UAPIX vs. RMQHX

Last updated Jul 11, 2026

UAPIX (ProFunds UltraSmall Cap Fund) and RMQHX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy H) are both Leveraged Equities funds. Over the past 10 years, UAPIX returned 11.17%/yr vs 36.42%/yr for RMQHX. A 0.70 correlation means they provide meaningful diversification when combined. UAPIX charges 1.60%/yr vs 1.27%/yr for RMQHX.

Performance

UAPIX vs. RMQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSmall Cap Fund (UAPIX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy H (RMQHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAPIX achieves a 39.71% return, which is significantly higher than RMQHX's 31.08% return. Over the past 10 years, UAPIX has underperformed RMQHX with an annualized return of 11.17%, while RMQHX has yielded a comparatively higher 36.42% annualized return.

UAPIX

• 1D: 2.46%
• 1M: 2.92%
• 6M: 25.26%
• YTD: 39.71%
• 1Y: 66.43%
• 3Y*: 24.17%
• 5Y*: 2.60%
• 10Y*: 11.17%

RMQHX

• 1D: 3.35%
• 1M: 0.27%
• 6M: 26.14%
• YTD: 31.08%
• 1Y: 56.42%
• 3Y*: 44.97%
• 5Y*: 21.23%
• 10Y*: 36.42%

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

UAPIX vs. RMQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAPIX ProFunds UltraSmall Cap Fund	39.71%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%
RMQHX Rydex Monthly Rebalance NASDAQ-100 2x Strategy H	31.08%	33.90%	44.74%	115.89%	-59.96%	56.33%	101.06%	80.70%	-7.28%	69.79%

Correlation

The correlation between UAPIX and RMQHX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.70

The correlation between UAPIX and RMQHX has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

UAPIX vs. RMQHX — Risk / Return Rank

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

UAPIX

UAPIX Risk / Return Rank: 58
UAPIX Sharpe Ratio Rank: 54
UAPIX Sortino Ratio Rank: 50
UAPIX Omega Ratio Rank: 42
UAPIX Calmar Ratio Rank: 78
UAPIX Martin Ratio Rank: 65

RMQHX

RMQHX Risk / Return Rank: 44
RMQHX Sharpe Ratio Rank: 45
RMQHX Sortino Ratio Rank: 39
RMQHX Omega Ratio Rank: 41
RMQHX Calmar Ratio Rank: 52
RMQHX Martin Ratio Rank: 45

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.

UAPIX vs. RMQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSmall Cap Fund (UAPIX) and Rydex Monthly Rebalance NASDAQ-100 2x Strategy H (RMQHX). 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.

	UAPIX	RMQHX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.50	+0.15
Sortino ratio: Return per unit of downside risk	2.25	1.99	+0.26
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.87	2.22	+0.65
Martin ratio: Return relative to average drawdown	9.74	7.60	+2.14

UAPIX vs. RMQHX - Sharpe Ratio Comparison

The current UAPIX Sharpe Ratio is 1.64, which is comparable to the RMQHX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of UAPIX and RMQHX, 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

UAPIX vs. RMQHX - Drawdown Comparison

The maximum UAPIX drawdown since its inception was -88.51%, which is greater than RMQHX's maximum drawdown of -63.21%. Use the drawdown chart below to compare losses from any high point for UAPIX and RMQHX.

Drawdown Indicators

	UAPIX	RMQHX	Difference
Max Drawdown Largest peak-to-trough decline	-88.51%	-63.21%	-25.30%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-24.97%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-42.46%	-7.40%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-63.21%	+1.39%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-63.21%	-8.97%
Current Drawdown Current decline from peak	-2.27%	-6.46%	+4.19%
Average Drawdown Average peak-to-trough decline	-35.92%	-12.81%	-23.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.56%	7.28%	-0.72%

Volatility

UAPIX vs. RMQHX - Volatility Comparison

The current volatility for ProFunds UltraSmall Cap Fund (UAPIX) is 9.56%, while Rydex Monthly Rebalance NASDAQ-100 2x Strategy H (RMQHX) has a volatility of 17.49%. This indicates that UAPIX experiences smaller price fluctuations and is considered to be less risky than RMQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAPIX	RMQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.56%	17.49%	-7.93%
Volatility (6M) Calculated over the trailing 6-month period	28.35%	30.58%	-2.23%
Volatility (1Y) Calculated over the trailing 1-year period	39.04%	37.12%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.25%	46.98%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.43%	46.68%	-0.25%

UAPIX vs. RMQHX - Expense Ratio Comparison

UAPIX has a 1.60% expense ratio, which is higher than RMQHX's 1.27% expense ratio.

Dividends

UAPIX vs. RMQHX - Dividend Comparison

UAPIX's dividend yield for the trailing twelve months is around 0.34%, less than RMQHX's 26.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
RMQHX Rydex Monthly Rebalance NASDAQ-100 2x Strategy H	26.53%	34.77%	25.22%	3.66%	0.00%	2.13%	5.17%	0.10%	0.00%
UAPIX ProFunds UltraSmall Cap Fund	0.34%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%

Frequently Asked Questions

Can I hold both UAPIX and RMQHX in my portfolio?

UAPIX and RMQHX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UAPIX or RMQHX?

RMQHX has higher volatility (17.49%) compared to UAPIX (9.56%). In terms of maximum drawdown, UAPIX dropped -88.51% vs RMQHX's -63.21%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (1.64 vs 1.50), 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.