Fund Evaluator:
ProFunds Bear Inv (BRPIX)
Follow This Fund
Best Performing in Trading--Inverse Equity Over the Last Year
| 23.2% | ProFunds UltraShort China Inv (UHPIX) |
| -13.6% | Rydex Inverse S&P 500® Strategy Inv (RYURX) |
| -14.2% | ProFunds Bear Inv (BRPIX) |
| -23.2% | ProFunds Short NASDAQ-100 Inv (SOPIX) |
| -23.5% | Rydex Inverse NASDAQ-100® Strategy Inv (RYAIX) |
Fund Details
ProFunds Bear Inv Overview
ProFunds Bear Inv (BRPIX) is a passively managed Miscellaneous Trading--Inverse Equity fund. ProFunds launched the fund in 1997.
The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P 500® Index. The fund invests in financial instruments that the fund Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The index is designed to measure the performance of 500 of the largest companies listed and domiciled in the U.S. Under normal circumstances, the fund will obtain inverse exposure to at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.
About ProFunds Bear Inv (BRPIX)
There are 2 members of the management team with an average tenure of 10.46 years: Michael Neches (2013), Devin Sullivan (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of -100%. ProFunds Bear Inv has 14 securities in its portfolio. The top 10 holdings constitute 105.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
ProFunds Bear Inv is part of the Other global asset class and is within the Miscellaneous fund group. ProFunds Bear Inv has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -100.7%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProFunds Bear Inv has 199.9% of the portfolio in cash.
Assets Under Management
The fund has $5 million in total assets, which is above the $4 million average for the Trading--Inverse Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BRPIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProFunds Bear Inv expense ratio is high compared to funds in the Trading--Inverse Equity category. ProFunds Bear Inv has an expense ratio of 1.78%, which is 9% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProFunds Bear Inv has a portfolio turnover rate of 1297%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 436% for the Trading--Inverse Equity category.
Recently, in the month of June 2026, ProFunds Bear Inv returned 1.3%, which earned it a grade of B, as the Trading--Inverse Equity category had an average return of -0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
ProFunds Bear Inv has a trailing yield of 4.70%, which is below the 6.95% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProFunds Bear Inv Grades
Year to date, the fund has returned -7.5%, 7.6 percentage points better than the category, which translates into a grade of B. The fund has returned -14.2% over the past year (grade of B), -12.6% over the past three years (grade of B) and -9.4% per year over the past five years (grade of B) and -13.6% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about ProFunds Bear Inv, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
BRPIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BRPIX Return (NAV) | 1.3% | -12.3% | -14.2% | -12.6% | -9.4% | -13.6% |
| BRPIX Grade | B | B | B | B | B | B |
| +/- Category | 2.0% | 4.7% | 11.5% | 7.4% | 5.4% | 7.9% |
| Trading--Inverse Equity Avg | -0.6% | -17.0% | -25.7% | -20.0% | -14.8% | -21.5% |
| BRPIX Tax Cost Ratio | na | na | 1.7% | 2.3% | 1.4% | 0.7% |
BRPIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BRPIX Return (NAV) | -7.5% | -12.3% | -14.4% | -15.4% | 17.3% | -24.7% | -25.6% | -23.2% | 4.0% | -18.0% | -13.3% |
| BRPIX Grade | B | B | C | B | C | C | B | B | C | B | B |
| +/- Category | 7.6% | 9.2% | -0.5% | 8.3% | 0.9% | -3.6% | 15.3% | 8.7% | -3.3% | 10.8% | 8.9% |
| Trading--Inverse Equity Avg | -15.0% | -21.5% | -13.9% | -23.7% | 16.4% | -21.1% | -41.0% | -31.9% | 7.3% | -28.9% | -22.3% |
| Risk Measures | |
| Standard Deviation: | 12.5% |
| Total Risk Index: | 1.03 - Average |
| Category Risk Index: | 0.54 - Below Average |
| Category Risk Grade: | B (25% Rank) |
| Beta: | -0.95 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | Yes |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 1297% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.8 years | |||
| Average Tenure: 10.5 years | |||
| Managers (Year): Neches Michael (2013), Sullivan Devin (2018) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 14 |
| % in Top 10 Holdings: | 105.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | -100.7% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.9% |
| Cash: | 199.9% |
Purchase Information
| Fund Family: | ProFunds |
| Phone Number: | 888-776-3637 |
| Website: | www.profunds.com |
| Status: | Open |
| Inception Date: | December 30, 1997 |
| Min. Initial Purchase: | $15,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.78% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.96% |
| Share Class: | ProFunds Bear Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
