RYVNX vs. UCPIX

Last updated Jun 5, 2026

RYVNX (Rydex Inverse NASDAQ-100 2x Strategy Fund) and UCPIX (ProFunds UltraShort Small Cap Fund) are both Inverse Equities funds. Over the past 10 years, RYVNX returned -39.14%/yr vs -28.20%/yr for UCPIX. A 0.77 correlation means they provide meaningful diversification when combined. RYVNX charges 2.49%/yr vs 1.78%/yr for UCPIX.

Performance

RYVNX vs. UCPIX - 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 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, RYVNX achieves a -32.34% return, which is significantly lower than UCPIX's -27.89% return. Over the past 10 years, RYVNX has underperformed UCPIX with an annualized return of -39.14%, while UCPIX has yielded a comparatively higher -28.20% annualized return.

RYVNX

• 1D: 0.57%
• 1M: -16.08%
• YTD: -32.34%
• 6M: -30.28%
• 1Y: -48.91%
• 3Y*: -39.56%
• 5Y*: -32.79%
• 10Y*: -39.14%

UCPIX

• 1D: 2.65%
• 1M: -3.63%
• YTD: -27.89%
• 6M: -24.87%
• 1Y: -49.10%
• 3Y*: -29.63%
• 5Y*: -17.46%
• 10Y*: -28.20%

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

RYVNX vs. UCPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	-32.34%	-35.24%	-34.30%	-57.09%	65.14%	-45.41%	-69.71%	-50.05%	-9.71%	-44.28%
UCPIX ProFunds UltraShort Small Cap Fund	-27.89%	-25.76%	-19.27%	-26.54%	28.08%	-36.02%	-60.58%	-38.99%	17.86%	-27.19%

Correlation

The correlation between RYVNX and UCPIX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004	0.77

The correlation between RYVNX and UCPIX shifts across timeframes, from 0.65 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RYVNX vs. UCPIX — 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

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.

RYVNX vs. UCPIX - 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 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.

	RYVNX	UCPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.53	-1.28	-0.25
Sortino ratio: Return per unit of downside risk	-2.60	-2.04	-0.56
Omega ratio: Gain probability vs. loss probability	0.73	0.78	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.97	-0.02
Martin ratio: Return relative to average drawdown	-1.96	-1.58	-0.38
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. UCPIX - Sharpe Ratio Comparison

The current RYVNX Sharpe Ratio is -1.53, which is comparable to the UCPIX Sharpe Ratio of -1.28. The chart below compares the historical Sharpe Ratios of RYVNX 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.

Sharpe Ratios by Period

	RYVNX	UCPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.53	-1.28	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.73	-0.04	-0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.87	-0.10	-0.77
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	-0.14	-0.49

Drawdowns

RYVNX vs. UCPIX - Drawdown Comparison

The maximum RYVNX drawdown since its inception was -100.00%, roughly equal to the maximum UCPIX drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for RYVNX and UCPIX.

Drawdown Indicators

	RYVNX	UCPIX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.99%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-50.02%	-50.67%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-79.67%	-94.79%	+15.12%
Max Drawdown (5Y) Largest decline over 5 years	-88.82%	-95.26%	+6.44%
Max Drawdown (10Y) Largest decline over 10 years	-99.39%	-99.39%	0.00%
Current Drawdown Current decline from peak	-100.00%	-99.94%	-0.06%
Average Drawdown Average peak-to-trough decline	-89.57%	-84.03%	-5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.13%	31.04%	-5.91%

Volatility

RYVNX vs. UCPIX - Volatility Comparison

The current volatility for Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) is 9.25%, while ProFunds UltraShort Small Cap Fund (UCPIX) has a volatility of 11.50%. This indicates that RYVNX 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

	RYVNX	UCPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.25%	11.50%	-2.25%
Volatility (6M) Calculated over the trailing 6-month period	24.49%	27.34%	-2.85%
Volatility (1Y) Calculated over the trailing 1-year period	32.16%	38.36%	-6.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.14%	402.12%	-356.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.08%	286.13%	-241.05%

RYVNX vs. UCPIX - Expense Ratio Comparison

RYVNX has a 2.49% expense ratio, which is higher than UCPIX's 1.78% expense ratio.

Dividends

RYVNX vs. UCPIX - Dividend Comparison

RYVNX's dividend yield for the trailing twelve months is around 15.70%, more than UCPIX's 6.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	15.70%	10.62%	6.03%	4.56%	0.00%	0.00%	0.25%	0.03%
UCPIX ProFunds UltraShort Small Cap Fund	6.40%	4.61%	4.24%	4.77%	0.00%	0.00%	0.00%	0.30%

Frequently Asked Questions

Can I hold both RYVNX and UCPIX in my portfolio?

RYVNX and UCPIX have a correlation of 0.69, 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 UCPIX?

UCPIX has higher volatility (11.50%) compared to RYVNX (9.25%). In terms of maximum drawdown, RYVNX dropped -100.00% vs UCPIX's -99.99%.

Which has better risk-adjusted returns?

UCPIX currently has the higher Sharpe Ratio (-1.28 vs -1.53), 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.