RYWWX vs. RYNVX
RYWWX (Rydex Inverse Emerging Markets 2x Strategy Fund) and RYNVX (Rydex Nova Fund) are both mutual funds - RYWWX is a Inverse Equities fund managed by Rydex Funds, while RYNVX is a Leveraged Equities fund managed by Rydex Funds. Over the past 10 years, RYWWX returned -26.08%/yr vs 18.04%/yr for RYNVX. Their -0.71 correlation means they have often moved in opposite directions in the past. RYWWX charges 1.87%/yr vs 1.23%/yr for RYNVX.
Performance
RYWWX vs. RYNVX - Performance Comparison
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Returns By Period
In the year-to-date period, RYWWX achieves a -11.52% return, which is significantly lower than RYNVX's 11.40% return. Over the past 10 years, RYWWX has underperformed RYNVX with an annualized return of -26.08%, while RYNVX has yielded a comparatively higher 18.04% annualized return.
RYWWX
- 1D
- -6.74%
- 1M
- -4.78%
- 6M
- 2.89%
- YTD
- -11.52%
- 1Y
- -34.70%
- 3Y*
- -28.35%
- 5Y*
- -20.73%
- 10Y*
- -26.08%
- ALL TIME*
- -19.84%
RYNVX
- 1D
- 2.46%
- 1M
- -1.13%
- 6M
- 9.37%
- YTD
- 11.40%
- 1Y
- 26.72%
- 3Y*
- 23.61%
- 5Y*
- 13.98%
- 10Y*
- 18.04%
- ALL TIME*
- 11.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
RYNVX Rydex Nova Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
RYWWX vs. RYNVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RYWWX Rydex Inverse Emerging Markets 2x Strategy Fund | -11.52% | -51.31% | -17.03% | -28.06% | 2.55% | 17.09% | -57.70% | -39.99% | 23.02% | -47.98% |
RYNVX Rydex Nova Fund | 11.40% | 21.42% | 33.14% | 35.31% | -29.96% | 42.56% | 19.64% | 45.58% | -10.24% | 31.17% |
Correlation
The correlation between RYWWX and RYNVX is -0.70, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.70 |
Correlation (3Y) Balances recent behavior with more history. | -0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | -0.71 |
The correlation between RYWWX and RYNVX has been stable across timeframes, ranging from -0.71 to -0.65 - a consistent structural relationship.
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Return for Risk
RYWWX vs. RYNVX — Risk / Return Rank
RYWWX
RYNVX
RYWWX vs. RYNVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Emerging Markets 2x Strategy Fund (RYWWX) 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.
| RYWWX | RYNVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.22 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 1.67 | -2.44 |
| Martin ratioReturn relative to average drawdown | -1.08 | 6.82 | -7.89 |
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Drawdowns
RYWWX vs. RYNVX - Drawdown Comparison
The maximum RYWWX drawdown since its inception was -98.12%, which is greater than RYNVX's maximum drawdown of -76.54%. Use the drawdown chart below to compare losses from any high point for RYWWX and RYNVX.
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Drawdown Indicators
| RYWWX | RYNVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.12% | -76.54% | -21.58% |
Max Drawdown (1Y)Largest decline over 1 year | -42.47% | -13.84% | -28.63% |
Max Drawdown (3Y)Largest decline over 3 years | -75.97% | -27.49% | -48.48% |
Max Drawdown (5Y)Largest decline over 5 years | -84.06% | -40.92% | -43.14% |
Max Drawdown (10Y)Largest decline over 10 years | -95.68% | -48.58% | -47.10% |
Current DrawdownCurrent decline from peak | -97.87% | -3.97% | -93.90% |
Average DrawdownAverage peak-to-trough decline | -68.89% | -19.54% | -49.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.63% | 3.38% | +27.25% |
Volatility
RYWWX vs. RYNVX - Volatility Comparison
Rydex Inverse Emerging Markets 2x Strategy Fund (RYWWX) has a higher volatility of 13.36% compared to Rydex Nova Fund (RYNVX) at 5.16%. This indicates that RYWWX'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
| RYWWX | RYNVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.36% | 5.16% | +8.20% |
Volatility (6M)Calculated over the trailing 6-month period | 35.51% | 15.18% | +20.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.19% | 19.30% | +24.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.95% | 26.12% | +21.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.58% | 27.40% | +19.18% |
RYWWX vs. RYNVX - Expense Ratio Comparison
RYWWX has a 1.87% expense ratio, which is higher than RYNVX's 1.23% expense ratio.
Dividends
RYWWX vs. RYNVX - Dividend Comparison
RYWWX's dividend yield for the trailing twelve months is around 5.65%, more than RYNVX's 0.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RYNVX Rydex Nova Fund | 0.68% | 0.76% | 0.66% | 0.59% | 22.11% | 9.07% | 0.53% | 0.00% | 0.00% | 1.97% | 1.22% | 0.13% |
RYWWX Rydex Inverse Emerging Markets 2x Strategy Fund | 5.65% | 5.00% | 5.36% | 3.28% | 0.00% | 0.00% | 0.00% | 1.06% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RYWWX and RYNVX have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RYWWX has higher volatility (13.36%) compared to RYNVX (5.16%). In terms of maximum drawdown, RYWWX dropped -98.12% vs RYNVX's -76.54%.
RYNVX currently has the higher Sharpe Ratio (1.19 vs -0.75), 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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