RMQAX vs. BIPIX

Last updated Jun 25, 2026

RMQAX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund) and BIPIX (ProFunds Biotechnology UltraSector Fund) are both Leveraged Equities funds. Over the past 10 years, RMQAX returned 37.82%/yr vs 10.20%/yr for BIPIX. A 0.60 correlation means they provide meaningful diversification when combined. RMQAX charges 1.32%/yr vs 1.49%/yr for BIPIX.

Performance

RMQAX vs. BIPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) and ProFunds Biotechnology UltraSector Fund (BIPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with RMQAX having a 28.01% return and BIPIX slightly higher at 28.34%. Over the past 10 years, RMQAX has outperformed BIPIX with an annualized return of 37.82%, while BIPIX has yielded a comparatively lower 10.20% annualized return.

RMQAX

• 1D: -6.59%
• 1M: -1.75%
• YTD: 28.01%
• 6M: 23.91%
• 1Y: 60.28%
• 3Y*: 44.63%
• 5Y*: 22.16%
• 10Y*: 37.82%

BIPIX

• 1D: 1.11%
• 1M: 17.33%
• YTD: 28.34%
• 6M: 21.67%
• 1Y: 119.89%
• 3Y*: 13.25%
• 5Y*: 3.21%
• 10Y*: 10.20%

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

RMQAX vs. BIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	28.01%	33.92%	44.76%	115.91%	-59.93%	56.36%	101.06%	80.80%	-7.28%	69.80%
BIPIX ProFunds Biotechnology UltraSector Fund	28.34%	47.99%	-25.91%	9.55%	-13.43%	5.00%	19.94%	23.65%	-12.15%	34.71%

Correlation

The correlation between RMQAX and BIPIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.60

The correlation between RMQAX and BIPIX shifts across timeframes, from 0.41 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RMQAX vs. BIPIX — Risk / Return Rank

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

RMQAX

RMQAX Risk / Return Rank: 44
RMQAX Sharpe Ratio Rank: 45
RMQAX Sortino Ratio Rank: 36
RMQAX Omega Ratio Rank: 39
RMQAX Calmar Ratio Rank: 53
RMQAX Martin Ratio Rank: 47

BIPIX

BIPIX Risk / Return Rank: 91
BIPIX Sharpe Ratio Rank: 96
BIPIX Sortino Ratio Rank: 85
BIPIX Omega Ratio Rank: 76
BIPIX Calmar Ratio Rank: 98
BIPIX Martin Ratio Rank: 97

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.

RMQAX vs. BIPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) and ProFunds Biotechnology UltraSector Fund (BIPIX). 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.

	RMQAX	BIPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	3.20	-1.39
Sortino ratio: Return per unit of downside risk	2.28	3.72	-1.44
Omega ratio: Gain probability vs. loss probability	1.31	1.44	-0.14
Calmar ratio: Return relative to maximum drawdown	2.62	8.38	-5.76
Martin ratio: Return relative to average drawdown	9.20	24.49	-15.29

RMQAX vs. BIPIX - Sharpe Ratio Comparison

The current RMQAX Sharpe Ratio is 1.81, which is lower than the BIPIX Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of RMQAX and BIPIX, 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

RMQAX vs. BIPIX - Drawdown Comparison

The maximum RMQAX drawdown since its inception was -63.18%, smaller than the maximum BIPIX drawdown of -84.51%. Use the drawdown chart below to compare losses from any high point for RMQAX and BIPIX.

Drawdown Indicators

	RMQAX	BIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.18%	-84.51%	+21.33%
Max Drawdown (1Y) Largest decline over 1 year	-24.96%	-15.15%	-9.81%
Max Drawdown (3Y) Largest decline over 3 years	-42.45%	-59.50%	+17.05%
Max Drawdown (5Y) Largest decline over 5 years	-63.18%	-63.86%	+0.68%
Max Drawdown (10Y) Largest decline over 10 years	-63.18%	-63.86%	+0.68%
Current Drawdown Current decline from peak	-8.65%	0.00%	-8.65%
Average Drawdown Average peak-to-trough decline	-12.86%	-37.16%	+24.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.09%	5.18%	+1.91%

Volatility

RMQAX vs. BIPIX - Volatility Comparison

Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) has a higher volatility of 18.47% compared to ProFunds Biotechnology UltraSector Fund (BIPIX) at 14.94%. This indicates that RMQAX's price experiences larger fluctuations and is considered to be riskier than BIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMQAX	BIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.47%	14.94%	+3.53%
Volatility (6M) Calculated over the trailing 6-month period	29.30%	31.86%	-2.56%
Volatility (1Y) Calculated over the trailing 1-year period	36.20%	39.70%	-3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.78%	40.01%	+6.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.65%	36.47%	+10.18%

RMQAX vs. BIPIX - Expense Ratio Comparison

RMQAX has a 1.32% expense ratio, which is lower than BIPIX's 1.49% expense ratio.

Dividends

RMQAX vs. BIPIX - Dividend Comparison

RMQAX's dividend yield for the trailing twelve months is around 28.33%, more than BIPIX's 0.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIPIX ProFunds Biotechnology UltraSector Fund	0.29%	0.37%	0.23%	6.69%	0.00%	0.79%	12.09%	3.26%	5.52%	7.19%
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	28.33%	36.27%	26.02%	3.76%	0.00%	2.18%	5.30%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RMQAX and BIPIX in my portfolio?

RMQAX and BIPIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMQAX or BIPIX?

RMQAX has higher volatility (18.47%) compared to BIPIX (14.94%). In terms of maximum drawdown, RMQAX dropped -63.18% vs BIPIX's -84.51%.

Which has better risk-adjusted returns?

BIPIX currently has the higher Sharpe Ratio (3.20 vs 1.81), 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.