALX Crawford Multi-Asset Income Fund	5.28%	5.26%	11.36%	6.42%	-0.99%	15.89%	-7.01%	20.24%	-5.55%
BWBIX Baron WealthBuilder Fund	-0.41%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between CMALX and BWBIX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.58

Over the past year, the correlation between CMALX and BWBIX has dropped to 0.37 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Return for Risk

CMALX vs. BWBIX — Risk / Return Rank

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

CMALX

CMALX Risk / Return Rank: 26
CMALX Sharpe Ratio Rank: 27
CMALX Sortino Ratio Rank: 27
CMALX Omega Ratio Rank: 25
CMALX Calmar Ratio Rank: 27
CMALX Martin Ratio Rank: 25

BWBIX

BWBIX Risk / Return Rank: 10
BWBIX Sharpe Ratio Rank: 9
BWBIX Sortino Ratio Rank: 10
BWBIX Omega Ratio Rank: 9
BWBIX Calmar Ratio Rank: 10
BWBIX Martin Ratio Rank: 10

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.

CMALX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Crawford Multi-Asset Income Fund (CMALX) and Baron WealthBuilder Fund (BWBIX). 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.

	CMALX	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	0.72	+0.73
Sortino ratio: Return per unit of downside risk	2.09	1.18	+0.91
Omega ratio: Gain probability vs. loss probability	1.25	1.14	+0.11
Calmar ratio: Return relative to maximum drawdown	1.87	0.89	+0.98
Martin ratio: Return relative to average drawdown	5.97	2.94	+3.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMALX vs. BWBIX - Sharpe Ratio Comparison

The current CMALX Sharpe Ratio is 1.45, which is higher than the BWBIX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of CMALX and BWBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMALX	BWBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	0.72	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.20	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.52	-0.08

Drawdowns

CMALX vs. BWBIX - Drawdown Comparison

The maximum CMALX drawdown since its inception was -39.04%, roughly equal to the maximum BWBIX drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for CMALX and BWBIX.

Drawdown Indicators

	CMALX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.04%	-39.14%	+0.10%
Max Drawdown (1Y) Largest decline over 1 year	-4.49%	-11.65%	+7.16%
Max Drawdown (3Y) Largest decline over 3 years	-7.66%	-21.59%	+13.93%
Max Drawdown (5Y) Largest decline over 5 years	-12.68%	-39.14%	+26.46%
Current Drawdown Current decline from peak	-1.76%	-2.39%	+0.63%
Average Drawdown Average peak-to-trough decline	-3.76%	-11.72%	+7.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	3.53%	-2.13%

Volatility

CMALX vs. BWBIX - Volatility Comparison

The current volatility for Crawford Multi-Asset Income Fund (CMALX) is 1.73%, while Baron WealthBuilder Fund (BWBIX) has a volatility of 3.59%. This indicates that CMALX experiences smaller price fluctuations and is considered to be less risky than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMALX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	3.59%	-1.86%
Volatility (6M) Calculated over the trailing 6-month period	4.20%	11.02%	-6.82%
Volatility (1Y) Calculated over the trailing 1-year period	5.78%	14.41%	-8.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.00%	21.08%	-12.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.64%	23.14%	-10.50%

CMALX vs. BWBIX - Expense Ratio Comparison

CMALX has a 1.00% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

CMALX vs. BWBIX - Dividend Comparison

CMALX's dividend yield for the trailing twelve months is around 7.41%, less than BWBIX's 7.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BWBIX Baron WealthBuilder Fund	7.64%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%
CMALX Crawford Multi-Asset Income Fund	7.41%	7.61%	3.94%	4.66%	4.93%	3.21%	3.67%	5.07%	4.87%	0.99%

Frequently Asked Questions

Can I hold both CMALX and BWBIX in my portfolio?

CMALX and BWBIX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMALX or BWBIX?

BWBIX has higher volatility (3.59%) compared to CMALX (1.73%). In terms of maximum drawdown, CMALX dropped -39.04% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

CMALX currently has the higher Sharpe Ratio (1.45 vs 0.72), 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.