RYAIX vs. UHPIX

Last updated Jun 3, 2026

RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) and UHPIX (ProFunds UltraShort China) are both Inverse Equities funds. Over the past 10 years, RYAIX returned -19.26%/yr vs -31.39%/yr for UHPIX. A 0.62 correlation means they provide meaningful diversification when combined. RYAIX charges 1.55%/yr vs 1.78%/yr for UHPIX.

Performance

RYAIX vs. UHPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) and ProFunds UltraShort China (UHPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYAIX achieves a -17.12% return, which is significantly lower than UHPIX's 23.70% return. Over the past 10 years, RYAIX has outperformed UHPIX with an annualized return of -19.26%, while UHPIX has yielded a comparatively lower -31.39% annualized return.

RYAIX

• 1D: -0.59%
• 1M: -9.08%
• YTD: -17.12%
• 6M: -15.81%
• 1Y: -27.47%
• 3Y*: -19.15%
• 5Y*: -14.82%
• 10Y*: -19.26%

UHPIX

• 1D: -2.61%
• 1M: 7.85%
• YTD: 23.70%
• 6M: 32.92%
• 1Y: -9.17%
• 3Y*: -30.66%
• 5Y*: -25.33%
• 10Y*: -31.39%

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

RYAIX vs. UHPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	-17.12%	-15.63%	-15.64%	-31.71%	35.92%	-24.88%	-40.98%	-27.65%	-2.63%	-24.47%
UHPIX ProFunds UltraShort China	23.70%	-49.82%	-29.87%	-26.13%	-63.62%	94.89%	-64.76%	-43.34%	39.47%	-57.67%

Correlation

The correlation between RYAIX and UHPIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Feb 5, 2008	0.62

The correlation between RYAIX and UHPIX shifts across timeframes, from 0.40 (3 years) to 0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RYAIX vs. UHPIX — Risk / Return Rank

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

RYAIX

RYAIX Risk / Return Rank: 0
RYAIX Sharpe Ratio Rank: 0
RYAIX Sortino Ratio Rank: 0
RYAIX Omega Ratio Rank: 0
RYAIX Calmar Ratio Rank: 0
RYAIX Martin Ratio Rank: 0

UHPIX

UHPIX Risk / Return Rank: 2
UHPIX Sharpe Ratio Rank: 2
UHPIX Sortino Ratio Rank: 2
UHPIX Omega Ratio Rank: 3
UHPIX Calmar Ratio Rank: 2
UHPIX Martin Ratio Rank: 2

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.

RYAIX vs. UHPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) and ProFunds UltraShort China (UHPIX). 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.

	RYAIX	UHPIX	Difference
Sharpe ratio Return per unit of total volatility	-1.74	-0.19	-1.54
Sortino ratio Return per unit of downside risk	-2.60	0.08	-2.68
Omega ratio Gain probability vs. loss probability	0.73	1.01	-0.28
Calmar ratio Return relative to maximum drawdown	-1.00	-0.12	-0.88
Martin ratio Return relative to average drawdown	-2.13	-0.21	-1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYAIX vs. UHPIX - Sharpe Ratio Comparison

The current RYAIX Sharpe Ratio is -1.74, which is lower than the UHPIX Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of RYAIX and UHPIX, 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

	RYAIX	UHPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.74	-0.19	-1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.65	-0.31	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.85	-0.14	-0.71
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	-0.18	+0.01

Drawdowns

RYAIX vs. UHPIX - Drawdown Comparison

The maximum RYAIX drawdown since its inception was -98.92%, roughly equal to the maximum UHPIX drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for RYAIX and UHPIX.

Drawdown Indicators

	RYAIX	UHPIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.92%	-99.98%	+1.06%
Max Drawdown (1Y) Largest decline over 1 year	-27.31%	-46.98%	+19.67%
Max Drawdown (3Y) Largest decline over 3 years	-49.90%	-80.96%	+31.06%
Max Drawdown (5Y) Largest decline over 5 years	-60.97%	-96.64%	+35.67%
Max Drawdown (10Y) Largest decline over 10 years	-88.99%	-98.81%	+9.82%
Current Drawdown Current decline from peak	-98.92%	-99.96%	+1.04%
Average Drawdown Average peak-to-trough decline	-73.29%	-93.42%	+20.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.07%	27.13%	-14.06%

Volatility

RYAIX vs. UHPIX - Volatility Comparison

The current volatility for Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) is 4.54%, while ProFunds UltraShort China (UHPIX) has a volatility of 18.45%. This indicates that RYAIX experiences smaller price fluctuations and is considered to be less risky than UHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYAIX	UHPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	18.45%	-13.91%
Volatility (6M) Calculated over the trailing 6-month period	12.36%	37.20%	-24.84%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	52.44%	-36.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.86%	82.90%	-60.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.66%	228.53%	-205.87%

RYAIX vs. UHPIX - Expense Ratio Comparison

RYAIX has a 1.55% expense ratio, which is lower than UHPIX's 1.78% expense ratio.

Dividends

RYAIX vs. UHPIX - Dividend Comparison

RYAIX's dividend yield for the trailing twelve months is around 2.69%, less than UHPIX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	2.69%	2.23%	5.67%	4.81%	0.00%	0.00%	0.09%	0.72%
UHPIX ProFunds UltraShort China	3.47%	4.29%	0.00%	3.45%	0.00%	0.00%	0.00%	0.55%

Frequently Asked Questions

Can I hold both RYAIX and UHPIX in my portfolio?

RYAIX and UHPIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYAIX or UHPIX?

UHPIX has higher volatility (18.45%) compared to RYAIX (4.54%). In terms of maximum drawdown, RYAIX dropped -98.92% vs UHPIX's -99.98%.

Which has better risk-adjusted returns?

UHPIX currently has the higher Sharpe Ratio (-0.19 vs -1.74), 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.