VKSIX vs. BARAX

Last updated Apr 2, 2026

Compare and contrast key facts about Virtus KAR Small-Mid Cap Core Fund (VKSIX) and Baron Asset Fund (BARAX).

VKSIX is managed by Virtus. It was launched on Mar 7, 2018. BARAX is managed by Baron Capital Group, Inc.. It was launched on Jun 12, 1987.

Performance

VKSIX vs. BARAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus KAR Small-Mid Cap Core Fund (VKSIX) and Baron Asset Fund (BARAX). The values are adjusted to include any dividend payments, if applicable.

VKSIX vs. BARAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VKSIX Virtus KAR Small-Mid Cap Core Fund	-6.61%	-4.36%	9.07%	23.61%	-23.83%	19.54%	33.45%	38.81%	-6.68%
BARAX Baron Asset Fund	-7.87%	7.89%	10.35%	17.05%	-26.06%	13.88%	32.98%	37.64%	-5.41%

Returns By Period

In the year-to-date period, VKSIX achieves a -6.61% return, which is significantly higher than BARAX's -7.87% return.

VKSIX

• 1D: 2.55%
• 1M: -8.69%
• YTD: -6.61%
• 6M: -10.38%
• 1Y: -7.96%
• 3Y*: 3.69%
• 5Y*: 0.09%
• 10Y*: —

BARAX

• 1D: 1.64%
• 1M: -5.84%
• YTD: -7.87%
• 6M: -0.37%
• 1Y: 2.50%
• 3Y*: 6.84%
• 5Y*: 1.42%
• 10Y*: 10.32%

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

VKSIX vs. BARAX - Expense Ratio Comparison

VKSIX has a 1.02% expense ratio, which is lower than BARAX's 1.29% expense ratio.

BARAX

Baron Asset Fund

VKSIX

Virtus KAR Small-Mid Cap Core Fund

Return for Risk

VKSIX vs. BARAX — Risk / Return Rank

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

VKSIX

VKSIX Risk / Return Rank: 2
VKSIX Sharpe Ratio Rank: 2
VKSIX Sortino Ratio Rank: 2
VKSIX Omega Ratio Rank: 2
VKSIX Calmar Ratio Rank: 2
VKSIX Martin Ratio Rank: 2

BARAX

BARAX Risk / Return Rank: 9
BARAX Sharpe Ratio Rank: 6
BARAX Sortino Ratio Rank: 7
BARAX Omega Ratio Rank: 7
BARAX Calmar Ratio Rank: 12
BARAX Martin Ratio Rank: 11

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.

VKSIX vs. BARAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus KAR Small-Mid Cap Core Fund (VKSIX) 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.

	VKSIX	BARAX	Difference
Sharpe ratio Return per unit of total volatility	-0.39	0.13	-0.52
Sortino ratio Return per unit of downside risk	-0.46	0.35	-0.80
Omega ratio Gain probability vs. loss probability	0.95	1.04	-0.10
Calmar ratio Return relative to maximum drawdown	-0.45	0.36	-0.81
Martin ratio Return relative to average drawdown	-1.22	0.90	-2.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VKSIX vs. BARAX - Sharpe Ratio Comparison

The current VKSIX Sharpe Ratio is -0.39, which is lower than the BARAX Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of VKSIX and BARAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VKSIX	BARAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.39	0.13	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.07	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.49	-0.09

Correlation

The correlation between VKSIX and BARAX 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

VKSIX vs. BARAX - Dividend Comparison

VKSIX's dividend yield for the trailing twelve months is around 0.37%, less than BARAX's 12.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VKSIX Virtus KAR Small-Mid Cap Core Fund	0.37%	0.34%	0.43%	0.00%	0.00%	1.13%	0.01%	0.00%	1.47%	0.00%	0.00%	0.00%
BARAX Baron Asset Fund	12.49%	11.51%	19.23%	3.48%	0.01%	7.65%	3.05%	1.78%	7.42%	7.25%	4.88%	11.50%

Drawdowns

VKSIX vs. BARAX - Drawdown Comparison

The maximum VKSIX drawdown since its inception was -35.59%, smaller than the maximum BARAX drawdown of -59.71%. Use the drawdown chart below to compare losses from any high point for VKSIX and BARAX.

Drawdown Indicators

	VKSIX	BARAX	Difference
Max Drawdown Largest peak-to-trough decline	-35.59%	-59.71%	+24.12%
Max Drawdown (1Y) Largest decline over 1 year	-16.70%	-11.12%	-5.58%
Max Drawdown (5Y) Largest decline over 5 years	-32.49%	-37.53%	+5.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.53%	—
Current Drawdown Current decline from peak	-17.65%	-9.28%	-8.37%
Average Drawdown Average peak-to-trough decline	-8.73%	-11.44%	+2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.11%	4.44%	+1.67%

Volatility

VKSIX vs. BARAX - Volatility Comparison

Virtus KAR Small-Mid Cap Core Fund (VKSIX) has a higher volatility of 5.13% compared to Baron Asset Fund (BARAX) at 3.90%. This indicates that VKSIX's price experiences larger fluctuations and is considered to be riskier than BARAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VKSIX	BARAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	3.90%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	11.83%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	19.02%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.14%	19.56%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.07%	19.79%	+1.28%