RYIEX vs. RYGBX
RYIEX (Rydex Emerging Markets Bond Strategy Fund) and RYGBX (Rydex Government Long Bond 1.2x Strategy Fund) are both mutual funds - RYIEX is a Emerging Markets Bonds fund managed by Rydex Funds, while RYGBX is a Leveraged Bonds fund managed by Rydex Funds. Over the past 10 years, RYIEX returned 0.87%/yr vs -5.69%/yr for RYGBX. Their 0.42 correlation means their historical movements had little consistent relationship. RYIEX charges 1.61%/yr vs 0.99%/yr for RYGBX.
Performance
RYIEX vs. RYGBX - Performance Comparison
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Returns By Period
In the year-to-date period, RYIEX achieves a -0.30% return, which is significantly higher than RYGBX's -5.29% return. Over the past 10 years, RYIEX has outperformed RYGBX with an annualized return of 0.87%, while RYGBX has yielded a comparatively lower -5.69% annualized return.
RYIEX
- 1D
- 0.22%
- 1M
- -1.36%
- 6M
- 0.08%
- YTD
- -0.30%
- 1Y
- 4.49%
- 3Y*
- 5.80%
- 5Y*
- -0.23%
- 10Y*
- 0.87%
- ALL TIME*
- -0.88%
RYGBX
- 1D
- -0.13%
- 1M
- -4.11%
- 6M
- -4.50%
- YTD
- -5.29%
- 1Y
- -4.35%
- 3Y*
- -5.78%
- 5Y*
- -13.13%
- 10Y*
- -5.69%
- ALL TIME*
- 1.19%
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 |
RYIEX vs. RYGBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYIEX Rydex Emerging Markets Bond Strategy Fund | -0.30% | 11.27% | 1.22% | 12.41% | -19.60% | -5.17% | 3.44% | 10.90% | -4.96% | 8.22% |
RYGBX Rydex Government Long Bond 1.2x Strategy Fund | -5.29% | 2.19% | -12.81% | -1.05% | -40.90% | -7.28% | 21.93% | 17.50% | -5.20% | 9.93% |
Correlation
The correlation between RYIEX and RYGBX 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, RYIEX and RYGBX 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
RYIEX vs. RYGBX — Risk / Return Rank
RYIEX
RYGBX
RYIEX vs. RYGBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Emerging Markets Bond Strategy Fund (RYIEX) 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.
| RYIEX | RYGBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.97 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | -0.25 | +1.52 |
| Martin ratioReturn relative to average drawdown | 4.74 | -0.52 | +5.25 |
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Drawdowns
RYIEX vs. RYGBX - Drawdown Comparison
The maximum RYIEX drawdown since its inception was -40.41%, smaller than the maximum RYGBX drawdown of -62.42%. Use the drawdown chart below to compare losses from any high point for RYIEX and RYGBX.
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Drawdown Indicators
| RYIEX | RYGBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.41% | -62.42% | +22.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -9.88% | +5.89% |
Max Drawdown (3Y)Largest decline over 3 years | -6.50% | -19.21% | +12.71% |
Max Drawdown (5Y)Largest decline over 5 years | -29.97% | -55.36% | +25.39% |
Max Drawdown (10Y)Largest decline over 10 years | -31.32% | -62.42% | +31.10% |
Current DrawdownCurrent decline from peak | -16.51% | -60.60% | +44.09% |
Average DrawdownAverage peak-to-trough decline | -21.51% | -19.71% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 4.75% | -3.68% |
Volatility
RYIEX vs. RYGBX - Volatility Comparison
The current volatility for Rydex Emerging Markets Bond Strategy Fund (RYIEX) is 1.34%, while Rydex Government Long Bond 1.2x Strategy Fund (RYGBX) has a volatility of 2.93%. This indicates that RYIEX experiences smaller price fluctuations and is considered to be less risky than RYGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYIEX | RYGBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 2.93% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 4.59% | 7.92% | -3.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.30% | 10.87% | -5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.27% | 19.54% | -10.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 19.19% | -9.91% |
RYIEX vs. RYGBX - Expense Ratio Comparison
RYIEX has a 1.61% expense ratio, which is higher than RYGBX's 0.99% expense ratio.
Dividends
RYIEX vs. RYGBX - Dividend Comparison
RYIEX's dividend yield for the trailing twelve months is around 1.79%, less than RYGBX's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYGBX Rydex Government Long Bond 1.2x Strategy Fund | 3.71% | 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 | 1.79% | 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
RYIEX and RYGBX 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 (2.93%) compared to RYIEX (1.34%). In terms of maximum drawdown, RYIEX dropped -40.41% vs RYGBX's -62.42%.
RYIEX currently has the higher Sharpe Ratio (0.96 vs -0.23), 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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