RYVNX vs. QLD

Last updated Jun 3, 2026

RYVNX (Rydex Inverse NASDAQ-100 2x Strategy Fund) and QLD (ProShares Ultra QQQ) are both funds - RYVNX is a Inverse Equities fund managed by Rydex Funds, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Over the past 10 years, RYVNX returned -39.12%/yr vs 36.17%/yr for QLD. At a correlation of -0.99, they often move in opposite directions. RYVNX charges 2.49%/yr vs 0.95%/yr for QLD.

Performance

RYVNX vs. QLD - Performance Comparison

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

Returns By Period

In the year-to-date period, RYVNX achieves a -32.08% return, which is significantly lower than QLD's 42.81% return. Over the past 10 years, RYVNX has underperformed QLD with an annualized return of -39.12%, while QLD has yielded a comparatively higher 36.17% annualized return.

RYVNX

• 1D: -1.17%
• 1M: -17.63%
• YTD: -32.08%
• 6M: -30.13%
• 1Y: -49.78%
• 3Y*: -39.48%
• 5Y*: -32.95%
• 10Y*: -39.12%

QLD

• 1D: 0.90%
• 1M: 21.71%
• YTD: 42.81%
• 6M: 38.79%
• 1Y: 89.44%
• 3Y*: 50.42%
• 5Y*: 26.76%
• 10Y*: 36.17%

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

RYVNX vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	-32.08%	-35.24%	-34.30%	-57.09%	65.14%	-45.41%	-69.71%	-50.05%	-9.71%	-44.28%
QLD ProShares Ultra QQQ	42.81%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Correlation

The correlation between RYVNX and QLD is -1.00, 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	-1.00
Correlation (3Y) Calculated over the trailing 3-year period	-1.00
Correlation (5Y) Calculated over the trailing 5-year period	-1.00
Correlation (10Y) Calculated over the trailing 10-year period	-1.00
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006	-0.99

The correlation between RYVNX and QLD has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

Return for Risk

RYVNX vs. QLD — 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

QLD

QLD Risk / Return Rank: 73
QLD Sharpe Ratio Rank: 85
QLD Sortino Ratio Rank: 71
QLD Omega Ratio Rank: 70
QLD Calmar Ratio Rank: 72
QLD Martin Ratio Rank: 69

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. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) and ProShares Ultra QQQ (QLD). 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.

	RYVNX	QLD	Difference
Sharpe ratio Return per unit of total volatility	-1.57	2.82	-4.40
Sortino ratio Return per unit of downside risk	-2.70	3.26	-5.96
Omega ratio Gain probability vs. loss probability	0.72	1.43	-0.71
Calmar ratio Return relative to maximum drawdown	-1.00	3.67	-4.67
Martin ratio Return relative to average drawdown	-1.94	12.83	-14.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYVNX vs. QLD - Sharpe Ratio Comparison

The current RYVNX Sharpe Ratio is -1.57, which is lower than the QLD Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of RYVNX and QLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RYVNX	QLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.57	2.82	-4.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.73	0.60	-1.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.87	0.81	-1.69
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	0.60	-1.23

Drawdowns

RYVNX vs. QLD - Drawdown Comparison

The maximum RYVNX drawdown since its inception was -100.00%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for RYVNX and QLD.

Drawdown Indicators

	RYVNX	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-83.13%	-16.87%
Max Drawdown (1Y) Largest decline over 1 year	-49.54%	-25.13%	-24.41%
Max Drawdown (3Y) Largest decline over 3 years	-79.48%	-42.29%	-37.19%
Max Drawdown (5Y) Largest decline over 5 years	-88.71%	-63.68%	-25.03%
Max Drawdown (10Y) Largest decline over 10 years	-99.39%	-63.68%	-35.71%
Current Drawdown Current decline from peak	-100.00%	0.00%	-100.00%
Average Drawdown Average peak-to-trough decline	-89.56%	-18.17%	-71.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.96%	7.20%	+18.76%

Volatility

RYVNX vs. QLD - Volatility Comparison

Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) and ProShares Ultra QQQ (QLD) have volatilities of 9.27% and 8.87%, 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.

Volatility by Period

	RYVNX	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.27%	8.87%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	24.52%	24.08%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	32.23%	31.86%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.15%	44.76%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.08%	44.57%	+0.51%

RYVNX vs. QLD - Expense Ratio Comparison

RYVNX has a 2.49% expense ratio, which is higher than QLD's 0.95% expense ratio.

Dividends

RYVNX vs. QLD - Dividend Comparison

RYVNX's dividend yield for the trailing twelve months is around 15.64%, more than QLD's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLD ProShares Ultra QQQ	0.12%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	15.64%	10.62%	6.03%	4.56%	0.00%	0.00%	0.25%	0.03%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RYVNX and QLD in my portfolio?

RYVNX and QLD have a correlation of -1.00, 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 QLD?

RYVNX has higher volatility (9.27%) compared to QLD (8.87%). In terms of maximum drawdown, RYVNX dropped -100.00% vs QLD's -83.13%.

Which has better risk-adjusted returns?

QLD currently has the higher Sharpe Ratio (2.82 vs -1.57), 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.