BPLSX vs. BIVIX

Last updated Jun 24, 2026

BPLSX (Boston Partners Long/Short Equity Fund Institutional Class) and BIVIX (Invenomic Fund Institutional Class) are both Long-Short funds. Both are actively managed. Over the past 5 years, BPLSX returned 24.16%/yr vs 8.80%/yr for BIVIX. At a 0.43 correlation, their price movements are largely independent. BPLSX charges 2.04%/yr vs 3.17%/yr for BIVIX.

Performance

BPLSX vs. BIVIX - Performance Comparison

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

Returns By Period

In the year-to-date period, BPLSX achieves a 13.96% return, which is significantly higher than BIVIX's -22.03% return.

BPLSX

• 1D: 0.24%
• 1M: 4.21%
• YTD: 13.96%
• 6M: 14.12%
• 1Y: 32.54%
• 3Y*: 33.35%
• 5Y*: 24.16%
• 10Y*: 13.30%

BIVIX

• 1D: -3.16%
• 1M: -11.08%
• YTD: -22.03%
• 6M: -19.30%
• 1Y: -15.80%
• 3Y*: -7.50%
• 5Y*: 8.80%
• 10Y*: —

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

BPLSX vs. BIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPLSX Boston Partners Long/Short Equity Fund Institutional Class	13.96%	28.28%	43.67%	15.23%	7.22%	32.04%	-5.68%	9.22%	-15.47%	9.69%
BIVIX Invenomic Fund Institutional Class	-22.03%	4.63%	-8.81%	16.80%	50.01%	63.81%	11.46%	11.59%	3.68%	8.93%

Correlation

The correlation between BPLSX and BIVIX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017	0.43

Over the past year, the correlation between BPLSX and BIVIX has dropped to 0.12 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

BPLSX vs. BIVIX — Risk / Return Rank

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

BPLSX

BPLSX Risk / Return Rank: 95
BPLSX Sharpe Ratio Rank: 96
BPLSX Sortino Ratio Rank: 96
BPLSX Omega Ratio Rank: 88
BPLSX Calmar Ratio Rank: 97
BPLSX Martin Ratio Rank: 97

BIVIX

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

BPLSX vs. BIVIX - Risk-Adjusted Trends Comparison

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

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BPLSX	BIVIX	Difference
Sharpe ratio: Return per unit of total volatility	3.20	-0.61	+3.81
Sortino ratio: Return per unit of downside risk	4.89	-0.77	+5.67
Omega ratio: Gain probability vs. loss probability	1.58	0.91	+0.67
Calmar ratio: Return relative to maximum drawdown	6.44	-0.60	+7.03
Martin ratio: Return relative to average drawdown	23.24	-1.78	+25.02

BPLSX vs. BIVIX - Sharpe Ratio Comparison

The current BPLSX Sharpe Ratio is 3.20, which is higher than the BIVIX Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of BPLSX and BIVIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BPLSX vs. BIVIX - Drawdown Comparison

The maximum BPLSX drawdown since its inception was -43.20%, which is greater than BIVIX's maximum drawdown of -26.95%. Use the drawdown chart below to compare losses from any high point for BPLSX and BIVIX.

Drawdown Indicators

	BPLSX	BIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-43.20%	-26.95%	-16.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.23%	-26.95%	+21.72%
Max Drawdown (3Y) Largest decline over 3 years	-24.58%	-26.95%	+2.37%
Max Drawdown (5Y) Largest decline over 5 years	-24.58%	-26.95%	+2.37%
Max Drawdown (10Y) Largest decline over 10 years	-37.28%	—	—
Current Drawdown Current decline from peak	-1.07%	-26.95%	+25.88%
Average Drawdown Average peak-to-trough decline	-6.30%	-5.96%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	9.01%	-7.56%

Volatility

BPLSX vs. BIVIX - Volatility Comparison

The current volatility for Boston Partners Long/Short Equity Fund Institutional Class (BPLSX) is 4.07%, while Invenomic Fund Institutional Class (BIVIX) has a volatility of 12.50%. This indicates that BPLSX experiences smaller price fluctuations and is considered to be less risky than BIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPLSX	BIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	12.50%	-8.43%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	22.10%	-13.72%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	26.30%	-15.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.75%	17.21%	+10.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.94%	17.40%	+5.54%

BPLSX vs. BIVIX - Expense Ratio Comparison

BPLSX has a 2.04% expense ratio, which is lower than BIVIX's 3.17% expense ratio.

Dividends

BPLSX vs. BIVIX - Dividend Comparison

BPLSX's dividend yield for the trailing twelve months is around 6.96%, more than BIVIX's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIVIX Invenomic Fund Institutional Class	2.82%	2.20%	3.95%	20.15%	27.91%	16.08%	3.15%	3.19%	4.79%	1.21%	0.00%	0.00%
BPLSX Boston Partners Long/Short Equity Fund Institutional Class	6.96%	7.93%	44.35%	22.61%	12.63%	4.36%	38.62%	10.22%	8.85%	0.76%	0.00%	9.19%

Frequently Asked Questions

Can I hold both BPLSX and BIVIX in my portfolio?

BPLSX and BIVIX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPLSX or BIVIX?

BIVIX has higher volatility (12.50%) compared to BPLSX (4.07%). In terms of maximum drawdown, BPLSX dropped -43.20% vs BIVIX's -26.95%.

Which has better risk-adjusted returns?

BPLSX currently has the higher Sharpe Ratio (3.20 vs -0.61), 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.