IWV vs. BARAX
IWV (iShares Russell 3000 ETF) and BARAX (Baron Asset Fund) are both funds - IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index, while BARAX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc.. Over the past 10 years, IWV returned 15.20%/yr vs 11.78%/yr for BARAX. Their correlation of 0.88 suggests significant overlap in exposure. IWV charges 0.20%/yr vs 1.29%/yr for BARAX.
Performance
IWV vs. BARAX - Performance Comparison
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Returns By Period
In the year-to-date period, IWV achieves a 8.55% return, which is significantly higher than BARAX's 4.38% return. Over the past 10 years, IWV has outperformed BARAX with an annualized return of 15.20%, while BARAX has yielded a comparatively lower 11.78% annualized return.
IWV
- 1D
- -0.01%
- 1M
- -1.54%
- YTD
- 8.55%
- 6M
- 7.10%
- 1Y
- 22.37%
- 3Y*
- 20.50%
- 5Y*
- 11.71%
- 10Y*
- 15.20%
BARAX
- 1D
- 0.22%
- 1M
- 10.48%
- YTD
- 4.38%
- 6M
- 3.28%
- 1Y
- 8.62%
- 3Y*
- 11.28%
- 5Y*
- 2.31%
- 10Y*
- 11.78%
IWV vs. BARAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWV iShares Russell 3000 ETF | 8.55% | 16.96% | 23.49% | 25.82% | -19.28% | 25.54% | 20.55% | 30.66% | -5.43% | 20.97% |
BARAX Baron Asset Fund | 4.38% | 7.89% | 10.35% | 17.05% | -26.06% | 13.88% | 32.98% | 37.64% | -0.15% | 26.18% |
Correlation
The correlation between IWV and BARAX is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.88 |
Over the past year, the correlation between IWV and BARAX has dropped to 0.62 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
IWV vs. BARAX — Risk / Return Rank
IWV
BARAX
IWV vs. BARAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 3000 ETF (IWV) and Baron Asset Fund (BARAX). 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.
| IWV | BARAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.11 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 0.74 | +1.79 |
| Martin ratioReturn relative to average drawdown | 11.18 | 1.48 | +9.69 |
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Drawdowns
IWV vs. BARAX - Drawdown Comparison
The maximum IWV drawdown since its inception was -55.61%, smaller than the maximum BARAX drawdown of -59.71%. Use the drawdown chart below to compare losses from any high point for IWV and BARAX.
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Drawdown Indicators
| IWV | BARAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.61% | -59.71% | +4.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -10.75% | +1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -19.28% | -17.82% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -37.53% | +12.42% |
Max Drawdown (10Y)Largest decline over 10 years | -35.22% | -37.53% | +2.31% |
Current DrawdownCurrent decline from peak | -2.76% | -9.60% | +6.84% |
Average DrawdownAverage peak-to-trough decline | -10.57% | -11.41% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 5.33% | -3.32% |
Volatility
IWV vs. BARAX - Volatility Comparison
The current volatility for iShares Russell 3000 ETF (IWV) is 4.75%, while Baron Asset Fund (BARAX) has a volatility of 13.52%. This indicates that IWV experiences smaller price fluctuations and is considered to be less risky than BARAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWV | BARAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 13.52% | -8.77% |
Volatility (6M)Calculated over the trailing 6-month period | 9.91% | 15.72% | -5.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.66% | 19.78% | -7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.33% | 20.33% | -3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.40% | 20.17% | -1.77% |
IWV vs. BARAX - Expense Ratio Comparison
IWV has a 0.20% expense ratio, which is lower than BARAX's 1.29% expense ratio.
Dividends
IWV vs. BARAX - Dividend Comparison
IWV's dividend yield for the trailing twelve months is around 0.89%, less than BARAX's 11.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BARAX Baron Asset Fund | 11.02% | 11.51% | 19.23% | 3.48% | 0.01% | 7.65% | 3.05% | 1.78% | 7.42% | 7.25% | 4.88% | 11.50% |
IWV iShares Russell 3000 ETF | 0.89% | 0.96% | 1.08% | 1.30% | 1.56% | 1.04% | 1.30% | 1.69% | 1.97% | 1.58% | 1.79% | 1.99% |
Frequently Asked Questions
IWV and BARAX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BARAX has higher volatility (13.52%) compared to IWV (4.75%). In terms of maximum drawdown, IWV dropped -55.61% vs BARAX's -59.71%.
IWV currently has the higher Sharpe Ratio (1.77 vs 0.40), 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.
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