RYCLX vs. SOPIX

Last updated Jun 4, 2026

RYCLX (Rydex Inverse Mid-Cap Strategy Fund) and SOPIX (ProFunds Short NASDAQ-100 Fund) are both Inverse Equities funds. Over the past 10 years, RYCLX returned -11.25%/yr vs -20.74%/yr for SOPIX. A 0.77 correlation means they provide meaningful diversification when combined. RYCLX charges 2.39%/yr vs 1.78%/yr for SOPIX.

Performance

RYCLX vs. SOPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, RYCLX achieves a -12.06% return, which is significantly higher than SOPIX's -16.96% return. Over the past 10 years, RYCLX has outperformed SOPIX with an annualized return of -11.25%, while SOPIX has yielded a comparatively lower -20.74% annualized return.

RYCLX

• 1D: -0.83%
• 1M: -3.50%
• YTD: -12.06%
• 6M: -11.00%
• 1Y: -15.41%
• 3Y*: -8.55%
• 5Y*: -5.59%
• 10Y*: -11.25%

SOPIX

• 1D: -0.46%
• 1M: -9.63%
• YTD: -16.96%
• 6M: -15.51%
• 1Y: -27.05%
• 3Y*: -21.92%
• 5Y*: -17.02%
• 10Y*: -20.74%

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

RYCLX vs. SOPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYCLX Rydex Inverse Mid-Cap Strategy Fund	-12.06%	-1.04%	-5.59%	-8.75%	8.93%	-24.21%	-25.53%	-21.03%	11.39%	-14.94%
SOPIX ProFunds Short NASDAQ-100 Fund	-16.96%	-15.80%	-23.82%	-31.85%	34.73%	-25.69%	-42.92%	-28.29%	-3.07%	-25.24%

Correlation

The correlation between RYCLX and SOPIX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 4, 2005	0.77

The correlation between RYCLX and SOPIX shifts across timeframes, from 0.62 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RYCLX vs. SOPIX — Risk / Return Rank

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

RYCLX

RYCLX Risk / Return Rank: 0
RYCLX Sharpe Ratio Rank: 0
RYCLX Sortino Ratio Rank: 0
RYCLX Omega Ratio Rank: 1
RYCLX Calmar Ratio Rank: 0
RYCLX Martin Ratio Rank: 0

SOPIX

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

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.

RYCLX vs. SOPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Mid-Cap Strategy Fund (RYCLX) and ProFunds Short NASDAQ-100 Fund (SOPIX). 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.

	RYCLX	SOPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	-1.73	+0.67
Sortino ratio: Return per unit of downside risk	-1.43	-2.60	+1.17
Omega ratio: Gain probability vs. loss probability	0.84	0.73	+0.11
Calmar ratio: Return relative to maximum drawdown	-1.00	-1.01	+0.01
Martin ratio: Return relative to average drawdown	-1.97	-2.19	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYCLX vs. SOPIX - Sharpe Ratio Comparison

The current RYCLX Sharpe Ratio is -1.06, which is higher than the SOPIX Sharpe Ratio of -1.73. The chart below compares the historical Sharpe Ratios of RYCLX and SOPIX, 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

	RYCLX	SOPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.06	-1.73	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	-0.73	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.53	-0.92	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	-0.81	+0.26

Drawdowns

RYCLX vs. SOPIX - Drawdown Comparison

The maximum RYCLX drawdown since its inception was -95.55%, roughly equal to the maximum SOPIX drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for RYCLX and SOPIX.

Drawdown Indicators

	RYCLX	SOPIX	Difference
Max Drawdown Largest peak-to-trough decline	-95.55%	-99.07%	+3.52%
Max Drawdown (1Y) Largest decline over 1 year	-16.44%	-27.45%	+11.01%
Max Drawdown (3Y) Largest decline over 3 years	-30.72%	-54.87%	+24.15%
Max Drawdown (5Y) Largest decline over 5 years	-33.32%	-65.00%	+31.68%
Max Drawdown (10Y) Largest decline over 10 years	-71.25%	-90.86%	+19.61%
Current Drawdown Current decline from peak	-95.55%	-99.07%	+3.52%
Average Drawdown Average peak-to-trough decline	-70.18%	-76.14%	+5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.42%	12.80%	-4.38%

Volatility

RYCLX vs. SOPIX - Volatility Comparison

Rydex Inverse Mid-Cap Strategy Fund (RYCLX) and ProFunds Short NASDAQ-100 Fund (SOPIX) have volatilities of 4.43% and 4.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYCLX	SOPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.53%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	12.16%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	15.54%	16.01%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	23.38%	-2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	22.49%	-1.03%

RYCLX vs. SOPIX - Expense Ratio Comparison

RYCLX has a 2.39% expense ratio, which is higher than SOPIX's 1.78% expense ratio.

Dividends

RYCLX vs. SOPIX - Dividend Comparison

RYCLX's dividend yield for the trailing twelve months is around 37.53%, more than SOPIX's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYCLX Rydex Inverse Mid-Cap Strategy Fund	37.53%	33.01%	25.75%	9.12%	0.00%	0.00%	0.76%	0.89%
SOPIX ProFunds Short NASDAQ-100 Fund	2.58%	2.14%	0.00%	6.71%	0.00%	0.00%	0.00%	0.29%

Frequently Asked Questions

Can I hold both RYCLX and SOPIX in my portfolio?

RYCLX and SOPIX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYCLX or SOPIX?

SOPIX has higher volatility (4.53%) compared to RYCLX (4.43%). In terms of maximum drawdown, RYCLX dropped -95.55% vs SOPIX's -99.07%.

Which has better risk-adjusted returns?

RYCLX currently has the higher Sharpe Ratio (-1.06 vs -1.73), 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.