RYOIX vs. RYAIX

Last updated Aug 1, 2026

RYOIX (Rydex Biotechnology Fund) and RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) are both mutual funds - RYOIX is a Health & Biotech Equities fund managed by Rydex Funds, while RYAIX is a Inverse Equities fund managed by Rydex Funds. Over the past 10 years, RYOIX returned 9.33%/yr vs -18.03%/yr for RYAIX. Their -0.66 correlation means they have often moved in opposite directions in the past. RYOIX charges 1.36%/yr vs 1.55%/yr for RYAIX.

Performance

RYOIX vs. RYAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Biotechnology Fund (RYOIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYOIX achieves a 18.33% return, which is significantly higher than RYAIX's -9.23% return. Over the past 10 years, RYOIX has outperformed RYAIX with an annualized return of 9.33%, while RYAIX has yielded a comparatively lower -18.03% annualized return.

RYOIX

• 1D: 0.50%
• 1M: -3.93%
• 6M: 15.89%
• YTD: 18.33%
• 1Y: 50.09%
• 3Y*: 18.00%
• 5Y*: 6.19%
• 10Y*: 9.33%
• ALL TIME*: 10.91%

RYAIX

• 1D: -3.29%
• 1M: 5.63%
• 6M: -8.48%
• YTD: -9.23%
• 1Y: -16.78%
• 3Y*: -14.70%
• 5Y*: -11.60%
• 10Y*: -18.03%
• ALL TIME*: -14.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	$0.00	$0.00	$0.00
RYOIX Rydex Biotechnology Fund	$0.00	$0.00	$0.00

RYOIX vs. RYAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYOIX Rydex Biotechnology Fund	18.33%	30.62%	-0.95%	6.06%	-13.04%	2.05%	21.94%	30.69%	-8.94%	29.68%
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	-9.23%	-15.63%	-15.64%	-31.71%	35.92%	-24.88%	-40.98%	-27.65%	-2.63%	-24.47%

Correlation

The correlation between RYOIX and RYAIX is -0.31, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.31
Correlation (3Y) Balances recent behavior with more history.	-0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.54
Correlation (10Y) Provides a long-term view across more market conditions.	-0.59
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	-0.66

Over the past year, the inverse relationship between RYOIX and RYAIX has weakened: their correlation has moved from -0.66 to -0.31, meaning they move in opposite directions less often than they have historically.

Return for Risk

RYOIX vs. RYAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RYOIX

RYOIX Risk / Return Rank: 93
RYOIX Sharpe Ratio Rank: 94
RYOIX Sortino Ratio Rank: 92
RYOIX Omega Ratio Rank: 85
RYOIX Calmar Ratio Rank: 98
RYOIX Martin Ratio Rank: 97

RYAIX

RYAIX Risk / Return Rank: 1
RYAIX Sharpe Ratio Rank: 1
RYAIX Sortino Ratio Rank: 1
RYAIX Omega Ratio Rank: 1
RYAIX Calmar Ratio Rank: 1
RYAIX Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RYOIX vs. RYAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Biotechnology Fund (RYOIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). 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	RYAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	-0.75	+3.26
Sortino ratio: Return per unit of downside risk	3.54	-1.00	+4.53
Omega ratio: Gain probability vs. loss probability	1.41	0.89	+0.52
Calmar ratio: Return relative to maximum drawdown	5.92	-0.57	+6.49
Martin ratio: Return relative to average drawdown	19.14	-1.12	+20.26

RYOIX vs. RYAIX - Sharpe Ratio Comparison

The current RYOIX Sharpe Ratio is 2.52, which is higher than the RYAIX Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of RYOIX and RYAIX, 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. RYAIX - Drawdown Comparison

The maximum RYOIX drawdown since its inception was -74.43%, smaller than the maximum RYAIX drawdown of -98.93%. Use the drawdown chart below to compare losses from any high point for RYOIX and RYAIX.

Drawdown Indicators

	RYOIX	RYAIX	Difference
Max Drawdown Largest peak-to-trough decline	-74.43%	-98.93%	+24.50%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-25.47%	+17.04%
Max Drawdown (3Y) Largest decline over 3 years	-23.47%	-50.13%	+26.66%
Max Drawdown (5Y) Largest decline over 5 years	-33.66%	-61.15%	+27.49%
Max Drawdown (10Y) Largest decline over 10 years	-33.66%	-87.73%	+54.07%
Current Drawdown Current decline from peak	-4.80%	-98.82%	+94.02%
Average Drawdown Average peak-to-trough decline	-27.49%	-73.43%	+45.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	12.97%	-10.37%

Volatility

RYOIX vs. RYAIX - Volatility Comparison

The current volatility for Rydex Biotechnology Fund (RYOIX) is 5.73%, while Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) has a volatility of 7.09%. This indicates that RYOIX experiences smaller price fluctuations and is considered to be less risky than RYAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYOIX	RYAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	7.09%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	15.28%	16.22%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	19.84%	19.55%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.32%	23.36%	-2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.13%	22.86%	+0.27%

RYOIX vs. RYAIX - Expense Ratio Comparison

RYOIX has a 1.36% expense ratio, which is lower than RYAIX's 1.55% expense ratio.

Dividends

RYOIX vs. RYAIX - Dividend Comparison

RYOIX's dividend yield for the trailing twelve months is around 10.62%, more than RYAIX's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	2.46%	2.23%	5.67%	4.81%	0.00%	0.00%	0.09%	0.72%	0.00%	0.00%	0.00%	0.00%
RYOIX Rydex Biotechnology Fund	10.62%	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 RYAIX in my portfolio?

RYOIX and RYAIX have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYOIX or RYAIX?

RYAIX has higher volatility (7.09%) compared to RYOIX (5.73%). In terms of maximum drawdown, RYOIX dropped -74.43% vs RYAIX's -98.93%.

Which has better risk-adjusted returns?

RYOIX currently has the higher Sharpe Ratio (2.52 vs -0.75), 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.