BIVRX vs. BIVIX

Last updated Apr 3, 2026

Compare and contrast key facts about Invenomic Fund (BIVRX) and Invenomic Fund Institutional Class (BIVIX).

BIVRX is managed by Invenomic. It was launched on Jun 18, 2017. BIVIX is an actively managed fund by Invenomic. It was launched on Jun 19, 2017.

Performance

BIVRX vs. BIVIX - Performance Comparison

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

BIVRX vs. BIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIVRX Invenomic Fund	2.77%	4.39%	-9.03%	16.47%	49.61%	44.06%	11.12%	11.36%	3.41%	8.73%
BIVIX Invenomic Fund Institutional Class	3.73%	4.63%	-8.81%	16.80%	50.01%	63.81%	11.46%	11.59%	3.68%	8.93%

Returns By Period

In the year-to-date period, BIVRX achieves a 2.77% return, which is significantly lower than BIVIX's 3.73% return.

BIVRX

• 1D: -0.83%
• 1M: -0.72%
• YTD: 2.77%
• 6M: 9.01%
• 1Y: 4.38%
• 3Y*: 0.67%
• 5Y*: 13.05%
• 10Y*: —

BIVIX

• 1D: -2.18%
• 1M: 2.00%
• YTD: 3.73%
• 6M: 8.84%
• 1Y: 5.01%
• 3Y*: 1.21%
• 5Y*: 16.44%
• 10Y*: —

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

BIVRX vs. BIVIX - Expense Ratio Comparison

BIVRX has a 2.48% expense ratio, which is lower than BIVIX's 3.17% expense ratio.

BIVIX

Invenomic Fund Institutional Class

BIVRX

Invenomic Fund

Return for Risk

BIVRX vs. BIVIX — Risk / Return Rank

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

BIVRX

BIVRX Risk / Return Rank: 6
BIVRX Sharpe Ratio Rank: 6
BIVRX Sortino Ratio Rank: 7
BIVRX Omega Ratio Rank: 6
BIVRX Calmar Ratio Rank: 7
BIVRX Martin Ratio Rank: 6

BIVIX

BIVIX Risk / Return Rank: 7
BIVIX Sharpe Ratio Rank: 7
BIVIX Sortino Ratio Rank: 8
BIVIX Omega Ratio Rank: 7
BIVIX Calmar Ratio Rank: 8
BIVIX Martin Ratio Rank: 7

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.

BIVRX vs. BIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invenomic Fund (BIVRX) and Invenomic Fund Institutional Class (BIVIX). 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.

	BIVRX	BIVIX	Difference
Sharpe ratio Return per unit of total volatility	0.19	0.23	-0.05
Sortino ratio Return per unit of downside risk	0.45	0.52	-0.07
Omega ratio Gain probability vs. loss probability	1.05	1.06	-0.01
Calmar ratio Return relative to maximum drawdown	0.27	0.33	-0.06
Martin ratio Return relative to average drawdown	0.61	0.75	-0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIVRX vs. BIVIX - Sharpe Ratio Comparison

The current BIVRX Sharpe Ratio is 0.19, which is comparable to the BIVIX Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of BIVRX and BIVIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BIVRX	BIVIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	0.23	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	1.03	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.03	-0.15

Correlation

The correlation between BIVRX and BIVIX is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BIVRX vs. BIVIX - Dividend Comparison

BIVRX's dividend yield for the trailing twelve months is around 1.88%, less than BIVIX's 2.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIVRX Invenomic Fund	1.88%	1.93%	3.55%	20.26%	28.43%	3.00%	3.11%	3.21%	4.82%	1.21%
BIVIX Invenomic Fund Institutional Class	2.12%	2.20%	3.95%	20.15%	27.91%	16.08%	3.15%	3.19%	4.79%	1.21%

Drawdowns

BIVRX vs. BIVIX - Drawdown Comparison

The maximum BIVRX drawdown since its inception was -18.29%, roughly equal to the maximum BIVIX drawdown of -18.32%. Use the drawdown chart below to compare losses from any high point for BIVRX and BIVIX.

Drawdown Indicators

	BIVRX	BIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.29%	-18.32%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-13.79%	-13.71%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-17.66%	-17.23%	-0.43%
Current Drawdown Current decline from peak	-4.15%	-2.81%	-1.34%
Average Drawdown Average peak-to-trough decline	-5.91%	-5.75%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.00%	6.01%	-0.01%

Volatility

BIVRX vs. BIVIX - Volatility Comparison

Invenomic Fund (BIVRX) and Invenomic Fund Institutional Class (BIVIX) have volatilities of 7.63% and 7.80%, 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

	BIVRX	BIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	7.80%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	16.76%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	20.83%	20.78%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.96%	16.09%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	16.61%	+0.49%