RYDAX vs. SPY
Compare and contrast key facts about Rydex Dow Jones Industrial Average Fund (RYDAX) and State Street SPDR S&P 500 ETF (SPY).
RYDAX is managed by Rydex Funds. It was launched on Dec 1, 2015. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
RYDAX vs. SPY - Performance Comparison
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RYDAX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYDAX Rydex Dow Jones Industrial Average Fund | -5.94% | 12.98% | 13.10% | 14.36% | -8.88% | 19.11% | 7.47% | 23.13% | -5.14% | 26.19% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, RYDAX achieves a -5.94% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, RYDAX has underperformed SPY with an annualized return of 10.22%, while SPY has yielded a comparatively higher 13.98% annualized return.
RYDAX
- 1D
- -0.06%
- 1M
- -7.64%
- YTD
- -5.94%
- 6M
- -2.59%
- 1Y
- 7.67%
- 3Y*
- 10.99%
- 5Y*
- 6.69%
- 10Y*
- 10.22%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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RYDAX vs. SPY - Expense Ratio Comparison
RYDAX has a 1.58% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
RYDAX vs. SPY — Risk / Return Rank
RYDAX
SPY
RYDAX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Dow Jones Industrial Average Fund (RYDAX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 0.93 | -0.40 |
Sortino ratioReturn per unit of downside risk | 0.87 | 1.45 | -0.58 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.22 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 1.53 | -0.89 |
Martin ratioReturn relative to average drawdown | 2.34 | 7.30 | -4.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RYDAX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 0.93 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.69 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.78 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.56 | +0.03 |
Correlation
The correlation between RYDAX and SPY 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.
Dividends
RYDAX vs. SPY - Dividend Comparison
RYDAX's dividend yield for the trailing twelve months is around 0.40%, less than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYDAX Rydex Dow Jones Industrial Average Fund | 0.40% | 0.38% | 1.73% | 0.75% | 3.17% | 1.22% | 4.87% | 4.02% | 1.25% | 3.70% | 0.56% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
RYDAX vs. SPY - Drawdown Comparison
The maximum RYDAX drawdown since its inception was -37.34%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for RYDAX and SPY.
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Drawdown Indicators
| RYDAX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.34% | -55.19% | +17.85% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -12.05% | +1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -24.50% | +2.38% |
Max Drawdown (10Y)Largest decline over 10 years | -37.34% | -33.72% | -3.62% |
Current DrawdownCurrent decline from peak | -9.86% | -6.24% | -3.62% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -9.09% | +4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 2.52% | +0.43% |
Volatility
RYDAX vs. SPY - Volatility Comparison
The current volatility for Rydex Dow Jones Industrial Average Fund (RYDAX) is 3.99%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that RYDAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYDAX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 5.31% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 8.92% | 9.47% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.68% | 19.05% | -2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 17.06% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.56% | 17.92% | -0.36% |