LKSMX vs. BARIX
Compare and contrast key facts about LKCM Small-Mid Cap Equity Fund (LKSMX) and Baron Asset Fund Institutional Class (BARIX).
LKSMX is managed by LKCM. It was launched on May 2, 2011. BARIX is managed by Baron Capital Group. It was launched on May 29, 2009.
Performance
LKSMX vs. BARIX - Performance Comparison
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LKSMX vs. BARIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LKSMX LKCM Small-Mid Cap Equity Fund | -3.70% | 5.27% | 15.64% | 25.76% | -22.23% | 15.44% | 30.55% | 31.02% | -8.91% | 24.18% |
BARIX Baron Asset Fund Institutional Class | -7.81% | 8.17% | 10.64% | 17.36% | -25.87% | 14.17% | 33.32% | 37.98% | 0.13% | 26.55% |
Returns By Period
In the year-to-date period, LKSMX achieves a -3.70% return, which is significantly higher than BARIX's -7.81% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: LKSMX at 10.61% and BARIX at 10.61%.
LKSMX
- 1D
- 2.82%
- 1M
- -7.14%
- YTD
- -3.70%
- 6M
- -2.04%
- 1Y
- 6.10%
- 3Y*
- 10.37%
- 5Y*
- 4.28%
- 10Y*
- 10.61%
BARIX
- 1D
- 1.64%
- 1M
- -5.83%
- YTD
- -7.81%
- 6M
- -0.24%
- 1Y
- 2.78%
- 3Y*
- 7.12%
- 5Y*
- 1.68%
- 10Y*
- 10.61%
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LKSMX vs. BARIX - Expense Ratio Comparison
LKSMX has a 1.00% expense ratio, which is lower than BARIX's 1.03% expense ratio.
Return for Risk
LKSMX vs. BARIX — Risk / Return Rank
LKSMX
BARIX
LKSMX vs. BARIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LKCM Small-Mid Cap Equity Fund (LKSMX) and Baron Asset Fund Institutional Class (BARIX). 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.
| LKSMX | BARIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.33 | 0.14 | +0.19 |
Sortino ratioReturn per unit of downside risk | 0.62 | 0.37 | +0.26 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.05 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.39 | +0.15 |
Martin ratioReturn relative to average drawdown | 1.73 | 0.98 | +0.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LKSMX | BARIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 0.14 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.09 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.54 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.64 | -0.25 |
Correlation
The correlation between LKSMX and BARIX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
LKSMX vs. BARIX - Dividend Comparison
LKSMX's dividend yield for the trailing twelve months is around 6.62%, less than BARIX's 11.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LKSMX LKCM Small-Mid Cap Equity Fund | 6.62% | 6.38% | 0.00% | 0.00% | 8.27% | 17.23% | 6.48% | 14.23% | 21.66% | 12.01% | 18.07% | 7.12% |
BARIX Baron Asset Fund Institutional Class | 11.48% | 10.59% | 17.88% | 3.28% | 0.01% | 7.26% | 2.92% | 1.70% | 7.14% | 7.01% | 4.74% | 11.23% |
Drawdowns
LKSMX vs. BARIX - Drawdown Comparison
The maximum LKSMX drawdown since its inception was -39.56%, which is greater than BARIX's maximum drawdown of -37.44%. Use the drawdown chart below to compare losses from any high point for LKSMX and BARIX.
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Drawdown Indicators
| LKSMX | BARIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.56% | -37.44% | -2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -13.08% | -11.12% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -37.44% | +9.93% |
Max Drawdown (10Y)Largest decline over 10 years | -39.56% | -37.44% | -2.12% |
Current DrawdownCurrent decline from peak | -10.63% | -9.21% | -1.42% |
Average DrawdownAverage peak-to-trough decline | -7.77% | -6.74% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 4.41% | -0.39% |
Volatility
LKSMX vs. BARIX - Volatility Comparison
LKCM Small-Mid Cap Equity Fund (LKSMX) has a higher volatility of 6.99% compared to Baron Asset Fund Institutional Class (BARIX) at 3.91%. This indicates that LKSMX's price experiences larger fluctuations and is considered to be riskier than BARIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LKSMX | BARIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 3.91% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 11.83% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.68% | 19.02% | +1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.88% | 19.65% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.32% | 19.84% | +1.48% |