Does balancer have impermanent loss?

Could you elaborate on whether Balancer, a popular decentralized exchange protocol, experiences a phenomenon known as impermanent loss? How does this potential risk factor affect users who participate in liquidity pools and engage in trading activities on the platform? What steps can be taken to mitigate the impact of impermanent loss on investment portfolios? Additionally, are there any specific factors that contribute to the occurrence of impermanent loss on Balancer, and how does it compare to other decentralized finance (DeFi) platforms?