FUQIX vs. BPTRX

Last updated Jun 4, 2026

FUQIX (Fidelity SAI U.S. Quality Index Fund) and BPTRX (Baron Partners Fund) are both Large Cap Growth Equities funds. Over the past 10 years, FUQIX returned 16.02%/yr vs 24.08%/yr for BPTRX. A 0.69 correlation means they provide meaningful diversification when combined. FUQIX charges 0.10%/yr vs 1.36%/yr for BPTRX.

Performance

FUQIX vs. BPTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI U.S. Quality Index Fund (FUQIX) and Baron Partners Fund (BPTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FUQIX achieves a 6.18% return, which is significantly higher than BPTRX's -0.19% return. Over the past 10 years, FUQIX has underperformed BPTRX with an annualized return of 16.02%, while BPTRX has yielded a comparatively higher 24.08% annualized return.

FUQIX

• 1D: -0.08%
• 1M: 6.05%
• YTD: 6.18%
• 6M: 6.49%
• 1Y: 19.86%
• 3Y*: 20.51%
• 5Y*: 14.06%
• 10Y*: 16.02%

BPTRX

• 1D: -1.21%
• 1M: 4.90%
• YTD: -0.19%
• 6M: 19.80%
• 1Y: 31.83%
• 3Y*: 22.85%
• 5Y*: 13.31%
• 10Y*: 24.08%

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

FUQIX vs. BPTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUQIX Fidelity SAI U.S. Quality Index Fund	6.18%	16.76%	24.32%	29.63%	-18.09%	28.28%	20.67%	34.66%	-3.39%	25.77%
BPTRX Baron Partners Fund	-0.19%	24.54%	32.75%	43.09%	-42.53%	31.35%	148.81%	44.99%	-2.01%	31.54%

Correlation

The correlation between FUQIX and BPTRX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Oct 19, 2015	0.69

The correlation between FUQIX and BPTRX shifts across timeframes, from 0.56 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FUQIX vs. BPTRX — Risk / Return Rank

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

FUQIX

FUQIX Risk / Return Rank: 29
FUQIX Sharpe Ratio Rank: 33
FUQIX Sortino Ratio Rank: 31
FUQIX Omega Ratio Rank: 31
FUQIX Calmar Ratio Rank: 21
FUQIX Martin Ratio Rank: 29

BPTRX

BPTRX Risk / Return Rank: 35
BPTRX Sharpe Ratio Rank: 17
BPTRX Sortino Ratio Rank: 34
BPTRX Omega Ratio Rank: 30
BPTRX Calmar Ratio Rank: 62
BPTRX Martin Ratio Rank: 32

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.

FUQIX vs. BPTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI U.S. Quality Index Fund (FUQIX) and Baron Partners Fund (BPTRX). 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.

	FUQIX	BPTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.18	+0.45
Sortino ratio: Return per unit of downside risk	2.30	2.41	-0.11
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	1.68	3.04	-1.36
Martin ratio: Return relative to average drawdown	6.75	7.36	-0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FUQIX vs. BPTRX - Sharpe Ratio Comparison

The current FUQIX Sharpe Ratio is 1.63, which is higher than the BPTRX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of FUQIX and BPTRX, 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

	FUQIX	BPTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.18	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.40	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.74	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.55	+0.30

Drawdowns

FUQIX vs. BPTRX - Drawdown Comparison

The maximum FUQIX drawdown since its inception was -31.19%, smaller than the maximum BPTRX drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for FUQIX and BPTRX.

Drawdown Indicators

	FUQIX	BPTRX	Difference
Max Drawdown Largest peak-to-trough decline	-31.19%	-64.11%	+32.92%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-10.71%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	-33.34%	+15.48%
Max Drawdown (5Y) Largest decline over 5 years	-24.96%	-49.87%	+24.91%
Max Drawdown (10Y) Largest decline over 10 years	-31.19%	-51.26%	+20.07%
Current Drawdown Current decline from peak	-0.08%	-3.63%	+3.55%
Average Drawdown Average peak-to-trough decline	-4.26%	-13.78%	+9.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	4.41%	-1.37%

Volatility

FUQIX vs. BPTRX - Volatility Comparison

The current volatility for Fidelity SAI U.S. Quality Index Fund (FUQIX) is 2.25%, while Baron Partners Fund (BPTRX) has a volatility of 3.43%. This indicates that FUQIX experiences smaller price fluctuations and is considered to be less risky than BPTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUQIX	BPTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	3.43%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.69%	21.24%	-11.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.63%	27.58%	-14.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	33.62%	-16.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.26%	32.70%	-14.44%

FUQIX vs. BPTRX - Expense Ratio Comparison

FUQIX has a 0.10% expense ratio, which is lower than BPTRX's 1.36% expense ratio.

Dividends

FUQIX vs. BPTRX - Dividend Comparison

FUQIX's dividend yield for the trailing twelve months is around 3.42%, more than BPTRX's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPTRX Baron Partners Fund	3.37%	3.36%	0.76%	0.00%	3.19%	7.72%	3.67%	0.26%	0.00%	0.00%	0.00%	0.35%
FUQIX Fidelity SAI U.S. Quality Index Fund	3.42%	3.63%	12.80%	2.38%	1.42%	8.55%	9.46%	13.68%	2.41%	3.79%	1.57%	0.29%

Frequently Asked Questions

Can I hold both FUQIX and BPTRX in my portfolio?

FUQIX and BPTRX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FUQIX or BPTRX?

BPTRX has higher volatility (3.43%) compared to FUQIX (2.25%). In terms of maximum drawdown, FUQIX dropped -31.19% vs BPTRX's -64.11%.

Which has better risk-adjusted returns?

FUQIX currently has the higher Sharpe Ratio (1.63 vs 1.18), 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.