XPTFX vs. BEARX

Last updated Jun 4, 2026

XPTFX (Federated Hermes Project and Trade Finance Tender Fund) and BEARX (Federated Hermes Prudent Bear Fd) are both mutual funds - XPTFX is a Bank Loan fund managed by Federated, while BEARX is a Inverse Equities fund managed by Federated. Over the past 5 years, XPTFX returned 6.40%/yr vs -12.48%/yr for BEARX. At a correlation of -0.04, they often move in opposite directions. XPTFX charges 0.41%/yr vs 1.78%/yr for BEARX.

Performance

XPTFX vs. BEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Project and Trade Finance Tender Fund (XPTFX) 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, XPTFX achieves a 2.83% return, which is significantly higher than BEARX's -9.50% return.

XPTFX

• 1D: 0.00%
• 1M: 0.49%
• YTD: 2.83%
• 6M: 3.46%
• 1Y: 7.55%
• 3Y*: 8.05%
• 5Y*: 6.40%
• 10Y*: —

BEARX

• 1D: -0.29%
• 1M: -5.77%
• YTD: -9.50%
• 6M: -9.81%
• 1Y: -19.70%
• 3Y*: -16.79%
• 5Y*: -12.48%
• 10Y*: -14.66%

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

XPTFX vs. BEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XPTFX Federated Hermes Project and Trade Finance Tender Fund	2.83%	7.47%	8.62%	8.55%	3.74%	1.91%	2.18%	4.70%	4.47%	-0.10%
BEARX Federated Hermes Prudent Bear Fd	-9.50%	-12.42%	-20.34%	-18.67%	17.78%	-23.78%	-22.95%	-19.95%	-5.96%	-14.56%

Correlation

The correlation between XPTFX and BEARX is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (5Y) Calculated over the trailing 5-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	-0.04

Return for Risk

XPTFX vs. BEARX — Risk / Return Rank

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

XPTFX

XPTFX Risk / Return Rank: 80
XPTFX Sharpe Ratio Rank: 79
XPTFX Sortino Ratio Rank: 78
XPTFX Omega Ratio Rank: 99
XPTFX Calmar Ratio Rank: 83
XPTFX Martin Ratio Rank: 61

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.

XPTFX vs. BEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Project and Trade Finance Tender Fund (XPTFX) 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.

	XPTFX	BEARX	Difference
Sharpe ratio: Return per unit of total volatility	2.58	-1.75	+4.33
Sortino ratio: Return per unit of downside risk	3.73	-2.48	+6.22
Omega ratio: Gain probability vs. loss probability	4.27	0.70	+3.57
Calmar ratio: Return relative to maximum drawdown	3.87	-1.00	+4.87
Martin ratio: Return relative to average drawdown	12.16	-1.89	+14.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XPTFX vs. BEARX - Sharpe Ratio Comparison

The current XPTFX Sharpe Ratio is 2.58, which is higher than the BEARX Sharpe Ratio of -1.75. The chart below compares the historical Sharpe Ratios of XPTFX 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.

Sharpe Ratios by Period

	XPTFX	BEARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	-1.75	+4.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.55	-0.74	+3.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.36	-0.02	+2.37

Drawdowns

XPTFX vs. BEARX - Drawdown Comparison

The maximum XPTFX drawdown since its inception was -2.95%, smaller than the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for XPTFX and BEARX.

Drawdown Indicators

	XPTFX	BEARX	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-95.75%	+92.80%
Max Drawdown (1Y) Largest decline over 1 year	-1.96%	-19.52%	+17.56%
Max Drawdown (3Y) Largest decline over 3 years	-2.95%	-44.46%	+41.51%
Max Drawdown (5Y) Largest decline over 5 years	-2.95%	-52.48%	+49.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-80.48%	—
Current Drawdown Current decline from peak	0.00%	-95.75%	+95.75%
Average Drawdown Average peak-to-trough decline	-0.26%	-61.04%	+60.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	10.45%	-9.83%

Volatility

XPTFX vs. BEARX - Volatility Comparison

The current volatility for Federated Hermes Project and Trade Finance Tender Fund (XPTFX) is 0.21%, while Federated Hermes Prudent Bear Fd (BEARX) has a volatility of 2.86%. This indicates that XPTFX 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

	XPTFX	BEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.21%	2.86%	-2.65%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	8.76%	-5.87%
Volatility (1Y) Calculated over the trailing 1-year period	2.94%	11.32%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.52%	16.97%	-14.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.02%	16.67%	-14.65%

XPTFX vs. BEARX - Expense Ratio Comparison

XPTFX has a 0.41% expense ratio, which is lower than BEARX's 1.78% expense ratio.

Dividends

XPTFX vs. BEARX - Dividend Comparison

XPTFX's dividend yield for the trailing twelve months is around 6.04%, less than BEARX's 7.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BEARX Federated Hermes Prudent Bear Fd	7.42%	6.71%	0.00%	13.32%	0.00%	0.00%	0.00%	0.62%	0.00%
XPTFX Federated Hermes Project and Trade Finance Tender Fund	6.04%	7.24%	6.78%	6.66%	5.70%	2.21%	2.74%	4.62%	4.60%

Frequently Asked Questions

Can I hold both XPTFX and BEARX in my portfolio?

XPTFX and BEARX have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XPTFX or BEARX?

BEARX has higher volatility (2.86%) compared to XPTFX (0.21%). In terms of maximum drawdown, XPTFX dropped -2.95% vs BEARX's -95.75%.

Which has better risk-adjusted returns?

XPTFX currently has the higher Sharpe Ratio (2.58 vs -1.75), 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.