RYCYX vs. RYDAX

Last updated Jun 5, 2026

RYCYX (Rydex Dow 2x Strategy Fund) and RYDAX (Rydex Dow Jones Industrial Average Fund) are both mutual funds - RYCYX is a Leveraged Equities fund managed by Rydex Funds, while RYDAX is a Large Cap Value Equities fund managed by Rydex Funds. Over the past 10 years, RYCYX returned 17.77%/yr vs 11.45%/yr for RYDAX. With a 1.00 correlation, they move nearly in lockstep. RYCYX charges 2.61%/yr vs 1.58%/yr for RYDAX.

Performance

RYCYX vs. RYDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Dow 2x Strategy Fund (RYCYX) and Rydex Dow Jones Industrial Average Fund (RYDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYCYX achieves a 8.70% return, which is significantly higher than RYDAX's 5.49% return. Over the past 10 years, RYCYX has outperformed RYDAX with an annualized return of 17.77%, while RYDAX has yielded a comparatively lower 11.45% annualized return.

RYCYX

• 1D: -2.43%
• 1M: 5.62%
• YTD: 8.70%
• 6M: 9.01%
• 1Y: 34.95%
• 3Y*: 22.99%
• 5Y*: 10.30%
• 10Y*: 17.77%

RYDAX

• 1D: -1.21%
• 1M: 2.94%
• YTD: 5.49%
• 6M: 5.90%
• 1Y: 19.51%
• 3Y*: 14.68%
• 5Y*: 8.01%
• 10Y*: 11.45%

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

RYCYX vs. RYDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYCYX Rydex Dow 2x Strategy Fund	8.70%	18.63%	19.61%	22.59%	-20.44%	39.43%	1.17%	46.39%	-14.47%	56.42%
RYDAX Rydex Dow Jones Industrial Average Fund	5.49%	12.98%	13.10%	14.36%	-8.88%	19.11%	7.47%	23.13%	-5.14%	26.19%

Correlation

The correlation between RYCYX and RYDAX 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	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	1.00

The correlation between RYCYX and RYDAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

RYCYX vs. RYDAX — Risk / Return Rank

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

RYCYX

RYCYX Risk / Return Rank: 25
RYCYX Sharpe Ratio Rank: 25
RYCYX Sortino Ratio Rank: 25
RYCYX Omega Ratio Rank: 23
RYCYX Calmar Ratio Rank: 24
RYCYX Martin Ratio Rank: 28

RYDAX

RYDAX Risk / Return Rank: 31
RYDAX Sharpe Ratio Rank: 31
RYDAX Sortino Ratio Rank: 32
RYDAX Omega Ratio Rank: 30
RYDAX Calmar Ratio Rank: 28
RYDAX Martin Ratio Rank: 33

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.

RYCYX vs. RYDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Dow 2x Strategy Fund (RYCYX) and Rydex Dow Jones Industrial Average Fund (RYDAX). 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.

	RYCYX	RYDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.60	-0.18
Sortino ratio: Return per unit of downside risk	2.05	2.35	-0.30
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	1.77	1.96	-0.19
Martin ratio: Return relative to average drawdown	6.44	7.41	-0.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYCYX vs. RYDAX - Sharpe Ratio Comparison

The current RYCYX Sharpe Ratio is 1.42, which is comparable to the RYDAX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of RYCYX and RYDAX, 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

	RYCYX	RYDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.60	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.54	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.65	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.66	-0.34

Drawdowns

RYCYX vs. RYDAX - Drawdown Comparison

The maximum RYCYX drawdown since its inception was -82.36%, which is greater than RYDAX's maximum drawdown of -37.34%. Use the drawdown chart below to compare losses from any high point for RYCYX and RYDAX.

Drawdown Indicators

	RYCYX	RYDAX	Difference
Max Drawdown Largest peak-to-trough decline	-82.36%	-37.34%	-45.02%
Max Drawdown (1Y) Largest decline over 1 year	-19.49%	-9.86%	-9.63%
Max Drawdown (3Y) Largest decline over 3 years	-32.15%	-16.50%	-15.65%
Max Drawdown (5Y) Largest decline over 5 years	-40.72%	-22.12%	-18.60%
Max Drawdown (10Y) Largest decline over 10 years	-63.19%	-37.34%	-25.85%
Current Drawdown Current decline from peak	-2.43%	-1.21%	-1.22%
Average Drawdown Average peak-to-trough decline	-18.12%	-4.34%	-13.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	2.61%	+2.73%

Volatility

RYCYX vs. RYDAX - Volatility Comparison

Rydex Dow 2x Strategy Fund (RYCYX) has a higher volatility of 6.07% compared to Rydex Dow Jones Industrial Average Fund (RYDAX) at 3.04%. This indicates that RYCYX's price experiences larger fluctuations and is considered to be riskier than RYDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYCYX	RYDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.07%	3.04%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	18.67%	9.31%	+9.36%
Volatility (1Y) Calculated over the trailing 1-year period	24.29%	12.12%	+12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.60%	14.82%	+14.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.21%	17.61%	+17.60%

RYCYX vs. RYDAX - Expense Ratio Comparison

RYCYX has a 2.61% expense ratio, which is higher than RYDAX's 1.58% expense ratio.

Dividends

RYCYX vs. RYDAX - Dividend Comparison

RYCYX's dividend yield for the trailing twelve months is around 1.65%, more than RYDAX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYCYX Rydex Dow 2x Strategy Fund	1.65%	1.80%	4.14%	0.48%	2.55%	4.76%	0.00%	3.81%	0.00%	5.81%	0.65%	7.34%
RYDAX Rydex Dow Jones Industrial Average Fund	0.36%	0.38%	1.73%	0.75%	3.17%	1.22%	4.87%	4.02%	1.25%	3.70%	0.56%	0.00%

Frequently Asked Questions

Can I hold both RYCYX and RYDAX in my portfolio?

With a correlation of 1.00, RYCYX and RYDAX 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.

Which is riskier, RYCYX or RYDAX?

RYCYX has higher volatility (6.07%) compared to RYDAX (3.04%). In terms of maximum drawdown, RYCYX dropped -82.36% vs RYDAX's -37.34%.

Which has better risk-adjusted returns?

RYDAX currently has the higher Sharpe Ratio (1.60 vs 1.42), 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.