CAPAX vs. BEARX
CAPAX (Federated Hermes Capital Income Fund) and BEARX (Federated Hermes Prudent Bear Fd) are both mutual funds - CAPAX is a Diversified Portfolio fund managed by Federated, while BEARX is a Inverse Equities fund managed by Federated. Over the past 10 years, CAPAX returned 6.01%/yr vs -14.19%/yr for BEARX. Their -0.69 correlation means they have often moved in opposite directions in the past. CAPAX charges 0.88%/yr vs 1.78%/yr for BEARX.
Performance
CAPAX vs. BEARX - Performance Comparison
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Returns By Period
In the year-to-date period, CAPAX achieves a 4.33% return, which is significantly higher than BEARX's -6.07% return. Over the past 10 years, CAPAX has outperformed BEARX with an annualized return of 6.01%, while BEARX has yielded a comparatively lower -14.19% annualized return.
CAPAX
- 1D
- 0.62%
- 1M
- -0.41%
- 6M
- 3.35%
- YTD
- 4.33%
- 1Y
- 10.47%
- 3Y*
- 10.38%
- 5Y*
- 4.94%
- 10Y*
- 6.01%
- ALL TIME*
- 9.68%
BEARX
- 1D
- -1.66%
- 1M
- 0.85%
- 6M
- -5.07%
- YTD
- -6.07%
- 1Y
- -11.20%
- 3Y*
- -13.79%
- 5Y*
- -11.02%
- 10Y*
- -14.19%
- ALL TIME*
- -2.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CAPAX vs. BEARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAPAX Federated Hermes Capital Income Fund | 4.33% | 11.88% | 10.21% | 10.51% | -12.43% | 9.72% | 9.48% | 15.70% | -7.13% | 10.05% |
BEARX Federated Hermes Prudent Bear Fd | -6.07% | -12.42% | -20.34% | -18.67% | 17.78% | -23.78% | -22.95% | -19.95% | -5.96% | -15.76% |
Correlation
The correlation between CAPAX and BEARX is -0.85, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.85 |
Correlation (3Y) Balances recent behavior with more history. | -0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.86 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 1995 | -0.69 |
The correlation between CAPAX and BEARX shifts across timeframes, from -0.86 (5 years) to -0.69 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CAPAX vs. BEARX — Risk / Return Rank
CAPAX
BEARX
CAPAX vs. BEARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Capital Income Fund (CAPAX) and Federated Hermes Prudent Bear Fd (BEARX). 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.
| CAPAX | BEARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.86 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | -0.64 | +2.81 |
| Martin ratioReturn relative to average drawdown | 10.01 | -1.23 | +11.24 |
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Drawdowns
CAPAX vs. BEARX - Drawdown Comparison
The maximum CAPAX drawdown since its inception was -46.13%, smaller than the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for CAPAX and BEARX.
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Drawdown Indicators
| CAPAX | BEARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.13% | -95.75% | +49.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.68% | -16.55% | +11.87% |
Max Drawdown (3Y)Largest decline over 3 years | -8.87% | -44.46% | +35.59% |
Max Drawdown (5Y)Largest decline over 5 years | -17.75% | -52.48% | +34.73% |
Max Drawdown (10Y)Largest decline over 10 years | -23.36% | -79.22% | +55.86% |
Current DrawdownCurrent decline from peak | -0.82% | -95.59% | +94.77% |
Average DrawdownAverage peak-to-trough decline | -5.77% | -61.21% | +55.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 8.60% | -7.59% |
Volatility
CAPAX vs. BEARX - Volatility Comparison
The current volatility for Federated Hermes Capital Income Fund (CAPAX) is 1.66%, while Federated Hermes Prudent Bear Fd (BEARX) has a volatility of 3.78%. This indicates that CAPAX experiences smaller price fluctuations and is considered to be less risky than BEARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAPAX | BEARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 3.78% | -2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 5.06% | 10.32% | -5.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.20% | 12.86% | -6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.82% | 17.15% | -9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.65% | 16.71% | -8.06% |
CAPAX vs. BEARX - Expense Ratio Comparison
CAPAX has a 0.88% expense ratio, which is lower than BEARX's 1.78% expense ratio.
Dividends
CAPAX vs. BEARX - Dividend Comparison
CAPAX's dividend yield for the trailing twelve months is around 3.01%, less than BEARX's 7.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BEARX Federated Hermes Prudent Bear Fd | 7.15% | 6.71% | 0.00% | 13.32% | 0.00% | 0.00% | 0.00% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% |
CAPAX Federated Hermes Capital Income Fund | 3.01% | 3.33% | 3.24% | 3.36% | 3.70% | 3.31% | 3.43% | 3.62% | 4.42% | 3.91% | 4.23% | 5.54% |
Frequently Asked Questions
CAPAX and BEARX have a correlation of -0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BEARX has higher volatility (3.78%) compared to CAPAX (1.66%). In terms of maximum drawdown, CAPAX dropped -46.13% vs BEARX's -95.75%.
CAPAX currently has the higher Sharpe Ratio (1.64 vs -0.83), 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.
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