RYDAX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Rydex Dow Jones Industrial Average Fund (RYDAX) and S&P 500 Index (^GSPC).

RYDAX is managed by Rydex Funds. It was launched on Dec 1, 2015.

Performance

RYDAX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Dow Jones Industrial Average Fund (RYDAX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

RYDAX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYDAX Rydex Dow Jones Industrial Average Fund	-3.60%	12.98%	13.10%	14.36%	-8.88%	19.11%	7.47%	23.13%	-5.14%	26.19%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, RYDAX achieves a -3.60% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, RYDAX has underperformed ^GSPC with an annualized return of 10.50%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

RYDAX

• 1D: 2.49%
• 1M: -5.26%
• YTD: -3.60%
• 6M: -0.25%
• 1Y: 10.38%
• 3Y*: 11.90%
• 5Y*: 7.11%
• 10Y*: 10.50%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

RYDAX vs. ^GSPC — Risk / Return Rank

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

RYDAX

RYDAX Risk / Return Rank: 27
RYDAX Sharpe Ratio Rank: 22
RYDAX Sortino Ratio Rank: 23
RYDAX Omega Ratio Rank: 21
RYDAX Calmar Ratio Rank: 36
RYDAX Martin Ratio Rank: 33

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

RYDAX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Dow Jones Industrial Average Fund (RYDAX) and S&P 500 Index (^GSPC). 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.

	RYDAX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.62	0.92	-0.30
Sortino ratio Return per unit of downside risk	1.00	1.41	-0.41
Omega ratio Gain probability vs. loss probability	1.14	1.21	-0.08
Calmar ratio Return relative to maximum drawdown	1.05	1.41	-0.36
Martin ratio Return relative to average drawdown	3.84	6.61	-2.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYDAX vs. ^GSPC - Sharpe Ratio Comparison

The current RYDAX Sharpe Ratio is 0.62, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of RYDAX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RYDAX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	0.92	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.61	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.68	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.46	+0.15

Correlation

The correlation between RYDAX and ^GSPC is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

RYDAX vs. ^GSPC - Drawdown Comparison

The maximum RYDAX drawdown since its inception was -37.34%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for RYDAX and ^GSPC.

Drawdown Indicators

	RYDAX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-37.34%	-56.78%	+19.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-12.14%	+1.27%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-25.43%	+3.31%
Max Drawdown (10Y) Largest decline over 10 years	-37.34%	-33.92%	-3.42%
Current Drawdown Current decline from peak	-7.62%	-5.78%	-1.84%
Average Drawdown Average peak-to-trough decline	-4.38%	-10.75%	+6.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.60%	+0.38%

Volatility

RYDAX vs. ^GSPC - Volatility Comparison

The current volatility for Rydex Dow Jones Industrial Average Fund (RYDAX) is 4.90%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that RYDAX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYDAX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	5.37%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	9.55%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	16.83%	18.33%	-1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.77%	16.90%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.58%	18.05%	-0.47%