GRZZX vs. RYCLX
GRZZX (Grizzly Short Fund) and RYCLX (Rydex Inverse Mid-Cap Strategy Fund) are both Inverse Equities funds. Over the past 10 years, GRZZX returned -0.91%/yr vs -10.85%/yr for RYCLX. Their correlation of 0.91 suggests significant overlap in exposure. GRZZX charges 1.61%/yr vs 2.39%/yr for RYCLX.
Performance
GRZZX vs. RYCLX - Performance Comparison
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Returns By Period
In the year-to-date period, GRZZX achieves a -7.85% return, which is significantly higher than RYCLX's -11.36% return. Over the past 10 years, GRZZX has outperformed RYCLX with an annualized return of -0.91%, while RYCLX has yielded a comparatively lower -10.85% annualized return.
GRZZX
- 1D
- 0.33%
- 1M
- -2.45%
- 6M
- -4.23%
- YTD
- -7.85%
- 1Y
- -6.30%
- 3Y*
- -6.07%
- 5Y*
- -3.78%
- 10Y*
- -0.91%
RYCLX
- 1D
- 0.60%
- 1M
- 1.88%
- 6M
- -6.71%
- YTD
- -11.36%
- 1Y
- -11.32%
- 3Y*
- -6.52%
- 5Y*
- -5.73%
- 10Y*
- -10.85%
GRZZX vs. RYCLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | -7.85% | -2.98% | -6.74% | -18.72% | 22.43% | -15.87% | -41.33% | -29.43% | 301.98% | -19.84% |
RYCLX Rydex Inverse Mid-Cap Strategy Fund | -11.36% | -1.04% | -5.59% | -8.75% | 8.93% | -24.21% | -25.53% | -21.03% | 11.39% | -14.94% |
Correlation
The correlation between GRZZX and RYCLX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2005 | 0.91 |
The correlation between GRZZX and RYCLX has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
GRZZX vs. RYCLX — Risk / Return Rank
GRZZX
RYCLX
GRZZX vs. RYCLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grizzly Short Fund (GRZZX) and Rydex Inverse Mid-Cap Strategy Fund (RYCLX). 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.
| GRZZX | RYCLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.89 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -0.63 | +0.23 |
| Martin ratioReturn relative to average drawdown | -0.92 | -1.20 | +0.29 |
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Drawdowns
GRZZX vs. RYCLX - Drawdown Comparison
The maximum GRZZX drawdown since its inception was -91.80%, roughly equal to the maximum RYCLX drawdown of -95.66%. Use the drawdown chart below to compare losses from any high point for GRZZX and RYCLX.
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Drawdown Indicators
| GRZZX | RYCLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.80% | -95.66% | +3.86% |
Max Drawdown (1Y)Largest decline over 1 year | -15.84% | -18.50% | +2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -31.08% | -32.43% | +1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -39.06% | -34.96% | -4.10% |
Max Drawdown (10Y)Largest decline over 10 years | -73.07% | -71.12% | -1.95% |
Current DrawdownCurrent decline from peak | -89.73% | -95.52% | +5.79% |
Average DrawdownAverage peak-to-trough decline | -69.43% | -70.30% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.90% | 9.65% | -2.75% |
Volatility
GRZZX vs. RYCLX - Volatility Comparison
The current volatility for Grizzly Short Fund (GRZZX) is 4.01%, while Rydex Inverse Mid-Cap Strategy Fund (RYCLX) has a volatility of 4.59%. This indicates that GRZZX experiences smaller price fluctuations and is considered to be less risky than RYCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRZZX | RYCLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 4.59% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 10.54% | 11.77% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.91% | 15.89% | -1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 20.55% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.65% | 21.42% | +75.23% |
GRZZX vs. RYCLX - Expense Ratio Comparison
GRZZX has a 1.61% expense ratio, which is lower than RYCLX's 2.39% expense ratio.
Dividends
GRZZX vs. RYCLX - Dividend Comparison
GRZZX's dividend yield for the trailing twelve months is around 4.96%, less than RYCLX's 37.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | 4.96% | 6.00% | 10.30% | 6.61% | 0.00% | 0.00% | 0.00% | 1.14% |
RYCLX Rydex Inverse Mid-Cap Strategy Fund | 37.24% | 33.01% | 25.75% | 9.12% | 0.00% | 0.00% | 0.76% | 0.89% |
Frequently Asked Questions
GRZZX and RYCLX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYCLX has higher volatility (4.59%) compared to GRZZX (4.01%). In terms of maximum drawdown, GRZZX dropped -91.80% vs RYCLX's -95.66%.
GRZZX currently has the higher Sharpe Ratio (-0.46 vs -0.73), 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.
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