RYURX vs. UCPIX

Last updated Jun 25, 2026

RYURX (Rydex Inverse S&P 500 Strategy Fund) and UCPIX (ProFunds UltraShort Small Cap Fund) are both Inverse Equities funds. Over the past 10 years, RYURX returned -13.02%/yr vs -10.66%/yr for UCPIX. Their correlation of 0.85 suggests significant overlap in exposure. RYURX charges 1.49%/yr vs 1.78%/yr for UCPIX.

Performance

RYURX vs. UCPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Inverse S&P 500 Strategy Fund (RYURX) and ProFunds UltraShort Small Cap Fund (UCPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYURX achieves a -5.66% return, which is significantly higher than UCPIX's -32.32% return. Over the past 10 years, RYURX has underperformed UCPIX with an annualized return of -13.02%, while UCPIX has yielded a comparatively higher -10.66% annualized return.

RYURX

• 1D: 1.44%
• 1M: 1.61%
• YTD: -5.66%
• 6M: -4.38%
• 1Y: -13.70%
• 3Y*: -11.73%
• 5Y*: -8.52%
• 10Y*: -13.02%

UCPIX

• 1D: 1.88%
• 1M: -7.62%
• YTD: -32.32%
• 6M: -28.57%
• 1Y: -49.33%
• 3Y*: 48.01%
• 5Y*: 30.45%
• 10Y*: -10.66%

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

RYURX vs. UCPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYURX Rydex Inverse S&P 500 Strategy Fund	-5.66%	-11.41%	-13.04%	-14.56%	17.56%	-24.19%	-24.90%	-22.65%	4.33%	-17.38%
UCPIX ProFunds UltraShort Small Cap Fund	-32.32%	-25.76%	707.30%	-26.54%	28.08%	-36.02%	-60.58%	-38.99%	17.86%	-27.19%

Correlation

The correlation between RYURX and UCPIX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.85

The correlation between RYURX and UCPIX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

RYURX vs. UCPIX — Risk / Return Rank

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

RYURX

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

UCPIX

UCPIX Risk / Return Rank: 0
UCPIX Sharpe Ratio Rank: 0
UCPIX Sortino Ratio Rank: 0
UCPIX Omega Ratio Rank: 0
UCPIX Calmar Ratio Rank: 0
UCPIX 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.

RYURX vs. UCPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse S&P 500 Strategy Fund (RYURX) and ProFunds UltraShort Small Cap Fund (UCPIX). 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	UCPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.18	-1.29	+0.11
Sortino ratio: Return per unit of downside risk	-1.69	-2.09	+0.40
Omega ratio: Gain probability vs. loss probability	0.82	0.78	+0.04
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.99	+0.10
Martin ratio: Return relative to average drawdown	-1.67	-1.64	-0.03

RYURX vs. UCPIX - Sharpe Ratio Comparison

The current RYURX Sharpe Ratio is -1.18, which is comparable to the UCPIX Sharpe Ratio of -1.29. The chart below compares the historical Sharpe Ratios of RYURX and UCPIX, 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

RYURX vs. UCPIX - Drawdown Comparison

The maximum RYURX drawdown since its inception was -96.72%, roughly equal to the maximum UCPIX drawdown of -99.90%. Use the drawdown chart below to compare losses from any high point for RYURX and UCPIX.

Drawdown Indicators

	RYURX	UCPIX	Difference
Max Drawdown Largest peak-to-trough decline	-96.72%	-99.90%	+3.18%
Max Drawdown (1Y) Largest decline over 1 year	-16.51%	-51.41%	+34.90%
Max Drawdown (3Y) Largest decline over 3 years	-38.48%	-68.50%	+30.02%
Max Drawdown (5Y) Largest decline over 5 years	-44.10%	-68.50%	+24.40%
Max Drawdown (10Y) Largest decline over 10 years	-76.43%	-94.03%	+17.60%
Current Drawdown Current decline from peak	-96.61%	-99.47%	+2.86%
Average Drawdown Average peak-to-trough decline	-68.96%	-83.99%	+15.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.63%	31.06%	-21.43%

Volatility

RYURX vs. UCPIX - Volatility Comparison

The current volatility for Rydex Inverse S&P 500 Strategy Fund (RYURX) is 4.85%, while ProFunds UltraShort Small Cap Fund (UCPIX) has a volatility of 12.94%. This indicates that RYURX experiences smaller price fluctuations and is considered to be less risky than UCPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYURX	UCPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	12.94%	-8.09%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	28.84%	-18.97%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	39.45%	-26.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	400.24%	-383.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.12%	284.82%	-266.70%

RYURX vs. UCPIX - Expense Ratio Comparison

RYURX has a 1.49% expense ratio, which is lower than UCPIX's 1.78% expense ratio.

Dividends

RYURX vs. UCPIX - Dividend Comparison

RYURX's dividend yield for the trailing twelve months is around 4.05%, less than UCPIX's 6.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYURX Rydex Inverse S&P 500 Strategy Fund	4.05%	3.82%	6.78%	2.79%	0.00%	0.00%	0.42%	0.86%
UCPIX ProFunds UltraShort Small Cap Fund	6.82%	4.61%	4.24%	4.77%	0.00%	0.00%	0.00%	0.30%

Frequently Asked Questions

Can I hold both RYURX and UCPIX in my portfolio?

RYURX and UCPIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYURX or UCPIX?

UCPIX has higher volatility (12.94%) compared to RYURX (4.85%). In terms of maximum drawdown, RYURX dropped -96.72% vs UCPIX's -99.90%.

Which has better risk-adjusted returns?

RYURX currently has the higher Sharpe Ratio (-1.18 vs -1.29), 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.