RYWTX vs. RYTPX

Last updated Jun 24, 2026

RYWTX (Rydex Emerging Markets 2x Strategy Fund) and RYTPX (Rydex Inverse S&P 500 2x Strategy Fund) are both mutual funds - RYWTX is a Leveraged Equities fund managed by Rydex Funds, while RYTPX is a Inverse Equities fund managed by Rydex Funds. Over the past 10 years, RYWTX returned 10.12%/yr vs -17.73%/yr for RYTPX. At a correlation of -0.67, they often move in opposite directions. RYWTX charges 1.82%/yr vs 2.16%/yr for RYTPX.

Performance

RYWTX vs. RYTPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Emerging Markets 2x Strategy Fund (RYWTX) and Rydex Inverse S&P 500 2x Strategy Fund (RYTPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYWTX achieves a 3.72% return, which is significantly higher than RYTPX's -14.86% return. Over the past 10 years, RYWTX has outperformed RYTPX with an annualized return of 10.12%, while RYTPX has yielded a comparatively lower -17.73% 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%

RYTPX

• 1D: 0.77%
• 1M: 1.34%
• YTD: -14.86%
• 6M: -13.13%
• 1Y: -31.92%
• 3Y*: -27.68%
• 5Y*: -21.83%
• 10Y*: -17.73%

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

RYWTX vs. RYTPX - 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%
RYTPX Rydex Inverse S&P 500 2x Strategy Fund	-14.86%	-27.24%	-29.24%	-31.96%	29.31%	-43.38%	-50.05%	-41.84%	4.42%	-32.54%

Correlation

The correlation between RYWTX and RYTPX is -0.66, 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	-0.66
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	-0.66
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011	-0.67

The correlation between RYWTX and RYTPX has been stable across timeframes, ranging from -0.67 to -0.63 - a consistent structural relationship.

Return for Risk

RYWTX vs. RYTPX — Risk / Return Rank

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

RYWTX

RYWTX Risk / Return Rank: 17
RYWTX Sharpe Ratio Rank: 16
RYWTX Sortino Ratio Rank: 17
RYWTX Omega Ratio Rank: 17
RYWTX Calmar Ratio Rank: 19
RYWTX Martin Ratio Rank: 16

RYTPX

RYTPX Risk / Return Rank: 0
RYTPX Sharpe Ratio Rank: 0
RYTPX Sortino Ratio Rank: 0
RYTPX Omega Ratio Rank: 0
RYTPX Calmar Ratio Rank: 0
RYTPX 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.

RYWTX vs. RYTPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Emerging Markets 2x Strategy Fund (RYWTX) and Rydex Inverse S&P 500 2x Strategy Fund (RYTPX). 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	RYTPX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	-1.34	+2.37
Sortino ratio: Return per unit of downside risk	1.59	-2.06	+3.64
Omega ratio: Gain probability vs. loss probability	1.20	0.78	+0.42
Calmar ratio: Return relative to maximum drawdown	1.47	-0.98	+2.44
Martin ratio: Return relative to average drawdown	3.92	-1.66	+5.57

RYWTX vs. RYTPX - Sharpe Ratio Comparison

The current RYWTX Sharpe Ratio is 1.03, which is higher than the RYTPX Sharpe Ratio of -1.34. The chart below compares the historical Sharpe Ratios of RYWTX and RYTPX, 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

RYWTX vs. RYTPX - Drawdown Comparison

The maximum RYWTX drawdown since its inception was -78.47%, smaller than the maximum RYTPX drawdown of -99.92%. Use the drawdown chart below to compare losses from any high point for RYWTX and RYTPX.

Drawdown Indicators

	RYWTX	RYTPX	Difference
Max Drawdown Largest peak-to-trough decline	-78.47%	-99.92%	+21.45%
Max Drawdown (1Y) Largest decline over 1 year	-30.01%	-32.67%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-37.38%	-68.03%	+30.65%
Max Drawdown (5Y) Largest decline over 5 years	-71.48%	-75.66%	+4.18%
Max Drawdown (10Y) Largest decline over 10 years	-78.47%	-96.56%	+18.09%
Current Drawdown Current decline from peak	-35.01%	-99.92%	+64.91%
Average Drawdown Average peak-to-trough decline	-49.79%	-82.33%	+32.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.23%	21.45%	-10.22%

Volatility

RYWTX vs. RYTPX - Volatility Comparison

Rydex Emerging Markets 2x Strategy Fund (RYWTX) has a higher volatility of 14.58% compared to Rydex Inverse S&P 500 2x Strategy Fund (RYTPX) at 9.17%. This indicates that RYWTX's price experiences larger fluctuations and is considered to be riskier than RYTPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYWTX	RYTPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.58%	9.17%	+5.41%
Volatility (6M) Calculated over the trailing 6-month period	34.63%	19.67%	+14.96%
Volatility (1Y) Calculated over the trailing 1-year period	42.79%	24.97%	+17.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.28%	33.93%	+14.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.71%	290.10%	-243.39%

RYWTX vs. RYTPX - Expense Ratio Comparison

RYWTX has a 1.82% expense ratio, which is lower than RYTPX's 2.16% expense ratio.

Dividends

RYWTX vs. RYTPX - Dividend Comparison

RYWTX's dividend yield for the trailing twelve months is around 0.81%, less than RYTPX's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYTPX Rydex Inverse S&P 500 2x Strategy Fund	6.04%	5.15%	6.90%	3.35%	0.00%	0.00%	0.00%	0.23%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both RYWTX and RYTPX in my portfolio?

RYWTX and RYTPX have a correlation of -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYWTX or RYTPX?

RYWTX has higher volatility (14.58%) compared to RYTPX (9.17%). In terms of maximum drawdown, RYWTX dropped -78.47% vs RYTPX's -99.92%.

Which has better risk-adjusted returns?

RYWTX currently has the higher Sharpe Ratio (1.03 vs -1.34), 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.