RYURX vs. SH
RYURX (Rydex Inverse S&P 500 Strategy Fund) and SH (ProShares Short S&P500) are both Inverse Equities funds. Over the past 10 years, RYURX returned -12.47%/yr vs -12.47%/yr for SH. Their 0.99 correlation means they have historically moved very closely together. RYURX charges 1.49%/yr vs 0.89%/yr for SH.
Performance
RYURX vs. SH - Performance Comparison
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Returns By Period
In the year-to-date period, RYURX achieves a -6.06% return, which is significantly higher than SH's -6.65% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: RYURX at -12.47% and SH at -12.47%.
RYURX
- 1D
- -1.56%
- 1M
- 0.93%
- 6M
- -5.19%
- YTD
- -6.06%
- 1Y
- -12.58%
- 3Y*
- -10.49%
- 5Y*
- -7.99%
- 10Y*
- -12.47%
- ALL TIME*
- -10.18%
SH
- 1D
- -0.69%
- 1M
- 0.12%
- 6M
- -5.73%
- YTD
- -6.65%
- 1Y
- -13.19%
- 3Y*
- -10.94%
- 5Y*
- -8.01%
- 10Y*
- -12.47%
- ALL TIME*
- -11.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $271.72M | $244.09M | $301.56M |
RYURX vs. SH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYURX Rydex Inverse S&P 500 Strategy Fund | -6.06% | -11.41% | -13.04% | -14.56% | 17.56% | -24.19% | -24.90% | -22.65% | 4.33% | -17.38% |
SH ProShares Short S&P500 | -6.65% | -11.35% | -13.52% | -14.80% | 18.98% | -24.21% | -25.09% | -22.12% | 4.93% | -17.36% |
Correlation
The correlation between RYURX and SH is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006 | 0.99 |
The correlation between RYURX and SH has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
RYURX vs. SH — Risk / Return Rank
RYURX
SH
RYURX vs. SH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse S&P 500 Strategy Fund (RYURX) and ProShares Short S&P500 (SH). 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.
| RYURX | SH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.86 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | -0.73 | +0.06 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.30 | +0.10 |
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Drawdowns
RYURX vs. SH - Drawdown Comparison
The maximum RYURX drawdown since its inception was -96.72%, roughly equal to the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for RYURX and SH.
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Drawdown Indicators
| RYURX | SH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.72% | -94.66% | -2.06% |
Max Drawdown (1Y)Largest decline over 1 year | -16.08% | -16.06% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -38.48% | -38.82% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -44.10% | -44.53% | +0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -75.17% | -74.80% | -0.37% |
Current DrawdownCurrent decline from peak | -96.63% | -94.54% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -69.05% | -67.93% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.97% | 9.03% | -0.06% |
Volatility
RYURX vs. SH - Volatility Comparison
Rydex Inverse S&P 500 Strategy Fund (RYURX) and ProShares Short S&P500 (SH) have volatilities of 3.38% and 3.51%, 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.
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Volatility by Period
| RYURX | SH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 3.51% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 10.08% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 12.81% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 16.96% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 18.02% | +0.09% |
RYURX vs. SH - Expense Ratio Comparison
RYURX has a 1.49% expense ratio, which is higher than SH's 0.89% expense ratio.
Dividends
RYURX vs. SH - Dividend Comparison
RYURX's dividend yield for the trailing twelve months is around 4.06%, less than SH's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RYURX Rydex Inverse S&P 500 Strategy Fund | 4.06% | 3.82% | 6.78% | 2.79% | 0.00% | 0.00% | 0.42% | 0.86% | 0.00% | 0.00% |
SH ProShares Short S&P500 | 4.19% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
Frequently Asked Questions
With a correlation of 1.00, RYURX and SH 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.
SH has higher volatility (3.51%) compared to RYURX (3.38%). In terms of maximum drawdown, RYURX dropped -96.72% vs SH's -94.66%.
RYURX currently has the higher Sharpe Ratio (-0.85 vs -0.92), 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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