RYBIX vs. MLPOX
RYBIX (Rydex Basic Materials Fund) and MLPOX (Invesco SteelPath MLP Alpha Fund) are both Energy Equities funds. Over the past 10 years, RYBIX returned 9.97%/yr vs 9.35%/yr for MLPOX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. RYBIX charges 1.36%/yr vs 1.29%/yr for MLPOX.
Performance
RYBIX vs. MLPOX - Performance Comparison
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Returns By Period
In the year-to-date period, RYBIX achieves a 6.72% return, which is significantly lower than MLPOX's 21.85% return. Over the past 10 years, RYBIX has outperformed MLPOX with an annualized return of 9.97%, while MLPOX has yielded a comparatively lower 9.35% annualized return.
RYBIX
- 1D
- 1.64%
- 1M
- -2.26%
- 6M
- -2.96%
- YTD
- 6.72%
- 1Y
- 30.26%
- 3Y*
- 11.63%
- 5Y*
- 7.77%
- 10Y*
- 9.97%
- ALL TIME*
- 6.88%
MLPOX
- 1D
- 0.19%
- 1M
- 3.43%
- 6M
- 14.95%
- YTD
- 21.85%
- 1Y
- 23.45%
- 3Y*
- 23.81%
- 5Y*
- 23.74%
- 10Y*
- 9.35%
- ALL TIME*
- 7.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RYBIX vs. MLPOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYBIX Rydex Basic Materials Fund | 6.72% | 33.49% | -2.10% | 9.49% | -9.14% | 23.42% | 20.55% | 21.82% | -17.27% | 21.81% |
MLPOX Invesco SteelPath MLP Alpha Fund | 21.85% | 4.47% | 40.63% | 20.44% | 29.45% | 39.81% | -30.40% | 6.71% | -14.77% | -6.96% |
Correlation
The correlation between RYBIX and MLPOX is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2010 | 0.52 |
Over the past year, the correlation between RYBIX and MLPOX has dropped to 0.03 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
RYBIX vs. MLPOX — Risk / Return Rank
RYBIX
MLPOX
RYBIX vs. MLPOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Basic Materials Fund (RYBIX) and Invesco SteelPath MLP Alpha Fund (MLPOX). 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.
| RYBIX | MLPOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.34 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 3.90 | -2.42 |
| Martin ratioReturn relative to average drawdown | 3.70 | 9.38 | -5.68 |
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Drawdowns
RYBIX vs. MLPOX - Drawdown Comparison
The maximum RYBIX drawdown since its inception was -65.66%, smaller than the maximum MLPOX drawdown of -76.99%. Use the drawdown chart below to compare losses from any high point for RYBIX and MLPOX.
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Drawdown Indicators
| RYBIX | MLPOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.66% | -76.99% | +11.33% |
Max Drawdown (1Y)Largest decline over 1 year | -18.86% | -5.93% | -12.93% |
Max Drawdown (3Y)Largest decline over 3 years | -21.29% | -15.18% | -6.11% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -21.17% | -5.89% |
Max Drawdown (10Y)Largest decline over 10 years | -43.19% | -72.41% | +29.22% |
Current DrawdownCurrent decline from peak | -13.77% | -1.47% | -12.30% |
Average DrawdownAverage peak-to-trough decline | -14.19% | -16.29% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.50% | 2.46% | +5.04% |
Volatility
RYBIX vs. MLPOX - Volatility Comparison
Rydex Basic Materials Fund (RYBIX) has a higher volatility of 6.44% compared to Invesco SteelPath MLP Alpha Fund (MLPOX) at 3.90%. This indicates that RYBIX's price experiences larger fluctuations and is considered to be riskier than MLPOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYBIX | MLPOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.44% | 3.90% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 21.34% | 9.22% | +12.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.34% | 11.73% | +13.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.92% | 19.05% | +2.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 25.96% | -3.59% |
RYBIX vs. MLPOX - Expense Ratio Comparison
RYBIX has a 1.36% expense ratio, which is higher than MLPOX's 1.29% expense ratio.
Dividends
RYBIX vs. MLPOX - Dividend Comparison
RYBIX's dividend yield for the trailing twelve months is around 7.88%, more than MLPOX's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPOX Invesco SteelPath MLP Alpha Fund | 4.75% | 5.31% | 4.26% | 5.55% | 6.19% | 7.52% | 13.39% | 10.42% | 10.08% | 8.00% | 7.18% | 7.85% |
RYBIX Rydex Basic Materials Fund | 7.88% | 8.41% | 11.79% | 2.12% | 1.68% | 1.89% | 2.20% | 4.42% | 1.59% | 0.40% | 1.08% | 2.16% |
Frequently Asked Questions
RYBIX and MLPOX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYBIX has higher volatility (6.44%) compared to MLPOX (3.90%). In terms of maximum drawdown, RYBIX dropped -65.66% vs MLPOX's -76.99%.
MLPOX currently has the higher Sharpe Ratio (1.97 vs 1.10), 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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