BPLEX vs. BPAVX

Last updated Jun 4, 2026

BPLEX (Boston Partners Long/Short Equity Fund) and BPAVX (Boston Partners All Cap Value Fund) are both mutual funds - BPLEX 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, BPLEX returned 13.44%/yr vs 11.34%/yr for BPAVX. A 0.66 correlation means they provide meaningful diversification when combined. BPLEX charges 2.21%/yr vs 1.05%/yr for BPAVX.

Performance

BPLEX vs. BPAVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boston Partners Long/Short Equity Fund (BPLEX) 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, BPLEX achieves a 11.29% return, which is significantly higher than BPAVX's 9.55% return. Over the past 10 years, BPLEX has outperformed BPAVX with an annualized return of 13.44%, while BPAVX has yielded a comparatively lower 11.34% annualized return.

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%

BPAVX

• 1D: 0.68%
• 1M: 4.71%
• YTD: 9.55%
• 6M: 12.02%
• 1Y: 24.02%
• 3Y*: 16.48%
• 5Y*: 9.71%
• 10Y*: 11.34%

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

BPLEX vs. BPAVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	2.54%
BPAVX Boston Partners All Cap Value Fund	9.55%	17.17%	9.66%	12.25%	-2.63%	25.22%	3.85%	27.58%	-12.09%	17.60%

Correlation

The correlation between BPLEX and BPAVX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 3, 2002	0.66

The correlation between BPLEX and BPAVX shifts across timeframes, from 0.66 (all time) to 0.83 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BPLEX vs. BPAVX — Risk / Return Rank

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

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

BPAVX

BPAVX Risk / Return Rank: 45
BPAVX Sharpe Ratio Rank: 46
BPAVX Sortino Ratio Rank: 45
BPAVX Omega Ratio Rank: 44
BPAVX Calmar Ratio Rank: 44
BPAVX Martin Ratio Rank: 48

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.

BPLEX vs. BPAVX - Risk-Adjusted Trends Comparison

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

	BPLEX	BPAVX	Difference
Sharpe ratio Return per unit of total volatility	3.23	2.01	+1.23
Sortino ratio Return per unit of downside risk	5.02	2.85	+2.17
Omega ratio Gain probability vs. loss probability	1.60	1.36	+0.24
Calmar ratio Return relative to maximum drawdown	6.47	2.55	+3.91
Martin ratio Return relative to average drawdown	23.28	10.07	+13.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPLEX vs. BPAVX - Sharpe Ratio Comparison

The current BPLEX Sharpe Ratio is 3.23, which is higher than the BPAVX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of BPLEX 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

	BPLEX	BPAVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	2.01	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.64	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.62	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.59	-0.03

Drawdowns

BPLEX vs. BPAVX - Drawdown Comparison

The maximum BPLEX drawdown since its inception was -43.47%, smaller than the maximum BPAVX drawdown of -49.62%. Use the drawdown chart below to compare losses from any high point for BPLEX and BPAVX.

Drawdown Indicators

	BPLEX	BPAVX	Difference
Max Drawdown Largest peak-to-trough decline	-43.47%	-49.62%	+6.15%
Max Drawdown (1Y) Largest decline over 1 year	-5.23%	-9.40%	+4.17%
Max Drawdown (3Y) Largest decline over 3 years	-28.78%	-14.21%	-14.57%
Max Drawdown (5Y) Largest decline over 5 years	-28.78%	-17.42%	-11.36%
Max Drawdown (10Y) Largest decline over 10 years	-37.65%	-40.64%	+2.99%
Current Drawdown Current decline from peak	-0.26%	0.00%	-0.26%
Average Drawdown Average peak-to-trough decline	-6.62%	-5.70%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	2.38%	-0.93%

Volatility

BPLEX vs. BPAVX - Volatility Comparison

Boston Partners Long/Short Equity Fund (BPLEX) has a higher volatility of 4.05% compared to Boston Partners All Cap Value Fund (BPAVX) at 2.81%. This indicates that BPLEX's price experiences larger fluctuations and is considered to be riskier than BPAVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPLEX	BPAVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	2.81%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	9.07%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	11.97%	-1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.92%	15.34%	+22.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.30%	18.33%	+10.97%

BPLEX vs. BPAVX - Expense Ratio Comparison

BPLEX has a 2.21% expense ratio, which is higher than BPAVX's 1.05% expense ratio.

Dividends

BPLEX vs. BPAVX - Dividend Comparison

BPLEX's dividend yield for the trailing twelve months is around 9.83%, more than BPAVX's 8.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPAVX Boston Partners All Cap Value Fund	8.42%	9.22%	10.23%	10.94%	8.42%	5.21%	1.42%	2.34%	6.38%	4.11%	3.70%	6.44%
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 BPLEX and BPAVX in my portfolio?

BPLEX and BPAVX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPLEX or BPAVX?

BPLEX has higher volatility (4.05%) compared to BPAVX (2.81%). In terms of maximum drawdown, BPLEX dropped -43.47% vs BPAVX's -49.62%.

Which has better risk-adjusted returns?

BPLEX currently has the higher Sharpe Ratio (3.23 vs 2.01), 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.