RYTPX vs. BRPIX
RYTPX (Rydex Inverse S&P 500 2x Strategy Fund) and BRPIX (ProFunds Bear Fund) are both Inverse Equities funds. Over the past 10 years, RYTPX returned -17.50%/yr vs -14.33%/yr for BRPIX. With a 0.96 correlation, they move nearly in lockstep. RYTPX charges 2.16%/yr vs 1.64%/yr for BRPIX.
Performance
RYTPX vs. BRPIX - Performance Comparison
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Returns By Period
In the year-to-date period, RYTPX achieves a -12.39% return, which is significantly lower than BRPIX's -5.92% return. Over the past 10 years, RYTPX has underperformed BRPIX with an annualized return of -17.50%, while BRPIX has yielded a comparatively higher -14.33% annualized return.
RYTPX
- 1D
- 2.90%
- 1M
- 4.28%
- YTD
- -12.39%
- 6M
- -10.07%
- 1Y
- -28.37%
- 3Y*
- -26.98%
- 5Y*
- -21.19%
- 10Y*
- -17.50%
BRPIX
- 1D
- 1.42%
- 1M
- 1.54%
- YTD
- -5.92%
- 6M
- -4.67%
- 1Y
- -14.30%
- 3Y*
- -14.82%
- 5Y*
- -10.60%
- 10Y*
- -14.33%
RYTPX vs. BRPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYTPX Rydex Inverse S&P 500 2x Strategy Fund | -12.39% | -27.24% | -29.24% | -31.96% | 29.31% | -43.38% | -50.05% | -41.84% | 4.42% | -32.54% |
BRPIX ProFunds Bear Fund | -5.92% | -12.27% | -20.40% | -15.39% | 17.31% | -24.68% | -25.63% | -23.18% | 4.03% | -18.03% |
Correlation
The correlation between RYTPX and BRPIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.96 |
The correlation between RYTPX and BRPIX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
RYTPX vs. BRPIX — Risk / Return Rank
RYTPX
BRPIX
RYTPX vs. BRPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) and ProFunds Bear Fund (BRPIX). 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.
| RYTPX | BRPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.81 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | -0.90 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.62 | -1.67 | +0.05 |
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Drawdowns
RYTPX vs. BRPIX - Drawdown Comparison
The maximum RYTPX drawdown since its inception was -99.92%, roughly equal to the maximum BRPIX drawdown of -96.76%. Use the drawdown chart below to compare losses from any high point for RYTPX and BRPIX.
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Drawdown Indicators
| RYTPX | BRPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -96.76% | -3.16% |
Max Drawdown (1Y)Largest decline over 1 year | -32.67% | -17.00% | -15.67% |
Max Drawdown (3Y)Largest decline over 3 years | -68.03% | -44.49% | -23.54% |
Max Drawdown (5Y)Largest decline over 5 years | -75.66% | -50.06% | -25.60% |
Max Drawdown (10Y)Largest decline over 10 years | -96.56% | -79.74% | -16.82% |
Current DrawdownCurrent decline from peak | -99.91% | -96.26% | -3.65% |
Average DrawdownAverage peak-to-trough decline | -82.33% | -62.18% | -20.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.16% | 9.98% | +10.18% |
Volatility
RYTPX vs. BRPIX - Volatility Comparison
Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) has a higher volatility of 9.58% compared to ProFunds Bear Fund (BRPIX) at 4.83%. This indicates that RYTPX's price experiences larger fluctuations and is considered to be riskier than BRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYTPX | BRPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.58% | 4.83% | +4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 19.85% | 10.02% | +9.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.10% | 12.63% | +12.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.95% | 17.28% | +16.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 290.09% | 17.90% | +272.19% |
RYTPX vs. BRPIX - Expense Ratio Comparison
RYTPX has a 2.16% expense ratio, which is higher than BRPIX's 1.64% expense ratio.
Dividends
RYTPX vs. BRPIX - Dividend Comparison
RYTPX's dividend yield for the trailing twelve months is around 5.87%, more than BRPIX's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BRPIX ProFunds Bear Fund | 4.62% | 4.35% | 0.00% | 5.58% | 0.00% | 0.00% | 0.06% | 0.27% |
RYTPX Rydex Inverse S&P 500 2x Strategy Fund | 5.87% | 5.15% | 6.90% | 3.35% | 0.00% | 0.00% | 0.00% | 0.23% |
Frequently Asked Questions
With a correlation of 0.99, RYTPX and BRPIX 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.
RYTPX has higher volatility (9.58%) compared to BRPIX (4.83%). In terms of maximum drawdown, RYTPX dropped -99.92% vs BRPIX's -96.76%.
RYTPX currently has the higher Sharpe Ratio (-1.20 vs -1.21), 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.
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