GGRO.TO vs. BAFWX

Last updated Jun 4, 2026

GGRO.TO (iShares ESG Growth ETF Portfolio) and BAFWX (Brown Advisory Sustainable Growth Fund Institutional Shares) are both funds - GGRO.TO is a Diversified Portfolio fund actively managed by iShares, while BAFWX is a Large Cap Growth Equities fund managed by Brown Advisory Funds. Over the past 5 years, GGRO.TO returned 11.21%/yr vs 12.83%/yr for BAFWX. A 0.68 correlation means they provide meaningful diversification when combined. GGRO.TO charges 0.25%/yr vs 0.64%/yr for BAFWX.

Performance

GGRO.TO vs. BAFWX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Growth ETF Portfolio (GGRO.TO) and Brown Advisory Sustainable Growth Fund Institutional Shares (BAFWX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GGRO.TO is traded in CAD, while BAFWX is traded in USD. To make them comparable, the BAFWX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GGRO.TO achieves a 11.53% return, which is significantly higher than BAFWX's 8.00% return.

GGRO.TO

• 1D: -0.62%
• 1M: 6.36%
• YTD: 11.53%
• 6M: 9.38%
• 1Y: 22.46%
• 3Y*: 19.13%
• 5Y*: 11.21%
• 10Y*: —

BAFWX

• 1D: 0.15%
• 1M: 11.14%
• YTD: 8.00%
• 6M: 5.19%
• 1Y: 11.29%
• 3Y*: 16.53%
• 5Y*: 12.83%
• 10Y*: 16.58%

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

GGRO.TO vs. BAFWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GGRO.TO iShares ESG Growth ETF Portfolio	11.53%	14.24%	20.48%	19.18%	-14.11%	15.52%	7.20%
BAFWX Brown Advisory Sustainable Growth Fund Institutional Shares	8.00%	-1.39%	30.69%	36.01%	-25.98%	28.84%	9.72%

Correlation

The correlation between GGRO.TO and BAFWX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 15, 2020	0.68

The correlation between GGRO.TO and BAFWX has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.

Return for Risk

GGRO.TO vs. BAFWX — Risk / Return Rank

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

GGRO.TO

GGRO.TO Risk / Return Rank: 58
GGRO.TO Sharpe Ratio Rank: 56
GGRO.TO Sortino Ratio Rank: 54
GGRO.TO Omega Ratio Rank: 57
GGRO.TO Calmar Ratio Rank: 58
GGRO.TO Martin Ratio Rank: 64

BAFWX

BAFWX Risk / Return Rank: 7
BAFWX Sharpe Ratio Rank: 8
BAFWX Sortino Ratio Rank: 8
BAFWX Omega Ratio Rank: 8
BAFWX Calmar Ratio Rank: 6
BAFWX Martin Ratio Rank: 5

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.

GGRO.TO vs. BAFWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Growth ETF Portfolio (GGRO.TO) and Brown Advisory Sustainable Growth Fund Institutional Shares (BAFWX). 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.

	GGRO.TO	BAFWX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	0.72	+1.17
Sortino ratio: Return per unit of downside risk	2.63	1.07	+1.56
Omega ratio: Gain probability vs. loss probability	1.35	1.14	+0.22
Calmar ratio: Return relative to maximum drawdown	2.91	0.58	+2.34
Martin ratio: Return relative to average drawdown	11.75	1.37	+10.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGRO.TO vs. BAFWX - Sharpe Ratio Comparison

The current GGRO.TO Sharpe Ratio is 1.89, which is higher than the BAFWX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of GGRO.TO and BAFWX, 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

	GGRO.TO	BAFWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	0.72	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.62	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.99	+0.08

Drawdowns

GGRO.TO vs. BAFWX - Drawdown Comparison

The maximum GGRO.TO drawdown since its inception was -22.13%, smaller than the maximum BAFWX drawdown of -33.04%. Use the drawdown chart below to compare losses from any high point for GGRO.TO and BAFWX.

Drawdown Indicators

	GGRO.TO	BAFWX	Difference
Max Drawdown Largest peak-to-trough decline	-22.13%	-33.04%	+10.91%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-20.50%	+12.76%
Max Drawdown (3Y) Largest decline over 3 years	-13.78%	-25.64%	+11.86%
Max Drawdown (5Y) Largest decline over 5 years	-22.13%	-33.04%	+10.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.04%	—
Current Drawdown Current decline from peak	-0.62%	0.00%	-0.62%
Average Drawdown Average peak-to-trough decline	-4.97%	-5.51%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	8.60%	-6.68%

Volatility

GGRO.TO vs. BAFWX - Volatility Comparison

The current volatility for iShares ESG Growth ETF Portfolio (GGRO.TO) is 3.84%, while Brown Advisory Sustainable Growth Fund Institutional Shares (BAFWX) has a volatility of 4.51%. This indicates that GGRO.TO experiences smaller price fluctuations and is considered to be less risky than BAFWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGRO.TO	BAFWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	4.51%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	13.02%	-3.20%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	16.36%	-4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	20.91%	-9.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.57%	20.01%	-8.44%

GGRO.TO vs. BAFWX - Expense Ratio Comparison

GGRO.TO has a 0.25% expense ratio, which is lower than BAFWX's 0.64% expense ratio.

Dividends

GGRO.TO vs. BAFWX - Dividend Comparison

GGRO.TO's dividend yield for the trailing twelve months is around 1.38%, less than BAFWX's 22.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAFWX Brown Advisory Sustainable Growth Fund Institutional Shares	22.26%	23.83%	5.23%	0.01%	0.00%	1.82%	0.00%	1.48%	3.71%	1.70%	0.71%	4.73%
GGRO.TO iShares ESG Growth ETF Portfolio	1.38%	1.51%	1.62%	1.89%	1.69%	1.43%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGRO.TO and BAFWX in my portfolio?

GGRO.TO and BAFWX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.