RYVNX vs. FNPIX

Last updated Jul 18, 2026

RYVNX (Rydex Inverse NASDAQ-100 2x Strategy Fund) and FNPIX (ProFunds Financials UltraSector Fund) are both mutual funds - RYVNX is a Inverse Equities fund managed by Rydex Funds, while FNPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, RYVNX returned -38.27%/yr vs 14.98%/yr for FNPIX. At a correlation of -0.66, they often move in opposite directions. RYVNX charges 2.49%/yr vs 1.72%/yr for FNPIX.

Performance

RYVNX vs. FNPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) and ProFunds Financials UltraSector Fund (FNPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYVNX achieves a -26.63% return, which is significantly lower than FNPIX's 3.62% return. Over the past 10 years, RYVNX has underperformed FNPIX with an annualized return of -38.27%, while FNPIX has yielded a comparatively higher 14.98% annualized return.

RYVNX

• 1D: 3.27%
• 1M: 3.68%
• 6M: -25.25%
• YTD: -26.63%
• 1Y: -37.93%
• 3Y*: -34.73%
• 5Y*: -29.82%
• 10Y*: -38.27%

FNPIX

• 1D: 0.60%
• 1M: 7.66%
• 6M: 4.84%
• YTD: 3.62%
• 1Y: 8.90%
• 3Y*: 23.27%
• 5Y*: 12.15%
• 10Y*: 14.98%

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

RYVNX vs. FNPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	-26.63%	-35.24%	-34.30%	-57.09%	65.14%	-45.41%	-69.71%	-50.05%	-9.71%	-44.28%
FNPIX ProFunds Financials UltraSector Fund	3.62%	16.39%	38.51%	18.34%	-23.84%	57.11%	-9.83%	46.49%	-17.23%	27.19%

Correlation

The correlation between RYVNX and FNPIX is -0.31, 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	-0.31
Correlation (3Y) Calculated over the trailing 3-year period	-0.42
Correlation (5Y) Calculated over the trailing 5-year period	-0.57
Correlation (10Y) Calculated over the trailing 10-year period	-0.56
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	-0.66

Over the past year, the inverse relationship between RYVNX and FNPIX has weakened: their correlation has moved from -0.66 to -0.31, meaning they move in opposite directions less often than they have historically.

Return for Risk

RYVNX vs. FNPIX — Risk / Return Rank

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

RYVNX

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

FNPIX

FNPIX Risk / Return Rank: 7
FNPIX Sharpe Ratio Rank: 8
FNPIX Sortino Ratio Rank: 8
FNPIX Omega Ratio Rank: 8
FNPIX Calmar Ratio Rank: 7
FNPIX Martin Ratio Rank: 6

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.

RYVNX vs. FNPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) and ProFunds Financials UltraSector Fund (FNPIX). 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.

	RYVNX	FNPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	0.48	-1.52
Sortino ratio: Return per unit of downside risk	-1.59	0.79	-2.37
Omega ratio: Gain probability vs. loss probability	0.83	1.10	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.86	0.47	-1.33
Martin ratio: Return relative to average drawdown	-1.66	1.11	-2.77

RYVNX vs. FNPIX - Sharpe Ratio Comparison

The current RYVNX Sharpe Ratio is -1.04, which is lower than the FNPIX Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of RYVNX and FNPIX, 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

RYVNX vs. FNPIX - Drawdown Comparison

The maximum RYVNX drawdown since its inception was -100.00%, which is greater than FNPIX's maximum drawdown of -93.14%. Use the drawdown chart below to compare losses from any high point for RYVNX and FNPIX.

Drawdown Indicators

	RYVNX	FNPIX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-93.14%	-6.86%
Max Drawdown (1Y) Largest decline over 1 year	-45.22%	-22.37%	-22.85%
Max Drawdown (3Y) Largest decline over 3 years	-79.81%	-23.21%	-56.60%
Max Drawdown (5Y) Largest decline over 5 years	-88.89%	-37.80%	-51.09%
Max Drawdown (10Y) Largest decline over 10 years	-99.26%	-58.23%	-41.03%
Current Drawdown Current decline from peak	-100.00%	-0.77%	-99.23%
Average Drawdown Average peak-to-trough decline	-89.60%	-36.08%	-53.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.47%	9.38%	+14.09%

Volatility

RYVNX vs. FNPIX - Volatility Comparison

Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) has a higher volatility of 14.50% compared to ProFunds Financials UltraSector Fund (FNPIX) at 6.15%. This indicates that RYVNX's price experiences larger fluctuations and is considered to be riskier than FNPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYVNX	FNPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.50%	6.15%	+8.35%
Volatility (6M) Calculated over the trailing 6-month period	30.78%	16.77%	+14.01%
Volatility (1Y) Calculated over the trailing 1-year period	37.32%	21.84%	+15.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.95%	27.38%	+18.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.36%	30.53%	+14.83%

RYVNX vs. FNPIX - Expense Ratio Comparison

RYVNX has a 2.49% expense ratio, which is higher than FNPIX's 1.72% expense ratio.

Dividends

RYVNX vs. FNPIX - Dividend Comparison

RYVNX's dividend yield for the trailing twelve months is around 14.48%, while FNPIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FNPIX ProFunds Financials UltraSector Fund	0.00%	0.00%	0.49%	0.25%	0.00%	13.10%	0.00%	1.70%
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	14.48%	10.62%	6.03%	4.56%	0.00%	0.00%	0.25%	0.03%

Frequently Asked Questions

Can I hold both RYVNX and FNPIX in my portfolio?

RYVNX and FNPIX have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYVNX or FNPIX?

RYVNX has higher volatility (14.50%) compared to FNPIX (6.15%). In terms of maximum drawdown, RYVNX dropped -100.00% vs FNPIX's -93.14%.

Which has better risk-adjusted returns?

FNPIX currently has the higher Sharpe Ratio (0.48 vs -1.04), 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.