RYJSX vs. RYTPX

Last updated Jul 17, 2026

RYJSX (Rydex Japan 2x Strategy Fund) and RYTPX (Rydex Inverse S&P 500 2x Strategy Fund) are both mutual funds - RYJSX is a Leveraged Equities fund managed by Rydex Funds, while RYTPX is a Inverse Equities fund managed by Rydex Funds. Over the past 10 years, RYJSX returned 14.34%/yr vs -16.85%/yr for RYTPX. At a correlation of -0.67, they often move in opposite directions. RYJSX charges 1.49%/yr vs 2.16%/yr for RYTPX.

Performance

RYJSX vs. RYTPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Japan 2x Strategy Fund (RYJSX) and Rydex Inverse S&P 500 2x Strategy Fund (RYTPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYJSX achieves a 53.96% return, which is significantly higher than RYTPX's -16.58% return. Over the past 10 years, RYJSX has outperformed RYTPX with an annualized return of 14.34%, while RYTPX has yielded a comparatively lower -16.85% annualized return.

RYJSX

• 1D: -1.16%
• 1M: -6.99%
• 6M: 38.39%
• YTD: 53.96%
• 1Y: 113.04%
• 3Y*: 32.76%
• 5Y*: 12.05%
• 10Y*: 14.34%

RYTPX

• 1D: -0.55%
• 1M: -0.98%
• 6M: -14.37%
• YTD: -16.58%
• 1Y: -28.26%
• 3Y*: -26.57%
• 5Y*: -21.48%
• 10Y*: -16.85%

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

RYJSX vs. RYTPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYJSX Rydex Japan 2x Strategy Fund	53.96%	50.73%	1.56%	34.36%	-42.66%	-14.17%	40.76%	38.61%	-21.92%	50.94%
RYTPX Rydex Inverse S&P 500 2x Strategy Fund	-16.58%	-27.24%	-29.24%	-31.96%	29.31%	-43.38%	-50.05%	-41.84%	4.42%	-32.54%

Correlation

The correlation between RYJSX and RYTPX is -0.71, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.71
Correlation (3Y) Calculated over the trailing 3-year period	-0.68
Correlation (5Y) Calculated over the trailing 5-year period	-0.69
Correlation (10Y) Calculated over the trailing 10-year period	-0.69
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	-0.67

The correlation between RYJSX and RYTPX has been stable across timeframes, ranging from -0.71 to -0.67 - a consistent structural relationship.

Return for Risk

RYJSX vs. RYTPX — Risk / Return Rank

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

RYJSX

RYJSX Risk / Return Rank: 73
RYJSX Sharpe Ratio Rank: 78
RYJSX Sortino Ratio Rank: 63
RYJSX Omega Ratio Rank: 56
RYJSX Calmar Ratio Rank: 90
RYJSX Martin Ratio Rank: 77

RYTPX

RYTPX Risk / Return Rank: 0
RYTPX Sharpe Ratio Rank: 0
RYTPX Sortino Ratio Rank: 0
RYTPX Omega Ratio Rank: 0
RYTPX Calmar Ratio Rank: 0
RYTPX Martin Ratio Rank: 0

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.

RYJSX vs. RYTPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Japan 2x Strategy Fund (RYJSX) and Rydex Inverse S&P 500 2x Strategy Fund (RYTPX). 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.

	RYJSX	RYTPX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	-1.15	+3.23
Sortino ratio: Return per unit of downside risk	2.57	-1.70	+4.27
Omega ratio: Gain probability vs. loss probability	1.32	0.81	+0.51
Calmar ratio: Return relative to maximum drawdown	3.76	-0.96	+4.72
Martin ratio: Return relative to average drawdown	11.29	-1.68	+12.96

RYJSX vs. RYTPX - Sharpe Ratio Comparison

The current RYJSX Sharpe Ratio is 2.08, which is higher than the RYTPX Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of RYJSX and RYTPX, 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

RYJSX vs. RYTPX - Drawdown Comparison

The maximum RYJSX drawdown since its inception was -63.60%, smaller than the maximum RYTPX drawdown of -99.92%. Use the drawdown chart below to compare losses from any high point for RYJSX and RYTPX.

Drawdown Indicators

	RYJSX	RYTPX	Difference
Max Drawdown Largest peak-to-trough decline	-63.60%	-99.92%	+36.32%
Max Drawdown (1Y) Largest decline over 1 year	-30.86%	-29.99%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	-40.80%	-68.03%	+27.23%
Max Drawdown (5Y) Largest decline over 5 years	-61.07%	-75.66%	+14.59%
Max Drawdown (10Y) Largest decline over 10 years	-63.60%	-96.13%	+32.53%
Current Drawdown Current decline from peak	-15.48%	-99.92%	+84.44%
Average Drawdown Average peak-to-trough decline	-20.79%	-82.37%	+61.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.25%	17.12%	-6.87%

Volatility

RYJSX vs. RYTPX - Volatility Comparison

Rydex Japan 2x Strategy Fund (RYJSX) has a higher volatility of 21.46% compared to Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) at 7.25%. This indicates that RYJSX's price experiences larger fluctuations and is considered to be riskier than RYTPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYJSX	RYTPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.46%	7.25%	+14.21%
Volatility (6M) Calculated over the trailing 6-month period	46.65%	19.98%	+26.67%
Volatility (1Y) Calculated over the trailing 1-year period	55.74%	25.07%	+30.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.11%	33.96%	+8.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.38%	257.92%	-219.54%

RYJSX vs. RYTPX - Expense Ratio Comparison

RYJSX has a 1.49% expense ratio, which is lower than RYTPX's 2.16% expense ratio.

Dividends

RYJSX vs. RYTPX - Dividend Comparison

RYJSX's dividend yield for the trailing twelve months is around 0.72%, less than RYTPX's 6.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYJSX Rydex Japan 2x Strategy Fund	0.72%	1.11%	4.50%	5.86%	0.00%	0.00%	0.52%	0.85%	0.48%	3.24%
RYTPX Rydex Inverse S&P 500 2x Strategy Fund	6.17%	5.15%	6.90%	3.35%	0.00%	0.00%	0.00%	0.23%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RYJSX and RYTPX in my portfolio?

RYJSX and RYTPX have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYJSX or RYTPX?

RYJSX has higher volatility (21.46%) compared to RYTPX (7.25%). In terms of maximum drawdown, RYJSX dropped -63.60% vs RYTPX's -99.92%.

Which has better risk-adjusted returns?

RYJSX currently has the higher Sharpe Ratio (2.08 vs -1.15), 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.