RYSOX vs. RMQAX

Last updated Jun 5, 2026

RYSOX (Rydex S&P 500 Fund) and RMQAX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund) are both mutual funds - RYSOX is a S&P 500 fund tracking the S&P 500 Index, while RMQAX is a Leveraged Equities fund managed by Rydex Funds. Over the past 10 years, RYSOX returned 13.62%/yr vs 37.54%/yr for RMQAX. Their correlation of 0.91 suggests significant overlap in exposure. RYSOX charges 1.56%/yr vs 1.32%/yr for RMQAX.

Performance

RYSOX vs. RMQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex S&P 500 Fund (RYSOX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYSOX achieves a 10.12% return, which is significantly lower than RMQAX's 39.33% return. Over the past 10 years, RYSOX has underperformed RMQAX with an annualized return of 13.62%, while RMQAX has yielded a comparatively higher 37.54% annualized return.

RYSOX

• 1D: -0.73%
• 1M: 4.05%
• YTD: 10.12%
• 6M: 9.88%
• 1Y: 25.96%
• 3Y*: 20.45%
• 5Y*: 12.05%
• 10Y*: 13.62%

RMQAX

• 1D: -0.58%
• 1M: 17.69%
• YTD: 39.33%
• 6M: 35.20%
• 1Y: 81.45%
• 3Y*: 50.89%
• 5Y*: 26.30%
• 10Y*: 37.54%

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

RYSOX vs. RMQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYSOX Rydex S&P 500 Fund	10.12%	15.93%	22.98%	24.15%	-19.47%	26.68%	16.25%	29.15%	-6.01%	19.53%
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	39.33%	33.92%	44.76%	115.91%	-59.93%	56.36%	101.06%	80.80%	-7.28%	69.80%

Correlation

The correlation between RYSOX and RMQAX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.91

The correlation between RYSOX and RMQAX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

RYSOX vs. RMQAX — Risk / Return Rank

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

RYSOX

RYSOX Risk / Return Rank: 59
RYSOX Sharpe Ratio Rank: 58
RYSOX Sortino Ratio Rank: 54
RYSOX Omega Ratio Rank: 55
RYSOX Calmar Ratio Rank: 59
RYSOX Martin Ratio Rank: 70

RMQAX

RMQAX Risk / Return Rank: 64
RMQAX Sharpe Ratio Rank: 78
RMQAX Sortino Ratio Rank: 53
RMQAX Omega Ratio Rank: 53
RMQAX Calmar Ratio Rank: 74
RMQAX Martin Ratio Rank: 61

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.

RYSOX vs. RMQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex S&P 500 Fund (RYSOX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX). 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.

	RYSOX	RMQAX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.58	-0.38
Sortino ratio: Return per unit of downside risk	3.02	3.06	-0.03
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	2.88	3.32	-0.44
Martin ratio: Return relative to average drawdown	13.16	12.01	+1.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYSOX vs. RMQAX - Sharpe Ratio Comparison

The current RYSOX Sharpe Ratio is 2.20, which is comparable to the RMQAX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of RYSOX and RMQAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RYSOX	RMQAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.58	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.57	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.81	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.75	-0.27

Drawdowns

RYSOX vs. RMQAX - Drawdown Comparison

The maximum RYSOX drawdown since its inception was -55.24%, smaller than the maximum RMQAX drawdown of -63.18%. Use the drawdown chart below to compare losses from any high point for RYSOX and RMQAX.

Drawdown Indicators

	RYSOX	RMQAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.24%	-63.18%	+7.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-24.96%	+15.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-42.45%	+23.51%
Max Drawdown (5Y) Largest decline over 5 years	-25.45%	-63.18%	+37.73%
Max Drawdown (10Y) Largest decline over 10 years	-34.05%	-63.18%	+29.13%
Current Drawdown Current decline from peak	-0.73%	-0.58%	-0.15%
Average Drawdown Average peak-to-trough decline	-8.27%	-12.90%	+4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	6.89%	-4.91%

Volatility

RYSOX vs. RMQAX - Volatility Comparison

The current volatility for Rydex S&P 500 Fund (RYSOX) is 2.92%, while Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) has a volatility of 8.60%. This indicates that RYSOX experiences smaller price fluctuations and is considered to be less risky than RMQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYSOX	RMQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	8.60%	-5.68%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	24.31%	-15.34%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	32.14%	-20.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	46.18%	-29.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	46.41%	-28.32%

RYSOX vs. RMQAX - Expense Ratio Comparison

RYSOX has a 1.56% expense ratio, which is higher than RMQAX's 1.32% expense ratio.

Dividends

RYSOX vs. RMQAX - Dividend Comparison

RYSOX's dividend yield for the trailing twelve months is around 2.40%, less than RMQAX's 26.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	26.03%	36.27%	26.02%	3.76%	0.00%	2.18%	5.30%	0.10%	0.00%	0.00%	0.00%	0.00%
RYSOX Rydex S&P 500 Fund	2.40%	2.65%	1.08%	0.60%	1.17%	1.25%	13.42%	0.93%	1.69%	4.56%	0.84%	4.01%

Frequently Asked Questions

Can I hold both RYSOX and RMQAX in my portfolio?

With a correlation of 0.94, RYSOX and RMQAX 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, RYSOX or RMQAX?

RMQAX has higher volatility (8.60%) compared to RYSOX (2.92%). In terms of maximum drawdown, RYSOX dropped -55.24% vs RMQAX's -63.18%.

Which has better risk-adjusted returns?

RMQAX currently has the higher Sharpe Ratio (2.58 vs 2.20), 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.