RYKIX vs. BTO

Last updated Jun 23, 2026

RYKIX (Rydex Banking Fund) and BTO (John Hancock Financial Opportunities Fund) are both Financials Equities funds. Over the past 10 years, RYKIX returned 10.47%/yr vs 11.84%/yr for BTO. A 0.78 correlation means they provide meaningful diversification when combined. RYKIX charges 1.36%/yr vs 2.01%/yr for BTO.

Performance

RYKIX vs. BTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Banking Fund (RYKIX) and John Hancock Financial Opportunities Fund (BTO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYKIX achieves a 8.00% return, which is significantly lower than BTO's 11.07% return. Over the past 10 years, RYKIX has underperformed BTO with an annualized return of 10.47%, while BTO has yielded a comparatively higher 11.84% annualized return.

RYKIX

• 1D: -0.13%
• 1M: 5.38%
• YTD: 8.00%
• 6M: 5.90%
• 1Y: 31.28%
• 3Y*: 25.71%
• 5Y*: 9.24%
• 10Y*: 10.47%

BTO

• 1D: 1.10%
• 1M: 4.44%
• YTD: 11.07%
• 6M: 8.02%
• 1Y: 23.74%
• 3Y*: 23.18%
• 5Y*: 7.53%
• 10Y*: 11.84%

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

RYKIX vs. BTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYKIX Rydex Banking Fund	8.00%	23.92%	23.33%	2.95%	-16.81%	33.70%	-7.85%	28.51%	-19.19%	12.47%
BTO John Hancock Financial Opportunities Fund	11.07%	5.85%	28.92%	-1.16%	-23.58%	61.86%	-8.97%	38.87%	-25.68%	13.12%

Correlation

The correlation between RYKIX and BTO is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.78

The correlation between RYKIX and BTO has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

Return for Risk

RYKIX vs. BTO — Risk / Return Rank

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

RYKIX

RYKIX Risk / Return Rank: 35
RYKIX Sharpe Ratio Rank: 39
RYKIX Sortino Ratio Rank: 35
RYKIX Omega Ratio Rank: 37
RYKIX Calmar Ratio Rank: 34
RYKIX Martin Ratio Rank: 28

BTO

BTO Risk / Return Rank: 18
BTO Sharpe Ratio Rank: 19
BTO Sortino Ratio Rank: 18
BTO Omega Ratio Rank: 19
BTO Calmar Ratio Rank: 21
BTO Martin Ratio Rank: 15

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.

RYKIX vs. BTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Banking Fund (RYKIX) and John Hancock Financial Opportunities Fund (BTO). 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.

	RYKIX	BTO	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.15	+0.53
Sortino ratio: Return per unit of downside risk	2.30	1.67	+0.62
Omega ratio: Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio: Return relative to maximum drawdown	2.10	1.56	+0.54
Martin ratio: Return relative to average drawdown	6.07	3.87	+2.19

RYKIX vs. BTO - Sharpe Ratio Comparison

The current RYKIX Sharpe Ratio is 1.68, which is higher than the BTO Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of RYKIX and BTO, 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

RYKIX vs. BTO - Drawdown Comparison

The maximum RYKIX drawdown since its inception was -80.14%, which is greater than BTO's maximum drawdown of -72.27%. Use the drawdown chart below to compare losses from any high point for RYKIX and BTO.

Drawdown Indicators

	RYKIX	BTO	Difference
Max Drawdown Largest peak-to-trough decline	-80.14%	-72.27%	-7.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.25%	-15.26%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-23.79%	-25.19%	+1.40%
Max Drawdown (5Y) Largest decline over 5 years	-43.99%	-51.80%	+7.81%
Max Drawdown (10Y) Largest decline over 10 years	-51.08%	-65.70%	+14.62%
Current Drawdown Current decline from peak	-0.91%	-1.93%	+1.02%
Average Drawdown Average peak-to-trough decline	-27.41%	-18.98%	-8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	6.14%	-0.86%

Volatility

RYKIX vs. BTO - Volatility Comparison

Rydex Banking Fund (RYKIX) and John Hancock Financial Opportunities Fund (BTO) have volatilities of 5.45% and 5.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYKIX	BTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.45%	5.44%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	14.52%	15.18%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.14%	20.75%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	30.88%	-5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.03%	36.14%	-8.11%

RYKIX vs. BTO - Expense Ratio Comparison

RYKIX has a 1.36% expense ratio, which is lower than BTO's 2.01% expense ratio.

Dividends

RYKIX vs. BTO - Dividend Comparison

RYKIX's dividend yield for the trailing twelve months is around 3.08%, less than BTO's 6.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTO John Hancock Financial Opportunities Fund	6.92%	7.41%	7.28%	8.64%	7.51%	4.72%	7.25%	6.06%	5.94%	3.76%	5.10%	4.75%
RYKIX Rydex Banking Fund	3.08%	3.32%	3.29%	1.46%	3.11%	0.48%	2.90%	0.59%	2.32%	0.36%	0.41%	0.48%

Frequently Asked Questions

Can I hold both RYKIX and BTO in my portfolio?

RYKIX and BTO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYKIX or BTO?

RYKIX has higher volatility (5.45%) compared to BTO (5.44%). In terms of maximum drawdown, RYKIX dropped -80.14% vs BTO's -72.27%.

Which has better risk-adjusted returns?

RYKIX currently has the higher Sharpe Ratio (1.68 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.