RYCZX vs. UHPIX

Last updated Jun 3, 2026

RYCZX (Rydex Inverse Dow 2x Strategy Fund) and UHPIX (ProFunds UltraShort China) are both Inverse Equities funds. Over the past 10 years, RYCZX returned -25.87%/yr vs -31.39%/yr for UHPIX. A 0.55 correlation means they provide meaningful diversification when combined. RYCZX charges 2.70%/yr vs 1.78%/yr for UHPIX.

Performance

RYCZX vs. UHPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Inverse Dow 2x Strategy Fund (RYCZX) and ProFunds UltraShort China (UHPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYCZX achieves a -11.83% return, which is significantly lower than UHPIX's 23.70% return. Over the past 10 years, RYCZX has outperformed UHPIX with an annualized return of -25.87%, while UHPIX has yielded a comparatively lower -31.39% annualized return.

RYCZX

• 1D: -0.25%
• 1M: -6.02%
• YTD: -11.83%
• 6M: -13.60%
• 1Y: -30.11%
• 3Y*: -21.96%
• 5Y*: -16.10%
• 10Y*: -25.87%

UHPIX

• 1D: -2.61%
• 1M: 7.85%
• YTD: 23.70%
• 6M: 32.92%
• 1Y: -9.17%
• 3Y*: -30.66%
• 5Y*: -25.33%
• 10Y*: -31.39%

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

RYCZX vs. UHPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYCZX Rydex Inverse Dow 2x Strategy Fund	-11.83%	-22.14%	-16.97%	-19.05%	5.48%	-36.32%	-45.37%	-36.65%	0.75%	-39.59%
UHPIX ProFunds UltraShort China	23.70%	-49.82%	-29.87%	-26.13%	-63.62%	94.89%	-64.76%	-43.34%	39.47%	-57.67%

Correlation

The correlation between RYCZX and UHPIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 5, 2008	0.55

The correlation between RYCZX and UHPIX shifts across timeframes, from 0.35 (3 years) to 0.55 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RYCZX vs. UHPIX — Risk / Return Rank

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

RYCZX

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

UHPIX

UHPIX Risk / Return Rank: 2
UHPIX Sharpe Ratio Rank: 2
UHPIX Sortino Ratio Rank: 2
UHPIX Omega Ratio Rank: 3
UHPIX Calmar Ratio Rank: 2
UHPIX Martin Ratio Rank: 2

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.

RYCZX vs. UHPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Dow 2x Strategy Fund (RYCZX) and ProFunds UltraShort China (UHPIX). 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.

	RYCZX	UHPIX	Difference
Sharpe ratio Return per unit of total volatility	-1.26	-0.19	-1.07
Sortino ratio Return per unit of downside risk	-1.81	0.08	-1.89
Omega ratio Gain probability vs. loss probability	0.80	1.01	-0.21
Calmar ratio Return relative to maximum drawdown	-0.99	-0.12	-0.87
Martin ratio Return relative to average drawdown	-1.60	-0.21	-1.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYCZX vs. UHPIX - Sharpe Ratio Comparison

The current RYCZX Sharpe Ratio is -1.26, which is lower than the UHPIX Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of RYCZX and UHPIX, 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

	RYCZX	UHPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.26	-0.19	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.55	-0.31	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.74	-0.14	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	-0.18	-0.47

Drawdowns

RYCZX vs. UHPIX - Drawdown Comparison

The maximum RYCZX drawdown since its inception was -99.78%, roughly equal to the maximum UHPIX drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for RYCZX and UHPIX.

Drawdown Indicators

	RYCZX	UHPIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.78%	-99.98%	+0.20%
Max Drawdown (1Y) Largest decline over 1 year	-30.62%	-46.98%	+16.36%
Max Drawdown (3Y) Largest decline over 3 years	-57.42%	-80.96%	+23.54%
Max Drawdown (5Y) Largest decline over 5 years	-66.08%	-96.64%	+30.56%
Max Drawdown (10Y) Largest decline over 10 years	-95.33%	-98.81%	+3.48%
Current Drawdown Current decline from peak	-99.78%	-99.96%	+0.18%
Average Drawdown Average peak-to-trough decline	-78.85%	-93.42%	+14.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.05%	27.13%	-8.08%

Volatility

RYCZX vs. UHPIX - Volatility Comparison

The current volatility for Rydex Inverse Dow 2x Strategy Fund (RYCZX) is 6.05%, while ProFunds UltraShort China (UHPIX) has a volatility of 18.45%. This indicates that RYCZX experiences smaller price fluctuations and is considered to be less risky than UHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYCZX	UHPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	18.45%	-12.40%
Volatility (6M) Calculated over the trailing 6-month period	18.65%	37.20%	-18.55%
Volatility (1Y) Calculated over the trailing 1-year period	24.10%	52.44%	-28.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.53%	82.90%	-53.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.21%	228.53%	-193.32%

RYCZX vs. UHPIX - Expense Ratio Comparison

RYCZX has a 2.70% expense ratio, which is higher than UHPIX's 1.78% expense ratio.

Dividends

RYCZX vs. UHPIX - Dividend Comparison

RYCZX's dividend yield for the trailing twelve months is around 6.67%, more than UHPIX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYCZX Rydex Inverse Dow 2x Strategy Fund	6.67%	5.88%	4.32%	1.00%	0.00%	0.00%	0.05%	0.24%
UHPIX ProFunds UltraShort China	3.47%	4.29%	0.00%	3.45%	0.00%	0.00%	0.00%	0.55%

Frequently Asked Questions

Can I hold both RYCZX and UHPIX in my portfolio?

RYCZX and UHPIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYCZX or UHPIX?

UHPIX has higher volatility (18.45%) compared to RYCZX (6.05%). In terms of maximum drawdown, RYCZX dropped -99.78% vs UHPIX's -99.98%.

Which has better risk-adjusted returns?

UHPIX currently has the higher Sharpe Ratio (-0.19 vs -1.26), 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.