Bear market mutual funds managed by Rydex Investments and ProFunds are clawing their way into the ranks of top-performing mutual funds, reports.

During the past four weeks of blistering market volatility, the performance of ordinary mutual funds has slumped noticeably, but the average bear market fund has jumped 6.19% during this period. Utility funds, which are known as stable investments, only managed to post 0.73% as a category index during the same period, according to Morningstar.

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