RYWTX vs. RYNVX
RYWTX (Rydex Emerging Markets 2x Strategy Fund) and RYNVX (Rydex Nova Fund) are both Leveraged Equities funds from Rydex Funds. Over the past 10 years, RYWTX returned 10.12%/yr vs 19.30%/yr for RYNVX. A 0.71 correlation means they provide meaningful diversification when combined. RYWTX charges 1.82%/yr vs 1.23%/yr for RYNVX.
Performance
RYWTX vs. RYNVX - Performance Comparison
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Returns By Period
In the year-to-date period, RYWTX achieves a 3.72% return, which is significantly lower than RYNVX's 12.57% return. Over the past 10 years, RYWTX has underperformed RYNVX with an annualized return of 10.12%, while RYNVX has yielded a comparatively higher 19.30% annualized return.
RYWTX
- 1D
- 1.36%
- 1M
- -0.88%
- YTD
- 3.72%
- 6M
- 3.11%
- 1Y
- 42.23%
- 3Y*
- 26.74%
- 5Y*
- -1.44%
- 10Y*
- 10.12%
RYNVX
- 1D
- -0.56%
- 1M
- -0.33%
- YTD
- 12.57%
- 6M
- 10.96%
- 1Y
- 34.48%
- 3Y*
- 27.32%
- 5Y*
- 15.43%
- 10Y*
- 19.30%
RYWTX vs. RYNVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYWTX Rydex Emerging Markets 2x Strategy Fund | 3.72% | 69.22% | 5.96% | 21.59% | -37.87% | -36.42% | 45.21% | 48.35% | -32.80% | 74.71% |
RYNVX Rydex Nova Fund | 12.57% | 21.42% | 33.14% | 35.31% | -29.96% | 42.56% | 19.64% | 45.58% | -10.24% | 31.17% |
Correlation
The correlation between RYWTX and RYNVX 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 | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.71 |
The correlation between RYWTX and RYNVX has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
RYWTX vs. RYNVX — Risk / Return Rank
RYWTX
RYNVX
RYWTX vs. RYNVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Emerging Markets 2x Strategy Fund (RYWTX) and Rydex Nova Fund (RYNVX). 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.
| RYWTX | RYNVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.34 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.64 | -1.17 |
| Martin ratioReturn relative to average drawdown | 3.92 | 11.49 | -7.57 |
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Drawdowns
RYWTX vs. RYNVX - Drawdown Comparison
The maximum RYWTX drawdown since its inception was -78.47%, roughly equal to the maximum RYNVX drawdown of -76.54%. Use the drawdown chart below to compare losses from any high point for RYWTX and RYNVX.
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Drawdown Indicators
| RYWTX | RYNVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.47% | -76.54% | -1.93% |
Max Drawdown (1Y)Largest decline over 1 year | -30.01% | -13.84% | -16.17% |
Max Drawdown (3Y)Largest decline over 3 years | -37.38% | -27.49% | -9.89% |
Max Drawdown (5Y)Largest decline over 5 years | -71.48% | -40.92% | -30.56% |
Max Drawdown (10Y)Largest decline over 10 years | -78.47% | -48.58% | -29.89% |
Current DrawdownCurrent decline from peak | -35.01% | -2.95% | -32.06% |
Average DrawdownAverage peak-to-trough decline | -49.79% | -19.60% | -30.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.23% | 3.18% | +8.05% |
Volatility
RYWTX vs. RYNVX - Volatility Comparison
Rydex Emerging Markets 2x Strategy Fund (RYWTX) has a higher volatility of 14.58% compared to Rydex Nova Fund (RYNVX) at 7.09%. This indicates that RYWTX's price experiences larger fluctuations and is considered to be riskier than RYNVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RYWTX | RYNVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.58% | 7.09% | +7.49% |
Volatility (6M)Calculated over the trailing 6-month period | 34.63% | 14.80% | +19.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.79% | 18.77% | +24.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.28% | 26.09% | +22.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.71% | 27.46% | +19.25% |
RYWTX vs. RYNVX - Expense Ratio Comparison
RYWTX has a 1.82% expense ratio, which is higher than RYNVX's 1.23% expense ratio.
Dividends
RYWTX vs. RYNVX - Dividend Comparison
RYWTX's dividend yield for the trailing twelve months is around 0.81%, more than RYNVX's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYNVX Rydex Nova Fund | 0.67% | 0.76% | 0.66% | 0.59% | 22.11% | 9.07% | 0.53% | 0.00% | 0.00% | 1.97% | 1.22% | 0.13% |
RYWTX Rydex Emerging Markets 2x Strategy Fund | 0.81% | 0.84% | 3.90% | 2.14% | 0.00% | 0.00% | 0.00% | 0.58% | 0.00% | 0.00% | 0.00% | 1.59% |
Frequently Asked Questions
RYWTX and RYNVX 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.
RYWTX has higher volatility (14.58%) compared to RYNVX (7.09%). In terms of maximum drawdown, RYWTX dropped -78.47% vs RYNVX's -76.54%.
RYNVX currently has the higher Sharpe Ratio (1.95 vs 1.03), 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.
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