BPIRX vs. BPAVX

Last updated Jun 5, 2026

BPIRX (Boston Partners Long/Short Research Fund) and BPAVX (Boston Partners All Cap Value Fund) are both mutual funds - BPIRX is a Long-Short fund managed by Boston Partners, while BPAVX is a Large Cap Value Equities fund managed by Boston Partners. Over the past 10 years, BPIRX returned 6.98%/yr vs 11.42%/yr for BPAVX. Their correlation of 0.91 suggests significant overlap in exposure. BPIRX charges 1.40%/yr vs 1.05%/yr for BPAVX.

Performance

BPIRX vs. BPAVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boston Partners Long/Short Research Fund (BPIRX) and Boston Partners All Cap Value Fund (BPAVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPIRX achieves a 4.27% return, which is significantly lower than BPAVX's 10.33% return. Over the past 10 years, BPIRX has underperformed BPAVX with an annualized return of 6.98%, while BPAVX has yielded a comparatively higher 11.42% annualized return.

BPIRX

• 1D: 0.21%
• 1M: 0.90%
• YTD: 4.27%
• 6M: 5.17%
• 1Y: 14.14%
• 3Y*: 13.88%
• 5Y*: 10.10%
• 10Y*: 6.98%

BPAVX

• 1D: -0.14%
• 1M: 4.99%
• YTD: 10.33%
• 6M: 11.48%
• 1Y: 24.46%
• 3Y*: 16.76%
• 5Y*: 9.76%
• 10Y*: 11.42%

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

BPIRX vs. BPAVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPIRX Boston Partners Long/Short Research Fund	4.27%	14.90%	13.49%	4.75%	6.48%	23.74%	-8.25%	12.60%	-10.59%	10.10%
BPAVX Boston Partners All Cap Value Fund	10.33%	17.17%	9.66%	12.25%	-2.63%	25.22%	3.85%	27.58%	-12.09%	17.60%

Correlation

The correlation between BPIRX and BPAVX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 5, 2010	0.91

The correlation between BPIRX and BPAVX has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

BPIRX vs. BPAVX — Risk / Return Rank

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

BPIRX

BPIRX Risk / Return Rank: 36
BPIRX Sharpe Ratio Rank: 36
BPIRX Sortino Ratio Rank: 36
BPIRX Omega Ratio Rank: 35
BPIRX Calmar Ratio Rank: 33
BPIRX Martin Ratio Rank: 40

BPAVX

BPAVX Risk / Return Rank: 48
BPAVX Sharpe Ratio Rank: 49
BPAVX Sortino Ratio Rank: 47
BPAVX Omega Ratio Rank: 45
BPAVX Calmar Ratio Rank: 47
BPAVX Martin Ratio Rank: 50

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.

BPIRX vs. BPAVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boston Partners Long/Short Research Fund (BPIRX) and Boston Partners All Cap Value Fund (BPAVX). 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.

	BPIRX	BPAVX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.02	-0.32
Sortino ratio: Return per unit of downside risk	2.49	2.87	-0.38
Omega ratio: Gain probability vs. loss probability	1.31	1.36	-0.05
Calmar ratio: Return relative to maximum drawdown	2.14	2.58	-0.44
Martin ratio: Return relative to average drawdown	8.47	10.14	-1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPIRX vs. BPAVX - Sharpe Ratio Comparison

The current BPIRX Sharpe Ratio is 1.71, which is comparable to the BPAVX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of BPIRX and BPAVX, 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

	BPIRX	BPAVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.02	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.64	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.62	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.59	+0.12

Drawdowns

BPIRX vs. BPAVX - Drawdown Comparison

The maximum BPIRX drawdown since its inception was -30.59%, smaller than the maximum BPAVX drawdown of -49.62%. Use the drawdown chart below to compare losses from any high point for BPIRX and BPAVX.

Drawdown Indicators

	BPIRX	BPAVX	Difference
Max Drawdown Largest peak-to-trough decline	-30.59%	-49.62%	+19.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.46%	-9.40%	+2.94%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-14.21%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-17.42%	+2.00%
Max Drawdown (10Y) Largest decline over 10 years	-30.59%	-40.64%	+10.05%
Current Drawdown Current decline from peak	-0.41%	-0.14%	-0.27%
Average Drawdown Average peak-to-trough decline	-3.86%	-5.70%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.38%	-0.75%

Volatility

BPIRX vs. BPAVX - Volatility Comparison

The current volatility for Boston Partners Long/Short Research Fund (BPIRX) is 2.24%, while Boston Partners All Cap Value Fund (BPAVX) has a volatility of 2.73%. This indicates that BPIRX experiences smaller price fluctuations and is considered to be less risky than BPAVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPIRX	BPAVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	2.73%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	9.08%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	8.09%	11.97%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.46%	15.35%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.67%	18.33%	-6.66%

BPIRX vs. BPAVX - Expense Ratio Comparison

BPIRX has a 1.40% expense ratio, which is higher than BPAVX's 1.05% expense ratio.

Dividends

BPIRX vs. BPAVX - Dividend Comparison

BPIRX's dividend yield for the trailing twelve months is around 10.21%, more than BPAVX's 8.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPAVX Boston Partners All Cap Value Fund	8.36%	9.22%	10.23%	10.94%	8.42%	5.21%	1.42%	2.34%	6.38%	4.11%	3.70%	6.44%
BPIRX Boston Partners Long/Short Research Fund	10.21%	10.65%	11.38%	11.29%	20.90%	12.51%	0.00%	2.28%	5.50%	0.00%	0.00%	3.88%

Frequently Asked Questions

Can I hold both BPIRX and BPAVX in my portfolio?

BPIRX and BPAVX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPIRX or BPAVX?

BPAVX has higher volatility (2.73%) compared to BPIRX (2.24%). In terms of maximum drawdown, BPIRX dropped -30.59% vs BPAVX's -49.62%.

Which has better risk-adjusted returns?

BPAVX currently has the higher Sharpe Ratio (2.02 vs 1.71), 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.