RYMQX vs. ARBIX

Last updated Jun 24, 2026

RYMQX (Guggenheim Series Multi-Hedge Strategies Fund) and ARBIX (Absolute Convertible Arbitrage Fund Institutional Shares) are both Multistrategy funds. Over the past 5 years, RYMQX returned 0.48%/yr vs 5.39%/yr for ARBIX. At a 0.19 correlation, their price movements are largely independent. RYMQX charges 1.76%/yr vs 1.47%/yr for ARBIX.

Performance

RYMQX vs. ARBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guggenheim Series Multi-Hedge Strategies Fund (RYMQX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RYMQX having a 5.08% return and ARBIX slightly lower at 5.04%.

RYMQX

• 1D: 0.42%
• 1M: 0.21%
• YTD: 5.08%
• 6M: 4.53%
• 1Y: 9.12%
• 3Y*: 1.55%
• 5Y*: 0.48%
• 10Y*: 2.20%

ARBIX

• 1D: 0.08%
• 1M: 0.92%
• YTD: 5.04%
• 6M: 5.12%
• 1Y: 9.83%
• 3Y*: 7.84%
• 5Y*: 5.39%
• 10Y*: —

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

RYMQX vs. ARBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYMQX Guggenheim Series Multi-Hedge Strategies Fund	5.08%	1.58%	-3.59%	4.26%	-3.47%	7.17%	7.40%	4.79%	-4.66%	3.10%
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	5.04%	8.29%	7.53%	5.30%	-0.53%	2.95%	9.28%	6.38%	2.07%	8,411.75%

Correlation

The correlation between RYMQX and ARBIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Aug 7, 2017	0.19

The correlation between RYMQX and ARBIX shifts across timeframes, from 0.16 (3 years) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RYMQX vs. ARBIX — Risk / Return Rank

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

RYMQX

RYMQX Risk / Return Rank: 78
RYMQX Sharpe Ratio Rank: 69
RYMQX Sortino Ratio Rank: 77
RYMQX Omega Ratio Rank: 75
RYMQX Calmar Ratio Rank: 88
RYMQX Martin Ratio Rank: 81

ARBIX

ARBIX Risk / Return Rank: 100
ARBIX Sharpe Ratio Rank: 100
ARBIX Sortino Ratio Rank: 100
ARBIX Omega Ratio Rank: 99
ARBIX Calmar Ratio Rank: 100
ARBIX Martin Ratio Rank: 100

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.

RYMQX vs. ARBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guggenheim Series Multi-Hedge Strategies Fund (RYMQX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). 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.

	RYMQX	ARBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	8.00	-5.76
Sortino ratio: Return per unit of downside risk	3.37	15.13	-11.76
Omega ratio: Gain probability vs. loss probability	1.45	3.91	-2.46
Calmar ratio: Return relative to maximum drawdown	4.16	19.29	-15.13
Martin ratio: Return relative to average drawdown	14.12	111.90	-97.78

RYMQX vs. ARBIX - Sharpe Ratio Comparison

The current RYMQX Sharpe Ratio is 2.24, which is lower than the ARBIX Sharpe Ratio of 8.00. The chart below compares the historical Sharpe Ratios of RYMQX and ARBIX, 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

RYMQX vs. ARBIX - Drawdown Comparison

The maximum RYMQX drawdown since its inception was -29.13%, which is greater than ARBIX's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for RYMQX and ARBIX.

Drawdown Indicators

	RYMQX	ARBIX	Difference
Max Drawdown Largest peak-to-trough decline	-29.13%	-4.31%	-24.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.22%	-0.51%	-1.71%
Max Drawdown (3Y) Largest decline over 3 years	-13.98%	-1.77%	-12.21%
Max Drawdown (5Y) Largest decline over 5 years	-13.98%	-4.02%	-9.96%
Max Drawdown (10Y) Largest decline over 10 years	-13.98%	—	—
Current Drawdown Current decline from peak	-2.48%	0.00%	-2.48%
Average Drawdown Average peak-to-trough decline	-8.87%	-0.39%	-8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.09%	+0.56%

Volatility

RYMQX vs. ARBIX - Volatility Comparison

Guggenheim Series Multi-Hedge Strategies Fund (RYMQX) has a higher volatility of 0.92% compared to Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) at 0.39%. This indicates that RYMQX's price experiences larger fluctuations and is considered to be riskier than ARBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYMQX	ARBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.39%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	3.33%	0.92%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	1.24%	+2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.65%	1.84%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.29%	736.32%	-731.03%

RYMQX vs. ARBIX - Expense Ratio Comparison

RYMQX has a 1.76% expense ratio, which is higher than ARBIX's 1.47% expense ratio.

Dividends

RYMQX vs. ARBIX - Dividend Comparison

RYMQX's dividend yield for the trailing twelve months is around 9.64%, more than ARBIX's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	5.08%	5.34%	4.87%	3.62%	3.33%	3.12%	2.92%	2.83%	1.97%	0.24%	0.00%
RYMQX Guggenheim Series Multi-Hedge Strategies Fund	9.64%	10.13%	2.89%	3.12%	1.67%	0.78%	1.03%	2.10%	0.16%	0.00%	0.15%

Frequently Asked Questions

Can I hold both RYMQX and ARBIX in my portfolio?

RYMQX and ARBIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYMQX or ARBIX?

RYMQX has higher volatility (0.92%) compared to ARBIX (0.39%). In terms of maximum drawdown, RYMQX dropped -29.13% vs ARBIX's -4.31%.

Which has better risk-adjusted returns?

ARBIX currently has the higher Sharpe Ratio (8.00 vs 2.24), 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.