RYYCX vs. DHSIX

Last updated Jul 14, 2026

RYYCX (Rydex S&P SmallCap 600 Pure Value Fund) and DHSIX (Diamond Hill Small Cap Fund Class I) are both Small Cap Value Equities funds. Over the past 10 years, RYYCX returned 7.57%/yr vs 10.71%/yr for DHSIX. Their correlation of 0.89 suggests significant overlap in exposure. RYYCX charges 2.26%/yr vs 0.97%/yr for DHSIX.

Performance

RYYCX vs. DHSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex S&P SmallCap 600 Pure Value Fund (RYYCX) and Diamond Hill Small Cap Fund Class I (DHSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYYCX achieves a 22.64% return, which is significantly lower than DHSIX's 25.26% return. Over the past 10 years, RYYCX has underperformed DHSIX with an annualized return of 7.57%, while DHSIX has yielded a comparatively higher 10.71% annualized return.

RYYCX

• 1D: 0.90%
• 1M: 0.85%
• 6M: 14.56%
• YTD: 22.64%
• 1Y: 30.90%
• 3Y*: 14.58%
• 5Y*: 8.34%
• 10Y*: 7.57%

DHSIX

• 1D: 0.25%
• 1M: 2.56%
• 6M: 18.19%
• YTD: 25.26%
• 1Y: 35.20%
• 3Y*: 20.14%
• 5Y*: 12.99%
• 10Y*: 10.71%

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

RYYCX vs. DHSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYYCX Rydex S&P SmallCap 600 Pure Value Fund	22.64%	5.81%	2.73%	20.36%	-9.15%	42.14%	-7.85%	18.86%	-21.05%	-1.70%
DHSIX Diamond Hill Small Cap Fund Class I	25.26%	11.83%	13.10%	24.25%	-14.85%	32.69%	-0.27%	21.83%	-15.00%	10.89%

Correlation

The correlation between RYYCX and DHSIX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Apr 29, 2005	0.89

The correlation between RYYCX and DHSIX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Return for Risk

RYYCX vs. DHSIX — Risk / Return Rank

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

RYYCX

RYYCX Risk / Return Rank: 46
RYYCX Sharpe Ratio Rank: 43
RYYCX Sortino Ratio Rank: 46
RYYCX Omega Ratio Rank: 39
RYYCX Calmar Ratio Rank: 58
RYYCX Martin Ratio Rank: 45

DHSIX

DHSIX Risk / Return Rank: 66
DHSIX Sharpe Ratio Rank: 60
DHSIX Sortino Ratio Rank: 65
DHSIX Omega Ratio Rank: 52
DHSIX Calmar Ratio Rank: 83
DHSIX Martin Ratio Rank: 67

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.

RYYCX vs. DHSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex S&P SmallCap 600 Pure Value Fund (RYYCX) and Diamond Hill Small Cap Fund Class I (DHSIX). 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.

	RYYCX	DHSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.72	-0.26
Sortino ratio: Return per unit of downside risk	2.17	2.55	-0.38
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	2.33	3.10	-0.77
Martin ratio: Return relative to average drawdown	7.55	9.97	-2.42

RYYCX vs. DHSIX - Sharpe Ratio Comparison

The current RYYCX Sharpe Ratio is 1.46, which is comparable to the DHSIX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of RYYCX and DHSIX, 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

RYYCX vs. DHSIX - Drawdown Comparison

The maximum RYYCX drawdown since its inception was -78.51%, which is greater than DHSIX's maximum drawdown of -52.83%. Use the drawdown chart below to compare losses from any high point for RYYCX and DHSIX.

Drawdown Indicators

	RYYCX	DHSIX	Difference
Max Drawdown Largest peak-to-trough decline	-78.51%	-52.83%	-25.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.78%	-10.97%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-30.24%	-28.33%	-1.91%
Max Drawdown (5Y) Largest decline over 5 years	-30.24%	-28.33%	-1.91%
Max Drawdown (10Y) Largest decline over 10 years	-62.25%	-45.96%	-16.29%
Current Drawdown Current decline from peak	-1.53%	-3.24%	+1.71%
Average Drawdown Average peak-to-trough decline	-16.54%	-8.34%	-8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	3.42%	+0.53%

Volatility

RYYCX vs. DHSIX - Volatility Comparison

The current volatility for Rydex S&P SmallCap 600 Pure Value Fund (RYYCX) is 5.34%, while Diamond Hill Small Cap Fund Class I (DHSIX) has a volatility of 5.75%. This indicates that RYYCX experiences smaller price fluctuations and is considered to be less risky than DHSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYYCX	DHSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	5.75%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	14.06%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.44%	19.82%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	21.48%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.15%	22.20%	+4.95%

RYYCX vs. DHSIX - Expense Ratio Comparison

RYYCX has a 2.26% expense ratio, which is higher than DHSIX's 0.97% expense ratio.

Dividends

RYYCX vs. DHSIX - Dividend Comparison

RYYCX's dividend yield for the trailing twelve months is around 0.02%, less than DHSIX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHSIX Diamond Hill Small Cap Fund Class I	4.58%	5.74%	15.81%	30.09%	18.06%	17.39%	0.61%	7.13%	10.46%	6.90%	2.68%	1.95%
RYYCX Rydex S&P SmallCap 600 Pure Value Fund	0.02%	0.02%	0.00%	1.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RYYCX and DHSIX in my portfolio?

RYYCX and DHSIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYYCX or DHSIX?

DHSIX has higher volatility (5.75%) compared to RYYCX (5.34%). In terms of maximum drawdown, RYYCX dropped -78.51% vs DHSIX's -52.83%.

Which has better risk-adjusted returns?

DHSIX currently has the higher Sharpe Ratio (1.72 vs 1.46), 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.