Prices & Performance: Baron WealthBuilder Fund (BWBFX)

Prices

as of 08/03/20

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NAV Daily Change ($) Daily Change (%) MTD QTD YTD
$15.00 $0.19 1.28% 1.28% 11.19% 22.65%

Performance

as of 06/30/20

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QTD1 YTD1 1 Year Since Inception Expense Ratio2
Gross3 Net
BWBFX - Baron WealthBuilder Fund 35.31% 10.30% 19.53% 14.53% 1.57% 1.48%
S&P 500 Index 20.54% -3.08% 7.51% 8.23%
MSCI ACWI Index 19.22% -6.25% 2.11% 2.94%

1Not annualized.

2Expense ratios are estimated for the current fiscal year.

3Includes Acquired Fund Fees and Expenses, which are indirect fees and expenses that the Fund incurs from investing in the securities of a select number of Baron mutual funds.

Performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser has reimbursed certain expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund's transfer agency expenses may be reduced by the expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted above.

NAV $15.00
Daily Change ($) $0.19
Daily Change (%) 1.28%
MTD 1.28%
QTD 11.19%
YTD 22.65%
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BWBFX - Baron WealthBuilder Fund S&P 500 Index MSCI ACWI Index
QTD1 9.78% 5.64% 5.29%
YTD1 21.10% 2.38% -1.29%
1 Year 29.46% 11.96% 7.20%
Since Inception 18.23% 10.27% 4.91%
Expense Ratio2 - Gross3 1.57%
Expense Ratio2 - Net 1.48%

*As of 07/31/20

*Annualized as of 07/31/20

1Not annualized.

2Expense ratios are estimated for the current fiscal year.

Performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser has reimbursed certain expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund's transfer agency expenses may be reduced by the expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted above.

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BWBFX - Baron WealthBuilder Fund S&P 500 Index MSCI ACWI Index
QTD1 35.31% 20.54% 19.22%
YTD1 10.30% -3.08% -6.25%
1 Year 19.53% 7.51% 2.11%
Since Inception 14.53% 8.23% 2.94%
Expense Ratio2 - Gross3 1.57%
Expense Ratio2 - Net 1.48%

*As of 06/30/20

*Annualized as of 07/31/20

1Not annualized.

2Expense ratios are estimated for the current fiscal year.

3Includes Acquired Fund Fees and Expenses, which are indirect fees and expenses that the Fund incurs from investing in the securities of a select number of Baron mutual funds.

Performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost. The Adviser has reimbursed certain expenses (by contract as long as BAMCO, Inc. is the adviser to the Fund) and the Fund's transfer agency expenses may be reduced by the expense offsets from an unaffiliated transfer agent, without which performance would have been lower. Current performance may be lower or higher than the performance data quoted above.

as of 07/31/20

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Year Baron WealthBuilder Fund S&P 500 Index MSCI ACWI Index
2019 36.24% 31.49% 26.60%
2018 -6.58% -4.38% -9.42%
Record Date 09/26/2019 12/03/2018
Ex Date 09/27/2019 12/04/2018
Payable Date 09/30/2019 12/05/2018
Income $0.0052 $0.0000
Return of Capital $0.0000 $0.0000
Short-Term Capital Gain $0.0001 $0.0000
Long-Term Capital Gain $0.4263 $0.0134
Total $0.4316 $0.0134
Re-Invest NAV $10.97 $10.14
Calendar-Yr Return -6.58%

Portfolio Characteristics

 

as of 06/30/20

Baron WealthBuilder Fund S&P 500 Index
Net Assets$145.61 million
# of Equity Securities / % of Net Assets15 / 100.1%
Turnover (2 Year Average)18.35%
Active Share88.5%
Median Market Cap$10.81 billion$21.69 billion
Weighted Average Market Cap$93.97 billion$387.38 billion
EPS Growth (3-5 year forecast)24.4%10.2%
Price/Earnings Ratio (trailing 12-month)30.121.5
Price/Book Ratio4.33.2
Price/Sales Ratio3.32.1
Current Expense Ratio Date12/31/2019

The Net Assets include all share classes combined.

Price/Book Ratio and Price/Sales Ratio are calculated using the Weighted Harmonic Average. Source: FactSet PA. Internal valuation metrics may differ.

Insights & News: BWBFX

Investors should consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectuses contain this and other information about the Funds. You may obtain them from the Funds’ distributor, Baron Capital, Inc., by calling 1-800-99BARON or visiting www.BaronFunds.com. Please read them carefully before investing.

Risks: The fund invests in other Baron funds and the selection of the underlying funds and the allocation of the Fund’s assets among the various market sectors could cause the Fund to underperform in comparison to other funds with a similar investment objective. In addition to the general stock market risk that securities may fluctuate in value, investments in developing countries may have increased risks due to a greater possibility of: settlement delays; currency and capital controls; interest rate sensitivity; corruption and crime; exchange rate volatility; and inflation or deflation. The Fund invests in companies of all sizes, including small and medium sized companies whose securities may be thinly traded and more difficult to sell during market downturns.

The Fund may not achieve its objectives.

Definitions (provided by BAMCO, Inc.): The indexes are unmanaged. The MSCI ACWI Index measures the equity market performance of large and midcap securities across developed and emerging markets, including the United States. The S&P 500 Index measures the performance of 500 widely held large-cap U.S. companies. The indexes and the Fund are with dividends, which positively impact the performance results. Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell is a trademark of Russell Investment Group. Index performance is not fund performance. Investors cannot invest directly in an index.

Definitions (provided by Baron Capital, Inc.): EPS Growth Rate (3-5 Year): indicates the long-term forecasted EPS growth of the companies in the portfolio, calculated using the weighted average of the available 3-to-5 year forecasted growth rates for each of the stocks in the portfolio provided by Factset Estimates. The EPS Growth rate does not forecast the Fund’s performance. Price/ Earnings Ratio (trailing 12-months): is a valuation ratio of a company’s current share price compared to its actual earnings per share over the last twelve months. Price/Book Ratio: is a ratio used to compare a company’s stock price to its tangible assets, and it is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Price/Sales Ratio: is a valuation ratio of a stock’s price relative to its past performance. It represents the amount an investor is willing to pay for a dollar generated from a particular company’s operations. Price/Sales is calculated by dividing a stock’s current price by its revenue per share for the last 12 months. Weighted Harmonic Average: is a calculation that reduces the impact of extreme observation on the aggregate calculation by weighting them based on their size in the fund. Active Share is a term used to describe the share of a portfolio’s holdings that differ from that portfolio’s benchmark index. It is calculated by comparing the weight of each holding in the Fund to that holding’s weight in the benchmark. Positions with either a positive or negative weighting versus the benchmark have Active Share. An Active Share of 100% implies zero overlap with the benchmark. Active Share was introduced in 2006 in a study by Yale academics, M. Cremers and A. Petajisto, as a measure of active portfolio management.

One year turnover information to the most recent quarter and average market cap (unweighted) is available upon request.

Industry sector or sub-industry group levels are provided from the Global Industry Classification Standard (“GICS”), developed and exclusively owned by MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). All GICS data is provided “as is” with no warranties.  The Adviser may have reclassified/classified certain securities in or out of a sub-industry.  Such reclassifications are not supported by S&P or MSCI.