RYRUX vs. AVALX

Last updated Jun 23, 2026

RYRUX (Rydex Russell 2000 2x Strategy Fund) and AVALX (Aegis Value Fund) are both mutual funds - RYRUX is a Leveraged Equities fund managed by Rydex Funds, while AVALX is a Small Cap Value Equities fund managed by Aegis. Over the past 10 years, RYRUX returned 11.89%/yr vs 19.81%/yr for AVALX. A 0.70 correlation means they provide meaningful diversification when combined. RYRUX charges 1.86%/yr vs 1.50%/yr for AVALX.

Performance

RYRUX vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Russell 2000 2x Strategy Fund (RYRUX) and Aegis Value Fund (AVALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYRUX achieves a 38.55% return, which is significantly higher than AVALX's 14.52% return. Over the past 10 years, RYRUX has underperformed AVALX with an annualized return of 11.89%, while AVALX has yielded a comparatively higher 19.81% annualized return.

RYRUX

• 1D: 4.13%
• 1M: 7.19%
• YTD: 38.55%
• 6M: 30.34%
• 1Y: 84.15%
• 3Y*: 24.72%
• 5Y*: 2.91%
• 10Y*: 11.89%

AVALX

• 1D: -1.08%
• 1M: -4.84%
• YTD: 14.52%
• 6M: 14.42%
• 1Y: 48.95%
• 3Y*: 30.71%
• 5Y*: 21.59%
• 10Y*: 19.81%

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

RYRUX vs. AVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYRUX Rydex Russell 2000 2x Strategy Fund	38.55%	12.62%	10.94%	22.65%	-43.88%	20.72%	16.41%	47.20%	-26.63%	25.55%
AVALX Aegis Value Fund	14.52%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	17.37%

Correlation

The correlation between RYRUX and AVALX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.70

Over the past year, the correlation between RYRUX and AVALX has dropped to 0.50 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

RYRUX vs. AVALX — Risk / Return Rank

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

RYRUX

RYRUX Risk / Return Rank: 61
RYRUX Sharpe Ratio Rank: 62
RYRUX Sortino Ratio Rank: 48
RYRUX Omega Ratio Rank: 41
RYRUX Calmar Ratio Rank: 84
RYRUX Martin Ratio Rank: 71

AVALX

AVALX Risk / Return Rank: 87
AVALX Sharpe Ratio Rank: 89
AVALX Sortino Ratio Rank: 77
AVALX Omega Ratio Rank: 78
AVALX Calmar Ratio Rank: 96
AVALX Martin Ratio Rank: 94

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.

RYRUX vs. AVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Russell 2000 2x Strategy Fund (RYRUX) and Aegis Value Fund (AVALX). 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.

	RYRUX	AVALX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.71	-0.58
Sortino ratio: Return per unit of downside risk	2.69	3.35	-0.66
Omega ratio: Gain probability vs. loss probability	1.32	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	3.75	5.66	-1.91
Martin ratio: Return relative to average drawdown	12.71	19.05	-6.34

RYRUX vs. AVALX - Sharpe Ratio Comparison

The current RYRUX Sharpe Ratio is 2.13, which is comparable to the AVALX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of RYRUX and AVALX, 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

RYRUX vs. AVALX - Drawdown Comparison

The maximum RYRUX drawdown since its inception was -88.49%, which is greater than AVALX's maximum drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for RYRUX and AVALX.

Drawdown Indicators

	RYRUX	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-88.49%	-73.72%	-14.77%
Max Drawdown (1Y) Largest decline over 1 year	-22.39%	-8.32%	-14.07%
Max Drawdown (3Y) Largest decline over 3 years	-49.91%	-13.59%	-36.32%
Max Drawdown (5Y) Largest decline over 5 years	-62.41%	-32.00%	-30.41%
Max Drawdown (10Y) Largest decline over 10 years	-71.68%	-48.34%	-23.34%
Current Drawdown Current decline from peak	-1.85%	-6.67%	+4.82%
Average Drawdown Average peak-to-trough decline	-31.23%	-10.94%	-20.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.58%	2.50%	+4.08%

Volatility

RYRUX vs. AVALX - Volatility Comparison

Rydex Russell 2000 2x Strategy Fund (RYRUX) has a higher volatility of 13.58% compared to Aegis Value Fund (AVALX) at 5.49%. This indicates that RYRUX's price experiences larger fluctuations and is considered to be riskier than AVALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYRUX	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.58%	5.49%	+8.09%
Volatility (6M) Calculated over the trailing 6-month period	28.67%	13.30%	+15.37%
Volatility (1Y) Calculated over the trailing 1-year period	39.37%	17.44%	+21.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.29%	22.28%	+23.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.97%	22.17%	+24.80%

RYRUX vs. AVALX - Expense Ratio Comparison

RYRUX has a 1.86% expense ratio, which is higher than AVALX's 1.50% expense ratio.

Dividends

RYRUX vs. AVALX - Dividend Comparison

RYRUX's dividend yield for the trailing twelve months is around 2.65%, more than AVALX's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	2.04%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
RYRUX Rydex Russell 2000 2x Strategy Fund	2.65%	3.68%	2.93%	0.35%	0.00%	0.20%	0.00%	0.27%	0.00%	2.57%	0.00%	28.79%

Frequently Asked Questions

Can I hold both RYRUX and AVALX in my portfolio?

RYRUX and AVALX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYRUX or AVALX?

RYRUX has higher volatility (13.58%) compared to AVALX (5.49%). In terms of maximum drawdown, RYRUX dropped -88.49% vs AVALX's -73.72%.

Which has better risk-adjusted returns?

AVALX currently has the higher Sharpe Ratio (2.71 vs 2.13), 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.