NCTWX vs. SECUX

Last updated Aug 1, 2026

NCTWX (Nicholas II Fund) and SECUX (Guggenheim StylePlus - Mid Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, NCTWX returned 9.76%/yr vs 10.32%/yr for SECUX. Their correlation of 0.86 means they have usually moved in the same direction. NCTWX charges 0.59%/yr vs 1.42%/yr for SECUX.

Performance

NCTWX vs. SECUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas II Fund (NCTWX) and Guggenheim StylePlus - Mid Growth Fund (SECUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCTWX achieves a 5.91% return, which is significantly lower than SECUX's 10.67% return. Over the past 10 years, NCTWX has underperformed SECUX with an annualized return of 9.76%, while SECUX has yielded a comparatively higher 10.32% annualized return.

NCTWX

• 1D: -0.42%
• 1M: 2.38%
• 6M: 4.02%
• YTD: 5.91%
• 1Y: 3.38%
• 3Y*: 5.49%
• 5Y*: 2.70%
• 10Y*: 9.76%
• ALL TIME*: 9.92%

SECUX

• 1D: 2.27%
• 1M: -3.48%
• 6M: 6.53%
• YTD: 10.67%
• 1Y: 10.35%
• 3Y*: 10.72%
• 5Y*: 3.41%
• 10Y*: 10.32%
• ALL TIME*: 5.70%

*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)
NCTWX Nicholas II Fund	$0.00	$0.00	$0.00
SECUX Guggenheim StylePlus - Mid Growth Fund	$0.00	$0.00	$0.00

NCTWX vs. SECUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCTWX Nicholas II Fund	5.91%	-1.27%	6.74%	19.89%	-18.03%	21.58%	15.73%	34.90%	-4.20%	25.65%
SECUX Guggenheim StylePlus - Mid Growth Fund	10.67%	1.86%	14.29%	26.43%	-28.33%	13.39%	31.95%	32.44%	-7.76%	24.15%

Correlation

The correlation between NCTWX and SECUX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990	0.86

The correlation between NCTWX and SECUX shifts across timeframes, from 0.67 (1 year) to 0.91 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

NCTWX vs. SECUX — Risk / Return Rank

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

NCTWX

NCTWX Risk / Return Rank: 5
NCTWX Sharpe Ratio Rank: 5
NCTWX Sortino Ratio Rank: 5
NCTWX Omega Ratio Rank: 5
NCTWX Calmar Ratio Rank: 5
NCTWX Martin Ratio Rank: 5

SECUX

SECUX Risk / Return Rank: 15
SECUX Sharpe Ratio Rank: 12
SECUX Sortino Ratio Rank: 13
SECUX Omega Ratio Rank: 12
SECUX Calmar Ratio Rank: 18
SECUX Martin Ratio Rank: 19

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.

NCTWX vs. SECUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas II Fund (NCTWX) and Guggenheim StylePlus - Mid Growth Fund (SECUX). 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.

	NCTWX	SECUX	Difference
Sharpe ratio: Return per unit of total volatility	0.05	0.47	-0.42
Sortino ratio: Return per unit of downside risk	0.18	0.79	-0.61
Omega ratio: Gain probability vs. loss probability	1.02	1.09	-0.07
Calmar ratio: Return relative to maximum drawdown	0.05	0.88	-0.83
Martin ratio: Return relative to average drawdown	0.13	2.73	-2.60

NCTWX vs. SECUX - Sharpe Ratio Comparison

The current NCTWX Sharpe Ratio is 0.05, which is lower than the SECUX Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of NCTWX and SECUX, 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

NCTWX vs. SECUX - Drawdown Comparison

The maximum NCTWX drawdown since its inception was -46.46%, smaller than the maximum SECUX drawdown of -71.68%. Use the drawdown chart below to compare losses from any high point for NCTWX and SECUX.

Drawdown Indicators

	NCTWX	SECUX	Difference
Max Drawdown Largest peak-to-trough decline	-46.46%	-71.68%	+25.22%
Max Drawdown (1Y) Largest decline over 1 year	-14.83%	-9.17%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	-20.63%	-25.43%	+4.80%
Max Drawdown (5Y) Largest decline over 5 years	-25.89%	-37.80%	+11.91%
Max Drawdown (10Y) Largest decline over 10 years	-36.61%	-38.56%	+1.95%
Current Drawdown Current decline from peak	-2.83%	-5.74%	+2.91%
Average Drawdown Average peak-to-trough decline	-6.89%	-18.34%	+11.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.07%	2.97%	+3.10%

Volatility

NCTWX vs. SECUX - Volatility Comparison

The current volatility for Nicholas II Fund (NCTWX) is 3.85%, while Guggenheim StylePlus - Mid Growth Fund (SECUX) has a volatility of 5.76%. This indicates that NCTWX experiences smaller price fluctuations and is considered to be less risky than SECUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCTWX	SECUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	5.76%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	11.90%	14.17%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	17.24%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.18%	21.63%	-3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	21.23%	-2.98%

NCTWX vs. SECUX - Expense Ratio Comparison

NCTWX has a 0.59% expense ratio, which is lower than SECUX's 1.42% expense ratio.

Dividends

NCTWX vs. SECUX - Dividend Comparison

NCTWX's dividend yield for the trailing twelve months is around 11.74%, while SECUX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NCTWX Nicholas II Fund	11.74%	12.43%	5.21%	0.72%	3.92%	9.86%	3.79%	11.36%	12.57%	11.02%	5.11%	6.40%
SECUX Guggenheim StylePlus - Mid Growth Fund	0.00%	0.00%	0.00%	2.31%	41.48%	6.54%	14.34%	2.18%	27.68%	12.89%	0.59%	14.34%

Frequently Asked Questions

Can I hold both NCTWX and SECUX in my portfolio?

NCTWX and SECUX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NCTWX or SECUX?

SECUX has higher volatility (5.76%) compared to NCTWX (3.85%). In terms of maximum drawdown, NCTWX dropped -46.46% vs SECUX's -71.68%.

Which has better risk-adjusted returns?

SECUX currently has the higher Sharpe Ratio (0.47 vs 0.05), 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.