Prices & Performance

Prices

as of 08/23/19

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NAV Daily Change ($) Daily Change (%) MTD QTD YTD
$11.43 -$0.27 -2.31% -4.11% -2.81% 22.25%

Performance

 

as of 07/31/19

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QTD1 YTD1 1 Year Since Inception Expense Ratio2
Gross3 Net
BWBIX - Baron WealthBuilder Fund - I 1.36% 27.49% 9.20% 11.82% 1.61% 1.17%
S&P 500 Index 1.44% 20.24% 7.99% 9.21%
MSCI ACWI Index 0.29% 16.57% 2.95% 3.50%

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 06/30/19

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QTD1 YTD1 1 Year Since Inception Expense Ratio2
Gross3 Net
BWBIX - Baron WealthBuilder Fund - I 5.85% 25.78% 9.64% 11.51% 1.61% 1.17%
S&P 500 Index 4.30% 18.54% 10.42% 8.71%
MSCI ACWI Index 3.61% 16.23% 5.74% 3.49%

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 $11.43
Daily Change ($) -$0.27
Daily Change (%) -2.31%
MTD -4.11%
QTD -2.81%
YTD 22.25%
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BWBIX - Baron WealthBuilder Fund - I S&P 500 Index MSCI ACWI Index
QTD1 1.36% 1.44% 0.29%
YTD1 27.49% 20.24% 16.57%
1 Year 9.20% 7.99% 2.95%
Since Inception 11.82% 9.21% 3.50%
Expense Ratio2 - Gross3 1.61%
Expense Ratio2 - Net 1.17%

*As of 07/31/19

*Annualized as of 07/31/19

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.

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BWBIX - Baron WealthBuilder Fund - I S&P 500 Index MSCI ACWI Index
QTD1 5.85% 4.30% 3.61%
YTD1 25.78% 18.54% 16.23%
1 Year 9.64% 10.42% 5.74%
Since Inception 11.51% 8.71% 3.49%
Expense Ratio2 - Gross3 1.61%
Expense Ratio2 - Net 1.17%

*As of 06/30/19

*Annualized as of 07/31/19

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 08/25/19

3 Years 5 Years 10 Years Since Inception

as of 07/31/19

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Year Baron WealthBuilder Fund S&P 500 Index MSCI ACWI Index
2018 -6.38% -4.38% -9.42%
Select Year
Record Date 12/03/2018
Ex Date 12/04/2018
Payable Date 12/05/2018
Income $0.000
Return of Capital $0.000
Short-Term Capital Gain $0.000
Long-Term Capital Gain $0.013
Total $0.013
Re-Invest NAV $10.16
Calendar-Yr Return -6.38%

Portfolio Characteristics

 

as of 06/30/19

Baron WealthBuilder Fund S&P 500 Index
Net Assets$95.03 million
# of Equity Securities / % of Net Assets14 / 103.5%
Turnover (1 Year)29.75%
Active Share95.1%
Median Market Cap$7.90 billion$22.70 billion
Weighted Average Market Cap$51.09 billion$242.28 billion
EPS Growth (3-5 year forecast)16.2%11.6%
Price/Earnings Ratio (trailing 12-month)29.419.9
Price/Book Ratio3.91.4
Price/Sales Ratio3.12.1
Current Expense Ratio Date12/31/2018

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.

Holdings

as of 06/30/19

Name Asset Class % of Long Positions

Baron Asset Fund - Institutional Shares

Mid-Cap Growth 16.3%

Baron Partners Fund - Institutional Shares

All-Cap Growth 14.9%

Baron Small Cap Fund - Institutional Shares

Small-Cap Growth 14.4%

Baron Growth Fund - Institutional Shares

Small-Cap Growth 14.3%

Baron Opportunity Fund - Institutional Shares

All-Cap Growth 6.6%

Baron Fifth Avenue Growth Fund - Institutional Shares

Large-Cap Growth 6.3%

Baron Emerging Markets Fund - Institutional Shares

International 5.3%

Baron Discovery Fund - Institutional Shares

Small-Cap Growth 4.5%

Baron Real Estate Fund - Institutional Shares

Sector 4.5%

Baron Global Advantage Fund - Institutional Shares

International 4.3%

Baron Focused Growth Fund - Institutional Shares

Small- to Mid-Cap Growth 3.9%

Baron International Growth Fund - Institutional Shares

International 3.0%

Baron Durable Advantage Fund - Institutional Shares

Large-Cap Growth 1.0%

Baron Health Care Fund - Institutional Shares

Sector 0.7%

Portfolio holdings may change over time.

Insights & News

Documents

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.