RYNVX vs. RYOIX

Last updated Jun 24, 2026

RYNVX (Rydex Nova Fund) and RYOIX (Rydex Biotechnology Fund) are both mutual funds - RYNVX is a Leveraged Equities fund managed by Rydex Funds, while RYOIX is a Health & Biotech Equities fund managed by Rydex Funds. Over the past 10 years, RYNVX returned 19.30%/yr vs 10.54%/yr for RYOIX. A 0.66 correlation means they provide meaningful diversification when combined. RYNVX charges 1.23%/yr vs 1.36%/yr for RYOIX.

Performance

RYNVX vs. RYOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Nova Fund (RYNVX) and Rydex Biotechnology Fund (RYOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYNVX achieves a 12.57% return, which is significantly higher than RYOIX's 11.45% return. Over the past 10 years, RYNVX has outperformed RYOIX with an annualized return of 19.30%, while RYOIX has yielded a comparatively lower 10.54% annualized return.

RYNVX

• 1D: -0.56%
• 1M: -0.33%
• YTD: 12.57%
• 6M: 10.96%
• 1Y: 34.48%
• 3Y*: 27.32%
• 5Y*: 15.43%
• 10Y*: 19.30%

RYOIX

• 1D: 2.06%
• 1M: 5.30%
• YTD: 11.45%
• 6M: 9.38%
• 1Y: 49.16%
• 3Y*: 15.68%
• 5Y*: 5.29%
• 10Y*: 10.54%

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

RYNVX vs. RYOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYNVX Rydex Nova Fund	12.57%	21.42%	33.14%	35.31%	-29.96%	42.56%	19.64%	45.58%	-10.24%	31.17%
RYOIX Rydex Biotechnology Fund	11.45%	30.62%	-0.95%	6.06%	-13.04%	2.05%	21.94%	30.69%	-8.94%	29.68%

Correlation

The correlation between RYNVX and RYOIX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.66

The correlation between RYNVX and RYOIX shifts across timeframes, from 0.46 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RYNVX vs. RYOIX — Risk / Return Rank

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

RYNVX

RYNVX Risk / Return Rank: 51
RYNVX Sharpe Ratio Rank: 52
RYNVX Sortino Ratio Rank: 44
RYNVX Omega Ratio Rank: 47
RYNVX Calmar Ratio Rank: 52
RYNVX Martin Ratio Rank: 62

RYOIX

RYOIX Risk / Return Rank: 84
RYOIX Sharpe Ratio Rank: 82
RYOIX Sortino Ratio Rank: 80
RYOIX Omega Ratio Rank: 64
RYOIX Calmar Ratio Rank: 96
RYOIX Martin Ratio Rank: 96

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. RYOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Nova Fund (RYNVX) and Rydex Biotechnology Fund (RYOIX). 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.

	RYNVX	RYOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.47	-0.52
Sortino ratio: Return per unit of downside risk	2.57	3.49	-0.92
Omega ratio: Gain probability vs. loss probability	1.34	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	2.64	5.80	-3.16
Martin ratio: Return relative to average drawdown	11.49	21.13	-9.65

RYNVX vs. RYOIX - Sharpe Ratio Comparison

The current RYNVX Sharpe Ratio is 1.95, which is comparable to the RYOIX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of RYNVX and RYOIX, 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

RYNVX vs. RYOIX - Drawdown Comparison

The maximum RYNVX drawdown since its inception was -76.54%, roughly equal to the maximum RYOIX drawdown of -74.43%. Use the drawdown chart below to compare losses from any high point for RYNVX and RYOIX.

Drawdown Indicators

	RYNVX	RYOIX	Difference
Max Drawdown Largest peak-to-trough decline	-76.54%	-74.43%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-8.43%	-5.41%
Max Drawdown (3Y) Largest decline over 3 years	-27.49%	-23.47%	-4.02%
Max Drawdown (5Y) Largest decline over 5 years	-40.92%	-33.66%	-7.26%
Max Drawdown (10Y) Largest decline over 10 years	-48.58%	-33.66%	-14.92%
Current Drawdown Current decline from peak	-2.95%	0.00%	-2.95%
Average Drawdown Average peak-to-trough decline	-19.60%	-27.59%	+7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	2.31%	+0.87%

Volatility

RYNVX vs. RYOIX - Volatility Comparison

Rydex Nova Fund (RYNVX) has a higher volatility of 7.09% compared to Rydex Biotechnology Fund (RYOIX) at 6.63%. This indicates that RYNVX's price experiences larger fluctuations and is considered to be riskier than RYOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYNVX	RYOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.09%	6.63%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	14.80%	15.35%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	19.83%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.09%	21.25%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.46%	23.23%	+4.23%

RYNVX vs. RYOIX - Expense Ratio Comparison

RYNVX has a 1.23% expense ratio, which is lower than RYOIX's 1.36% expense ratio.

Dividends

RYNVX vs. RYOIX - Dividend Comparison

RYNVX's dividend yield for the trailing twelve months is around 0.67%, less than RYOIX's 11.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYNVX Rydex Nova Fund	0.67%	0.76%	0.66%	0.59%	22.11%	9.07%	0.53%	0.00%	0.00%	1.97%	1.22%	0.13%
RYOIX Rydex Biotechnology Fund	11.28%	12.57%	14.61%	0.00%	1.29%	19.39%	7.28%	8.58%	14.11%	5.38%	0.00%	1.45%

Frequently Asked Questions

Can I hold both RYNVX and RYOIX in my portfolio?

RYNVX and RYOIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYNVX or RYOIX?

RYNVX has higher volatility (7.09%) compared to RYOIX (6.63%). In terms of maximum drawdown, RYNVX dropped -76.54% vs RYOIX's -74.43%.

Which has better risk-adjusted returns?

RYOIX currently has the higher Sharpe Ratio (2.47 vs 1.95), 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.