RYAIX vs. URPIX
RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) and URPIX (ProFunds UltraBear Fund) are both Inverse Equities funds. Over the past 10 years, RYAIX returned -19.36%/yr vs -28.77%/yr for URPIX. Their correlation of 0.87 suggests significant overlap in exposure. RYAIX charges 1.55%/yr vs 1.78%/yr for URPIX.
Performance
RYAIX vs. URPIX - Performance Comparison
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Returns By Period
In the year-to-date period, RYAIX achieves a -14.19% return, which is significantly lower than URPIX's -12.93% return. Over the past 10 years, RYAIX has outperformed URPIX with an annualized return of -19.36%, while URPIX has yielded a comparatively lower -28.77% annualized return.
RYAIX
- 1D
- 3.33%
- 1M
- 0.11%
- YTD
- -14.19%
- 6M
- -12.72%
- 1Y
- -22.71%
- 3Y*
- -17.65%
- 5Y*
- -13.34%
- 10Y*
- -19.36%
URPIX
- 1D
- 2.96%
- 1M
- 2.96%
- YTD
- -12.93%
- 6M
- -10.44%
- 1Y
- -29.05%
- 3Y*
- -28.34%
- 5Y*
- -22.01%
- 10Y*
- -28.77%
RYAIX vs. URPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | -14.19% | -15.63% | -15.64% | -31.71% | 35.92% | -24.88% | -40.98% | -27.65% | -2.63% | -24.47% |
URPIX ProFunds UltraBear Fund | -12.93% | -27.06% | -32.89% | -31.77% | 29.74% | -43.61% | -51.10% | -42.03% | 4.20% | -32.58% |
Correlation
The correlation between RYAIX and URPIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999 | 0.87 |
The correlation between RYAIX and URPIX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.
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Return for Risk
RYAIX vs. URPIX — Risk / Return Rank
RYAIX
URPIX
RYAIX vs. URPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) and ProFunds UltraBear Fund (URPIX). 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.
| RYAIX | URPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.80 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.92 | -0.02 |
| Martin ratioReturn relative to average drawdown | -2.01 | -1.64 | -0.37 |
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Drawdowns
RYAIX vs. URPIX - Drawdown Comparison
The maximum RYAIX drawdown since its inception was -98.93%, roughly equal to the maximum URPIX drawdown of -99.92%. Use the drawdown chart below to compare losses from any high point for RYAIX and URPIX.
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Drawdown Indicators
| RYAIX | URPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.93% | -99.92% | +0.99% |
Max Drawdown (1Y)Largest decline over 1 year | -25.53% | -33.47% | +7.94% |
Max Drawdown (3Y)Largest decline over 3 years | -50.13% | -69.89% | +19.76% |
Max Drawdown (5Y)Largest decline over 5 years | -61.15% | -76.97% | +15.82% |
Max Drawdown (10Y)Largest decline over 10 years | -89.04% | -96.96% | +7.92% |
Current DrawdownCurrent decline from peak | -98.89% | -99.92% | +1.03% |
Average DrawdownAverage peak-to-trough decline | -73.33% | -79.10% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.98% | 20.26% | -7.28% |
Volatility
RYAIX vs. URPIX - Volatility Comparison
The current volatility for Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) is 8.98%, while ProFunds UltraBear Fund (URPIX) has a volatility of 9.79%. This indicates that RYAIX experiences smaller price fluctuations and is considered to be less risky than URPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYAIX | URPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.98% | 9.79% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.65% | 20.00% | -5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.11% | 25.22% | -7.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.14% | 34.04% | -10.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 35.65% | -12.87% |
RYAIX vs. URPIX - Expense Ratio Comparison
RYAIX has a 1.55% expense ratio, which is lower than URPIX's 1.78% expense ratio.
Dividends
RYAIX vs. URPIX - Dividend Comparison
RYAIX's dividend yield for the trailing twelve months is around 2.60%, less than URPIX's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | 2.60% | 2.23% | 5.67% | 4.81% | 0.00% | 0.00% | 0.09% | 0.72% |
URPIX ProFunds UltraBear Fund | 3.13% | 2.73% | 0.00% | 3.02% | 0.00% | 0.00% | 0.47% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, RYAIX and URPIX 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.
URPIX has higher volatility (9.79%) compared to RYAIX (8.98%). In terms of maximum drawdown, RYAIX dropped -98.93% vs URPIX's -99.92%.
URPIX currently has the higher Sharpe Ratio (-1.22 vs -1.32), 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.
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