RONB vs. BCSM

Last updated Jun 4, 2026

RONB (Baron First Principles ETF) and BCSM (Baron SMID Cap ETF) are both exchange-traded funds - RONB is a Large Cap Growth Equities fund actively managed by Baron Capital, while BCSM is a Mid Cap Growth Equities fund actively managed by Baron Capital. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. RONB charges 1.00%/yr vs 0.75%/yr for BCSM.

Performance

RONB vs. BCSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron First Principles ETF (RONB) and Baron SMID Cap ETF (BCSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RONB achieves a -3.75% return, which is significantly lower than BCSM's 0.41% return.

RONB

• 1D: -1.11%
• 1M: 4.33%
• YTD: -3.75%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCSM

• 1D: -1.38%
• 1M: 6.09%
• YTD: 0.41%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RONB vs. BCSM - Yearly Performance Comparison

	2026 (YTD)	2025
RONB Baron First Principles ETF	-3.75%	-0.33%
BCSM Baron SMID Cap ETF	0.41%	-0.51%

Correlation

The correlation between RONB and BCSM is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.78

Return for Risk

RONB vs. BCSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron First Principles ETF (RONB) and Baron SMID Cap ETF (BCSM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RONB	BCSM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	-0.01	-0.50

Drawdowns

RONB vs. BCSM - Drawdown Comparison

The maximum RONB drawdown since its inception was -13.08%, smaller than the maximum BCSM drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for RONB and BCSM.

Drawdown Indicators

	RONB	BCSM	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-17.45%	+4.37%
Current Drawdown Current decline from peak	-5.80%	-4.06%	-1.74%
Average Drawdown Average peak-to-trough decline	-6.33%	-7.36%	+1.03%

Volatility

Volatility by Period

	RONB	BCSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.85%	20.15%	-3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	20.15%	-3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	20.15%	-3.30%

RONB vs. BCSM - Expense Ratio Comparison

RONB has a 1.00% expense ratio, which is higher than BCSM's 0.75% expense ratio.

Dividends

RONB vs. BCSM - Dividend Comparison

Neither RONB nor BCSM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RONB and BCSM in my portfolio?

RONB and BCSM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RONB or BCSM?

On fees, BCSM is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RONB or BCSM?

BCSM is cheaper with a 0.75% expense ratio, compared with 1.00% for RONB.

Which ETF pays a higher dividend yield, RONB or BCSM?

RONB and BCSM have nearly identical dividend yields, around 0.00%.

What is the main difference between RONB and BCSM?

RONB is categorized as Large Cap Growth Equities, while BCSM is Mid Cap Growth Equities. Their fees differ too: 1.00% for RONB and 0.75% for BCSM.