FTRFX vs. BEARX

Last updated Aug 4, 2026

FTRFX (Federated Hermes Total Return Bond Fund) and BEARX (Federated Hermes Prudent Bear Fd) are both mutual funds - FTRFX is a Intermediate Core-Plus Bond fund managed by Federated, while BEARX is a Inverse Equities fund managed by Federated. Over the past 10 years, FTRFX returned 1.53%/yr vs -14.28%/yr for BEARX. Their 0.11 correlation means their historical movements had little consistent relationship. FTRFX charges 0.69%/yr vs 1.78%/yr for BEARX.

Performance

FTRFX vs. BEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Total Return Bond Fund (FTRFX) and Federated Hermes Prudent Bear Fd (BEARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTRFX achieves a -1.44% return, which is significantly higher than BEARX's -6.86% return. Over the past 10 years, FTRFX has outperformed BEARX with an annualized return of 1.53%, while BEARX has yielded a comparatively lower -14.28% annualized return.

FTRFX

• 1D: -0.32%
• 1M: -1.49%
• 6M: -1.25%
• YTD: -1.44%
• 1Y: 2.26%
• 3Y*: 3.27%
• 5Y*: -0.85%
• 10Y*: 1.53%
• ALL TIME*: 4.22%

BEARX

• 1D: -0.84%
• 1M: 0.00%
• 6M: -5.61%
• YTD: -6.86%
• 1Y: -11.95%
• 3Y*: -14.03%
• 5Y*: -11.17%
• 10Y*: -14.28%
• ALL TIME*: -2.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BEARX Federated Hermes Prudent Bear Fd	$0.00	$0.00	$0.00
FTRFX Federated Hermes Total Return Bond Fund	$0.00	$0.00	$0.00

FTRFX vs. BEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTRFX Federated Hermes Total Return Bond Fund	-1.44%	7.28%	1.02%	4.23%	-13.31%	-0.47%	9.19%	9.42%	-1.14%	4.10%
BEARX Federated Hermes Prudent Bear Fd	-6.86%	-12.42%	-20.34%	-18.67%	17.78%	-23.78%	-22.95%	-19.95%	-5.96%	-15.76%

Correlation

The correlation between FTRFX and BEARX is -0.31, 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.	-0.31
Correlation (3Y) Balances recent behavior with more history.	-0.22
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.17
Correlation (10Y) Provides a long-term view across more market conditions.	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 30, 1996	0.11

The correlation between FTRFX and BEARX shifts across timeframes, from -0.31 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FTRFX vs. BEARX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTRFX

FTRFX Risk / Return Rank: 14
FTRFX Sharpe Ratio Rank: 14
FTRFX Sortino Ratio Rank: 13
FTRFX Omega Ratio Rank: 13
FTRFX Calmar Ratio Rank: 15
FTRFX Martin Ratio Rank: 14

BEARX

BEARX Risk / Return Rank: 0
BEARX Sharpe Ratio Rank: 0
BEARX Sortino Ratio Rank: 0
BEARX Omega Ratio Rank: 0
BEARX Calmar Ratio Rank: 1
BEARX Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTRFX vs. BEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Total Return Bond Fund (FTRFX) 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.

	FTRFX	BEARX	Difference
Sharpe ratio: Return per unit of total volatility	0.58	-0.88	+1.46
Sortino ratio: Return per unit of downside risk	0.88	-1.23	+2.12
Omega ratio: Gain probability vs. loss probability	1.11	0.85	+0.26
Calmar ratio: Return relative to maximum drawdown	0.79	-0.69	+1.48
Martin ratio: Return relative to average drawdown	2.04	-1.31	+3.35

FTRFX vs. BEARX - Sharpe Ratio Comparison

The current FTRFX Sharpe Ratio is 0.58, which is higher than the BEARX Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of FTRFX and BEARX, 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

FTRFX vs. BEARX - Drawdown Comparison

The maximum FTRFX drawdown since its inception was -17.95%, smaller than the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for FTRFX and BEARX.

Drawdown Indicators

	FTRFX	BEARX	Difference
Max Drawdown Largest peak-to-trough decline	-17.95%	-95.75%	+77.80%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-16.55%	+13.69%
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	-44.46%	+38.90%
Max Drawdown (5Y) Largest decline over 5 years	-17.95%	-52.48%	+34.53%
Max Drawdown (10Y) Largest decline over 10 years	-17.95%	-79.22%	+61.27%
Current Drawdown Current decline from peak	-4.40%	-95.62%	+91.22%
Average Drawdown Average peak-to-trough decline	-2.26%	-61.22%	+58.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	8.65%	-7.54%

Volatility

FTRFX vs. BEARX - Volatility Comparison

The current volatility for Federated Hermes Total Return Bond Fund (FTRFX) is 1.08%, while Federated Hermes Prudent Bear Fd (BEARX) has a volatility of 3.88%. This indicates that FTRFX 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.

Volatility by Period

	FTRFX	BEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	3.88%	-2.80%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	10.35%	-7.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	12.88%	-8.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.89%	17.14%	-11.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.79%	16.72%	-11.93%

FTRFX vs. BEARX - Expense Ratio Comparison

FTRFX has a 0.69% expense ratio, which is lower than BEARX's 1.78% expense ratio.

Dividends

FTRFX vs. BEARX - Dividend Comparison

FTRFX's dividend yield for the trailing twelve months is around 3.94%, less than BEARX's 7.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BEARX Federated Hermes Prudent Bear Fd	7.21%	6.71%	0.00%	13.32%	0.00%	0.00%	0.00%	0.62%	0.00%	0.00%	0.00%	0.00%
FTRFX Federated Hermes Total Return Bond Fund	3.94%	4.22%	3.48%	2.95%	2.25%	3.17%	4.36%	3.08%	3.19%	2.91%	3.33%	3.23%

Frequently Asked Questions

Can I hold both FTRFX and BEARX in my portfolio?

FTRFX and BEARX have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTRFX or BEARX?

BEARX has higher volatility (3.88%) compared to FTRFX (1.08%). In terms of maximum drawdown, FTRFX dropped -17.95% vs BEARX's -95.75%.

Which has better risk-adjusted returns?

FTRFX currently has the higher Sharpe Ratio (0.58 vs -0.88), 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.