RYNVX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Rydex Nova Fund (RYNVX) and S&P 500 Index (^GSPC).

RYNVX is managed by Rydex Funds. It was launched on Jul 11, 1993.

Performance

RYNVX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Nova Fund (RYNVX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

RYNVX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYNVX Rydex Nova Fund	-7.55%	21.42%	33.14%	35.31%	-29.96%	42.56%	19.64%	45.58%	-10.24%	31.17%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, RYNVX achieves a -7.55% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, RYNVX has outperformed ^GSPC with an annualized return of 16.69%, while ^GSPC has yielded a comparatively lower 12.24% annualized return.

RYNVX

• 1D: 4.35%
• 1M: -7.82%
• YTD: -7.55%
• 6M: -5.46%
• 1Y: 20.66%
• 3Y*: 22.42%
• 5Y*: 12.78%
• 10Y*: 16.69%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

RYNVX vs. ^GSPC — Risk / Return Rank

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

RYNVX

RYNVX Risk / Return Rank: 41
RYNVX Sharpe Ratio Rank: 31
RYNVX Sortino Ratio Rank: 35
RYNVX Omega Ratio Rank: 39
RYNVX Calmar Ratio Rank: 45
RYNVX Martin Ratio Rank: 53

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC 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.

RYNVX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Nova Fund (RYNVX) and S&P 500 Index (^GSPC). 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.

	RYNVX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.78	0.92	-0.14
Sortino ratio Return per unit of downside risk	1.26	1.41	-0.15
Omega ratio Gain probability vs. loss probability	1.19	1.21	-0.02
Calmar ratio Return relative to maximum drawdown	1.25	1.41	-0.17
Martin ratio Return relative to average drawdown	5.59	6.61	-1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYNVX vs. ^GSPC - Sharpe Ratio Comparison

The current RYNVX Sharpe Ratio is 0.78, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of RYNVX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RYNVX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	0.92	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.61	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.68	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.46	-0.07

Correlation

The correlation between RYNVX and ^GSPC is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

RYNVX vs. ^GSPC - Drawdown Comparison

The maximum RYNVX drawdown since its inception was -76.54%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for RYNVX and ^GSPC.

Drawdown Indicators

	RYNVX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-76.54%	-56.78%	-19.76%
Max Drawdown (1Y) Largest decline over 1 year	-17.91%	-12.14%	-5.77%
Max Drawdown (5Y) Largest decline over 5 years	-40.92%	-25.43%	-15.49%
Max Drawdown (10Y) Largest decline over 10 years	-48.58%	-33.92%	-14.66%
Current Drawdown Current decline from peak	-10.09%	-5.78%	-4.31%
Average Drawdown Average peak-to-trough decline	-19.72%	-10.75%	-8.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	2.60%	+1.39%

Volatility

RYNVX vs. ^GSPC - Volatility Comparison

Rydex Nova Fund (RYNVX) has a higher volatility of 8.01% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that RYNVX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYNVX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	5.37%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	14.28%	9.55%	+4.73%
Volatility (1Y) Calculated over the trailing 1-year period	27.47%	18.33%	+9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.96%	16.90%	+9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	18.05%	+9.31%