OBMCX vs. BFGFX

Last updated Jun 23, 2026

OBMCX (Oberweis Micro Cap Fund) and BFGFX (Baron Focused Growth Fund) are both mutual funds - OBMCX is a Small Cap Growth Equities fund managed by Oberweis, while BFGFX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc.. Over the past 10 years, OBMCX returned 22.03%/yr vs 21.92%/yr for BFGFX. A 0.68 correlation means they provide meaningful diversification when combined. OBMCX charges 1.48%/yr vs 1.32%/yr for BFGFX.

Performance

OBMCX vs. BFGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oberweis Micro Cap Fund (OBMCX) and Baron Focused Growth Fund (BFGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OBMCX achieves a 50.06% return, which is significantly higher than BFGFX's 11.20% return. Both investments have delivered pretty close results over the past 10 years, with OBMCX having a 22.03% annualized return and BFGFX not far behind at 21.92%.

OBMCX

• 1D: 2.68%
• 1M: 6.77%
• YTD: 50.06%
• 6M: 45.35%
• 1Y: 81.20%
• 3Y*: 29.33%
• 5Y*: 20.91%
• 10Y*: 22.03%

BFGFX

• 1D: -0.76%
• 1M: 12.63%
• YTD: 11.20%
• 6M: 8.27%
• 1Y: 33.93%
• 3Y*: 22.91%
• 5Y*: 14.16%
• 10Y*: 21.92%

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

OBMCX vs. BFGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OBMCX Oberweis Micro Cap Fund	50.06%	14.70%	22.82%	18.87%	-10.57%	53.20%	29.91%	21.94%	-12.04%	27.90%
BFGFX Baron Focused Growth Fund	11.20%	21.94%	29.52%	27.40%	-28.21%	18.67%	122.38%	30.05%	3.76%	26.36%

Correlation

The correlation between OBMCX and BFGFX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 31, 2004	0.68

Over the past year, the correlation between OBMCX and BFGFX has dropped to 0.45 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

OBMCX vs. BFGFX — Risk / Return Rank

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

OBMCX

OBMCX Risk / Return Rank: 91
OBMCX Sharpe Ratio Rank: 96
OBMCX Sortino Ratio Rank: 85
OBMCX Omega Ratio Rank: 82
OBMCX Calmar Ratio Rank: 97
OBMCX Martin Ratio Rank: 97

BFGFX

BFGFX Risk / Return Rank: 53
BFGFX Sharpe Ratio Rank: 36
BFGFX Sortino Ratio Rank: 58
BFGFX Omega Ratio Rank: 46
BFGFX Calmar Ratio Rank: 80
BFGFX Martin Ratio Rank: 47

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.

OBMCX vs. BFGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oberweis Micro Cap Fund (OBMCX) and Baron Focused Growth Fund (BFGFX). 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.

	OBMCX	BFGFX	Difference
Sharpe ratio: Return per unit of total volatility	3.13	1.60	+1.53
Sortino ratio: Return per unit of downside risk	3.74	2.92	+0.82
Omega ratio: Gain probability vs. loss probability	1.49	1.34	+0.15
Calmar ratio: Return relative to maximum drawdown	6.55	3.46	+3.09
Martin ratio: Return relative to average drawdown	25.93	9.28	+16.65

OBMCX vs. BFGFX - Sharpe Ratio Comparison

The current OBMCX Sharpe Ratio is 3.13, which is higher than the BFGFX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of OBMCX and BFGFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OBMCX vs. BFGFX - Drawdown Comparison

The maximum OBMCX drawdown since its inception was -68.24%, which is greater than BFGFX's maximum drawdown of -59.52%. Use the drawdown chart below to compare losses from any high point for OBMCX and BFGFX.

Drawdown Indicators

	OBMCX	BFGFX	Difference
Max Drawdown Largest peak-to-trough decline	-68.24%	-59.52%	-8.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.45%	-9.74%	-2.71%
Max Drawdown (3Y) Largest decline over 3 years	-28.11%	-21.00%	-7.11%
Max Drawdown (5Y) Largest decline over 5 years	-28.11%	-35.93%	+7.82%
Max Drawdown (10Y) Largest decline over 10 years	-50.04%	-43.62%	-6.42%
Current Drawdown Current decline from peak	0.00%	-3.92%	+3.92%
Average Drawdown Average peak-to-trough decline	-16.39%	-12.34%	-4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	3.63%	-0.49%

Volatility

OBMCX vs. BFGFX - Volatility Comparison

Oberweis Micro Cap Fund (OBMCX) and Baron Focused Growth Fund (BFGFX) have volatilities of 10.07% and 9.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OBMCX	BFGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.07%	9.75%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	20.24%	14.32%	+5.92%
Volatility (1Y) Calculated over the trailing 1-year period	26.06%	21.03%	+5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.42%	22.66%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.00%	24.15%	+1.85%

OBMCX vs. BFGFX - Expense Ratio Comparison

OBMCX has a 1.48% expense ratio, which is higher than BFGFX's 1.32% expense ratio.

Dividends

OBMCX vs. BFGFX - Dividend Comparison

OBMCX's dividend yield for the trailing twelve months is around 0.94%, while BFGFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFGFX Baron Focused Growth Fund	0.00%	0.00%	0.00%	0.00%	12.28%	15.53%	2.85%	1.78%	1.07%	2.11%	6.02%	5.80%
OBMCX Oberweis Micro Cap Fund	0.94%	1.41%	2.53%	0.00%	1.37%	24.35%	0.00%	0.00%	19.67%	11.76%	0.05%	3.07%

Frequently Asked Questions

Can I hold both OBMCX and BFGFX in my portfolio?

OBMCX and BFGFX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OBMCX or BFGFX?

OBMCX has higher volatility (10.07%) compared to BFGFX (9.75%). In terms of maximum drawdown, OBMCX dropped -68.24% vs BFGFX's -59.52%.

Which has better risk-adjusted returns?

OBMCX currently has the higher Sharpe Ratio (3.13 vs 1.60), 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.