RYOCX vs. QQQ

Last updated Jun 23, 2026

RYOCX (Rydex NASDAQ-100 Fund Investor Class) and QQQ (Invesco QQQ ETF) are both funds - RYOCX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, RYOCX returned 21.06%/yr vs 22.48%/yr for QQQ. With a 0.98 correlation, they move nearly in lockstep. RYOCX charges 1.24%/yr vs 0.18%/yr for QQQ.

Performance

RYOCX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex NASDAQ-100 Fund Investor Class (RYOCX) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with RYOCX having a 20.12% return and QQQ slightly higher at 20.41%. Over the past 10 years, RYOCX has underperformed QQQ with an annualized return of 21.06%, while QQQ has yielded a comparatively higher 22.48% annualized return.

RYOCX

• 1D: 2.47%
• 1M: 3.11%
• YTD: 20.12%
• 6M: 19.09%
• 1Y: 39.80%
• 3Y*: 25.73%
• 5Y*: 16.12%
• 10Y*: 21.06%

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

RYOCX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYOCX Rydex NASDAQ-100 Fund Investor Class	20.12%	19.51%	24.34%	53.31%	-33.34%	25.85%	46.80%	40.33%	-1.36%	31.20%
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between RYOCX and QQQ 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	1.00
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 Mar 10, 1999	0.98

The correlation between RYOCX and QQQ has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

RYOCX vs. QQQ — Risk / Return Rank

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

RYOCX

RYOCX Risk / Return Rank: 65
RYOCX Sharpe Ratio Rank: 69
RYOCX Sortino Ratio Rank: 58
RYOCX Omega Ratio Rank: 59
RYOCX Calmar Ratio Rank: 74
RYOCX Martin Ratio Rank: 63

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

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.

RYOCX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex NASDAQ-100 Fund Investor Class (RYOCX) and Invesco QQQ ETF (QQQ). 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.

	RYOCX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.33	-0.11
Sortino ratio: Return per unit of downside risk	2.91	3.03	-0.12
Omega ratio: Gain probability vs. loss probability	1.39	1.41	-0.02
Calmar ratio: Return relative to maximum drawdown	3.20	3.44	-0.24
Martin ratio: Return relative to average drawdown	11.78	12.79	-1.01

RYOCX vs. QQQ - Sharpe Ratio Comparison

The current RYOCX Sharpe Ratio is 2.22, which is comparable to the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of RYOCX and QQQ, 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

RYOCX vs. QQQ - Drawdown Comparison

The maximum RYOCX drawdown since its inception was -83.75%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for RYOCX and QQQ.

Drawdown Indicators

	RYOCX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-83.75%	-82.97%	-0.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-11.96%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-22.97%	-22.77%	-0.20%
Max Drawdown (5Y) Largest decline over 5 years	-38.04%	-35.12%	-2.92%
Max Drawdown (10Y) Largest decline over 10 years	-38.04%	-35.12%	-2.92%
Current Drawdown Current decline from peak	-0.84%	-0.99%	+0.15%
Average Drawdown Average peak-to-trough decline	-31.84%	-32.73%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	3.21%	+0.13%

Volatility

RYOCX vs. QQQ - Volatility Comparison

Rydex NASDAQ-100 Fund Investor Class (RYOCX) and Invesco QQQ ETF (QQQ) have volatilities of 8.49% and 8.47%, 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

	RYOCX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	8.47%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	14.35%	14.20%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.71%	17.67%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.01%	22.64%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	22.43%	+0.31%

RYOCX vs. QQQ - Expense Ratio Comparison

RYOCX has a 1.24% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

RYOCX vs. QQQ - Dividend Comparison

RYOCX's dividend yield for the trailing twelve months is around 3.56%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.41%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
RYOCX Rydex NASDAQ-100 Fund Investor Class	3.56%	4.28%	7.23%	0.00%	8.82%	4.47%	4.17%	3.80%	1.86%	6.00%	1.75%	2.03%

Frequently Asked Questions

Can I hold both RYOCX and QQQ in my portfolio?

With a correlation of 1.00, RYOCX and QQQ 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, RYOCX or QQQ?

RYOCX has higher volatility (8.49%) compared to QQQ (8.47%). In terms of maximum drawdown, RYOCX dropped -83.75% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.33 vs 2.22), 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.