RYDAX vs. DAX
RYDAX (Rydex Dow Jones Industrial Average Fund) and DAX (Global X DAX Germany ETF) are both funds - RYDAX is a Large Cap Value Equities fund managed by Rydex Funds, while DAX is a Europe Equities fund tracking the DAX Index. Over the past 10 years, RYDAX returned 11.64%/yr vs 9.79%/yr for DAX. A 0.64 correlation means they provide meaningful diversification when combined. RYDAX charges 1.58%/yr vs 0.20%/yr for DAX.
Performance
RYDAX vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, RYDAX achieves a 7.34% return, which is significantly higher than DAX's -0.76% return. Over the past 10 years, RYDAX has outperformed DAX with an annualized return of 11.64%, while DAX has yielded a comparatively lower 9.79% annualized return.
RYDAX
- 1D
- 0.12%
- 1M
- 2.04%
- YTD
- 7.34%
- 6M
- 6.64%
- 1Y
- 22.21%
- 3Y*
- 14.74%
- 5Y*
- 9.32%
- 10Y*
- 11.64%
DAX
- 1D
- -0.20%
- 1M
- -0.20%
- YTD
- -0.76%
- 6M
- -0.13%
- 1Y
- 6.24%
- 3Y*
- 17.58%
- 5Y*
- 8.44%
- 10Y*
- 9.79%
RYDAX vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYDAX Rydex Dow Jones Industrial Average Fund | 7.34% | 12.98% | 13.10% | 14.36% | -8.88% | 19.11% | 7.47% | 23.13% | -5.14% | 26.19% |
DAX Global X DAX Germany ETF | -0.76% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between RYDAX and DAX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.64 |
The correlation between RYDAX and DAX shifts across timeframes, from 0.60 (3 years) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RYDAX vs. DAX — Risk / Return Rank
RYDAX
DAX
RYDAX vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Dow Jones Industrial Average Fund (RYDAX) and Global X DAX Germany ETF (DAX). 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.
| RYDAX | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.07 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 0.42 | +1.85 |
| Martin ratioReturn relative to average drawdown | 8.56 | 1.30 | +7.26 |
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Drawdowns
RYDAX vs. DAX - Drawdown Comparison
The maximum RYDAX drawdown since its inception was -37.34%, smaller than the maximum DAX drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for RYDAX and DAX.
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Drawdown Indicators
| RYDAX | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.34% | -45.58% | +8.24% |
Max Drawdown (1Y)Largest decline over 1 year | -9.86% | -14.82% | +4.96% |
Max Drawdown (3Y)Largest decline over 3 years | -16.50% | -16.03% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -38.92% | +16.80% |
Max Drawdown (10Y)Largest decline over 10 years | -37.34% | -45.58% | +8.24% |
Current DrawdownCurrent decline from peak | -0.86% | -4.72% | +3.86% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -10.48% | +6.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 4.80% | -2.19% |
Volatility
RYDAX vs. DAX - Volatility Comparison
The current volatility for Rydex Dow Jones Industrial Average Fund (RYDAX) is 4.40%, while Global X DAX Germany ETF (DAX) has a volatility of 5.15%. This indicates that RYDAX experiences smaller price fluctuations and is considered to be less risky than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYDAX | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 5.15% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 14.84% | -5.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.46% | 17.98% | -5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.89% | 20.43% | -5.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.64% | 21.22% | -3.58% |
RYDAX vs. DAX - Expense Ratio Comparison
RYDAX has a 1.58% expense ratio, which is higher than DAX's 0.20% expense ratio.
Dividends
RYDAX vs. DAX - Dividend Comparison
RYDAX's dividend yield for the trailing twelve months is around 0.35%, less than DAX's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | 1.48% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
RYDAX Rydex Dow Jones Industrial Average Fund | 0.35% | 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
RYDAX and DAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (5.15%) compared to RYDAX (4.40%). In terms of maximum drawdown, RYDAX dropped -37.34% vs DAX's -45.58%.
RYDAX currently has the higher Sharpe Ratio (1.80 vs 0.35), 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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