BEARX vs. BRPIX

Last updated Jun 4, 2026

BEARX (Federated Hermes Prudent Bear Fd) and BRPIX (ProFunds Bear Fund) are both Inverse Equities funds. Over the past 10 years, BEARX returned -14.66%/yr vs -14.37%/yr for BRPIX. Their correlation of 0.85 suggests significant overlap in exposure. BEARX charges 1.78%/yr vs 1.64%/yr for BRPIX.

Performance

BEARX vs. BRPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Prudent Bear Fd (BEARX) and ProFunds Bear Fund (BRPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BEARX achieves a -9.50% return, which is significantly lower than BRPIX's -8.88% return. Both investments have delivered pretty close results over the past 10 years, with BEARX having a -14.66% annualized return and BRPIX not far ahead at -14.37%.

BEARX

• 1D: -0.29%
• 1M: -5.77%
• YTD: -9.50%
• 6M: -9.81%
• 1Y: -19.70%
• 3Y*: -16.79%
• 5Y*: -12.48%
• 10Y*: -14.66%

BRPIX

• 1D: -0.12%
• 1M: -5.14%
• YTD: -8.88%
• 6M: -8.55%
• 1Y: -18.40%
• 3Y*: -16.07%
• 5Y*: -11.52%
• 10Y*: -14.37%

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

BEARX vs. BRPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BEARX Federated Hermes Prudent Bear Fd	-9.50%	-12.42%	-20.34%	-18.67%	17.78%	-23.78%	-22.95%	-19.95%	-5.96%	-15.76%
BRPIX ProFunds Bear Fund	-8.88%	-12.27%	-20.40%	-15.39%	17.31%	-24.68%	-25.63%	-23.18%	4.03%	-18.03%

Correlation

The correlation between BEARX and BRPIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 31, 1997	0.85

Over the past year, the correlation between BEARX and BRPIX has dropped to 0.33 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

BEARX vs. BRPIX — Risk / Return Rank

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

BEARX

BEARX Risk / Return Rank: 0
BEARX Sharpe Ratio Rank: 0
BEARX Sortino Ratio Rank: 0
BEARX Omega Ratio Rank: 0
BEARX Calmar Ratio Rank: 0
BEARX Martin Ratio Rank: 0

BRPIX

BRPIX Risk / Return Rank: 0
BRPIX Sharpe Ratio Rank: 0
BRPIX Sortino Ratio Rank: 0
BRPIX Omega Ratio Rank: 0
BRPIX Calmar Ratio Rank: 0
BRPIX Martin Ratio Rank: 0

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.

BEARX vs. BRPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Prudent Bear Fd (BEARX) and ProFunds Bear Fund (BRPIX). 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.

	BEARX	BRPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.75	-1.59	-0.16
Sortino ratio: Return per unit of downside risk	-2.48	-2.29	-0.19
Omega ratio: Gain probability vs. loss probability	0.70	0.75	-0.05
Calmar ratio: Return relative to maximum drawdown	-1.00	-1.00	0.00
Martin ratio: Return relative to average drawdown	-1.89	-1.85	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BEARX vs. BRPIX - Sharpe Ratio Comparison

The current BEARX Sharpe Ratio is -1.75, which is comparable to the BRPIX Sharpe Ratio of -1.59. The chart below compares the historical Sharpe Ratios of BEARX and BRPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BEARX	BRPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.75	-1.59	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.74	-0.67	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.88	-0.81	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	-0.00	-0.02

Drawdowns

BEARX vs. BRPIX - Drawdown Comparison

The maximum BEARX drawdown since its inception was -95.75%, roughly equal to the maximum BRPIX drawdown of -96.76%. Use the drawdown chart below to compare losses from any high point for BEARX and BRPIX.

Drawdown Indicators

	BEARX	BRPIX	Difference
Max Drawdown Largest peak-to-trough decline	-95.75%	-96.76%	+1.01%
Max Drawdown (1Y) Largest decline over 1 year	-19.52%	-18.86%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-44.46%	-44.49%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-52.48%	-50.06%	-2.42%
Max Drawdown (10Y) Largest decline over 10 years	-80.48%	-79.74%	-0.74%
Current Drawdown Current decline from peak	-95.75%	-96.37%	+0.62%
Average Drawdown Average peak-to-trough decline	-61.04%	-62.10%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.45%	10.22%	+0.23%

Volatility

BEARX vs. BRPIX - Volatility Comparison

Federated Hermes Prudent Bear Fd (BEARX) and ProFunds Bear Fund (BRPIX) have volatilities of 2.86% and 2.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BEARX	BRPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	2.98%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	8.76%	9.11%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.32%	11.94%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	17.17%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	17.88%	-1.21%

BEARX vs. BRPIX - Expense Ratio Comparison

BEARX has a 1.78% expense ratio, which is higher than BRPIX's 1.64% expense ratio.

Dividends

BEARX vs. BRPIX - Dividend Comparison

BEARX's dividend yield for the trailing twelve months is around 7.42%, more than BRPIX's 4.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BEARX Federated Hermes Prudent Bear Fd	7.42%	6.71%	0.00%	13.32%	0.00%	0.00%	0.00%	0.62%
BRPIX ProFunds Bear Fund	4.77%	4.35%	0.00%	5.58%	0.00%	0.00%	0.06%	0.27%

Frequently Asked Questions

Can I hold both BEARX and BRPIX in my portfolio?

BEARX and BRPIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEARX or BRPIX?

BRPIX has higher volatility (2.98%) compared to BEARX (2.86%). In terms of maximum drawdown, BEARX dropped -95.75% vs BRPIX's -96.76%.

Which has better risk-adjusted returns?

BRPIX currently has the higher Sharpe Ratio (-1.59 vs -1.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.