RMQAX vs. DXRLX

Last updated Jun 4, 2026

RMQAX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund) and DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, RMQAX returned 37.61%/yr vs 12.74%/yr for DXRLX. A 0.70 correlation means they provide meaningful diversification when combined. RMQAX charges 1.32%/yr vs 1.35%/yr for DXRLX.

Performance

RMQAX vs. DXRLX - 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 Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMQAX achieves a 40.14% return, which is significantly higher than DXRLX's 30.58% return. Over the past 10 years, RMQAX has outperformed DXRLX with an annualized return of 37.61%, while DXRLX has yielded a comparatively lower 12.74% annualized return.

RMQAX

• 1D: 0.94%
• 1M: 21.45%
• YTD: 40.14%
• 6M: 35.70%
• 1Y: 83.47%
• 3Y*: 51.18%
• 5Y*: 27.34%
• 10Y*: 37.61%

DXRLX

• 1D: 1.58%
• 1M: 8.33%
• YTD: 30.58%
• 6M: 27.67%
• 1Y: 70.57%
• 3Y*: 23.98%
• 5Y*: 2.80%
• 10Y*: 12.74%

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

RMQAX vs. DXRLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	40.14%	33.92%	44.76%	115.91%	-59.93%	56.36%	101.06%	80.80%	-7.28%	69.80%
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	30.58%	15.22%	10.66%	20.05%	-40.24%	26.84%	20.98%	46.08%	-27.45%	27.06%

Correlation

The correlation between RMQAX and DXRLX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.70

The correlation between RMQAX and DXRLX has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

Return for Risk

RMQAX vs. DXRLX — Risk / Return Rank

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

RMQAX

RMQAX Risk / Return Rank: 67
RMQAX Sharpe Ratio Rank: 84
RMQAX Sortino Ratio Rank: 56
RMQAX Omega Ratio Rank: 56
RMQAX Calmar Ratio Rank: 76
RMQAX Martin Ratio Rank: 64

DXRLX

DXRLX Risk / Return Rank: 60
DXRLX Sharpe Ratio Rank: 59
DXRLX Sortino Ratio Rank: 47
DXRLX Omega Ratio Rank: 41
DXRLX Calmar Ratio Rank: 84
DXRLX Martin Ratio Rank: 72

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. DXRLX - 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 Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). 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.

	RMQAX	DXRLX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.26	+0.44
Sortino ratio: Return per unit of downside risk	3.16	2.90	+0.25
Omega ratio: Gain probability vs. loss probability	1.41	1.35	+0.07
Calmar ratio: Return relative to maximum drawdown	3.48	3.91	-0.43
Martin ratio: Return relative to average drawdown	12.58	13.74	-1.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMQAX vs. DXRLX - Sharpe Ratio Comparison

The current RMQAX Sharpe Ratio is 2.70, which is comparable to the DXRLX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of RMQAX and DXRLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RMQAX	DXRLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.26	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.07	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.26	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.05	+0.70

Drawdowns

RMQAX vs. DXRLX - Drawdown Comparison

The maximum RMQAX drawdown since its inception was -63.18%, smaller than the maximum DXRLX drawdown of -94.32%. Use the drawdown chart below to compare losses from any high point for RMQAX and DXRLX.

Drawdown Indicators

	RMQAX	DXRLX	Difference
Max Drawdown Largest peak-to-trough decline	-63.18%	-94.32%	+31.14%
Max Drawdown (1Y) Largest decline over 1 year	-24.96%	-19.38%	-5.58%
Max Drawdown (3Y) Largest decline over 3 years	-42.45%	-45.58%	+3.13%
Max Drawdown (5Y) Largest decline over 5 years	-63.18%	-57.64%	-5.54%
Max Drawdown (10Y) Largest decline over 10 years	-63.18%	-77.63%	+14.45%
Current Drawdown Current decline from peak	0.00%	-0.26%	+0.26%
Average Drawdown Average peak-to-trough decline	-12.90%	-34.61%	+21.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.89%	5.50%	+1.39%

Volatility

RMQAX vs. DXRLX - Volatility Comparison

The current volatility for Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) is 8.58%, while Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) has a volatility of 9.70%. This indicates that RMQAX experiences smaller price fluctuations and is considered to be less risky than DXRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMQAX	DXRLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	9.70%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	24.32%	23.73%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	32.15%	33.42%	-1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.19%	41.63%	+4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.42%	49.20%	-2.78%

RMQAX vs. DXRLX - Expense Ratio Comparison

RMQAX has a 1.32% expense ratio, which is lower than DXRLX's 1.35% expense ratio.

Dividends

RMQAX vs. DXRLX - Dividend Comparison

RMQAX's dividend yield for the trailing twelve months is around 25.88%, more than DXRLX's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.59%	1.23%	0.66%	0.00%	2.27%	0.84%	0.71%	3.76%	7.60%
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	25.88%	36.27%	26.02%	3.76%	0.00%	2.18%	5.30%	0.10%	0.00%

Frequently Asked Questions

Can I hold both RMQAX and DXRLX in my portfolio?

RMQAX and DXRLX have a correlation of 0.69, 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 DXRLX?

DXRLX has higher volatility (9.70%) compared to RMQAX (8.58%). In terms of maximum drawdown, RMQAX dropped -63.18% vs DXRLX's -94.32%.

Which has better risk-adjusted returns?

RMQAX currently has the higher Sharpe Ratio (2.70 vs 2.26), 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.