RYCZX vs. UWPIX

Last updated Jun 3, 2026

RYCZX (Rydex Inverse Dow 2x Strategy Fund) and UWPIX (ProFunds UltraShort Dow 30 Fund) are both Inverse Equities funds. Over the past 10 years, RYCZX returned -25.87%/yr vs -35.55%/yr for UWPIX. With a 0.99 correlation, they move nearly in lockstep. RYCZX charges 2.70%/yr vs 1.78%/yr for UWPIX.

Performance

RYCZX vs. UWPIX - 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 Dow 30 Fund (UWPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with RYCZX having a -11.83% return and UWPIX slightly higher at -11.29%. Over the past 10 years, RYCZX has outperformed UWPIX with an annualized return of -25.87%, while UWPIX has yielded a comparatively lower -35.55% 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%

UWPIX

• 1D: -0.25%
• 1M: -5.98%
• YTD: -11.29%
• 6M: -13.10%
• 1Y: -29.49%
• 3Y*: -23.35%
• 5Y*: -16.80%
• 10Y*: -35.55%

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

RYCZX vs. UWPIX - 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%
UWPIX ProFunds UltraShort Dow 30 Fund	-11.29%	-23.48%	-20.75%	-18.56%	5.91%	-35.49%	-86.42%	-36.17%	1.45%	-39.01%

Correlation

The correlation between RYCZX and UWPIX 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	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 4, 2005	0.99

The correlation between RYCZX and UWPIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

RYCZX vs. UWPIX — 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

UWPIX

UWPIX Risk / Return Rank: 0
UWPIX Sharpe Ratio Rank: 0
UWPIX Sortino Ratio Rank: 0
UWPIX Omega Ratio Rank: 0
UWPIX Calmar Ratio Rank: 0
UWPIX 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.

RYCZX vs. UWPIX - 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 Dow 30 Fund (UWPIX). 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	UWPIX	Difference
Sharpe ratio Return per unit of total volatility	-1.26	-1.23	-0.03
Sortino ratio Return per unit of downside risk	-1.81	-1.75	-0.06
Omega ratio Gain probability vs. loss probability	0.80	0.80	-0.01
Calmar ratio Return relative to maximum drawdown	-0.99	-0.99	0.00
Martin ratio Return relative to average drawdown	-1.60	-1.58	-0.01
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. UWPIX - Sharpe Ratio Comparison

The current RYCZX Sharpe Ratio is -1.26, which is comparable to the UWPIX Sharpe Ratio of -1.23. The chart below compares the historical Sharpe Ratios of RYCZX and UWPIX, 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	UWPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.26	-1.23	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.55	-0.56	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.74	-0.84	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	-0.03	-0.61

Drawdowns

RYCZX vs. UWPIX - Drawdown Comparison

The maximum RYCZX drawdown since its inception was -99.78%, roughly equal to the maximum UWPIX drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for RYCZX and UWPIX.

Drawdown Indicators

	RYCZX	UWPIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.78%	-99.94%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-30.62%	-30.03%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-57.42%	-59.81%	+2.39%
Max Drawdown (5Y) Largest decline over 5 years	-66.08%	-67.76%	+1.68%
Max Drawdown (10Y) Largest decline over 10 years	-95.33%	-98.85%	+3.52%
Current Drawdown Current decline from peak	-99.78%	-99.94%	+0.16%
Average Drawdown Average peak-to-trough decline	-78.85%	-77.73%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.05%	18.80%	+0.25%

Volatility

RYCZX vs. UWPIX - Volatility Comparison

Rydex Inverse Dow 2x Strategy Fund (RYCZX) and ProFunds UltraShort Dow 30 Fund (UWPIX) have volatilities of 6.05% and 6.14%, 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

	RYCZX	UWPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	6.14%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	18.65%	18.76%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	24.10%	24.19%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.53%	29.92%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.21%	42.25%	-7.04%

RYCZX vs. UWPIX - Expense Ratio Comparison

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

Dividends

RYCZX vs. UWPIX - Dividend Comparison

RYCZX's dividend yield for the trailing twelve months is around 6.67%, more than UWPIX's 5.09% 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%
UWPIX ProFunds UltraShort Dow 30 Fund	5.09%	4.51%	0.00%	2.28%	0.00%	0.00%	0.00%	0.35%

Frequently Asked Questions

Can I hold both RYCZX and UWPIX in my portfolio?

With a correlation of 1.00, RYCZX and UWPIX 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, RYCZX or UWPIX?

UWPIX has higher volatility (6.14%) compared to RYCZX (6.05%). In terms of maximum drawdown, RYCZX dropped -99.78% vs UWPIX's -99.94%.

Which has better risk-adjusted returns?

UWPIX currently has the higher Sharpe Ratio (-1.23 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.