THPBX vs. BRUFX

Last updated Jul 11, 2026

THPBX (BNY Mellon Balanced Opportunity Fund) and BRUFX (Bruce Fund) are both Diversified Portfolio funds. Over the past 10 years, THPBX returned 8.25%/yr vs 7.50%/yr for BRUFX. A 0.50 correlation means they provide meaningful diversification when combined. THPBX charges 0.90%/yr vs 0.68%/yr for BRUFX.

Performance

THPBX vs. BRUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Balanced Opportunity Fund (THPBX) and Bruce Fund (BRUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THPBX achieves a 5.52% return, which is significantly lower than BRUFX's 15.04% return. Over the past 10 years, THPBX has outperformed BRUFX with an annualized return of 8.25%, while BRUFX has yielded a comparatively lower 7.50% annualized return.

THPBX

• 1D: 0.66%
• 1M: 0.90%
• 6M: 3.90%
• YTD: 5.52%
• 1Y: 12.95%
• 3Y*: 12.05%
• 5Y*: 5.95%
• 10Y*: 8.25%

BRUFX

• 1D: 0.12%
• 1M: 3.18%
• 6M: 12.05%
• YTD: 15.04%
• 1Y: 26.15%
• 3Y*: 12.59%
• 5Y*: 5.79%
• 10Y*: 7.50%

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

THPBX vs. BRUFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THPBX BNY Mellon Balanced Opportunity Fund	5.52%	12.98%	11.38%	16.62%	-15.68%	12.68%	9.62%	20.34%	-3.90%	11.78%
BRUFX Bruce Fund	15.04%	14.89%	4.45%	-0.74%	-8.80%	17.35%	12.06%	22.42%	-3.99%	12.48%

Correlation

The correlation between THPBX and BRUFX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990	0.50

The correlation between THPBX and BRUFX shifts across timeframes, from 0.50 (all time) to 0.64 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

THPBX vs. BRUFX — Risk / Return Rank

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

THPBX

THPBX Risk / Return Rank: 40
THPBX Sharpe Ratio Rank: 39
THPBX Sortino Ratio Rank: 37
THPBX Omega Ratio Rank: 41
THPBX Calmar Ratio Rank: 33
THPBX Martin Ratio Rank: 49

BRUFX

BRUFX Risk / Return Rank: 88
BRUFX Sharpe Ratio Rank: 90
BRUFX Sortino Ratio Rank: 87
BRUFX Omega Ratio Rank: 83
BRUFX Calmar Ratio Rank: 88
BRUFX Martin Ratio Rank: 93

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.

THPBX vs. BRUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Balanced Opportunity Fund (THPBX) and Bruce Fund (BRUFX). 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.

	THPBX	BRUFX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.45	-1.05
Sortino ratio: Return per unit of downside risk	1.96	3.49	-1.53
Omega ratio: Gain probability vs. loss probability	1.26	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	1.69	3.44	-1.75
Martin ratio: Return relative to average drawdown	7.99	15.21	-7.22

THPBX vs. BRUFX - Sharpe Ratio Comparison

The current THPBX Sharpe Ratio is 1.40, which is lower than the BRUFX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of THPBX and BRUFX, 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

THPBX vs. BRUFX - Drawdown Comparison

The maximum THPBX drawdown since its inception was -42.24%, smaller than the maximum BRUFX drawdown of -44.50%. Use the drawdown chart below to compare losses from any high point for THPBX and BRUFX.

Drawdown Indicators

	THPBX	BRUFX	Difference
Max Drawdown Largest peak-to-trough decline	-42.24%	-44.50%	+2.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.50%	-7.67%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.69%	-9.66%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-23.61%	-17.91%	-5.70%
Max Drawdown (10Y) Largest decline over 10 years	-26.45%	-25.44%	-1.01%
Current Drawdown Current decline from peak	-0.19%	-1.10%	+0.91%
Average Drawdown Average peak-to-trough decline	-5.16%	-9.05%	+3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.73%	-0.14%

Volatility

THPBX vs. BRUFX - Volatility Comparison

The current volatility for BNY Mellon Balanced Opportunity Fund (THPBX) is 3.04%, while Bruce Fund (BRUFX) has a volatility of 3.21%. This indicates that THPBX experiences smaller price fluctuations and is considered to be less risky than BRUFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THPBX	BRUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	3.21%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	8.43%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	9.09%	10.79%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.85%	10.57%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.27%	11.64%	+0.63%

THPBX vs. BRUFX - Expense Ratio Comparison

THPBX has a 0.90% expense ratio, which is higher than BRUFX's 0.68% expense ratio.

Dividends

THPBX vs. BRUFX - Dividend Comparison

THPBX's dividend yield for the trailing twelve months is around 7.86%, more than BRUFX's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRUFX Bruce Fund	5.52%	6.35%	5.01%	6.46%	13.31%	9.25%	5.83%	2.03%	2.49%	4.11%	6.26%	4.63%
THPBX BNY Mellon Balanced Opportunity Fund	7.86%	8.30%	5.42%	4.78%	6.32%	10.48%	3.26%	3.57%	9.72%	5.19%	1.32%	6.17%

Frequently Asked Questions

Can I hold both THPBX and BRUFX in my portfolio?

THPBX and BRUFX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THPBX or BRUFX?

BRUFX has higher volatility (3.21%) compared to THPBX (3.04%). In terms of maximum drawdown, THPBX dropped -42.24% vs BRUFX's -44.50%.

Which has better risk-adjusted returns?

BRUFX currently has the higher Sharpe Ratio (2.45 vs 1.40), 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.