RYVVX vs. VALAX

Last updated Jun 3, 2026

RYVVX (Rydex S&P 500 Pure Value Fund) and VALAX (Al Frank Fund) are both Large Cap Value Equities funds. Over the past 10 years, RYVVX returned 8.34%/yr vs 14.25%/yr for VALAX. Their correlation of 0.90 suggests significant overlap in exposure. RYVVX charges 2.26%/yr vs 1.24%/yr for VALAX.

Performance

RYVVX vs. VALAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex S&P 500 Pure Value Fund (RYVVX) and Al Frank Fund (VALAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYVVX achieves a 9.63% return, which is significantly lower than VALAX's 21.52% return. Over the past 10 years, RYVVX has underperformed VALAX with an annualized return of 8.34%, while VALAX has yielded a comparatively higher 14.25% annualized return.

RYVVX

• 1D: 0.48%
• 1M: 2.51%
• YTD: 9.63%
• 6M: 11.76%
• 1Y: 26.46%
• 3Y*: 15.82%
• 5Y*: 7.17%
• 10Y*: 8.34%

VALAX

• 1D: -0.03%
• 1M: 5.37%
• YTD: 21.52%
• 6M: 23.95%
• 1Y: 51.82%
• 3Y*: 24.34%
• 5Y*: 11.44%
• 10Y*: 14.25%

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

RYVVX vs. VALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYVVX Rydex S&P 500 Pure Value Fund	9.63%	15.67%	9.88%	5.72%	-3.31%	31.12%	-10.98%	22.34%	-13.91%	15.07%
VALAX Al Frank Fund	21.52%	23.57%	13.35%	14.05%	-13.50%	24.97%	10.22%	33.98%	-7.87%	18.09%

Correlation

The correlation between RYVVX and VALAX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.90

Over the past year, the correlation between RYVVX and VALAX has dropped to 0.64 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

RYVVX vs. VALAX — Risk / Return Rank

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

RYVVX

RYVVX Risk / Return Rank: 54
RYVVX Sharpe Ratio Rank: 50
RYVVX Sortino Ratio Rank: 52
RYVVX Omega Ratio Rank: 45
RYVVX Calmar Ratio Rank: 71
RYVVX Martin Ratio Rank: 54

VALAX

VALAX Risk / Return Rank: 95
VALAX Sharpe Ratio Rank: 98
VALAX Sortino Ratio Rank: 95
VALAX Omega Ratio Rank: 92
VALAX Calmar Ratio Rank: 96
VALAX Martin Ratio Rank: 96

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.

RYVVX vs. VALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex S&P 500 Pure Value Fund (RYVVX) and Al Frank Fund (VALAX). 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.

	RYVVX	VALAX	Difference
Sharpe ratio Return per unit of total volatility	2.09	3.85	-1.75
Sortino ratio Return per unit of downside risk	3.03	5.16	-2.13
Omega ratio Gain probability vs. loss probability	1.36	1.68	-0.32
Calmar ratio Return relative to maximum drawdown	3.28	6.06	-2.79
Martin ratio Return relative to average drawdown	11.06	24.28	-13.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYVVX vs. VALAX - Sharpe Ratio Comparison

The current RYVVX Sharpe Ratio is 2.09, which is lower than the VALAX Sharpe Ratio of 3.85. The chart below compares the historical Sharpe Ratios of RYVVX and VALAX, 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

	RYVVX	VALAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	3.85	-1.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.65	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.74	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.43	-0.20

Drawdowns

RYVVX vs. VALAX - Drawdown Comparison

The maximum RYVVX drawdown since its inception was -82.48%, which is greater than VALAX's maximum drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for RYVVX and VALAX.

Drawdown Indicators

	RYVVX	VALAX	Difference
Max Drawdown Largest peak-to-trough decline	-82.48%	-61.26%	-21.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-8.56%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-25.81%	+9.96%
Max Drawdown (5Y) Largest decline over 5 years	-23.78%	-25.81%	+2.03%
Max Drawdown (10Y) Largest decline over 10 years	-51.41%	-38.22%	-13.19%
Current Drawdown Current decline from peak	0.00%	-0.03%	+0.03%
Average Drawdown Average peak-to-trough decline	-16.97%	-10.75%	-6.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.14%	+0.22%

Volatility

RYVVX vs. VALAX - Volatility Comparison

The current volatility for Rydex S&P 500 Pure Value Fund (RYVVX) is 2.57%, while Al Frank Fund (VALAX) has a volatility of 4.05%. This indicates that RYVVX experiences smaller price fluctuations and is considered to be less risky than VALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYVVX	VALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	4.05%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	10.68%	-2.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	13.65%	-1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	17.77%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.89%	19.34%	+2.55%

RYVVX vs. VALAX - Expense Ratio Comparison

RYVVX has a 2.26% expense ratio, which is higher than VALAX's 1.24% expense ratio.

Dividends

RYVVX vs. VALAX - Dividend Comparison

RYVVX's dividend yield for the trailing twelve months is around 0.22%, less than VALAX's 7.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYVVX Rydex S&P 500 Pure Value Fund	0.22%	0.25%	1.16%	2.24%	2.86%	2.87%	1.13%	1.17%	10.39%	1.30%	1.04%	9.15%
VALAX Al Frank Fund	7.12%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Frequently Asked Questions

Can I hold both RYVVX and VALAX in my portfolio?

RYVVX and VALAX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYVVX or VALAX?

VALAX has higher volatility (4.05%) compared to RYVVX (2.57%). In terms of maximum drawdown, RYVVX dropped -82.48% vs VALAX's -61.26%.

Which has better risk-adjusted returns?

VALAX currently has the higher Sharpe Ratio (3.85 vs 2.09), 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.