FUSGX vs. BEARX

Last updated Aug 1, 2026

FUSGX (Federated Hermes Fund For US Governent Securities) and BEARX (Federated Hermes Prudent Bear Fd) are both mutual funds - FUSGX is a Government Bonds fund managed by Federated, while BEARX is a Inverse Equities fund managed by Federated. Over the past 10 years, FUSGX returned 0.60%/yr vs -14.19%/yr for BEARX. Their 0.07 correlation means their historical movements had little consistent relationship. FUSGX charges 0.96%/yr vs 1.78%/yr for BEARX.

Performance

FUSGX vs. BEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Fund For US Governent Securities (FUSGX) 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, FUSGX achieves a -0.61% return, which is significantly higher than BEARX's -6.07% return. Over the past 10 years, FUSGX has outperformed BEARX with an annualized return of 0.60%, while BEARX has yielded a comparatively lower -14.19% annualized return.

FUSGX

• 1D: 0.00%
• 1M: -0.96%
• 6M: -1.39%
• YTD: -0.61%
• 1Y: 4.01%
• 3Y*: 3.55%
• 5Y*: -0.49%
• 10Y*: 0.60%
• ALL TIME*: 2.02%

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%

*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
FUSGX Federated Hermes Fund For US Governent Securities	$0.00	$0.00	$0.00

FUSGX vs. BEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUSGX Federated Hermes Fund For US Governent Securities	-0.61%	8.00%	0.48%	4.20%	-12.04%	-2.17%	3.73%	5.86%	0.03%	1.64%
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 FUSGX and BEARX is -0.30, 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.	-0.30
Correlation (3Y) Balances recent behavior with more history.	-0.21
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.18
Correlation (10Y) Provides a long-term view across more market conditions.	-0.06
Correlation (All Time) Calculated using the full available price history since Dec 28, 1995	0.07

The correlation between FUSGX and BEARX shifts across timeframes, from -0.30 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FUSGX vs. BEARX — Risk / Return Rank

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

FUSGX

FUSGX Risk / Return Rank: 20
FUSGX Sharpe Ratio Rank: 19
FUSGX Sortino Ratio Rank: 19
FUSGX Omega Ratio Rank: 20
FUSGX Calmar Ratio Rank: 21
FUSGX Martin Ratio Rank: 19

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.

FUSGX vs. BEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Fund For US Governent Securities (FUSGX) 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.

	FUSGX	BEARX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	-0.83	+1.60
Sortino ratio: Return per unit of downside risk	1.15	-1.15	+2.30
Omega ratio: Gain probability vs. loss probability	1.15	0.86	+0.28
Calmar ratio: Return relative to maximum drawdown	1.07	-0.64	+1.71
Martin ratio: Return relative to average drawdown	2.82	-1.23	+4.05

FUSGX vs. BEARX - Sharpe Ratio Comparison

The current FUSGX Sharpe Ratio is 0.78, which is higher than the BEARX Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of FUSGX 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

FUSGX vs. BEARX - Drawdown Comparison

The maximum FUSGX drawdown since its inception was -33.96%, smaller than the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for FUSGX and BEARX.

Drawdown Indicators

	FUSGX	BEARX	Difference
Max Drawdown Largest peak-to-trough decline	-33.96%	-95.75%	+61.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.44%	-16.55%	+13.11%
Max Drawdown (3Y) Largest decline over 3 years	-6.77%	-44.46%	+37.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.36%	-52.48%	+34.12%
Max Drawdown (10Y) Largest decline over 10 years	-19.13%	-79.22%	+60.09%
Current Drawdown Current decline from peak	-3.37%	-95.59%	+92.22%
Average Drawdown Average peak-to-trough decline	-4.68%	-61.21%	+56.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	8.60%	-7.30%

Volatility

FUSGX vs. BEARX - Volatility Comparison

The current volatility for Federated Hermes Fund For US Governent Securities (FUSGX) is 1.33%, while Federated Hermes Prudent Bear Fd (BEARX) has a volatility of 3.78%. This indicates that FUSGX 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

	FUSGX	BEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	3.78%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	3.57%	10.32%	-6.75%
Volatility (1Y) Calculated over the trailing 1-year period	4.78%	12.86%	-8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	17.15%	-10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.07%	16.71%	-11.64%

FUSGX vs. BEARX - Expense Ratio Comparison

FUSGX has a 0.96% expense ratio, which is lower than BEARX's 1.78% expense ratio.

Dividends

FUSGX vs. BEARX - Dividend Comparison

FUSGX's dividend yield for the trailing twelve months is around 3.68%, 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%
FUSGX Federated Hermes Fund For US Governent Securities	3.68%	3.76%	3.60%	3.08%	2.33%	1.63%	2.06%	2.51%	2.51%	2.32%	2.39%	2.53%

Frequently Asked Questions

Can I hold both FUSGX and BEARX in my portfolio?

FUSGX and BEARX have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FUSGX or BEARX?

BEARX has higher volatility (3.78%) compared to FUSGX (1.33%). In terms of maximum drawdown, FUSGX dropped -33.96% vs BEARX's -95.75%.

Which has better risk-adjusted returns?

FUSGX currently has the higher Sharpe Ratio (0.78 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.