BSFIX Performance — Baron Small Cap Fund, Institutional Shares
Data updated: 2026-08-28
BSFIX returned +3.67% year to date and +2.61% over one year to Jun 2026. Annualised returns are +8.49% over 3 years and +1.71% over 5 years. The fund trailed its US Multi-Cap Growth category average: $100 invested three years ago grew to $128, against $164 for the category, and to $103 over one year, against $122. Volatility over the past three years was 18.35% a year. In the 12 months to Jun 2026 the fund lost a net $883.4M, and assets reached $2.85B.
BSFIX Growth of $100
What $100 invested in Baron Small Cap Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Multi-Cap Growth category average over the same months.
| Period | BSFIX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $103 | $122 |
| 3 years (Jul 2023 – Jun 2026) | $128 | $164 |
| 5 years (Jul 2021 – Jun 2026) | $109 | $145 |
| Since data start (Jul 2019 – Jun 2026) | $174 | $239 |
BSFIX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +3.67% |
| 1 year | +2.61% |
| 3 years (annualised) | +8.49% |
| 5 years (annualised) | +1.71% |
BSFIX Annual Returns
Calendar-year total returns of Baron Small Cap Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +3.67% |
| 2025 | −0.66% |
| 2024 | +13.63% |
| 2023 | +27.18% |
| 2022 | −31.05% |
| 2021 | +15.83% |
| 2020 | +40.69% |
| 2019 (Jul–Dec) | +4.36% |
BSFIX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.2% | −1.4% | −6.9% | +4.2% | +1.9% | +6.0% | — | — | — | — | — | — |
| 2025 | +6.7% | −7.3% | −8.0% | −2.2% | +7.9% | +4.7% | +2.1% | −0.1% | −1.4% | −1.7% | +0.7% | −0.5% |
| 2024 | −0.5% | +7.5% | +4.5% | −7.8% | +2.9% | −1.4% | +5.2% | +1.1% | +3.2% | −2.1% | +9.3% | −7.4% |
| 2023 | +12.6% | −1.0% | −1.8% | −1.0% | −3.5% | +11.5% | +3.5% | −1.2% | −5.3% | −7.4% | +11.0% | +9.6% |
| 2022 | −14.1% | −3.1% | +1.2% | −9.3% | −3.2% | −7.3% | +10.3% | −3.5% | −9.5% | +8.2% | +3.6% | −7.0% |
| 2021 | −1.4% | +4.9% | −0.7% | +6.9% | −3.3% | +2.9% | +2.0% | +4.5% | −5.0% | +7.0% | −4.7% | +2.6% |
| 2020 | +1.7% | −5.4% | −20.3% | +16.4% | +12.8% | +3.4% | +6.8% | +6.9% | +0.7% | −3.1% | +14.4% | +6.1% |
| 2019 | — | — | — | — | — | — | +0.2% | −3.0% | −1.9% | +2.8% | +5.6% | +0.9% |
BSFIX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 18.35%
- 3-year Sharpe ratio: 0.22 (vs 4.5% risk-free rate)
- Best month: +10.97% (Nov 2023)
- Worst month: −8.01% (Mar 2025)
BSFIX Fund Flows
Monthly money in and out of Baron Small Cap Fund, from SEC Form N-PORT.
- 12-month net flow: −$883.4M
- 12-month gross sales (incl. reinvestments): $2.0B
- Sales ÷ redemptions: 0.70×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $115.3M | $185.2M | −$69.9M |
| May 2026 | $126.5M | $177.4M | −$51.0M |
| Apr 2026 | $82.5M | $141.4M | −$59.0M |
| Mar 2026 | $311.7M | $690.2M | −$378.5M |
| Feb 2026 | $149.6M | $229.6M | −$80.0M |
| Jan 2026 | $118.1M | $177.1M | −$59.0M |
| Dec 2025 | $423.7M | $249.4M | $174.3M |
| Nov 2025 | $99.5M | $159.4M | −$60.0M |
| Oct 2025 | $98.3M | $150.9M | −$52.7M |
| Sep 2025 | $117.4M | $158.8M | −$41.4M |
| Aug 2025 | $229.0M | $259.0M | −$30.0M |
| Jul 2025 | $159.4M | $335.7M | −$176.3M |
BSFIX Assets Under Management
Net assets of Baron Small Cap Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $2.85B |
| 2026-03-31 | $2.70B |
| 2025-12-31 | $3.47B |
| 2025-09-30 | $3.76B |
| 2025-06-30 | $3.98B |
| 2025-03-31 | $3.76B |
| 2024-12-31 | $4.34B |
| 2024-09-30 | $4.52B |
| 2024-06-30 | $4.53B |
| 2024-03-31 | $5.13B |
| 2023-12-31 | $4.63B |
| 2023-09-30 | $4.22B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.