RYEUX vs. RYGBX

Last updated Jul 14, 2026

RYEUX (Rydex Europe 1.25x Strategy Fund) and RYGBX (Rydex Government Long Bond 1.2x Strategy Fund) are both mutual funds - RYEUX is a Leveraged Equities fund managed by Rydex Funds, while RYGBX is a Leveraged Bonds fund managed by Rydex Funds. Over the past 10 years, RYEUX returned 8.84%/yr vs -5.44%/yr for RYGBX. At a correlation of -0.20, they often move in opposite directions. RYEUX charges 1.69%/yr vs 0.99%/yr for RYGBX.

Performance

RYEUX vs. RYGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Europe 1.25x Strategy Fund (RYEUX) and Rydex Government Long Bond 1.2x Strategy Fund (RYGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYEUX achieves a 8.38% return, which is significantly higher than RYGBX's -2.70% return. Over the past 10 years, RYEUX has outperformed RYGBX with an annualized return of 8.84%, while RYGBX has yielded a comparatively lower -5.44% annualized return.

RYEUX

• 1D: -0.01%
• 1M: 0.50%
• 6M: 3.72%
• YTD: 8.38%
• 1Y: 18.68%
• 3Y*: 14.17%
• 5Y*: 8.70%
• 10Y*: 8.84%

RYGBX

• 1D: -0.01%
• 1M: -1.41%
• 6M: -2.55%
• YTD: -2.70%
• 1Y: 1.35%
• 3Y*: -4.78%
• 5Y*: -12.20%
• 10Y*: -5.44%

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

RYEUX vs. RYGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYEUX Rydex Europe 1.25x Strategy Fund	8.38%	32.95%	-2.61%	19.53%	-12.87%	18.73%	0.35%	29.80%	-18.72%	28.14%
RYGBX Rydex Government Long Bond 1.2x Strategy Fund	-2.70%	2.19%	-12.81%	-1.05%	-40.90%	-7.28%	21.93%	17.50%	-5.20%	9.93%

Correlation

The correlation between RYEUX and RYGBX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	-0.20

The correlation between RYEUX and RYGBX shifts across timeframes, from -0.20 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RYEUX vs. RYGBX — Risk / Return Rank

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

RYEUX

RYEUX Risk / Return Rank: 18
RYEUX Sharpe Ratio Rank: 16
RYEUX Sortino Ratio Rank: 18
RYEUX Omega Ratio Rank: 17
RYEUX Calmar Ratio Rank: 18
RYEUX Martin Ratio Rank: 20

RYGBX

RYGBX Risk / Return Rank: 3
RYGBX Sharpe Ratio Rank: 3
RYGBX Sortino Ratio Rank: 3
RYGBX Omega Ratio Rank: 3
RYGBX Calmar Ratio Rank: 3
RYGBX Martin Ratio Rank: 3

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.

RYEUX vs. RYGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Europe 1.25x Strategy Fund (RYEUX) and Rydex Government Long Bond 1.2x Strategy Fund (RYGBX). 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.

	RYEUX	RYGBX	Difference
Sharpe ratio: Return per unit of total volatility	0.84	-0.03	+0.88
Sortino ratio: Return per unit of downside risk	1.31	0.03	+1.29
Omega ratio: Gain probability vs. loss probability	1.16	1.00	+0.15
Calmar ratio: Return relative to maximum drawdown	1.12	-0.04	+1.16
Martin ratio: Return relative to average drawdown	3.73	-0.09	+3.82

RYEUX vs. RYGBX - Sharpe Ratio Comparison

The current RYEUX Sharpe Ratio is 0.84, which is higher than the RYGBX Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of RYEUX and RYGBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RYEUX vs. RYGBX - Drawdown Comparison

The maximum RYEUX drawdown since its inception was -76.19%, which is greater than RYGBX's maximum drawdown of -62.42%. Use the drawdown chart below to compare losses from any high point for RYEUX and RYGBX.

Drawdown Indicators

	RYEUX	RYGBX	Difference
Max Drawdown Largest peak-to-trough decline	-76.19%	-62.42%	-13.77%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-9.88%	-5.36%
Max Drawdown (3Y) Largest decline over 3 years	-18.54%	-22.92%	+4.38%
Max Drawdown (5Y) Largest decline over 5 years	-33.39%	-55.36%	+21.97%
Max Drawdown (10Y) Largest decline over 10 years	-42.08%	-62.42%	+20.34%
Current Drawdown Current decline from peak	-2.06%	-59.52%	+57.46%
Average Drawdown Average peak-to-trough decline	-37.19%	-19.64%	-17.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	4.33%	+0.26%

Volatility

RYEUX vs. RYGBX - Volatility Comparison

Rydex Europe 1.25x Strategy Fund (RYEUX) has a higher volatility of 6.29% compared to Rydex Government Long Bond 1.2x Strategy Fund (RYGBX) at 3.26%. This indicates that RYEUX's price experiences larger fluctuations and is considered to be riskier than RYGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYEUX	RYGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	3.26%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	17.28%	7.91%	+9.37%
Volatility (1Y) Calculated over the trailing 1-year period	20.23%	11.02%	+9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.13%	19.62%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.08%	19.22%	+2.86%

RYEUX vs. RYGBX - Expense Ratio Comparison

RYEUX has a 1.69% expense ratio, which is higher than RYGBX's 0.99% expense ratio.

Dividends

RYEUX vs. RYGBX - Dividend Comparison

RYEUX's dividend yield for the trailing twelve months is around 5.49%, more than RYGBX's 3.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYEUX Rydex Europe 1.25x Strategy Fund	5.49%	5.95%	12.32%	0.67%	0.00%	0.00%	5.03%	0.46%	8.58%	0.25%	0.91%	0.15%
RYGBX Rydex Government Long Bond 1.2x Strategy Fund	3.95%	3.59%	2.89%	2.70%	1.69%	0.71%	46.47%	5.00%	1.51%	1.45%	5.62%	2.07%

Frequently Asked Questions

Can I hold both RYEUX and RYGBX in my portfolio?

RYEUX and RYGBX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYEUX or RYGBX?

RYEUX has higher volatility (6.29%) compared to RYGBX (3.26%). In terms of maximum drawdown, RYEUX dropped -76.19% vs RYGBX's -62.42%.

Which has better risk-adjusted returns?

RYEUX currently has the higher Sharpe Ratio (0.84 vs -0.03), 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.