RYAIX vs. USPIX
RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) and USPIX (ProFunds UltraShort NASDAQ-100 Fund) are both Inverse Equities funds. Over the past 10 years, RYAIX returned -18.93%/yr vs -39.58%/yr for USPIX. With a 0.99 correlation, they move nearly in lockstep. RYAIX charges 1.55%/yr vs 1.68%/yr for USPIX.
Performance
RYAIX vs. USPIX - Performance Comparison
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Returns By Period
In the year-to-date period, RYAIX achieves a -15.47% return, which is significantly higher than USPIX's -30.25% return. Over the past 10 years, RYAIX has outperformed USPIX with an annualized return of -18.93%, while USPIX has yielded a comparatively lower -39.58% annualized return.
RYAIX
- 1D
- -0.28%
- 1M
- -0.68%
- 6M
- -13.81%
- YTD
- -15.47%
- 1Y
- -22.08%
- 3Y*
- -17.73%
- 5Y*
- -13.04%
- 10Y*
- -18.93%
USPIX
- 1D
- -0.63%
- 1M
- -2.12%
- 6M
- -27.42%
- YTD
- -30.25%
- 1Y
- -42.41%
- 3Y*
- -38.71%
- 5Y*
- -31.51%
- 10Y*
- -39.58%
RYAIX vs. USPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | -15.47% | -15.63% | -15.64% | -31.71% | 35.92% | -24.88% | -40.98% | -27.65% | -2.63% | -24.47% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | -30.25% | -35.26% | -38.20% | -57.06% | 61.80% | -46.20% | -70.91% | -50.15% | -9.56% | -44.56% |
Correlation
The correlation between RYAIX and USPIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999 | 0.99 |
The correlation between RYAIX and USPIX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
RYAIX vs. USPIX — Risk / Return Rank
RYAIX
USPIX
RYAIX vs. USPIX - 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 NASDAQ-100 Fund (USPIX). 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 | USPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.80 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.94 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.81 | -1.85 | +0.04 |
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Drawdowns
RYAIX vs. USPIX - Drawdown Comparison
The maximum RYAIX drawdown since its inception was -98.93%, roughly equal to the maximum USPIX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for RYAIX and USPIX.
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Drawdown Indicators
| RYAIX | USPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.93% | -100.00% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -25.47% | -45.06% | +19.59% |
Max Drawdown (3Y)Largest decline over 3 years | -50.13% | -80.96% | +30.83% |
Max Drawdown (5Y)Largest decline over 5 years | -61.15% | -89.53% | +28.38% |
Max Drawdown (10Y)Largest decline over 10 years | -88.00% | -99.37% | +11.37% |
Current DrawdownCurrent decline from peak | -98.90% | -100.00% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -73.38% | -96.44% | +23.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.12% | 22.87% | -10.75% |
Volatility
RYAIX vs. USPIX - Volatility Comparison
The current volatility for Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) is 8.50%, while ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a volatility of 16.92%. This indicates that RYAIX experiences smaller price fluctuations and is considered to be less risky than USPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYAIX | USPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.50% | 16.92% | -8.42% |
Volatility (6M)Calculated over the trailing 6-month period | 15.27% | 30.22% | -14.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 36.80% | -18.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.22% | 45.90% | -22.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 44.60% | -21.82% |
RYAIX vs. USPIX - Expense Ratio Comparison
RYAIX has a 1.55% expense ratio, which is lower than USPIX's 1.68% expense ratio.
Dividends
RYAIX vs. USPIX - Dividend Comparison
RYAIX's dividend yield for the trailing twelve months is around 2.64%, less than USPIX's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | 2.64% | 2.23% | 5.67% | 4.81% | 0.00% | 0.00% | 0.09% | 0.72% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | 3.88% | 2.71% | 0.00% | 5.92% | 0.00% | 0.00% | 0.07% | 0.36% |
Frequently Asked Questions
With a correlation of 1.00, RYAIX and USPIX 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.
USPIX has higher volatility (16.92%) compared to RYAIX (8.50%). In terms of maximum drawdown, RYAIX dropped -98.93% vs USPIX's -100.00%.
USPIX currently has the higher Sharpe Ratio (-1.15 vs -1.18), 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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