RYIEX vs. RMQAX

Last updated Jun 24, 2026

RYIEX (Rydex Emerging Markets Bond Strategy Fund) and RMQAX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund) are both mutual funds - RYIEX is a Emerging Markets Bonds fund managed by Rydex Funds, while RMQAX is a Leveraged Equities fund managed by Rydex Funds. Over the past 10 years, RYIEX returned 1.33%/yr vs 38.76%/yr for RMQAX. At a 0.41 correlation, their price movements are largely independent. RYIEX charges 1.61%/yr vs 1.32%/yr for RMQAX.

Performance

RYIEX vs. RMQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Emerging Markets Bond Strategy Fund (RYIEX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYIEX achieves a 0.85% return, which is significantly lower than RMQAX's 37.04% return. Over the past 10 years, RYIEX has underperformed RMQAX with an annualized return of 1.33%, while RMQAX has yielded a comparatively higher 38.76% annualized return.

RYIEX

• 1D: -0.33%
• 1M: 1.55%
• YTD: 0.85%
• 6M: 1.07%
• 1Y: 7.63%
• 3Y*: 6.93%
• 5Y*: 0.11%
• 10Y*: 1.33%

RMQAX

• 1D: -0.39%
• 1M: 5.17%
• YTD: 37.04%
• 6M: 33.32%
• 1Y: 76.67%
• 3Y*: 47.95%
• 5Y*: 24.14%
• 10Y*: 38.76%

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

RYIEX vs. RMQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYIEX Rydex Emerging Markets Bond Strategy Fund	0.85%	11.27%	1.22%	12.41%	-19.60%	-5.17%	3.44%	10.90%	-4.96%	8.22%
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	37.04%	33.92%	44.76%	115.91%	-59.93%	56.36%	101.06%	80.80%	-7.28%	69.80%

Correlation

The correlation between RYIEX and RMQAX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.41

Return for Risk

RYIEX vs. RMQAX — Risk / Return Rank

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

RYIEX

RYIEX Risk / Return Rank: 34
RYIEX Sharpe Ratio Rank: 33
RYIEX Sortino Ratio Rank: 35
RYIEX Omega Ratio Rank: 34
RYIEX Calmar Ratio Rank: 32
RYIEX Martin Ratio Rank: 39

RMQAX

RMQAX Risk / Return Rank: 62
RMQAX Sharpe Ratio Rank: 72
RMQAX Sortino Ratio Rank: 50
RMQAX Omega Ratio Rank: 52
RMQAX Calmar Ratio Rank: 75
RMQAX Martin Ratio Rank: 61

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.

RYIEX vs. RMQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Emerging Markets Bond Strategy Fund (RYIEX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX). 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.

	RYIEX	RMQAX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.27	-0.75
Sortino ratio: Return per unit of downside risk	2.26	2.72	-0.46
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	2.02	3.24	-1.22
Martin ratio: Return relative to average drawdown	7.96	11.40	-3.44

RYIEX vs. RMQAX - Sharpe Ratio Comparison

The current RYIEX Sharpe Ratio is 1.52, which is lower than the RMQAX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of RYIEX and RMQAX, 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

RYIEX vs. RMQAX - Drawdown Comparison

The maximum RYIEX drawdown since its inception was -40.41%, smaller than the maximum RMQAX drawdown of -63.18%. Use the drawdown chart below to compare losses from any high point for RYIEX and RMQAX.

Drawdown Indicators

	RYIEX	RMQAX	Difference
Max Drawdown Largest peak-to-trough decline	-40.41%	-63.18%	+22.77%
Max Drawdown (1Y) Largest decline over 1 year	-3.99%	-24.96%	+20.97%
Max Drawdown (3Y) Largest decline over 3 years	-7.27%	-42.45%	+35.18%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-63.18%	+33.21%
Max Drawdown (10Y) Largest decline over 10 years	-31.32%	-63.18%	+31.86%
Current Drawdown Current decline from peak	-15.54%	-2.21%	-13.33%
Average Drawdown Average peak-to-trough decline	-21.56%	-12.87%	-8.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	7.07%	-6.06%

Volatility

RYIEX vs. RMQAX - Volatility Comparison

The current volatility for Rydex Emerging Markets Bond Strategy Fund (RYIEX) is 1.75%, while Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) has a volatility of 17.06%. This indicates that RYIEX experiences smaller price fluctuations and is considered to be less risky than RMQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYIEX	RMQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	17.06%	-15.31%
Volatility (6M) Calculated over the trailing 6-month period	4.45%	28.56%	-24.11%
Volatility (1Y) Calculated over the trailing 1-year period	5.32%	35.62%	-30.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.26%	46.68%	-37.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.30%	46.68%	-37.38%

RYIEX vs. RMQAX - Expense Ratio Comparison

RYIEX has a 1.61% expense ratio, which is higher than RMQAX's 1.32% expense ratio.

Dividends

RYIEX vs. RMQAX - Dividend Comparison

RYIEX's dividend yield for the trailing twelve months is around 1.77%, less than RMQAX's 26.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	26.47%	36.27%	26.02%	3.76%	0.00%	2.18%	5.30%	0.10%	0.00%	0.00%	0.00%	0.00%
RYIEX Rydex Emerging Markets Bond Strategy Fund	1.77%	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

Can I hold both RYIEX and RMQAX in my portfolio?

RYIEX and RMQAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYIEX or RMQAX?

RMQAX has higher volatility (17.06%) compared to RYIEX (1.75%). In terms of maximum drawdown, RYIEX dropped -40.41% vs RMQAX's -63.18%.

Which has better risk-adjusted returns?

RMQAX currently has the higher Sharpe Ratio (2.27 vs 1.52), 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.