UAPIX vs. RYRUX

Last updated Aug 1, 2026

UAPIX (ProFunds UltraSmall Cap Fund) and RYRUX (Rydex Russell 2000 2x Strategy Fund) are both Leveraged Equities funds. Over the past 10 years, UAPIX returned 10.24%/yr vs 10.46%/yr for RYRUX. Their 0.99 correlation means they have historically moved very closely together. UAPIX charges 1.60%/yr vs 1.86%/yr for RYRUX.

Performance

UAPIX vs. RYRUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSmall Cap Fund (UAPIX) and Rydex Russell 2000 2x Strategy Fund (RYRUX). 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 UAPIX having a 34.82% return and RYRUX slightly lower at 34.42%. Both investments have delivered pretty close results over the past 10 years, with UAPIX having a 10.24% annualized return and RYRUX not far ahead at 10.46%.

UAPIX

• 1D: 2.73%
• 1M: -3.87%
• 6M: 22.23%
• YTD: 34.82%
• 1Y: 71.71%
• 3Y*: 18.45%
• 5Y*: 2.92%
• 10Y*: 10.24%
• ALL TIME*: 4.82%

RYRUX

• 1D: 2.71%
• 1M: -3.87%
• 6M: 21.97%
• YTD: 34.42%
• 1Y: 70.85%
• 3Y*: 18.51%
• 5Y*: 2.59%
• 10Y*: 10.46%
• ALL TIME*: 7.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RYRUX Rydex Russell 2000 2x Strategy Fund	$0.00	$0.00	$0.00
UAPIX ProFunds UltraSmall Cap Fund	$0.00	$0.00	$0.00

UAPIX vs. RYRUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAPIX ProFunds UltraSmall Cap Fund	34.82%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%
RYRUX Rydex Russell 2000 2x Strategy Fund	34.42%	12.62%	10.94%	22.65%	-43.88%	20.72%	16.41%	47.20%	-26.63%	25.55%

Correlation

The correlation between UAPIX and RYRUX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.99

The correlation between UAPIX and RYRUX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

UAPIX vs. RYRUX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UAPIX

UAPIX Risk / Return Rank: 67
UAPIX Sharpe Ratio Rank: 64
UAPIX Sortino Ratio Rank: 61
UAPIX Omega Ratio Rank: 51
UAPIX Calmar Ratio Rank: 82
UAPIX Martin Ratio Rank: 76

RYRUX

RYRUX Risk / Return Rank: 65
RYRUX Sharpe Ratio Rank: 63
RYRUX Sortino Ratio Rank: 58
RYRUX Omega Ratio Rank: 49
RYRUX Calmar Ratio Rank: 80
RYRUX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UAPIX vs. RYRUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSmall Cap Fund (UAPIX) and Rydex Russell 2000 2x Strategy Fund (RYRUX). 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	RYRUX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.57	+0.02
Sortino ratio: Return per unit of downside risk	2.22	2.19	+0.03
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.77	2.73	+0.05
Martin ratio: Return relative to average drawdown	9.45	9.27	+0.17

UAPIX vs. RYRUX - Sharpe Ratio Comparison

The current UAPIX Sharpe Ratio is 1.60, which is comparable to the RYRUX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of UAPIX and RYRUX, 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. RYRUX - Drawdown Comparison

The maximum UAPIX drawdown since its inception was -88.51%, roughly equal to the maximum RYRUX drawdown of -88.49%. Use the drawdown chart below to compare losses from any high point for UAPIX and RYRUX.

Drawdown Indicators

	UAPIX	RYRUX	Difference
Max Drawdown Largest peak-to-trough decline	-88.51%	-88.49%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-22.39%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-49.91%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-62.41%	+0.59%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-71.68%	-0.50%
Current Drawdown Current decline from peak	-5.70%	-5.74%	+0.04%
Average Drawdown Average peak-to-trough decline	-35.85%	-31.07%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	6.58%	-0.03%

Volatility

UAPIX vs. RYRUX - Volatility Comparison

ProFunds UltraSmall Cap Fund (UAPIX) and Rydex Russell 2000 2x Strategy Fund (RYRUX) have volatilities of 7.64% and 7.62%, 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

	UAPIX	RYRUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	7.62%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	28.21%	28.24%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	38.79%	38.80%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.08%	45.04%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.46%	46.81%	-0.35%

UAPIX vs. RYRUX - Expense Ratio Comparison

UAPIX has a 1.60% expense ratio, which is lower than RYRUX's 1.86% expense ratio.

Dividends

UAPIX vs. RYRUX - Dividend Comparison

UAPIX's dividend yield for the trailing twelve months is around 0.35%, less than RYRUX's 2.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYRUX Rydex Russell 2000 2x Strategy Fund	2.74%	3.68%	2.93%	0.35%	0.00%	0.20%	0.00%	0.27%	0.00%	2.57%	0.00%	28.79%
UAPIX ProFunds UltraSmall Cap Fund	0.35%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UAPIX and RYRUX in my portfolio?

With a correlation of 1.00, UAPIX and RYRUX 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, UAPIX or RYRUX?

UAPIX has higher volatility (7.64%) compared to RYRUX (7.62%). In terms of maximum drawdown, UAPIX dropped -88.51% vs RYRUX's -88.49%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (1.60 vs 1.57), 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.