BPLSX vs. BPAVX

Last updated Jun 24, 2026

BPLSX (Boston Partners Long/Short Equity Fund Institutional Class) and BPAVX (Boston Partners All Cap Value Fund) are both mutual funds - BPLSX is a Long-Short fund actively managed by Boston Partners, while BPAVX is a Large Cap Value Equities fund managed by Boston Partners. Over the past 10 years, BPLSX returned 13.30%/yr vs 11.91%/yr for BPAVX. A 0.66 correlation means they provide meaningful diversification when combined. BPLSX charges 2.04%/yr vs 1.05%/yr for BPAVX.

Performance

BPLSX vs. BPAVX - 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 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, BPLSX achieves a 13.96% return, which is significantly higher than BPAVX's 10.76% return. Over the past 10 years, BPLSX has outperformed BPAVX with an annualized return of 13.30%, while BPAVX has yielded a comparatively lower 11.91% annualized 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%

BPAVX

• 1D: 0.14%
• 1M: 3.09%
• YTD: 10.76%
• 6M: 9.50%
• 1Y: 22.78%
• 3Y*: 16.48%
• 5Y*: 10.62%
• 10Y*: 11.91%

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

BPLSX vs. BPAVX - 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%	2.76%
BPAVX Boston Partners All Cap Value Fund	10.76%	17.17%	9.66%	12.25%	-2.63%	25.22%	3.85%	27.58%	-12.09%	17.60%

Correlation

The correlation between BPLSX and BPAVX is 0.76, 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	0.76
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 2, 2002	0.66

The correlation between BPLSX 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

BPLSX vs. BPAVX — 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

BPAVX

BPAVX Risk / Return Rank: 50
BPAVX Sharpe Ratio Rank: 52
BPAVX Sortino Ratio Rank: 51
BPAVX Omega Ratio Rank: 48
BPAVX Calmar Ratio Rank: 47
BPAVX Martin Ratio Rank: 52

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. BPAVX - 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 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.

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	BPAVX	Difference
Sharpe ratio: Return per unit of total volatility	3.20	1.96	+1.24
Sortino ratio: Return per unit of downside risk	4.89	2.76	+2.14
Omega ratio: Gain probability vs. loss probability	1.58	1.35	+0.23
Calmar ratio: Return relative to maximum drawdown	6.44	2.54	+3.90
Martin ratio: Return relative to average drawdown	23.24	9.94	+13.30

BPLSX vs. BPAVX - Sharpe Ratio Comparison

The current BPLSX Sharpe Ratio is 3.20, which is higher than the BPAVX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of BPLSX 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.

Drawdowns

BPLSX vs. BPAVX - Drawdown Comparison

The maximum BPLSX drawdown since its inception was -43.20%, smaller than the maximum BPAVX drawdown of -49.62%. Use the drawdown chart below to compare losses from any high point for BPLSX and BPAVX.

Drawdown Indicators

	BPLSX	BPAVX	Difference
Max Drawdown Largest peak-to-trough decline	-43.20%	-49.62%	+6.42%
Max Drawdown (1Y) Largest decline over 1 year	-5.23%	-9.40%	+4.17%
Max Drawdown (3Y) Largest decline over 3 years	-24.58%	-14.21%	-10.37%
Max Drawdown (5Y) Largest decline over 5 years	-24.58%	-17.42%	-7.16%
Max Drawdown (10Y) Largest decline over 10 years	-37.28%	-40.64%	+3.36%
Current Drawdown Current decline from peak	-1.07%	-1.22%	+0.15%
Average Drawdown Average peak-to-trough decline	-6.30%	-5.69%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	2.39%	-0.94%

Volatility

BPLSX vs. BPAVX - Volatility Comparison

Boston Partners Long/Short Equity Fund Institutional Class (BPLSX) has a higher volatility of 4.07% compared to Boston Partners All Cap Value Fund (BPAVX) at 3.59%. This indicates that BPLSX'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

	BPLSX	BPAVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.59%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	9.29%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	12.19%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.75%	15.33%	+12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.94%	18.34%	+4.60%

BPLSX vs. BPAVX - Expense Ratio Comparison

BPLSX has a 2.04% expense ratio, which is higher than BPAVX's 1.05% expense ratio.

Dividends

BPLSX vs. BPAVX - Dividend Comparison

BPLSX's dividend yield for the trailing twelve months is around 6.96%, less than BPAVX's 8.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPAVX Boston Partners All Cap Value Fund	8.33%	9.22%	10.23%	10.94%	8.42%	5.21%	1.42%	2.34%	6.38%	4.11%	3.70%	6.44%
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 BPAVX in my portfolio?

BPLSX and BPAVX have a correlation of 0.76, 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 BPAVX?

BPLSX has higher volatility (4.07%) compared to BPAVX (3.59%). In terms of maximum drawdown, BPLSX dropped -43.20% vs BPAVX's -49.62%.

Which has better risk-adjusted returns?

BPLSX currently has the higher Sharpe Ratio (3.20 vs 1.96), 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.