RYVNX vs. UVPIX

Last updated Jun 26, 2026

RYVNX (Rydex Inverse NASDAQ-100 2x Strategy Fund) and UVPIX (ProFunds Ultra Short Emerging Market Fund) are both Inverse Equities funds. Over the past 10 years, RYVNX returned -39.28%/yr vs -27.49%/yr for UVPIX. A 0.70 correlation means they provide meaningful diversification when combined. RYVNX charges 2.49%/yr vs 1.78%/yr for UVPIX.

Performance

RYVNX vs. UVPIX - 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 Ultra Short Emerging Market Fund (UVPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYVNX achieves a -27.31% return, which is significantly lower than UVPIX's -8.11% return. Over the past 10 years, RYVNX has underperformed UVPIX with an annualized return of -39.28%, while UVPIX has yielded a comparatively higher -27.49% annualized return.

RYVNX

• 1D: 0.90%
• 1M: 3.50%
• YTD: -27.31%
• 6M: -24.85%
• 1Y: -42.61%
• 3Y*: -37.15%
• 5Y*: -30.64%
• 10Y*: -39.28%

UVPIX

• 1D: 0.77%
• 1M: 8.96%
• YTD: -8.11%
• 6M: -7.09%
• 1Y: -33.36%
• 3Y*: -30.94%
• 5Y*: -17.36%
• 10Y*: -27.49%

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

RYVNX vs. UVPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	-27.31%	-35.24%	-34.30%	-57.09%	65.14%	-45.41%	-69.71%	-50.05%	-9.71%	-44.28%
UVPIX ProFunds Ultra Short Emerging Market Fund	-8.11%	-49.90%	-17.67%	-27.06%	1.35%	15.70%	-57.91%	-39.81%	20.65%	-48.37%

Correlation

The correlation between RYVNX and UVPIX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006	0.70

The correlation between RYVNX and UVPIX has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

Return for Risk

RYVNX vs. UVPIX — 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

UVPIX

UVPIX Risk / Return Rank: 1
UVPIX Sharpe Ratio Rank: 1
UVPIX Sortino Ratio Rank: 1
UVPIX Omega Ratio Rank: 1
UVPIX Calmar Ratio Rank: 1
UVPIX Martin Ratio Rank: 1

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. UVPIX - 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 Ultra Short Emerging Market Fund (UVPIX). 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	UVPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.20	-0.77	-0.42
Sortino ratio: Return per unit of downside risk	-1.92	-0.99	-0.93
Omega ratio: Gain probability vs. loss probability	0.79	0.88	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.91	-0.76	-0.15
Martin ratio: Return relative to average drawdown	-1.82	-1.10	-0.72

RYVNX vs. UVPIX - Sharpe Ratio Comparison

The current RYVNX Sharpe Ratio is -1.20, which is lower than the UVPIX Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of RYVNX and UVPIX, 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. UVPIX - Drawdown Comparison

The maximum RYVNX drawdown since its inception was -100.00%, roughly equal to the maximum UVPIX drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for RYVNX and UVPIX.

Drawdown Indicators

	RYVNX	UVPIX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.86%	-0.14%
Max Drawdown (1Y) Largest decline over 1 year	-46.24%	-43.77%	-2.47%
Max Drawdown (3Y) Largest decline over 3 years	-79.81%	-75.41%	-4.40%
Max Drawdown (5Y) Largest decline over 5 years	-88.89%	-83.54%	-5.35%
Max Drawdown (10Y) Largest decline over 10 years	-99.37%	-96.51%	-2.86%
Current Drawdown Current decline from peak	-100.00%	-99.84%	-0.16%
Average Drawdown Average peak-to-trough decline	-89.58%	-89.50%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.80%	30.07%	-6.27%

Volatility

RYVNX vs. UVPIX - Volatility Comparison

Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) has a higher volatility of 17.93% compared to ProFunds Ultra Short Emerging Market Fund (UVPIX) at 15.30%. This indicates that RYVNX's price experiences larger fluctuations and is considered to be riskier than UVPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYVNX	UVPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.93%	15.30%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	29.02%	35.24%	-6.22%
Volatility (1Y) Calculated over the trailing 1-year period	36.02%	43.21%	-7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.73%	48.21%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.31%	46.50%	-1.19%

RYVNX vs. UVPIX - Expense Ratio Comparison

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

Dividends

RYVNX vs. UVPIX - Dividend Comparison

RYVNX's dividend yield for the trailing twelve months is around 14.61%, more than UVPIX's 9.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	14.61%	10.62%	6.03%	4.56%	0.00%	0.00%	0.25%	0.03%
UVPIX ProFunds Ultra Short Emerging Market Fund	9.78%	8.99%	0.00%	7.25%	0.00%	0.00%	0.00%	0.49%

Frequently Asked Questions

Can I hold both RYVNX and UVPIX in my portfolio?

RYVNX and UVPIX have a correlation of 0.67, 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 UVPIX?

RYVNX has higher volatility (17.93%) compared to UVPIX (15.30%). In terms of maximum drawdown, RYVNX dropped -100.00% vs UVPIX's -99.86%.

Which has better risk-adjusted returns?

UVPIX currently has the higher Sharpe Ratio (-0.77 vs -1.20), 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.