RYRUX vs. XMMO

Last updated Aug 1, 2026

RYRUX (Rydex Russell 2000 2x Strategy Fund) and XMMO (Invesco S&P MidCap Momentum ETF) are both funds - RYRUX is a Leveraged Equities fund managed by Rydex Funds, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Over the past 10 years, RYRUX returned 10.46%/yr vs 18.04%/yr for XMMO. Their correlation of 0.85 means they have usually moved in the same direction. RYRUX charges 1.86%/yr vs 0.35%/yr for XMMO.

Performance

RYRUX vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Russell 2000 2x Strategy Fund (RYRUX) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYRUX achieves a 34.42% return, which is significantly higher than XMMO's 11.79% return. Over the past 10 years, RYRUX has underperformed XMMO with an annualized return of 10.46%, while XMMO has yielded a comparatively higher 18.04% annualized return.

RYRUX

• 1D: 2.71%
• 1M: -3.87%
• 6M: 21.97%
• YTD: 34.42%
• 1Y: 70.85%
• 3Y*: 18.51%
• 5Y*: 2.59%
• 10Y*: 10.46%
• ALL TIME*: 7.55%

XMMO

• 1D: 0.22%
• 1M: -5.42%
• 6M: 10.34%
• YTD: 11.79%
• 1Y: 20.56%
• 3Y*: 23.81%
• 5Y*: 13.41%
• 10Y*: 18.04%
• ALL TIME*: 12.11%

*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)
RYRUX Rydex Russell 2000 2x Strategy Fund	$0.00	$0.00	$0.00
XMMO Invesco S&P MidCap Momentum ETF	$60.32M	$71.93M	$66.65M

RYRUX vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYRUX Rydex Russell 2000 2x Strategy Fund	34.42%	12.62%	10.94%	22.65%	-43.88%	20.72%	16.41%	47.20%	-26.63%	25.55%
XMMO Invesco S&P MidCap Momentum ETF	11.79%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between RYRUX and XMMO is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.85

The correlation between RYRUX and XMMO has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

RYRUX vs. XMMO — Risk / Return Rank

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

RYRUX

RYRUX Risk / Return Rank: 65
RYRUX Sharpe Ratio Rank: 63
RYRUX Sortino Ratio Rank: 58
RYRUX Omega Ratio Rank: 49
RYRUX Calmar Ratio Rank: 80
RYRUX Martin Ratio Rank: 73

XMMO

XMMO Risk / Return Rank: 39
XMMO Sharpe Ratio Rank: 36
XMMO Sortino Ratio Rank: 36
XMMO Omega Ratio Rank: 35
XMMO Calmar Ratio Rank: 39
XMMO Martin Ratio Rank: 50

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.

RYRUX vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Russell 2000 2x Strategy Fund (RYRUX) and Invesco S&P MidCap Momentum ETF (XMMO). 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	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	1.57	0.89	+0.68
Sortino ratio: Return per unit of downside risk	2.19	1.35	+0.84
Omega ratio: Gain probability vs. loss probability	1.26	1.17	+0.09
Calmar ratio: Return relative to maximum drawdown	2.73	1.38	+1.35
Martin ratio: Return relative to average drawdown	9.27	5.81	+3.46

RYRUX vs. XMMO - Sharpe Ratio Comparison

The current RYRUX Sharpe Ratio is 1.57, which is higher than the XMMO Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of RYRUX and XMMO, 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. XMMO - Drawdown Comparison

The maximum RYRUX drawdown since its inception was -88.49%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for RYRUX and XMMO.

Drawdown Indicators

	RYRUX	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-88.49%	-55.37%	-33.12%
Max Drawdown (1Y) Largest decline over 1 year	-22.39%	-13.91%	-8.48%
Max Drawdown (3Y) Largest decline over 3 years	-49.91%	-24.93%	-24.98%
Max Drawdown (5Y) Largest decline over 5 years	-62.41%	-27.91%	-34.50%
Max Drawdown (10Y) Largest decline over 10 years	-71.68%	-36.74%	-34.94%
Current Drawdown Current decline from peak	-5.74%	-11.24%	+5.50%
Average Drawdown Average peak-to-trough decline	-31.07%	-9.42%	-21.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.58%	3.29%	+3.29%

Volatility

RYRUX vs. XMMO - Volatility Comparison

Rydex Russell 2000 2x Strategy Fund (RYRUX) and Invesco S&P MidCap Momentum ETF (XMMO) have volatilities of 7.62% and 7.88%, 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

	RYRUX	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	7.88%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	28.24%	18.46%	+9.78%
Volatility (1Y) Calculated over the trailing 1-year period	38.80%	21.50%	+17.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.04%	21.86%	+23.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.81%	22.43%	+24.38%

RYRUX vs. XMMO - Expense Ratio Comparison

RYRUX has a 1.86% expense ratio, which is higher than XMMO's 0.35% expense ratio.

Dividends

RYRUX vs. XMMO - Dividend Comparison

RYRUX's dividend yield for the trailing twelve months is around 2.74%, more than XMMO's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYRUX Rydex Russell 2000 2x Strategy Fund	2.74%	3.68%	2.93%	0.35%	0.00%	0.20%	0.00%	0.27%	0.00%	2.57%	0.00%	28.79%
XMMO Invesco S&P MidCap Momentum ETF	0.63%	0.78%	0.34%	0.80%	1.43%	0.41%	0.61%	0.60%	0.19%	0.21%	0.22%	0.64%

Frequently Asked Questions

Can I hold both RYRUX and XMMO in my portfolio?

RYRUX and XMMO have a correlation of 0.81, 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 XMMO?

XMMO has higher volatility (7.88%) compared to RYRUX (7.62%). In terms of maximum drawdown, RYRUX dropped -88.49% vs XMMO's -55.37%.

Which has better risk-adjusted returns?

RYRUX currently has the higher Sharpe Ratio (1.57 vs 0.89), 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.