RYOIX vs. FBIOX

Last updated Jun 24, 2026

RYOIX (Rydex Biotechnology Fund) and FBIOX (Fidelity Select Biotechnology Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, RYOIX returned 10.54%/yr vs 11.69%/yr for FBIOX. With a 0.96 correlation, they move nearly in lockstep. RYOIX charges 1.36%/yr vs 0.69%/yr for FBIOX.

Performance

RYOIX vs. FBIOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Biotechnology Fund (RYOIX) and Fidelity Select Biotechnology Portfolio (FBIOX). 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 RYOIX having a 11.45% return and FBIOX slightly lower at 11.03%. Over the past 10 years, RYOIX has underperformed FBIOX with an annualized return of 10.54%, while FBIOX has yielded a comparatively higher 11.69% annualized return.

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%

FBIOX

• 1D: 2.80%
• 1M: 6.82%
• YTD: 11.03%
• 6M: 8.61%
• 1Y: 58.91%
• 3Y*: 20.04%
• 5Y*: 6.76%
• 10Y*: 11.69%

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

RYOIX vs. FBIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYOIX Rydex Biotechnology Fund	11.45%	30.62%	-0.95%	6.06%	-13.04%	2.05%	21.94%	30.69%	-8.94%	29.68%
FBIOX Fidelity Select Biotechnology Portfolio	11.03%	36.38%	7.26%	10.09%	-15.87%	-12.26%	38.62%	36.12%	-10.92%	27.87%

Correlation

The correlation between RYOIX and FBIOX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.96

The correlation between RYOIX and FBIOX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

RYOIX vs. FBIOX — Risk / Return Rank

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

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

FBIOX

FBIOX Risk / Return Rank: 88
FBIOX Sharpe Ratio Rank: 90
FBIOX Sortino Ratio Rank: 84
FBIOX Omega Ratio Rank: 73
FBIOX Calmar Ratio Rank: 98
FBIOX Martin Ratio Rank: 97

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.

RYOIX vs. FBIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Biotechnology Fund (RYOIX) and Fidelity Select Biotechnology Portfolio (FBIOX). 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.

	RYOIX	FBIOX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.74	-0.27
Sortino ratio: Return per unit of downside risk	3.49	3.65	-0.16
Omega ratio: Gain probability vs. loss probability	1.41	1.44	-0.03
Calmar ratio: Return relative to maximum drawdown	5.80	7.66	-1.86
Martin ratio: Return relative to average drawdown	21.13	23.32	-2.19

RYOIX vs. FBIOX - Sharpe Ratio Comparison

The current RYOIX Sharpe Ratio is 2.47, which is comparable to the FBIOX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of RYOIX and FBIOX, 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

RYOIX vs. FBIOX - Drawdown Comparison

The maximum RYOIX drawdown since its inception was -74.43%, roughly equal to the maximum FBIOX drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for RYOIX and FBIOX.

Drawdown Indicators

	RYOIX	FBIOX	Difference
Max Drawdown Largest peak-to-trough decline	-74.43%	-71.98%	-2.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-7.62%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-23.47%	-27.83%	+4.36%
Max Drawdown (5Y) Largest decline over 5 years	-33.66%	-44.87%	+11.21%
Max Drawdown (10Y) Largest decline over 10 years	-33.66%	-48.66%	+15.00%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-27.59%	-23.60%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.50%	-0.19%

Volatility

RYOIX vs. FBIOX - Volatility Comparison

The current volatility for Rydex Biotechnology Fund (RYOIX) is 6.63%, while Fidelity Select Biotechnology Portfolio (FBIOX) has a volatility of 8.04%. This indicates that RYOIX experiences smaller price fluctuations and is considered to be less risky than FBIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYOIX	FBIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	8.04%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	15.35%	17.08%	-1.73%
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	21.36%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	25.03%	-3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	26.26%	-3.03%

RYOIX vs. FBIOX - Expense Ratio Comparison

RYOIX has a 1.36% expense ratio, which is higher than FBIOX's 0.69% expense ratio.

Dividends

RYOIX vs. FBIOX - Dividend Comparison

RYOIX's dividend yield for the trailing twelve months is around 11.28%, more than FBIOX's 6.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBIOX Fidelity Select Biotechnology Portfolio	6.06%	2.47%	1.21%	0.45%	0.00%	14.48%	19.46%	8.89%	11.18%	1.41%	3.42%	6.71%
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 RYOIX and FBIOX in my portfolio?

With a correlation of 0.93, RYOIX and FBIOX 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, RYOIX or FBIOX?

FBIOX has higher volatility (8.04%) compared to RYOIX (6.63%). In terms of maximum drawdown, RYOIX dropped -74.43% vs FBIOX's -71.98%.

Which has better risk-adjusted returns?

FBIOX currently has the higher Sharpe Ratio (2.74 vs 2.47), 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.