MIEYX vs. RYSOX

Last updated Jul 14, 2026

MIEYX (MM S&P 500 Index Fund) and RYSOX (Rydex S&P 500 Fund) are both S&P 500 funds tracking the S&P 500 Index, from MassMutual and Rydex Funds respectively. Both are passively managed. Over the past 10 years, MIEYX returned 14.27%/yr vs 13.36%/yr for RYSOX. With a 0.99 correlation, they move nearly in lockstep. MIEYX charges 0.46%/yr vs 1.56%/yr for RYSOX.

Performance

MIEYX vs. RYSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MM S&P 500 Index Fund (MIEYX) and Rydex S&P 500 Fund (RYSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIEYX achieves a 11.10% return, which is significantly higher than RYSOX's 10.39% return. Over the past 10 years, MIEYX has outperformed RYSOX with an annualized return of 14.27%, while RYSOX has yielded a comparatively lower 13.36% annualized return.

MIEYX

• 1D: 0.45%
• 1M: 2.04%
• 6M: 8.99%
• YTD: 11.10%
• 1Y: 21.93%
• 3Y*: 20.55%
• 5Y*: 12.65%
• 10Y*: 14.27%

RYSOX

• 1D: 0.42%
• 1M: 1.90%
• 6M: 8.31%
• YTD: 10.39%
• 1Y: 20.48%
• 3Y*: 19.12%
• 5Y*: 11.39%
• 10Y*: 13.36%

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

MIEYX vs. RYSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIEYX MM S&P 500 Index Fund	11.10%	17.27%	24.36%	25.76%	-18.63%	28.02%	17.87%	30.98%	-5.26%	18.90%
RYSOX Rydex S&P 500 Fund	10.39%	15.93%	22.98%	24.15%	-19.47%	26.68%	16.25%	29.15%	-6.01%	19.53%

Correlation

The correlation between MIEYX and RYSOX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.99

The correlation between MIEYX and RYSOX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

MIEYX vs. RYSOX — Risk / Return Rank

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

MIEYX

MIEYX Risk / Return Rank: 62
MIEYX Sharpe Ratio Rank: 60
MIEYX Sortino Ratio Rank: 56
MIEYX Omega Ratio Rank: 58
MIEYX Calmar Ratio Rank: 63
MIEYX Martin Ratio Rank: 73

RYSOX

RYSOX Risk / Return Rank: 53
RYSOX Sharpe Ratio Rank: 52
RYSOX Sortino Ratio Rank: 49
RYSOX Omega Ratio Rank: 51
RYSOX Calmar Ratio Rank: 52
RYSOX Martin Ratio Rank: 63

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.

MIEYX vs. RYSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MM S&P 500 Index Fund (MIEYX) and Rydex S&P 500 Fund (RYSOX). 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.

	MIEYX	RYSOX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.61	+0.11
Sortino ratio: Return per unit of downside risk	2.37	2.23	+0.14
Omega ratio: Gain probability vs. loss probability	1.31	1.29	+0.02
Calmar ratio: Return relative to maximum drawdown	2.42	2.22	+0.20
Martin ratio: Return relative to average drawdown	10.60	9.57	+1.03

MIEYX vs. RYSOX - Sharpe Ratio Comparison

The current MIEYX Sharpe Ratio is 1.72, which is comparable to the RYSOX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of MIEYX and RYSOX, 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

MIEYX vs. RYSOX - Drawdown Comparison

The maximum MIEYX drawdown since its inception was -55.63%, roughly equal to the maximum RYSOX drawdown of -55.24%. Use the drawdown chart below to compare losses from any high point for MIEYX and RYSOX.

Drawdown Indicators

	MIEYX	RYSOX	Difference
Max Drawdown Largest peak-to-trough decline	-55.63%	-55.24%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-9.06%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-36.63%	-18.94%	-17.69%
Max Drawdown (5Y) Largest decline over 5 years	-36.63%	-25.45%	-11.18%
Max Drawdown (10Y) Largest decline over 10 years	-36.63%	-34.05%	-2.58%
Current Drawdown Current decline from peak	-2.74%	-0.49%	-2.25%
Average Drawdown Average peak-to-trough decline	-12.54%	-8.23%	-4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.10%	-0.06%

Volatility

MIEYX vs. RYSOX - Volatility Comparison

MM S&P 500 Index Fund (MIEYX) and Rydex S&P 500 Fund (RYSOX) have volatilities of 4.27% and 4.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIEYX	RYSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	4.27%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	9.94%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	12.51%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.57%	17.00%	+8.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.55%	18.07%	+4.48%

MIEYX vs. RYSOX - Expense Ratio Comparison

MIEYX has a 0.46% expense ratio, which is lower than RYSOX's 1.56% expense ratio.

Dividends

MIEYX vs. RYSOX - Dividend Comparison

MIEYX's dividend yield for the trailing twelve months is around 15.87%, more than RYSOX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIEYX MM S&P 500 Index Fund	15.87%	17.63%	32.89%	7.13%	33.24%	13.29%	16.29%	6.38%	19.14%	21.81%	4.19%	2.29%
RYSOX Rydex S&P 500 Fund	2.40%	2.65%	1.08%	0.60%	1.17%	1.25%	13.42%	0.93%	1.69%	4.56%	0.84%	4.01%

Frequently Asked Questions

Can I hold both MIEYX and RYSOX in my portfolio?

With a correlation of 1.00, MIEYX and RYSOX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MIEYX or RYSOX?

RYSOX has higher volatility (4.27%) compared to MIEYX (4.27%). In terms of maximum drawdown, MIEYX dropped -55.63% vs RYSOX's -55.24%.

Which has better risk-adjusted returns?

MIEYX currently has the higher Sharpe Ratio (1.72 vs 1.61), 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.