RYSEX vs. RYVVX

Last updated Jun 23, 2026

RYSEX (Royce Special Equity Fund) and RYVVX (Rydex S&P 500 Pure Value Fund) are both mutual funds - RYSEX is a Small Cap Value Equities fund managed by Royce Investment Partners, while RYVVX is a Large Cap Value Equities fund managed by Rydex Funds. Over the past 10 years, RYSEX returned 9.03%/yr vs 8.41%/yr for RYVVX. Their correlation of 0.81 suggests significant overlap in exposure. RYSEX charges 1.20%/yr vs 2.26%/yr for RYVVX.

Performance

RYSEX vs. RYVVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Special Equity Fund (RYSEX) and Rydex S&P 500 Pure Value Fund (RYVVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYSEX achieves a 21.03% return, which is significantly higher than RYVVX's 8.60% return. Over the past 10 years, RYSEX has outperformed RYVVX with an annualized return of 9.03%, while RYVVX has yielded a comparatively lower 8.41% annualized return.

RYSEX

• 1D: 0.59%
• 1M: 6.12%
• YTD: 21.03%
• 6M: 18.91%
• 1Y: 36.70%
• 3Y*: 11.09%
• 5Y*: 8.29%
• 10Y*: 9.03%

RYVVX

• 1D: -0.50%
• 1M: -0.01%
• YTD: 8.60%
• 6M: 8.01%
• 1Y: 22.07%
• 3Y*: 13.71%
• 5Y*: 8.78%
• 10Y*: 8.41%

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

RYSEX vs. RYVVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYSEX Royce Special Equity Fund	21.03%	3.66%	2.93%	12.96%	-6.60%	22.24%	7.43%	12.73%	-9.96%	7.13%
RYVVX Rydex S&P 500 Pure Value Fund	8.60%	15.67%	9.88%	5.72%	-3.31%	31.12%	-10.98%	22.34%	-13.91%	15.07%

Correlation

The correlation between RYSEX and RYVVX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 3, 2005	0.81

The correlation between RYSEX and RYVVX shifts across timeframes, from 0.65 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RYSEX vs. RYVVX — Risk / Return Rank

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

RYSEX

RYSEX Risk / Return Rank: 83
RYSEX Sharpe Ratio Rank: 84
RYSEX Sortino Ratio Rank: 86
RYSEX Omega Ratio Rank: 73
RYSEX Calmar Ratio Rank: 91
RYSEX Martin Ratio Rank: 82

RYVVX

RYVVX Risk / Return Rank: 47
RYVVX Sharpe Ratio Rank: 43
RYVVX Sortino Ratio Rank: 45
RYVVX Omega Ratio Rank: 38
RYVVX Calmar Ratio Rank: 60
RYVVX Martin Ratio Rank: 49

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.

RYSEX vs. RYVVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Special Equity Fund (RYSEX) and Rydex S&P 500 Pure Value Fund (RYVVX). 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.

	RYSEX	RYVVX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.78	+0.73
Sortino ratio: Return per unit of downside risk	3.81	2.59	+1.22
Omega ratio: Gain probability vs. loss probability	1.44	1.31	+0.13
Calmar ratio: Return relative to maximum drawdown	4.46	2.85	+1.61
Martin ratio: Return relative to average drawdown	14.12	9.49	+4.63

RYSEX vs. RYVVX - Sharpe Ratio Comparison

The current RYSEX Sharpe Ratio is 2.51, which is higher than the RYVVX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of RYSEX and RYVVX, 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

RYSEX vs. RYVVX - Drawdown Comparison

The maximum RYSEX drawdown since its inception was -43.25%, smaller than the maximum RYVVX drawdown of -82.48%. Use the drawdown chart below to compare losses from any high point for RYSEX and RYVVX.

Drawdown Indicators

	RYSEX	RYVVX	Difference
Max Drawdown Largest peak-to-trough decline	-43.25%	-82.48%	+39.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-7.95%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-23.03%	-15.85%	-7.18%
Max Drawdown (5Y) Largest decline over 5 years	-23.03%	-23.78%	+0.75%
Max Drawdown (10Y) Largest decline over 10 years	-32.13%	-51.41%	+19.28%
Current Drawdown Current decline from peak	-1.34%	-3.70%	+2.36%
Average Drawdown Average peak-to-trough decline	-6.34%	-16.93%	+10.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.38%	+0.21%

Volatility

RYSEX vs. RYVVX - Volatility Comparison

Royce Special Equity Fund (RYSEX) has a higher volatility of 4.06% compared to Rydex S&P 500 Pure Value Fund (RYVVX) at 3.53%. This indicates that RYSEX's price experiences larger fluctuations and is considered to be riskier than RYVVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYSEX	RYVVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	3.53%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	8.67%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	12.72%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.39%	17.78%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	21.88%	-4.45%

RYSEX vs. RYVVX - Expense Ratio Comparison

RYSEX has a 1.20% expense ratio, which is lower than RYVVX's 2.26% expense ratio.

Dividends

RYSEX vs. RYVVX - Dividend Comparison

RYSEX's dividend yield for the trailing twelve months is around 10.21%, more than RYVVX's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYSEX Royce Special Equity Fund	10.21%	12.36%	16.35%	5.32%	12.34%	16.53%	3.70%	11.56%	13.11%	8.24%	7.72%	11.68%
RYVVX Rydex S&P 500 Pure Value Fund	0.23%	0.25%	1.16%	2.24%	2.86%	2.87%	1.13%	1.17%	10.39%	1.30%	1.04%	9.15%

Frequently Asked Questions

Can I hold both RYSEX and RYVVX in my portfolio?

RYSEX and RYVVX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYSEX or RYVVX?

RYSEX has higher volatility (4.06%) compared to RYVVX (3.53%). In terms of maximum drawdown, RYSEX dropped -43.25% vs RYVVX's -82.48%.

Which has better risk-adjusted returns?

RYSEX currently has the higher Sharpe Ratio (2.51 vs 1.78), 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.