RYCQX vs. GRZZX
RYCQX (Rydex Inverse Russell 2000 Strategy Fund) and GRZZX (Grizzly Short Fund) are both Inverse Equities funds. Over the past 10 years, RYCQX returned -12.31%/yr vs -0.93%/yr for GRZZX. Their correlation of 0.90 suggests significant overlap in exposure. RYCQX charges 2.49%/yr vs 1.61%/yr for GRZZX.
Performance
RYCQX vs. GRZZX - Performance Comparison
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Returns By Period
In the year-to-date period, RYCQX achieves a -15.89% return, which is significantly lower than GRZZX's -8.15% return. Over the past 10 years, RYCQX has underperformed GRZZX with an annualized return of -12.31%, while GRZZX has yielded a comparatively higher -0.93% annualized return.
RYCQX
- 1D
- 0.54%
- 1M
- -0.83%
- 6M
- -10.87%
- YTD
- -15.89%
- 1Y
- -23.04%
- 3Y*
- -11.73%
- 5Y*
- -6.11%
- 10Y*
- -12.31%
GRZZX
- 1D
- -0.27%
- 1M
- -2.77%
- 6M
- -4.16%
- YTD
- -8.15%
- 1Y
- -6.61%
- 3Y*
- -6.53%
- 5Y*
- -3.56%
- 10Y*
- -0.93%
RYCQX vs. GRZZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYCQX Rydex Inverse Russell 2000 Strategy Fund | -15.89% | -9.40% | -6.15% | -10.73% | 16.50% | -18.59% | -31.59% | -20.84% | 10.41% | -14.20% |
GRZZX Grizzly Short Fund | -8.15% | -2.98% | -6.74% | -18.72% | 22.43% | -15.87% | -41.33% | -29.43% | 301.98% | -19.84% |
Correlation
The correlation between RYCQX and GRZZX is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2005 | 0.90 |
The correlation between RYCQX and GRZZX has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
RYCQX vs. GRZZX — Risk / Return Rank
RYCQX
GRZZX
RYCQX vs. GRZZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Russell 2000 Strategy Fund (RYCQX) and Grizzly Short Fund (GRZZX). 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.
| RYCQX | GRZZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.95 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.36 | -0.47 |
| Martin ratioReturn relative to average drawdown | -1.43 | -0.83 | -0.60 |
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Drawdowns
RYCQX vs. GRZZX - Drawdown Comparison
The maximum RYCQX drawdown since its inception was -96.16%, roughly equal to the maximum GRZZX drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for RYCQX and GRZZX.
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Drawdown Indicators
| RYCQX | GRZZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.16% | -91.80% | -4.36% |
Max Drawdown (1Y)Largest decline over 1 year | -26.78% | -15.84% | -10.94% |
Max Drawdown (3Y)Largest decline over 3 years | -42.85% | -31.08% | -11.77% |
Max Drawdown (5Y)Largest decline over 5 years | -42.88% | -39.06% | -3.82% |
Max Drawdown (10Y)Largest decline over 10 years | -74.27% | -73.07% | -1.20% |
Current DrawdownCurrent decline from peak | -96.10% | -89.76% | -6.34% |
Average DrawdownAverage peak-to-trough decline | -70.64% | -69.43% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.39% | 6.84% | +8.55% |
Volatility
RYCQX vs. GRZZX - Volatility Comparison
Rydex Inverse Russell 2000 Strategy Fund (RYCQX) has a higher volatility of 4.93% compared to Grizzly Short Fund (GRZZX) at 4.28%. This indicates that RYCQX's price experiences larger fluctuations and is considered to be riskier than GRZZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYCQX | GRZZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 4.28% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 10.55% | +3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.45% | 13.95% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.46% | 19.61% | +3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.81% | 96.61% | -72.80% |
RYCQX vs. GRZZX - Expense Ratio Comparison
RYCQX has a 2.49% expense ratio, which is higher than GRZZX's 1.61% expense ratio.
Dividends
RYCQX vs. GRZZX - Dividend Comparison
RYCQX's dividend yield for the trailing twelve months is around 9.35%, more than GRZZX's 4.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | 4.98% | 6.00% | 10.30% | 6.61% | 0.00% | 0.00% | 0.00% | 1.14% |
RYCQX Rydex Inverse Russell 2000 Strategy Fund | 9.35% | 7.87% | 7.14% | 9.87% | 0.00% | 0.00% | 0.08% | 0.86% |
Frequently Asked Questions
RYCQX and GRZZX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYCQX has higher volatility (4.93%) compared to GRZZX (4.28%). In terms of maximum drawdown, RYCQX dropped -96.16% vs GRZZX's -91.80%.
GRZZX currently has the higher Sharpe Ratio (-0.41 vs -1.14), 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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