BIVIX vs. BPLEX

Last updated Jun 4, 2026

BIVIX (Invenomic Fund Institutional Class) and BPLEX (Boston Partners Long/Short Equity Fund) are both Long-Short funds. Over the past 5 years, BIVIX returned 9.18%/yr vs 23.92%/yr for BPLEX. At a 0.43 correlation, their price movements are largely independent. BIVIX charges 3.17%/yr vs 2.21%/yr for BPLEX.

Performance

BIVIX vs. BPLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invenomic Fund Institutional Class (BIVIX) and Boston Partners Long/Short Equity Fund (BPLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIVIX achieves a -13.33% return, which is significantly lower than BPLEX's 11.29% return.

BIVIX

• 1D: -4.48%
• 1M: -7.81%
• YTD: -13.33%
• 6M: -9.90%
• 1Y: -7.34%
• 3Y*: -4.36%
• 5Y*: 9.18%
• 10Y*: —

BPLEX

• 1D: -0.26%
• 1M: 2.36%
• YTD: 11.29%
• 6M: 14.22%
• 1Y: 33.42%
• 3Y*: 36.58%
• 5Y*: 23.92%
• 10Y*: 13.44%

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

BIVIX vs. BPLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIVIX Invenomic Fund Institutional Class	-13.33%	4.63%	-8.81%	16.80%	50.01%	63.81%	11.46%	11.59%	3.68%	8.93%
BPLEX Boston Partners Long/Short Equity Fund	11.29%	27.87%	56.97%	14.93%	6.95%	31.73%	-5.82%	8.97%	-15.70%	8.96%

Correlation

The correlation between BIVIX and BPLEX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 26, 2017	0.43

Over the past year, the correlation between BIVIX and BPLEX has dropped to 0.13 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

BIVIX vs. BPLEX — Risk / Return Rank

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

BIVIX

BIVIX Risk / Return Rank: 2
BIVIX Sharpe Ratio Rank: 2
BIVIX Sortino Ratio Rank: 2
BIVIX Omega Ratio Rank: 2
BIVIX Calmar Ratio Rank: 1
BIVIX Martin Ratio Rank: 1

BPLEX

BPLEX Risk / Return Rank: 94
BPLEX Sharpe Ratio Rank: 94
BPLEX Sortino Ratio Rank: 95
BPLEX Omega Ratio Rank: 87
BPLEX Calmar Ratio Rank: 96
BPLEX Martin Ratio Rank: 96

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.

BIVIX vs. BPLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invenomic Fund Institutional Class (BIVIX) and Boston Partners Long/Short Equity Fund (BPLEX). 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.

	BIVIX	BPLEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	3.23	-3.50
Sortino ratio: Return per unit of downside risk	-0.22	5.02	-5.24
Omega ratio: Gain probability vs. loss probability	0.98	1.60	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.31	6.47	-6.77
Martin ratio: Return relative to average drawdown	-0.81	23.28	-24.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIVIX vs. BPLEX - Sharpe Ratio Comparison

The current BIVIX Sharpe Ratio is -0.26, which is lower than the BPLEX Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of BIVIX and BPLEX, 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

	BIVIX	BPLEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.26	3.23	-3.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.63	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.55	+0.29

Drawdowns

BIVIX vs. BPLEX - Drawdown Comparison

The maximum BIVIX drawdown since its inception was -20.70%, smaller than the maximum BPLEX drawdown of -43.47%. Use the drawdown chart below to compare losses from any high point for BIVIX and BPLEX.

Drawdown Indicators

	BIVIX	BPLEX	Difference
Max Drawdown Largest peak-to-trough decline	-20.70%	-43.47%	+22.77%
Max Drawdown (1Y) Largest decline over 1 year	-20.70%	-5.23%	-15.47%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-28.78%	+8.08%
Max Drawdown (5Y) Largest decline over 5 years	-20.70%	-28.78%	+8.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.65%	—
Current Drawdown Current decline from peak	-18.79%	-0.26%	-18.53%
Average Drawdown Average peak-to-trough decline	-5.89%	-6.62%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.80%	1.45%	+6.35%

Volatility

BIVIX vs. BPLEX - Volatility Comparison

Invenomic Fund Institutional Class (BIVIX) has a higher volatility of 12.08% compared to Boston Partners Long/Short Equity Fund (BPLEX) at 4.05%. This indicates that BIVIX's price experiences larger fluctuations and is considered to be riskier than BPLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIVIX	BPLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.08%	4.05%	+8.03%
Volatility (6M) Calculated over the trailing 6-month period	20.18%	8.24%	+11.94%
Volatility (1Y) Calculated over the trailing 1-year period	24.20%	10.47%	+13.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	37.92%	-21.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	29.30%	-12.21%

BIVIX vs. BPLEX - Expense Ratio Comparison

BIVIX has a 3.17% expense ratio, which is higher than BPLEX's 2.21% expense ratio.

Dividends

BIVIX vs. BPLEX - Dividend Comparison

BIVIX's dividend yield for the trailing twelve months is around 2.53%, less than BPLEX's 9.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIVIX Invenomic Fund Institutional Class	2.53%	2.20%	3.95%	20.15%	27.91%	16.08%	3.15%	3.19%	4.79%	1.21%	0.00%	0.00%
BPLEX Boston Partners Long/Short Equity Fund	9.83%	10.94%	58.72%	28.35%	15.19%	5.11%	44.84%	11.33%	9.69%	0.83%	0.00%	9.91%

Frequently Asked Questions

Can I hold both BIVIX and BPLEX in my portfolio?

BIVIX and BPLEX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIVIX or BPLEX?

BIVIX has higher volatility (12.08%) compared to BPLEX (4.05%). In terms of maximum drawdown, BIVIX dropped -20.70% vs BPLEX's -43.47%.

Which has better risk-adjusted returns?

BPLEX currently has the higher Sharpe Ratio (3.23 vs -0.26), 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.