RYEIX vs. GAGEX
RYEIX (Rydex Energy Fund) and GAGEX (Guinness Atkinson Global Energy Fund) are both Energy Equities funds. Over the past 10 years, RYEIX returned 6.75%/yr vs 7.95%/yr for GAGEX. Their correlation of 0.94 means they have usually moved in the same direction. RYEIX charges 1.36%/yr vs 1.46%/yr for GAGEX.
Performance
RYEIX vs. GAGEX - Performance Comparison
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Returns By Period
In the year-to-date period, RYEIX achieves a 31.71% return, which is significantly lower than GAGEX's 36.50% return. Over the past 10 years, RYEIX has underperformed GAGEX with an annualized return of 6.75%, while GAGEX has yielded a comparatively higher 7.95% annualized return.
RYEIX
- 1D
- 1.42%
- 1M
- 7.58%
- 6M
- 16.11%
- YTD
- 31.71%
- 1Y
- 42.97%
- 3Y*
- 11.28%
- 5Y*
- 19.43%
- 10Y*
- 6.75%
- ALL TIME*
- 5.35%
GAGEX
- 1D
- 1.06%
- 1M
- 13.03%
- 6M
- 22.28%
- YTD
- 36.50%
- 1Y
- 48.02%
- 3Y*
- 15.93%
- 5Y*
- 20.40%
- 10Y*
- 7.95%
- ALL TIME*
- 7.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
RYEIX Rydex Energy Fund | $0.00 | $0.00 | $0.00 |
RYEIX vs. GAGEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYEIX Rydex Energy Fund | 31.71% | 6.96% | 0.49% | 1.87% | 49.54% | 50.70% | -34.24% | 6.50% | -25.31% | -6.17% |
GAGEX Guinness Atkinson Global Energy Fund | 36.50% | 16.88% | -1.75% | 2.66% | 34.32% | 45.96% | -34.12% | 10.45% | -18.96% | -1.04% |
Correlation
The correlation between RYEIX and GAGEX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2004 | 0.94 |
The correlation between RYEIX and GAGEX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
RYEIX vs. GAGEX — Risk / Return Rank
RYEIX
GAGEX
RYEIX vs. GAGEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Energy Fund (RYEIX) and Guinness Atkinson Global Energy Fund (GAGEX). 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.
| RYEIX | GAGEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.38 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 3.00 | +0.03 |
| Martin ratioReturn relative to average drawdown | 8.75 | 9.95 | -1.20 |
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Drawdowns
RYEIX vs. GAGEX - Drawdown Comparison
The maximum RYEIX drawdown since its inception was -83.50%, which is greater than GAGEX's maximum drawdown of -78.90%. Use the drawdown chart below to compare losses from any high point for RYEIX and GAGEX.
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Drawdown Indicators
| RYEIX | GAGEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.50% | -78.90% | -4.60% |
Max Drawdown (1Y)Largest decline over 1 year | -12.99% | -15.14% | +2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -26.94% | -23.67% | -3.27% |
Max Drawdown (5Y)Largest decline over 5 years | -26.94% | -26.42% | -0.52% |
Max Drawdown (10Y)Largest decline over 10 years | -74.93% | -69.98% | -4.95% |
Current DrawdownCurrent decline from peak | -5.80% | -3.00% | -2.80% |
Average DrawdownAverage peak-to-trough decline | -28.50% | -29.07% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | 4.56% | -0.06% |
Volatility
RYEIX vs. GAGEX - Volatility Comparison
The current volatility for Rydex Energy Fund (RYEIX) is 5.87%, while Guinness Atkinson Global Energy Fund (GAGEX) has a volatility of 6.58%. This indicates that RYEIX experiences smaller price fluctuations and is considered to be less risky than GAGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYEIX | GAGEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 6.58% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 15.55% | 16.12% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.09% | 19.52% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.13% | 23.58% | +2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.70% | 27.21% | +4.49% |
RYEIX vs. GAGEX - Expense Ratio Comparison
RYEIX has a 1.36% expense ratio, which is lower than GAGEX's 1.46% expense ratio.
Dividends
RYEIX vs. GAGEX - Dividend Comparison
RYEIX's dividend yield for the trailing twelve months is around 1.90%, less than GAGEX's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAGEX Guinness Atkinson Global Energy Fund | 2.07% | 2.82% | 7.08% | 4.33% | 0.15% | 2.59% | 3.59% | 1.91% | 1.72% | 1.40% | 1.13% | 1.33% |
RYEIX Rydex Energy Fund | 1.90% | 2.51% | 3.84% | 2.68% | 2.55% | 0.50% | 2.38% | 0.78% | 0.81% | 0.71% | 0.62% | 0.43% |
Frequently Asked Questions
With a correlation of 0.92, RYEIX and GAGEX 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.
GAGEX has higher volatility (6.58%) compared to RYEIX (5.87%). In terms of maximum drawdown, RYEIX dropped -83.50% vs GAGEX's -78.90%.
GAGEX currently has the higher Sharpe Ratio (2.33 vs 1.96), 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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