RYWWX vs. SHPIX
RYWWX (Rydex Inverse Emerging Markets 2x Strategy Fund) and SHPIX (ProFunds Short Small Cap ProFund) are both Inverse Equities funds. Over the past 10 years, RYWWX returned -26.08%/yr vs 9.98%/yr for SHPIX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. RYWWX charges 1.87%/yr vs 1.78%/yr for SHPIX.
Performance
RYWWX vs. SHPIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RYWWX achieves a -11.52% return, which is significantly higher than SHPIX's -15.64% return. Over the past 10 years, RYWWX has underperformed SHPIX with an annualized return of -26.08%, while SHPIX has yielded a comparatively higher 9.98% 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%
SHPIX
- 1D
- -1.37%
- 1M
- 1.92%
- 6M
- -11.34%
- YTD
- -15.64%
- 1Y
- -25.87%
- 3Y*
- 11.75%
- 5Y*
- 47.30%
- 10Y*
- 9.98%
- ALL TIME*
- -5.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RYWWX vs. SHPIX - 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% |
SHPIX ProFunds Short Small Cap ProFund | -15.64% | -9.61% | 83.27% | 344.97% | 16.39% | -19.78% | -31.60% | -20.89% | 9.96% | -14.49% |
Correlation
The correlation between RYWWX and SHPIX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.64 |
The correlation between RYWWX and SHPIX has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RYWWX vs. SHPIX — Risk / Return Rank
RYWWX
SHPIX
RYWWX vs. SHPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rydex Inverse Emerging Markets 2x Strategy Fund (RYWWX) and ProFunds Short Small Cap ProFund (SHPIX). 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 | SHPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.81 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.85 | +0.07 |
| Martin ratioReturn relative to average drawdown | -1.08 | -1.36 | +0.29 |
Loading charts...
Drawdowns
RYWWX vs. SHPIX - Drawdown Comparison
The maximum RYWWX drawdown since its inception was -98.12%, roughly equal to the maximum SHPIX drawdown of -96.86%. Use the drawdown chart below to compare losses from any high point for RYWWX and SHPIX.
Loading charts...
Drawdown Indicators
| RYWWX | SHPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.12% | -96.86% | -1.26% |
Max Drawdown (1Y)Largest decline over 1 year | -42.47% | -27.97% | -14.50% |
Max Drawdown (3Y)Largest decline over 3 years | -75.97% | -41.50% | -34.47% |
Max Drawdown (5Y)Largest decline over 5 years | -84.06% | -41.50% | -42.56% |
Max Drawdown (10Y)Largest decline over 10 years | -95.68% | -68.01% | -27.67% |
Current DrawdownCurrent decline from peak | -97.87% | -75.54% | -22.33% |
Average DrawdownAverage peak-to-trough decline | -68.89% | -74.99% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.63% | 17.35% | +13.28% |
Volatility
RYWWX vs. SHPIX - Volatility Comparison
Rydex Inverse Emerging Markets 2x Strategy Fund (RYWWX) has a higher volatility of 13.36% compared to ProFunds Short Small Cap ProFund (SHPIX) at 3.81%. This indicates that RYWWX's price experiences larger fluctuations and is considered to be riskier than SHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| RYWWX | SHPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.36% | 3.81% | +9.55% |
Volatility (6M)Calculated over the trailing 6-month period | 35.51% | 14.14% | +21.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.19% | 19.37% | +24.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.95% | 189.00% | -141.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.58% | 134.62% | -88.04% |
RYWWX vs. SHPIX - Expense Ratio Comparison
RYWWX has a 1.87% expense ratio, which is higher than SHPIX's 1.78% expense ratio.
Dividends
RYWWX vs. SHPIX - Dividend Comparison
RYWWX's dividend yield for the trailing twelve months is around 5.65%, less than SHPIX's 32.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYWWX Rydex Inverse Emerging Markets 2x Strategy Fund | 5.65% | 5.00% | 5.36% | 3.28% | 0.00% | 0.00% | 0.00% | 1.06% |
SHPIX ProFunds Short Small Cap ProFund | 32.81% | 5.70% | 0.00% | 17.01% | 0.00% | 0.00% | 0.00% | 0.85% |
Frequently Asked Questions
RYWWX and SHPIX have a correlation of 0.61, 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 SHPIX (3.81%). In terms of maximum drawdown, RYWWX dropped -98.12% vs SHPIX's -96.86%.
RYWWX currently has the higher Sharpe Ratio (-0.75 vs -1.23), 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.
Find the right allocation for RYWWX and SHPIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer