- ISIN
- US78355E6196
- Issuer
- Rydex Funds
- Inception Date
- Feb 19, 2004
- Category
- Inverse Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
RYCLX Performance Chart
Rydex Inverse Mid-Cap Strategy Fund (RYCLX) is down 12.9% since the beginning of the year. RYCLX is currently trading at $21 per share. Investors who bought $1,000 worth of RYCLX shares 5 years ago would now be looking at an investment worth $717.
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Returns By Period
Rydex Inverse Mid-Cap Strategy Fund (RYCLX) has returned -12.87% so far this year and -16.51% over the past 12 months. Over the last ten years, RYCLX has returned -11.35% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Rydex Inverse Mid-Cap Strategy Fund
- 1D
- -1.11%
- 1M
- -3.05%
- YTD
- -12.87%
- 6M
- -11.02%
- 1Y
- -16.51%
- 3Y*
- -8.00%
- 5Y*
- -6.44%
- 10Y*
- -11.35%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
RYCLX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2005, RYCLX's average daily return is -0.04%, while the average monthly return is -0.94%.
Historically, 36% of months were positive and 64% were negative. The best month was Oct 2008 with a return of +20.8%, while the worst month was Apr 2020 at -14.5%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 10 months.
On a daily basis, RYCLX closed higher 46% of trading days. The best single day was Mar 16, 2020 with a return of +13.8%, while the worst single day was Oct 13, 2008 at -10.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.13% | -3.62% | 5.66% | -7.28% | -2.08% | -1.71% | -12.87% | ||||||
| 2025 | -3.15% | 4.91% | 7.13% | 0.28% | -4.83% | -2.92% | -0.66% | -3.00% | 0.62% | 0.84% | -0.86% | 1.23% | -1.04% |
| 2024 | 2.63% | -4.99% | -4.54% | 7.09% | -3.47% | 2.38% | -4.83% | 0.41% | -0.72% | 1.20% | -7.86% | 8.33% | -5.59% |
| 2023 | -7.99% | 2.36% | 3.32% | 1.12% | 3.77% | -7.87% | -3.31% | 3.79% | 6.35% | 5.97% | -7.53% | -7.26% | -8.75% |
| 2022 | 7.23% | -1.80% | -2.36% | 6.91% | -1.49% | 9.48% | -10.05% | 3.29% | 9.75% | -9.97% | -5.83% | 6.29% | 8.93% |
| 2021 | -2.05% | -6.77% | -5.13% | -4.60% | -0.57% | 0.68% | -0.83% | -2.24% | 3.78% | -5.91% | 2.15% | -5.27% | -24.21% |
Benchmark Metrics
Rydex Inverse Mid-Cap Strategy Fund has an annualized alpha of 0.35%, beta of -1.06, and R2 of 0.85 versus S&P 500 Index. Calculated based on daily prices since January 03, 2005.
- This fund tended to rise when S&P 500 Index fell (downside capture of -141.06%), but participation in market rallies was also limited (-75.64%) - a profile typical of counter-cyclical assets.
- Beta of -1.06 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.35%
- Beta
- -1.06
- R²
- 0.85
- Upside Capture
- -75.64%
- Downside Capture
- -141.06%
Expense Ratio
RYCLX has a high expense ratio of 2.39%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
RYCLX ranks 0 for risk / return — in the bottom 0% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Rydex Inverse Mid-Cap Strategy Fund (RYCLX) and compare them to S&P 500 Index.
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.
| RYCLX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.07 | ||
| Sortino ratioReturn per unit of downside risk | -4.16 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.37 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 2.78 | -3.73 |
| Martin ratioReturn relative to average drawdown | -1.84 | 12.44 | -14.28 |
Dividends
Dividend History
Rydex Inverse Mid-Cap Strategy Fund provided a 37.88% dividend yield over the last twelve months, with an annual payout of $8.08 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $8.08 | $8.08 | $8.50 | $4.06 | $0.00 | $0.00 | $0.49 | $0.78 |
Dividend yield | 37.88% | 33.01% | 25.75% | 9.12% | 0.00% | 0.00% | 0.76% | 0.89% |
Monthly Dividends
The table displays the monthly dividend distributions for Rydex Inverse Mid-Cap Strategy Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $8.08 | $8.08 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $8.50 | $8.50 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.06 | $4.06 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Rydex Inverse Mid-Cap Strategy Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Rydex Inverse Mid-Cap Strategy Fund was 95.61%, occurring on Jun 15, 2026. The portfolio has not yet recovered.
The current Rydex Inverse Mid-Cap Strategy Fund drawdown is 95.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -95.61%Jun 2026 | 17y 7mo | — | 17y 7moNov 2008 - now |
2007 bear market2007 | -31.34%Jun 2007 | 2y 1mo | 1y 4mo | 3y 5moApr 2005 - Oct 2008 |
Financial crisis2007–2009 | -18.43%Nov 2008 | 7d | 15d | 22dOct 2008 - Nov 2008 |
Financial crisis2007–2009 | -10.91%Oct 2008 | 3d | 2d | 5dOct 2008 - Oct 2008 |
2005 pullback2005 | -7.82%Mar 2005 | 1mo 11d | 1mo 9d | 2mo 20dJan 2005 - Apr 2005 |
Drawdown Indicators
| RYCLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.61% | -56.78% | -38.83% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -9.10% | -8.47% |
Max Drawdown (3Y)Largest decline over 3 years | -31.65% | -18.90% | -12.75% |
Max Drawdown (5Y)Largest decline over 5 years | -34.22% | -25.43% | -8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -71.64% | -33.92% | -37.72% |
Current DrawdownCurrent decline from peak | -95.59% | -1.80% | -93.79% |
Average DrawdownAverage peak-to-trough decline | -70.23% | -10.71% | -59.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.97% | 2.03% | +6.94% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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