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 -19.63%/yr vs -40.58%/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 -16.95% return, which is significantly higher than USPIX's -32.26% return. Over the past 10 years, RYAIX has outperformed USPIX with an annualized return of -19.63%, while USPIX has yielded a comparatively lower -40.58% annualized return.
RYAIX
- 1D
- 0.21%
- 1M
- -3.12%
- YTD
- -16.95%
- 6M
- -15.72%
- 1Y
- -26.31%
- 3Y*
- -18.55%
- 5Y*
- -14.02%
- 10Y*
- -19.63%
USPIX
- 1D
- 0.56%
- 1M
- -6.83%
- YTD
- -32.26%
- 6M
- -30.30%
- 1Y
- -48.38%
- 3Y*
- -39.84%
- 5Y*
- -32.97%
- 10Y*
- -40.58%
RYAIX vs. USPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | -16.95% | -15.63% | -15.64% | -31.71% | 35.92% | -24.88% | -40.98% | -27.65% | -2.63% | -24.47% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | -32.26% | -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 | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.75 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -1.01 | 0.00 |
| Martin ratioReturn relative to average drawdown | -2.10 | -1.94 | -0.17 |
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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 | -25.69% | -47.36% | +21.67% |
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 | -89.04% | -99.48% | +10.44% |
Current DrawdownCurrent decline from peak | -98.92% | -100.00% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -73.33% | -96.43% | +23.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.68% | 26.85% | -13.17% |
Volatility
RYAIX vs. USPIX - Volatility Comparison
The current volatility for Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) is 8.29%, while ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a volatility of 16.48%. 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 | 8.29% | 16.48% | -8.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.30% | 28.35% | -14.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.81% | 35.40% | -17.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.10% | 45.66% | -22.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.79% | 44.62% | -21.83% |
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 2.68%, less than USPIX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | 2.68% | 2.23% | 5.67% | 4.81% | 0.00% | 0.00% | 0.09% | 0.72% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | 3.99% | 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 (16.48%) compared to RYAIX (8.29%). In terms of maximum drawdown, RYAIX dropped -98.93% vs USPIX's -100.00%.
USPIX currently has the higher Sharpe Ratio (-1.40 vs -1.53), 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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