HCPIX vs. RYRUX

Last updated Jul 17, 2026

HCPIX (ProFunds UltraSector Health Care Fund) and RYRUX (Rydex Russell 2000 2x Strategy Fund) are both Leveraged Equities funds. Over the past 10 years, HCPIX returned 8.99%/yr vs 10.97%/yr for RYRUX. A 0.66 correlation means they provide meaningful diversification when combined. HCPIX charges 1.61%/yr vs 1.86%/yr for RYRUX.

Performance

HCPIX vs. RYRUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSector Health Care Fund (HCPIX) and Rydex Russell 2000 2x Strategy Fund (RYRUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCPIX achieves a 2.18% return, which is significantly lower than RYRUX's 37.75% return. Over the past 10 years, HCPIX has underperformed RYRUX with an annualized return of 8.99%, while RYRUX has yielded a comparatively higher 10.97% annualized return.

HCPIX

• 1D: 0.09%
• 1M: 5.72%
• 6M: 0.22%
• YTD: 2.18%
• 1Y: 25.14%
• 3Y*: 6.78%
• 5Y*: 2.86%
• 10Y*: 8.99%

RYRUX

• 1D: 0.78%
• 1M: 2.02%
• 6M: 18.96%
• YTD: 37.75%
• 1Y: 65.04%
• 3Y*: 22.29%
• 5Y*: 4.23%
• 10Y*: 10.97%

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

HCPIX vs. RYRUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HCPIX ProFunds UltraSector Health Care Fund	2.18%	16.02%	-1.37%	-1.30%	-10.60%	33.92%	16.86%	28.41%	4.96%	19.48%
RYRUX Rydex Russell 2000 2x Strategy Fund	37.75%	12.62%	10.94%	22.65%	-43.88%	20.72%	16.41%	47.20%	-26.63%	25.55%

Correlation

The correlation between HCPIX and RYRUX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.66

Over the past year, the correlation between HCPIX and RYRUX has dropped to 0.31 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

HCPIX vs. RYRUX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HCPIX

HCPIX Risk / Return Rank: 27
HCPIX Sharpe Ratio Rank: 26
HCPIX Sortino Ratio Rank: 31
HCPIX Omega Ratio Rank: 24
HCPIX Calmar Ratio Rank: 31
HCPIX Martin Ratio Rank: 20

RYRUX

RYRUX Risk / Return Rank: 60
RYRUX Sharpe Ratio Rank: 59
RYRUX Sortino Ratio Rank: 52
RYRUX Omega Ratio Rank: 43
RYRUX Calmar Ratio Rank: 80
RYRUX Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HCPIX vs. RYRUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSector Health Care Fund (HCPIX) and Rydex Russell 2000 2x Strategy Fund (RYRUX). 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.

	HCPIX	RYRUX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.77	-0.61
Sortino ratio: Return per unit of downside risk	1.87	2.39	-0.52
Omega ratio: Gain probability vs. loss probability	1.21	1.28	-0.08
Calmar ratio: Return relative to maximum drawdown	1.71	3.07	-1.36
Martin ratio: Return relative to average drawdown	3.95	10.39	-6.44

HCPIX vs. RYRUX - Sharpe Ratio Comparison

The current HCPIX Sharpe Ratio is 1.16, which is lower than the RYRUX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of HCPIX and RYRUX, 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

HCPIX vs. RYRUX - Drawdown Comparison

The maximum HCPIX drawdown since its inception was -64.90%, smaller than the maximum RYRUX drawdown of -88.49%. Use the drawdown chart below to compare losses from any high point for HCPIX and RYRUX.

Drawdown Indicators

	HCPIX	RYRUX	Difference
Max Drawdown Largest peak-to-trough decline	-64.90%	-88.49%	+23.59%
Max Drawdown (1Y) Largest decline over 1 year	-16.12%	-22.39%	+6.27%
Max Drawdown (3Y) Largest decline over 3 years	-27.68%	-49.91%	+22.23%
Max Drawdown (5Y) Largest decline over 5 years	-27.68%	-62.41%	+34.73%
Max Drawdown (10Y) Largest decline over 10 years	-40.66%	-71.68%	+31.02%
Current Drawdown Current decline from peak	-5.73%	-3.40%	-2.33%
Average Drawdown Average peak-to-trough decline	-20.94%	-31.13%	+10.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.96%	6.59%	+0.37%

Volatility

HCPIX vs. RYRUX - Volatility Comparison

ProFunds UltraSector Health Care Fund (HCPIX) has a higher volatility of 9.42% compared to Rydex Russell 2000 2x Strategy Fund (RYRUX) at 7.52%. This indicates that HCPIX's price experiences larger fluctuations and is considered to be riskier than RYRUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCPIX	RYRUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.42%	7.52%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	17.59%	28.35%	-10.76%
Volatility (1Y) Calculated over the trailing 1-year period	23.86%	38.95%	-15.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.68%	45.17%	-22.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.10%	46.79%	-21.69%

HCPIX vs. RYRUX - Expense Ratio Comparison

HCPIX has a 1.61% expense ratio, which is lower than RYRUX's 1.86% expense ratio.

Dividends

HCPIX vs. RYRUX - Dividend Comparison

HCPIX's dividend yield for the trailing twelve months is around 0.17%, less than RYRUX's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HCPIX ProFunds UltraSector Health Care Fund	0.17%	0.17%	0.82%	0.26%	0.00%	0.00%	0.00%	0.05%	0.03%	0.00%	0.00%	0.00%
RYRUX Rydex Russell 2000 2x Strategy Fund	2.67%	3.68%	2.93%	0.35%	0.00%	0.20%	0.00%	0.27%	0.00%	2.57%	0.00%	28.79%

Frequently Asked Questions

Can I hold both HCPIX and RYRUX in my portfolio?

HCPIX and RYRUX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCPIX or RYRUX?

HCPIX has higher volatility (9.42%) compared to RYRUX (7.52%). In terms of maximum drawdown, HCPIX dropped -64.90% vs RYRUX's -88.49%.

Which has better risk-adjusted returns?

RYRUX currently has the higher Sharpe Ratio (1.77 vs 1.16), 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.