RYTPX vs. BEARX

Last updated Jun 23, 2026

RYTPX (Rydex Inverse S&P 500 2x Strategy Fund) and BEARX (Federated Hermes Prudent Bear Fd) are both Inverse Equities funds. Over the past 10 years, RYTPX returned -17.47%/yr vs -14.52%/yr for BEARX. Their correlation of 0.85 suggests significant overlap in exposure. RYTPX charges 2.16%/yr vs 1.78%/yr for BEARX.

Performance

RYTPX vs. BEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) 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, RYTPX achieves a -15.51% return, which is significantly lower than BEARX's -7.92% return. Over the past 10 years, RYTPX has underperformed BEARX with an annualized return of -17.47%, while BEARX has yielded a comparatively higher -14.52% annualized return.

RYTPX

• 1D: -2.11%
• 1M: 0.57%
• YTD: -15.51%
• 6M: -14.55%
• 1Y: -33.71%
• 3Y*: -27.15%
• 5Y*: -22.52%
• 10Y*: -17.47%

BEARX

• 1D: -1.13%
• 1M: 0.00%
• YTD: -7.92%
• 6M: -8.01%
• 1Y: -18.11%
• 3Y*: -15.43%
• 5Y*: -12.35%
• 10Y*: -14.52%

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

RYTPX vs. BEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYTPX Rydex Inverse S&P 500 2x Strategy Fund	-15.51%	-27.24%	-29.24%	-31.96%	29.31%	-43.38%	-50.05%	-41.84%	4.42%	-32.54%
BEARX Federated Hermes Prudent Bear Fd	-7.92%	-12.42%	-20.34%	-18.67%	17.78%	-23.78%	-22.95%	-19.95%	-5.96%	-15.76%

Correlation

The correlation between RYTPX and BEARX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.85

Over the past year, the correlation between RYTPX and BEARX has dropped to 0.41 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

RYTPX vs. BEARX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RYTPX

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

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: 0
BEARX Martin Ratio Rank: 0

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.

RYTPX vs. BEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) 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.

	RYTPX	BEARX	Difference
Sharpe ratio: Return per unit of total volatility	-1.34	-1.45	+0.11
Sortino ratio: Return per unit of downside risk	-2.07	-2.11	+0.04
Omega ratio: Gain probability vs. loss probability	0.78	0.75	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.91	-0.03
Martin ratio: Return relative to average drawdown	-1.56	-1.62	+0.06

RYTPX vs. BEARX - Sharpe Ratio Comparison

The current RYTPX Sharpe Ratio is -1.34, which is comparable to the BEARX Sharpe Ratio of -1.45. The chart below compares the historical Sharpe Ratios of RYTPX 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

RYTPX vs. BEARX - Drawdown Comparison

The maximum RYTPX drawdown since its inception was -99.92%, roughly equal to the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for RYTPX and BEARX.

Drawdown Indicators

	RYTPX	BEARX	Difference
Max Drawdown Largest peak-to-trough decline	-99.92%	-95.75%	-4.17%
Max Drawdown (1Y) Largest decline over 1 year	-34.13%	-18.63%	-15.50%
Max Drawdown (3Y) Largest decline over 3 years	-68.03%	-44.46%	-23.57%
Max Drawdown (5Y) Largest decline over 5 years	-75.66%	-52.48%	-23.18%
Max Drawdown (10Y) Largest decline over 10 years	-96.56%	-80.48%	-16.08%
Current Drawdown Current decline from peak	-99.92%	-95.67%	-4.25%
Average Drawdown Average peak-to-trough decline	-82.33%	-61.09%	-21.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.35%	10.97%	+10.38%

Volatility

RYTPX vs. BEARX - Volatility Comparison

Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) has a higher volatility of 9.38% compared to Federated Hermes Prudent Bear Fd (BEARX) at 5.34%. This indicates that RYTPX'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.

Volatility by Period

	RYTPX	BEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	5.34%	+4.04%
Volatility (6M) Calculated over the trailing 6-month period	19.81%	9.96%	+9.85%
Volatility (1Y) Calculated over the trailing 1-year period	24.91%	12.32%	+12.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.94%	17.10%	+16.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	289.93%	16.74%	+273.19%

RYTPX vs. BEARX - Expense Ratio Comparison

RYTPX has a 2.16% expense ratio, which is higher than BEARX's 1.78% expense ratio.

Dividends

RYTPX vs. BEARX - Dividend Comparison

RYTPX's dividend yield for the trailing twelve months is around 6.09%, less than BEARX's 7.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BEARX Federated Hermes Prudent Bear Fd	7.29%	6.71%	0.00%	13.32%	0.00%	0.00%	0.00%	0.62%
RYTPX Rydex Inverse S&P 500 2x Strategy Fund	6.09%	5.15%	6.90%	3.35%	0.00%	0.00%	0.00%	0.23%

Frequently Asked Questions

Can I hold both RYTPX and BEARX in my portfolio?

RYTPX and BEARX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYTPX or BEARX?

RYTPX has higher volatility (9.38%) compared to BEARX (5.34%). In terms of maximum drawdown, RYTPX dropped -99.92% vs BEARX's -95.75%.

Which has better risk-adjusted returns?

RYTPX currently has the higher Sharpe Ratio (-1.34 vs -1.45), 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.