RYMKX vs. UAPIX

Last updated Jun 24, 2026

RYMKX (Rydex Russell 2000 1.5x Strategy Fund) and UAPIX (ProFunds UltraSmall Cap Fund) are both Leveraged Equities funds. Over the past 10 years, RYMKX returned 12.25%/yr vs 12.46%/yr for UAPIX. With a 0.99 correlation, they move nearly in lockstep. RYMKX charges 1.69%/yr vs 1.60%/yr for UAPIX.

Performance

RYMKX vs. UAPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Russell 2000 1.5x Strategy Fund (RYMKX) and ProFunds UltraSmall Cap Fund (UAPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYMKX achieves a 30.60% return, which is significantly lower than UAPIX's 41.12% return. Both investments have delivered pretty close results over the past 10 years, with RYMKX having a 12.25% annualized return and UAPIX not far ahead at 12.46%.

RYMKX

• 1D: 1.23%
• 1M: 6.87%
• YTD: 30.60%
• 6M: 26.04%
• 1Y: 60.98%
• 3Y*: 23.65%
• 5Y*: 4.19%
• 10Y*: 12.25%

UAPIX

• 1D: 1.61%
• 1M: 9.00%
• YTD: 41.12%
• 6M: 34.49%
• 1Y: 83.87%
• 3Y*: 27.77%
• 5Y*: 2.36%
• 10Y*: 12.46%

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

RYMKX vs. UAPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYMKX Rydex Russell 2000 1.5x Strategy Fund	30.60%	12.79%	11.00%	20.06%	-33.16%	16.62%	20.94%	35.38%	-19.62%	20.07%
UAPIX ProFunds UltraSmall Cap Fund	41.12%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%

Correlation

The correlation between RYMKX and UAPIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.99

The correlation between RYMKX and UAPIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

RYMKX vs. UAPIX — Risk / Return Rank

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

RYMKX

RYMKX Risk / Return Rank: 64
RYMKX Sharpe Ratio Rank: 64
RYMKX Sortino Ratio Rank: 53
RYMKX Omega Ratio Rank: 45
RYMKX Calmar Ratio Rank: 84
RYMKX Martin Ratio Rank: 73

UAPIX

UAPIX Risk / Return Rank: 66
UAPIX Sharpe Ratio Rank: 70
UAPIX Sortino Ratio Rank: 53
UAPIX Omega Ratio Rank: 44
UAPIX Calmar Ratio Rank: 86
UAPIX Martin Ratio Rank: 77

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.

RYMKX vs. UAPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Russell 2000 1.5x Strategy Fund (RYMKX) and ProFunds UltraSmall Cap Fund (UAPIX). 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.

	RYMKX	UAPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.25	-0.08
Sortino ratio: Return per unit of downside risk	2.82	2.80	+0.02
Omega ratio: Gain probability vs. loss probability	1.34	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	3.77	3.96	-0.19
Martin ratio: Return relative to average drawdown	13.02	13.47	-0.45

RYMKX vs. UAPIX - Sharpe Ratio Comparison

The current RYMKX Sharpe Ratio is 2.17, which is comparable to the UAPIX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of RYMKX and UAPIX, 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

RYMKX vs. UAPIX - Drawdown Comparison

The maximum RYMKX drawdown since its inception was -77.57%, smaller than the maximum UAPIX drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for RYMKX and UAPIX.

Drawdown Indicators

	RYMKX	UAPIX	Difference
Max Drawdown Largest peak-to-trough decline	-77.57%	-88.51%	+10.94%
Max Drawdown (1Y) Largest decline over 1 year	-16.96%	-22.32%	+5.36%
Max Drawdown (3Y) Largest decline over 3 years	-39.72%	-49.86%	+10.14%
Max Drawdown (5Y) Largest decline over 5 years	-63.65%	-61.82%	-1.83%
Max Drawdown (10Y) Largest decline over 10 years	-63.65%	-72.18%	+8.53%
Current Drawdown Current decline from peak	-18.47%	0.00%	-18.47%
Average Drawdown Average peak-to-trough decline	-23.35%	-35.98%	+12.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	6.55%	-1.65%

Volatility

RYMKX vs. UAPIX - Volatility Comparison

The current volatility for Rydex Russell 2000 1.5x Strategy Fund (RYMKX) is 9.67%, while ProFunds UltraSmall Cap Fund (UAPIX) has a volatility of 12.82%. This indicates that RYMKX experiences smaller price fluctuations and is considered to be less risky than UAPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYMKX	UAPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.67%	12.82%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	21.45%	28.58%	-7.13%
Volatility (1Y) Calculated over the trailing 1-year period	29.59%	39.46%	-9.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.53%	45.31%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.24%	46.63%	-5.39%

RYMKX vs. UAPIX - Expense Ratio Comparison

RYMKX has a 1.69% expense ratio, which is higher than UAPIX's 1.60% expense ratio.

Dividends

RYMKX vs. UAPIX - Dividend Comparison

RYMKX's dividend yield for the trailing twelve months is around 0.64%, more than UAPIX's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYMKX Rydex Russell 2000 1.5x Strategy Fund	0.64%	0.84%	1.30%	0.21%	0.00%	57.14%	0.29%	0.00%	0.00%	0.00%	9.87%	8.26%
UAPIX ProFunds UltraSmall Cap Fund	0.33%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RYMKX and UAPIX in my portfolio?

With a correlation of 1.00, RYMKX and UAPIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RYMKX or UAPIX?

UAPIX has higher volatility (12.82%) compared to RYMKX (9.67%). In terms of maximum drawdown, RYMKX dropped -77.57% vs UAPIX's -88.51%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (2.25 vs 2.17), 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.