RYCZX vs. BEARX
RYCZX (Rydex Inverse Dow 2x Strategy Fund) and BEARX (Federated Hermes Prudent Bear Fd) are both Inverse Equities funds. Over the past 10 years, RYCZX returned -25.60%/yr vs -14.19%/yr for BEARX. Their correlation of 0.83 means they have usually moved in the same direction. RYCZX charges 2.70%/yr vs 1.78%/yr for BEARX.
Performance
RYCZX vs. BEARX - Performance Comparison
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Returns By Period
In the year-to-date period, RYCZX achieves a -15.64% return, which is significantly lower than BEARX's -6.07% return. Over the past 10 years, RYCZX has underperformed BEARX with an annualized return of -25.60%, while BEARX has yielded a comparatively higher -14.19% annualized return.
RYCZX
- 1D
- -2.34%
- 1M
- 2.78%
- 6M
- -12.90%
- YTD
- -15.64%
- 1Y
- -29.67%
- 3Y*
- -20.73%
- 5Y*
- -16.29%
- 10Y*
- -25.60%
- ALL TIME*
- -23.06%
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 |
RYCZX vs. BEARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYCZX Rydex Inverse Dow 2x Strategy Fund | -15.64% | -22.14% | -16.97% | -19.05% | 5.48% | -36.32% | -45.37% | -36.65% | 0.75% | -39.59% |
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 RYCZX and BEARX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2005 | 0.83 |
Over the past year, the correlation between RYCZX and BEARX has dropped to 0.35 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.
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Return for Risk
RYCZX vs. BEARX — Risk / Return Rank
RYCZX
BEARX
RYCZX vs. BEARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Dow 2x Strategy Fund (RYCZX) 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.
| RYCZX | BEARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.86 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.64 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.42 | -1.23 | -0.19 |
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Drawdowns
RYCZX vs. BEARX - Drawdown Comparison
The maximum RYCZX drawdown since its inception was -99.80%, roughly equal to the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for RYCZX and BEARX.
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Drawdown Indicators
| RYCZX | BEARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -95.75% | -4.05% |
Max Drawdown (1Y)Largest decline over 1 year | -32.00% | -16.55% | -15.45% |
Max Drawdown (3Y)Largest decline over 3 years | -60.61% | -44.46% | -16.15% |
Max Drawdown (5Y)Largest decline over 5 years | -68.62% | -52.48% | -16.14% |
Max Drawdown (10Y)Largest decline over 10 years | -95.14% | -79.22% | -15.92% |
Current DrawdownCurrent decline from peak | -99.79% | -95.59% | -4.20% |
Average DrawdownAverage peak-to-trough decline | -78.99% | -61.21% | -17.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.84% | 8.60% | +10.24% |
Volatility
RYCZX vs. BEARX - Volatility Comparison
Rydex Inverse Dow 2x Strategy Fund (RYCZX) has a higher volatility of 7.38% compared to Federated Hermes Prudent Bear Fd (BEARX) at 3.78%. This indicates that RYCZX's price experiences larger fluctuations and is considered to be riskier 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
| RYCZX | BEARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 3.78% | +3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 19.78% | 10.32% | +9.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.10% | 12.86% | +12.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.66% | 17.15% | +12.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.21% | 16.71% | +18.50% |
RYCZX vs. BEARX - Expense Ratio Comparison
RYCZX has a 2.70% expense ratio, which is higher than BEARX's 1.78% expense ratio.
Dividends
RYCZX vs. BEARX - Dividend Comparison
RYCZX's dividend yield for the trailing twelve months is around 6.97%, less than BEARX's 7.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BEARX Federated Hermes Prudent Bear Fd | 7.15% | 6.71% | 0.00% | 13.32% | 0.00% | 0.00% | 0.00% | 0.62% |
RYCZX Rydex Inverse Dow 2x Strategy Fund | 6.97% | 5.88% | 4.32% | 1.00% | 0.00% | 0.00% | 0.05% | 0.24% |
Frequently Asked Questions
RYCZX and BEARX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYCZX has higher volatility (7.38%) compared to BEARX (3.78%). In terms of maximum drawdown, RYCZX dropped -99.80% vs BEARX's -95.75%.
BEARX currently has the higher Sharpe Ratio (-0.83 vs -1.07), 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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