RYHDX vs. CRDOX

Last updated Aug 1, 2026

RYHDX (Rydex High Yield Strategy Fund) and CRDOX (Six Circles Credit Opportunities Fund) are both High Yield Bonds funds. Over the past 5 years, RYHDX returned 3.06%/yr vs 3.02%/yr for CRDOX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. RYHDX charges 1.53%/yr vs 0.29%/yr for CRDOX.

Performance

RYHDX vs. CRDOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex High Yield Strategy Fund (RYHDX) and Six Circles Credit Opportunities Fund (CRDOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYHDX achieves a -0.60% return, which is significantly lower than CRDOX's 1.94% return.

RYHDX

• 1D: 0.34%
• 1M: -0.76%
• 6M: -0.75%
• YTD: -0.60%
• 1Y: 3.47%
• 3Y*: 7.70%
• 5Y*: 3.06%
• 10Y*: 3.76%
• ALL TIME*: 5.00%

CRDOX

• 1D: -0.05%
• 1M: -0.61%
• 6M: 1.19%
• YTD: 1.94%
• 1Y: 5.75%
• 3Y*: 7.49%
• 5Y*: 3.02%
• 10Y*: —
• ALL TIME*: 3.27%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRDOX Six Circles Credit Opportunities Fund	$0.00	$0.00	$0.00
RYHDX Rydex High Yield Strategy Fund	$0.00	$0.00	$0.00

RYHDX vs. CRDOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RYHDX Rydex High Yield Strategy Fund	-0.60%	10.43%	6.65%	12.85%	-11.62%	1.56%	2.72%
CRDOX Six Circles Credit Opportunities Fund	1.94%	7.48%	8.69%	8.06%	-10.62%	2.66%	1.71%

Correlation

The correlation between RYHDX and CRDOX is 0.65, 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.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Nov 23, 2020	0.59

The correlation between RYHDX and CRDOX has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.

Return for Risk

RYHDX vs. CRDOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RYHDX

RYHDX Risk / Return Rank: 19
RYHDX Sharpe Ratio Rank: 18
RYHDX Sortino Ratio Rank: 18
RYHDX Omega Ratio Rank: 19
RYHDX Calmar Ratio Rank: 17
RYHDX Martin Ratio Rank: 24

CRDOX

CRDOX Risk / Return Rank: 80
CRDOX Sharpe Ratio Rank: 84
CRDOX Sortino Ratio Rank: 87
CRDOX Omega Ratio Rank: 88
CRDOX Calmar Ratio Rank: 65
CRDOX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RYHDX vs. CRDOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex High Yield Strategy Fund (RYHDX) and Six Circles Credit Opportunities Fund (CRDOX). 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.

	RYHDX	CRDOX	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.01	-1.28
Sortino ratio: Return per unit of downside risk	1.08	3.21	-2.13
Omega ratio: Gain probability vs. loss probability	1.14	1.46	-0.32
Calmar ratio: Return relative to maximum drawdown	0.89	2.14	-1.25
Martin ratio: Return relative to average drawdown	3.53	9.24	-5.71

RYHDX vs. CRDOX - Sharpe Ratio Comparison

The current RYHDX Sharpe Ratio is 0.73, which is lower than the CRDOX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of RYHDX and CRDOX, 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

RYHDX vs. CRDOX - Drawdown Comparison

The maximum RYHDX drawdown since its inception was -23.28%, which is greater than CRDOX's maximum drawdown of -15.92%. Use the drawdown chart below to compare losses from any high point for RYHDX and CRDOX.

Drawdown Indicators

	RYHDX	CRDOX	Difference
Max Drawdown Largest peak-to-trough decline	-23.28%	-15.92%	-7.36%
Max Drawdown (1Y) Largest decline over 1 year	-4.25%	-2.70%	-1.55%
Max Drawdown (3Y) Largest decline over 3 years	-5.01%	-4.66%	-0.35%
Max Drawdown (5Y) Largest decline over 5 years	-19.09%	-15.92%	-3.17%
Max Drawdown (10Y) Largest decline over 10 years	-19.75%	—	—
Current Drawdown Current decline from peak	-1.22%	-0.83%	-0.39%
Average Drawdown Average peak-to-trough decline	-3.29%	-3.43%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.62%	+0.45%

Volatility

RYHDX vs. CRDOX - Volatility Comparison

Rydex High Yield Strategy Fund (RYHDX) has a higher volatility of 1.27% compared to Six Circles Credit Opportunities Fund (CRDOX) at 0.58%. This indicates that RYHDX's price experiences larger fluctuations and is considered to be riskier than CRDOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYHDX	CRDOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	0.58%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	4.50%	2.33%	+2.17%
Volatility (1Y) Calculated over the trailing 1-year period	5.20%	2.88%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.77%	4.15%	+3.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.15%	3.98%	+4.17%

RYHDX vs. CRDOX - Expense Ratio Comparison

RYHDX has a 1.53% expense ratio, which is higher than CRDOX's 0.29% expense ratio.

Dividends

RYHDX vs. CRDOX - Dividend Comparison

RYHDX's dividend yield for the trailing twelve months is around 9.61%, more than CRDOX's 6.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRDOX Six Circles Credit Opportunities Fund	6.57%	5.18%	6.96%	6.86%	5.82%	2.73%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%
RYHDX Rydex High Yield Strategy Fund	9.61%	9.55%	7.31%	4.02%	0.32%	0.00%	0.00%	4.41%	3.50%	8.53%	1.93%	3.99%

Frequently Asked Questions

Can I hold both RYHDX and CRDOX in my portfolio?

RYHDX and CRDOX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYHDX or CRDOX?

RYHDX has higher volatility (1.27%) compared to CRDOX (0.58%). In terms of maximum drawdown, RYHDX dropped -23.28% vs CRDOX's -15.92%.

Which has better risk-adjusted returns?

CRDOX currently has the higher Sharpe Ratio (2.01 vs 0.73), 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.