RYSOX vs. RYAIX

Last updated Jun 26, 2026

RYSOX (Rydex S&P 500 Fund) and RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) are both mutual funds - RYSOX is a S&P 500 fund tracking the S&P 500 Index, while RYAIX is a Inverse Equities fund managed by Rydex Funds. Over the past 10 years, RYSOX returned 13.66%/yr vs -19.33%/yr for RYAIX. At a correlation of -0.90, they often move in opposite directions. RYSOX charges 1.56%/yr vs 1.55%/yr for RYAIX.

Performance

RYSOX vs. RYAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex S&P 500 Fund (RYSOX) 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, RYSOX achieves a 7.26% return, which is significantly higher than RYAIX's -13.79% return. Over the past 10 years, RYSOX has outperformed RYAIX with an annualized return of 13.66%, while RYAIX has yielded a comparatively lower -19.33% annualized return.

RYSOX

• 1D: -0.10%
• 1M: -2.17%
• YTD: 7.26%
• 6M: 5.91%
• 1Y: 20.25%
• 3Y*: 18.79%
• 5Y*: 11.20%
• 10Y*: 13.66%

RYAIX

• 1D: 0.46%
• 1M: 2.35%
• YTD: -13.79%
• 6M: -12.31%
• 1Y: -22.19%
• 3Y*: -17.53%
• 5Y*: -13.28%
• 10Y*: -19.33%

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

RYSOX vs. RYAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYSOX Rydex S&P 500 Fund	7.26%	15.93%	22.98%	24.15%	-19.47%	26.68%	16.25%	29.15%	-6.01%	19.53%
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	-13.79%	-15.63%	-15.64%	-31.71%	35.92%	-24.88%	-40.98%	-27.65%	-2.63%	-24.47%

Correlation

The correlation between RYSOX and RYAIX is -0.94, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	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 3, 2007	-0.90

The correlation between RYSOX and RYAIX has been stable across timeframes, ranging from -0.94 to -0.90 - a consistent structural relationship.

Return for Risk

RYSOX vs. RYAIX — Risk / Return Rank

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

RYSOX

RYSOX Risk / Return Rank: 48
RYSOX Sharpe Ratio Rank: 46
RYSOX Sortino Ratio Rank: 42
RYSOX Omega Ratio Rank: 45
RYSOX Calmar Ratio Rank: 46
RYSOX Martin Ratio Rank: 59

RYAIX

RYAIX Risk / Return Rank: 0
RYAIX Sharpe Ratio Rank: 0
RYAIX Sortino Ratio Rank: 0
RYAIX Omega Ratio Rank: 0
RYAIX Calmar Ratio Rank: 0
RYAIX Martin Ratio Rank: 0

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. RYAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex S&P 500 Fund (RYSOX) 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.

	RYSOX	RYAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	-1.24	+2.87
Sortino ratio: Return per unit of downside risk	2.25	-1.82	+4.07
Omega ratio: Gain probability vs. loss probability	1.30	0.80	+0.50
Calmar ratio: Return relative to maximum drawdown	2.24	-0.88	+3.12
Martin ratio: Return relative to average drawdown	9.83	-1.90	+11.73

RYSOX vs. RYAIX - Sharpe Ratio Comparison

The current RYSOX Sharpe Ratio is 1.63, which is higher than the RYAIX Sharpe Ratio of -1.24. The chart below compares the historical Sharpe Ratios of RYSOX 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

RYSOX vs. RYAIX - Drawdown Comparison

The maximum RYSOX drawdown since its inception was -55.24%, smaller than the maximum RYAIX drawdown of -98.93%. Use the drawdown chart below to compare losses from any high point for RYSOX and RYAIX.

Drawdown Indicators

	RYSOX	RYAIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.24%	-98.93%	+43.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-25.47%	+16.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-50.13%	+31.19%
Max Drawdown (5Y) Largest decline over 5 years	-25.45%	-61.15%	+35.70%
Max Drawdown (10Y) Largest decline over 10 years	-34.05%	-88.80%	+54.75%
Current Drawdown Current decline from peak	-3.31%	-98.88%	+95.57%
Average Drawdown Average peak-to-trough decline	-8.25%	-73.34%	+65.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	11.95%	-9.89%

Volatility

RYSOX vs. RYAIX - Volatility Comparison

The current volatility for Rydex S&P 500 Fund (RYSOX) is 4.87%, while Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) has a volatility of 8.99%. This indicates that RYSOX 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

	RYSOX	RYAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	8.99%	-4.12%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	14.61%	-4.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	18.09%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	23.14%	-6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	22.77%	-4.67%

RYSOX vs. RYAIX - Expense Ratio Comparison

RYSOX has a 1.56% expense ratio, which is higher than RYAIX's 1.55% expense ratio.

Dividends

RYSOX vs. RYAIX - Dividend Comparison

RYSOX's dividend yield for the trailing twelve months is around 2.47%, less than RYAIX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	2.59%	2.23%	5.67%	4.81%	0.00%	0.00%	0.09%	0.72%	0.00%	0.00%	0.00%	0.00%
RYSOX Rydex S&P 500 Fund	2.47%	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 RYAIX in my portfolio?

RYSOX and RYAIX have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYSOX or RYAIX?

RYAIX has higher volatility (8.99%) compared to RYSOX (4.87%). In terms of maximum drawdown, RYSOX dropped -55.24% vs RYAIX's -98.93%.

Which has better risk-adjusted returns?

RYSOX currently has the higher Sharpe Ratio (1.63 vs -1.24), 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.