AHSAX vs. RYOIX

Last updated Aug 1, 2026

AHSAX (Alger Health Sciences Fund) and RYOIX (Rydex Biotechnology Fund) are both Health & Biotech Equities funds. Over the past 10 years, AHSAX returned 10.07%/yr vs 9.33%/yr for RYOIX. Their correlation of 0.87 means they have usually moved in the same direction. AHSAX charges 1.05%/yr vs 1.36%/yr for RYOIX.

Performance

AHSAX vs. RYOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Health Sciences Fund (AHSAX) and Rydex Biotechnology Fund (RYOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHSAX achieves a 23.38% return, which is significantly higher than RYOIX's 18.33% return. Over the past 10 years, AHSAX has outperformed RYOIX with an annualized return of 10.07%, while RYOIX has yielded a comparatively lower 9.33% annualized return.

AHSAX

• 1D: 0.64%
• 1M: 7.49%
• 6M: 23.38%
• YTD: 23.38%
• 1Y: 55.59%
• 3Y*: 10.53%
• 5Y*: 0.59%
• 10Y*: 10.07%
• ALL TIME*: 7.65%

RYOIX

• 1D: 0.50%
• 1M: -3.93%
• 6M: 15.89%
• YTD: 18.33%
• 1Y: 50.09%
• 3Y*: 18.00%
• 5Y*: 6.19%
• 10Y*: 9.33%
• ALL TIME*: 10.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AHSAX Alger Health Sciences Fund	$0.00	$0.00	$0.00
RYOIX Rydex Biotechnology Fund	$0.00	$0.00	$0.00

AHSAX vs. RYOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AHSAX Alger Health Sciences Fund	23.38%	10.14%	1.17%	-4.26%	-17.04%	3.26%	30.99%	22.02%	5.71%	33.06%
RYOIX Rydex Biotechnology Fund	18.33%	30.62%	-0.95%	6.06%	-13.04%	2.05%	21.94%	30.69%	-8.94%	29.68%

Correlation

The correlation between AHSAX and RYOIX is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003	0.87

The correlation between AHSAX and RYOIX shifts across timeframes, from 0.76 (3 years) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AHSAX vs. RYOIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AHSAX

AHSAX Risk / Return Rank: 96
AHSAX Sharpe Ratio Rank: 98
AHSAX Sortino Ratio Rank: 97
AHSAX Omega Ratio Rank: 93
AHSAX Calmar Ratio Rank: 97
AHSAX Martin Ratio Rank: 96

RYOIX

RYOIX Risk / Return Rank: 93
RYOIX Sharpe Ratio Rank: 94
RYOIX Sortino Ratio Rank: 92
RYOIX Omega Ratio Rank: 85
RYOIX Calmar Ratio Rank: 98
RYOIX Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AHSAX vs. RYOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Health Sciences Fund (AHSAX) and Rydex Biotechnology Fund (RYOIX). 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.

	AHSAX	RYOIX	Difference
Sharpe ratio: Return per unit of total volatility	3.18	2.52	+0.67
Sortino ratio: Return per unit of downside risk	4.38	3.54	+0.84
Omega ratio: Gain probability vs. loss probability	1.53	1.41	+0.12
Calmar ratio: Return relative to maximum drawdown	5.55	5.92	-0.37
Martin ratio: Return relative to average drawdown	17.97	19.14	-1.17

AHSAX vs. RYOIX - Sharpe Ratio Comparison

The current AHSAX Sharpe Ratio is 3.18, which is comparable to the RYOIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of AHSAX and RYOIX, 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

AHSAX vs. RYOIX - Drawdown Comparison

The maximum AHSAX drawdown since its inception was -46.23%, smaller than the maximum RYOIX drawdown of -74.43%. Use the drawdown chart below to compare losses from any high point for AHSAX and RYOIX.

Drawdown Indicators

	AHSAX	RYOIX	Difference
Max Drawdown Largest peak-to-trough decline	-46.23%	-74.43%	+28.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-8.43%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.11%	-23.47%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-45.04%	-33.66%	-11.38%
Max Drawdown (10Y) Largest decline over 10 years	-45.04%	-33.66%	-11.38%
Current Drawdown Current decline from peak	-10.27%	-4.80%	-5.47%
Average Drawdown Average peak-to-trough decline	-14.73%	-27.49%	+12.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.60%	+0.39%

Volatility

AHSAX vs. RYOIX - Volatility Comparison

Alger Health Sciences Fund (AHSAX) has a higher volatility of 6.39% compared to Rydex Biotechnology Fund (RYOIX) at 5.73%. This indicates that AHSAX's price experiences larger fluctuations and is considered to be riskier than RYOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHSAX	RYOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	5.73%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	15.28%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	16.89%	19.84%	-2.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.31%	21.32%	+2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.37%	23.13%	+0.24%

AHSAX vs. RYOIX - Expense Ratio Comparison

AHSAX has a 1.05% expense ratio, which is lower than RYOIX's 1.36% expense ratio.

Dividends

AHSAX vs. RYOIX - Dividend Comparison

AHSAX has not paid dividends to shareholders, while RYOIX's dividend yield for the trailing twelve months is around 10.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHSAX Alger Health Sciences Fund	0.00%	0.00%	0.00%	0.00%	0.00%	27.18%	11.68%	6.98%	7.82%	0.00%	0.00%	0.00%
RYOIX Rydex Biotechnology Fund	10.62%	12.57%	14.61%	0.00%	1.29%	19.39%	7.28%	8.58%	14.11%	5.38%	0.00%	1.45%

Frequently Asked Questions

Can I hold both AHSAX and RYOIX in my portfolio?

AHSAX and RYOIX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHSAX or RYOIX?

AHSAX has higher volatility (6.39%) compared to RYOIX (5.73%). In terms of maximum drawdown, AHSAX dropped -46.23% vs RYOIX's -74.43%.

Which has better risk-adjusted returns?

AHSAX currently has the higher Sharpe Ratio (3.18 vs 2.52), 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.