RYGBX vs. RYIEX
RYGBX (Rydex Government Long Bond 1.2x Strategy Fund) and RYIEX (Rydex Emerging Markets Bond Strategy Fund) are both mutual funds - RYGBX is a Leveraged Bonds fund managed by Rydex Funds, while RYIEX is a Emerging Markets Bonds fund managed by Rydex Funds. Over the past 10 years, RYGBX returned -5.56%/yr vs 0.85%/yr for RYIEX. Their 0.42 correlation means their historical movements had little consistent relationship. RYGBX charges 0.99%/yr vs 1.61%/yr for RYIEX.
Performance
RYGBX vs. RYIEX - Performance Comparison
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Returns By Period
In the year-to-date period, RYGBX achieves a -5.72% return, which is significantly lower than RYIEX's -0.03% return. Over the past 10 years, RYGBX has underperformed RYIEX with an annualized return of -5.56%, while RYIEX has yielded a comparatively higher 0.85% annualized return.
RYGBX
- 1D
- 0.37%
- 1M
- -4.54%
- 6M
- -4.77%
- YTD
- -5.72%
- 1Y
- -5.07%
- 3Y*
- -4.57%
- 5Y*
- -13.47%
- 10Y*
- -5.56%
- ALL TIME*
- 1.18%
RYIEX
- 1D
- 0.40%
- 1M
- -1.09%
- 6M
- 0.34%
- YTD
- -0.03%
- 1Y
- 4.41%
- 3Y*
- 6.23%
- 5Y*
- -0.22%
- 10Y*
- 0.85%
- ALL TIME*
- -0.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RYGBX vs. RYIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYGBX Rydex Government Long Bond 1.2x Strategy Fund | -5.72% | 2.19% | -12.81% | -1.05% | -40.90% | -7.28% | 21.93% | 17.50% | -5.20% | 9.93% |
RYIEX Rydex Emerging Markets Bond Strategy Fund | -0.03% | 11.27% | 1.22% | 12.41% | -19.60% | -5.17% | 3.44% | 10.90% | -4.96% | 8.22% |
Correlation
The correlation between RYGBX and RYIEX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.42 |
Over the past year, RYGBX and RYIEX have become more correlated (0.76) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
RYGBX vs. RYIEX — Risk / Return Rank
RYGBX
RYIEX
RYGBX vs. RYIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Government Long Bond 1.2x Strategy Fund (RYGBX) and Rydex Emerging Markets Bond Strategy Fund (RYIEX). 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.
| RYGBX | RYIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.17 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 1.20 | -1.66 |
| Martin ratioReturn relative to average drawdown | -0.99 | 4.41 | -5.40 |
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Drawdowns
RYGBX vs. RYIEX - Drawdown Comparison
The maximum RYGBX drawdown since its inception was -62.42%, which is greater than RYIEX's maximum drawdown of -40.41%. Use the drawdown chart below to compare losses from any high point for RYGBX and RYIEX.
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Drawdown Indicators
| RYGBX | RYIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.42% | -40.41% | -22.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | -3.99% | -6.48% |
Max Drawdown (3Y)Largest decline over 3 years | -19.21% | -6.50% | -12.71% |
Max Drawdown (5Y)Largest decline over 5 years | -55.36% | -29.97% | -25.39% |
Max Drawdown (10Y)Largest decline over 10 years | -62.42% | -31.32% | -31.10% |
Current DrawdownCurrent decline from peak | -60.77% | -16.28% | -44.49% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -21.51% | +1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 1.08% | +3.76% |
Volatility
RYGBX vs. RYIEX - Volatility Comparison
Rydex Government Long Bond 1.2x Strategy Fund (RYGBX) has a higher volatility of 2.99% compared to Rydex Emerging Markets Bond Strategy Fund (RYIEX) at 1.41%. This indicates that RYGBX's price experiences larger fluctuations and is considered to be riskier than RYIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYGBX | RYIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 1.41% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 7.97% | 4.61% | +3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.78% | 5.29% | +5.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.53% | 9.27% | +10.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 9.28% | +9.90% |
RYGBX vs. RYIEX - Expense Ratio Comparison
RYGBX has a 0.99% expense ratio, which is lower than RYIEX's 1.61% expense ratio.
Dividends
RYGBX vs. RYIEX - Dividend Comparison
RYGBX's dividend yield for the trailing twelve months is around 3.73%, more than RYIEX's 1.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYGBX Rydex Government Long Bond 1.2x Strategy Fund | 3.73% | 3.59% | 2.89% | 2.70% | 1.69% | 0.71% | 46.47% | 5.00% | 1.51% | 1.45% | 5.62% | 2.07% |
RYIEX Rydex Emerging Markets Bond Strategy Fund | 1.78% | 1.78% | 7.29% | 10.00% | 0.00% | 0.00% | 1.13% | 8.51% | 0.00% | 0.24% | 5.44% | 4.49% |
Frequently Asked Questions
RYGBX and RYIEX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYGBX has higher volatility (2.99%) compared to RYIEX (1.41%). In terms of maximum drawdown, RYGBX dropped -62.42% vs RYIEX's -40.41%.
RYIEX currently has the higher Sharpe Ratio (0.91 vs -0.45), 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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