SOPIX vs. RYAIX

Last updated Jun 4, 2026

SOPIX (ProFunds Short NASDAQ-100 Fund) and RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) are both Inverse Equities funds. Over the past 10 years, SOPIX returned -20.74%/yr vs -19.29%/yr for RYAIX. With a 0.99 correlation, they move nearly in lockstep. SOPIX charges 1.78%/yr vs 1.55%/yr for RYAIX.

Performance

SOPIX vs. RYAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Short NASDAQ-100 Fund (SOPIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SOPIX having a -16.96% return and RYAIX slightly lower at -17.50%. Over the past 10 years, SOPIX has underperformed RYAIX with an annualized return of -20.74%, while RYAIX has yielded a comparatively higher -19.29% annualized return.

SOPIX

• 1D: -0.46%
• 1M: -9.63%
• YTD: -16.96%
• 6M: -15.51%
• 1Y: -27.05%
• 3Y*: -21.92%
• 5Y*: -17.02%
• 10Y*: -20.74%

RYAIX

• 1D: -0.46%
• 1M: -9.69%
• YTD: -17.50%
• 6M: -16.04%
• 1Y: -27.23%
• 3Y*: -19.27%
• 5Y*: -15.08%
• 10Y*: -19.29%

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

SOPIX vs. RYAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOPIX ProFunds Short NASDAQ-100 Fund	-16.96%	-15.80%	-23.82%	-31.85%	34.73%	-25.69%	-42.92%	-28.29%	-3.07%	-25.24%
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	-17.50%	-15.63%	-15.64%	-31.71%	35.92%	-24.88%	-40.98%	-27.65%	-2.63%	-24.47%

Correlation

The correlation between SOPIX and RYAIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 3, 2003	0.99

The correlation between SOPIX and RYAIX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

SOPIX vs. RYAIX — Risk / Return Rank

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

SOPIX

SOPIX Risk / Return Rank: 0
SOPIX Sharpe Ratio Rank: 0
SOPIX Sortino Ratio Rank: 0
SOPIX Omega Ratio Rank: 0
SOPIX Calmar Ratio Rank: 0
SOPIX Martin Ratio Rank: 0

RYAIX

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

SOPIX vs. RYAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Short NASDAQ-100 Fund (SOPIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). 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.

	SOPIX	RYAIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.73	-1.73	-0.01
Sortino ratio: Return per unit of downside risk	-2.60	-2.58	-0.02
Omega ratio: Gain probability vs. loss probability	0.73	0.73	0.00
Calmar ratio: Return relative to maximum drawdown	-1.01	-1.01	0.00
Martin ratio: Return relative to average drawdown	-2.19	-2.23	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOPIX vs. RYAIX - Sharpe Ratio Comparison

The current SOPIX Sharpe Ratio is -1.73, which is comparable to the RYAIX Sharpe Ratio of -1.73. The chart below compares the historical Sharpe Ratios of SOPIX and RYAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SOPIX	RYAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.73	-1.73	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.73	-0.66	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.92	-0.85	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	-0.81	-0.17	-0.64

Drawdowns

SOPIX vs. RYAIX - Drawdown Comparison

The maximum SOPIX drawdown since its inception was -99.07%, roughly equal to the maximum RYAIX drawdown of -98.93%. Use the drawdown chart below to compare losses from any high point for SOPIX and RYAIX.

Drawdown Indicators

	SOPIX	RYAIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.07%	-98.93%	-0.14%
Max Drawdown (1Y) Largest decline over 1 year	-27.45%	-27.64%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-54.87%	-50.13%	-4.74%
Max Drawdown (5Y) Largest decline over 5 years	-65.00%	-61.15%	-3.85%
Max Drawdown (10Y) Largest decline over 10 years	-90.86%	-89.04%	-1.82%
Current Drawdown Current decline from peak	-99.07%	-98.93%	-0.14%
Average Drawdown Average peak-to-trough decline	-76.14%	-73.29%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.80%	12.65%	+0.15%

Volatility

SOPIX vs. RYAIX - Volatility Comparison

ProFunds Short NASDAQ-100 Fund (SOPIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) have volatilities of 4.53% and 4.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOPIX	RYAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.52%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	12.16%	12.35%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	16.01%	16.17%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.38%	22.86%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.49%	22.66%	-0.17%

SOPIX vs. RYAIX - Expense Ratio Comparison

SOPIX has a 1.78% expense ratio, which is higher than RYAIX's 1.55% expense ratio.

Dividends

SOPIX vs. RYAIX - Dividend Comparison

SOPIX's dividend yield for the trailing twelve months is around 2.58%, less than RYAIX's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	2.70%	2.23%	5.67%	4.81%	0.00%	0.00%	0.09%	0.72%
SOPIX ProFunds Short NASDAQ-100 Fund	2.58%	2.14%	0.00%	6.71%	0.00%	0.00%	0.00%	0.29%

Frequently Asked Questions

Can I hold both SOPIX and RYAIX in my portfolio?

With a correlation of 1.00, SOPIX and RYAIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SOPIX or RYAIX?

SOPIX has higher volatility (4.53%) compared to RYAIX (4.52%). In terms of maximum drawdown, SOPIX dropped -99.07% vs RYAIX's -98.93%.

Which has better risk-adjusted returns?

RYAIX currently has the higher Sharpe Ratio (-1.73 vs -1.73), 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.