RYCQX vs. UIPIX
RYCQX (Rydex Inverse Russell 2000 Strategy Fund) and UIPIX (ProFunds UltraShort Mid Cap Fund) are both Inverse Equities funds. Over the past 10 years, RYCQX returned -12.09%/yr vs -6.14%/yr for UIPIX. Their correlation of 0.95 means they have usually moved in the same direction. RYCQX charges 2.49%/yr vs 1.78%/yr for UIPIX.
Performance
RYCQX vs. UIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, RYCQX achieves a -15.69% return, which is significantly higher than UIPIX's -24.82% return. Over the past 10 years, RYCQX has underperformed UIPIX with an annualized return of -12.09%, while UIPIX has yielded a comparatively higher -6.14% annualized return.
RYCQX
- 1D
- -1.70%
- 1M
- 0.90%
- 6M
- -10.47%
- YTD
- -15.69%
- 1Y
- -23.76%
- 3Y*
- -11.12%
- 5Y*
- -6.68%
- 10Y*
- -12.09%
- ALL TIME*
- -12.65%
UIPIX
- 1D
- -2.16%
- 1M
- 0.43%
- 6M
- -17.20%
- YTD
- -24.82%
- 1Y
- -31.89%
- 3Y*
- -22.03%
- 5Y*
- 29.69%
- 10Y*
- -6.14%
- ALL TIME*
- -1.77%
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 |
RYCQX vs. UIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYCQX Rydex Inverse Russell 2000 Strategy Fund | -15.69% | -9.40% | -6.15% | -10.73% | 16.50% | -18.59% | -31.59% | -20.84% | 10.41% | -14.20% |
UIPIX ProFunds UltraShort Mid Cap Fund | -24.82% | -13.23% | -22.21% | 668.01% | 11.30% | -42.71% | -53.90% | -38.37% | 21.21% | -27.33% |
Correlation
The correlation between RYCQX and UIPIX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2005 | 0.95 |
The correlation between RYCQX and UIPIX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
RYCQX vs. UIPIX — Risk / Return Rank
RYCQX
UIPIX
RYCQX vs. UIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Russell 2000 Strategy Fund (RYCQX) and ProFunds UltraShort Mid Cap Fund (UIPIX). 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 | UIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.82 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -0.95 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.69 | -1.61 | -0.09 |
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Drawdowns
RYCQX vs. UIPIX - Drawdown Comparison
The maximum RYCQX drawdown since its inception was -96.16%, roughly equal to the maximum UIPIX drawdown of -99.84%. Use the drawdown chart below to compare losses from any high point for RYCQX and UIPIX.
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Drawdown Indicators
| RYCQX | UIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.16% | -99.84% | +3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -25.18% | -35.47% | +10.29% |
Max Drawdown (3Y)Largest decline over 3 years | -42.85% | -65.67% | +22.82% |
Max Drawdown (5Y)Largest decline over 5 years | -42.88% | -65.67% | +22.79% |
Max Drawdown (10Y)Largest decline over 10 years | -74.27% | -90.12% | +15.85% |
Current DrawdownCurrent decline from peak | -96.09% | -99.21% | +3.12% |
Average DrawdownAverage peak-to-trough decline | -70.72% | -80.87% | +10.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.60% | 20.98% | -4.38% |
Volatility
RYCQX vs. UIPIX - Volatility Comparison
The current volatility for Rydex Inverse Russell 2000 Strategy Fund (RYCQX) is 4.20%, while ProFunds UltraShort Mid Cap Fund (UIPIX) has a volatility of 7.08%. This indicates that RYCQX experiences smaller price fluctuations and is considered to be less risky than UIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYCQX | UIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 7.08% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 23.23% | -9.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.29% | 31.15% | -11.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.40% | 418.86% | -395.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.83% | 297.65% | -273.82% |
RYCQX vs. UIPIX - Expense Ratio Comparison
RYCQX has a 2.49% expense ratio, which is higher than UIPIX's 1.78% expense ratio.
Dividends
RYCQX vs. UIPIX - Dividend Comparison
RYCQX's dividend yield for the trailing twelve months is around 9.33%, more than UIPIX's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYCQX Rydex Inverse Russell 2000 Strategy Fund | 9.33% | 7.87% | 7.14% | 9.87% | 0.00% | 0.00% | 0.08% | 0.86% |
UIPIX ProFunds UltraShort Mid Cap Fund | 3.46% | 2.60% | 0.00% | 4.74% | 0.00% | 0.00% | 0.00% | 0.48% |
Frequently Asked Questions
With a correlation of 0.91, RYCQX and UIPIX 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.
UIPIX has higher volatility (7.08%) compared to RYCQX (4.20%). In terms of maximum drawdown, RYCQX dropped -96.16% vs UIPIX's -99.84%.
UIPIX currently has the higher Sharpe Ratio (-1.08 vs -1.32), 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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