RYJSX vs. SMPIX

Last updated Jun 4, 2026

RYJSX (Rydex Japan 2x Strategy Fund) and SMPIX (ProFunds Semiconductor UltraSector Fund) are both Leveraged Equities funds. Over the past 10 years, RYJSX returned 15.51%/yr vs 48.03%/yr for SMPIX. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 1.49% expense ratio.

Performance

RYJSX vs. SMPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Japan 2x Strategy Fund (RYJSX) and ProFunds Semiconductor UltraSector Fund (SMPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYJSX achieves a 61.13% return, which is significantly lower than SMPIX's 82.09% return. Over the past 10 years, RYJSX has underperformed SMPIX with an annualized return of 15.51%, while SMPIX has yielded a comparatively higher 48.03% annualized return.

RYJSX

• 1D: 0.41%
• 1M: 23.21%
• YTD: 61.13%
• 6M: 60.11%
• 1Y: 129.24%
• 3Y*: 35.83%
• 5Y*: 11.23%
• 10Y*: 15.51%

SMPIX

• 1D: 3.58%
• 1M: 33.64%
• YTD: 82.09%
• 6M: 82.15%
• 1Y: 185.19%
• 3Y*: 89.91%
• 5Y*: 56.38%
• 10Y*: 48.03%

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

RYJSX vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYJSX Rydex Japan 2x Strategy Fund	61.13%	50.73%	1.56%	34.36%	-42.66%	-14.17%	40.76%	38.61%	-21.92%	50.94%
SMPIX ProFunds Semiconductor UltraSector Fund	82.09%	56.35%	81.41%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between RYJSX and SMPIX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 5, 2009	0.57

The correlation between RYJSX and SMPIX has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.

Return for Risk

RYJSX vs. SMPIX — Risk / Return Rank

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

RYJSX

RYJSX Risk / Return Rank: 64
RYJSX Sharpe Ratio Rank: 72
RYJSX Sortino Ratio Rank: 51
RYJSX Omega Ratio Rank: 45
RYJSX Calmar Ratio Rank: 85
RYJSX Martin Ratio Rank: 65

SMPIX

SMPIX Risk / Return Rank: 92
SMPIX Sharpe Ratio Rank: 99
SMPIX Sortino Ratio Rank: 85
SMPIX Omega Ratio Rank: 81
SMPIX Calmar Ratio Rank: 98
SMPIX Martin Ratio Rank: 97

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. SMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Japan 2x Strategy Fund (RYJSX) and ProFunds Semiconductor UltraSector Fund (SMPIX). 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.

	RYJSX	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	4.26	-1.77
Sortino ratio: Return per unit of downside risk	3.04	4.00	-0.97
Omega ratio: Gain probability vs. loss probability	1.37	1.54	-0.17
Calmar ratio: Return relative to maximum drawdown	4.04	8.74	-4.69
Martin ratio: Return relative to average drawdown	12.66	26.37	-13.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYJSX vs. SMPIX - Sharpe Ratio Comparison

The current RYJSX Sharpe Ratio is 2.49, which is lower than the SMPIX Sharpe Ratio of 4.26. The chart below compares the historical Sharpe Ratios of RYJSX and SMPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RYJSX	SMPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	4.26	-1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.17	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.20	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.09	+0.20

Drawdowns

RYJSX vs. SMPIX - Drawdown Comparison

The maximum RYJSX drawdown since its inception was -63.60%, smaller than the maximum SMPIX drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for RYJSX and SMPIX.

Drawdown Indicators

	RYJSX	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.60%	-94.09%	+30.49%
Max Drawdown (1Y) Largest decline over 1 year	-30.86%	-22.72%	-8.14%
Max Drawdown (3Y) Largest decline over 3 years	-40.80%	-94.09%	+53.29%
Max Drawdown (5Y) Largest decline over 5 years	-61.07%	-94.09%	+33.02%
Max Drawdown (10Y) Largest decline over 10 years	-63.60%	-94.09%	+30.49%
Current Drawdown Current decline from peak	0.00%	-70.37%	+70.37%
Average Drawdown Average peak-to-trough decline	-20.88%	-57.55%	+36.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.84%	7.51%	+2.33%

Volatility

RYJSX vs. SMPIX - Volatility Comparison

The current volatility for Rydex Japan 2x Strategy Fund (RYJSX) is 14.19%, while ProFunds Semiconductor UltraSector Fund (SMPIX) has a volatility of 15.52%. This indicates that RYJSX experiences smaller price fluctuations and is considered to be less risky than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYJSX	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.19%	15.52%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	39.70%	35.41%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	50.21%	46.69%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.59%	332.56%	-291.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.71%	237.19%	-199.48%

RYJSX vs. SMPIX - Expense Ratio Comparison

Both RYJSX and SMPIX have an expense ratio of 1.49%.

Dividends

RYJSX vs. SMPIX - Dividend Comparison

RYJSX's dividend yield for the trailing twelve months is around 0.69%, less than SMPIX's 7.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYJSX Rydex Japan 2x Strategy Fund	0.69%	1.11%	4.50%	5.86%	0.00%	0.00%	0.52%	0.85%	0.48%	3.24%	0.00%	0.00%
SMPIX ProFunds Semiconductor UltraSector Fund	7.15%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%

Frequently Asked Questions

Can I hold both RYJSX and SMPIX in my portfolio?

RYJSX and SMPIX have a correlation of 0.57, 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 SMPIX?

SMPIX has higher volatility (15.52%) compared to RYJSX (14.19%). In terms of maximum drawdown, RYJSX dropped -63.60% vs SMPIX's -94.09%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (4.26 vs 2.49), 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.