ULPIX vs. RYMDX

Last updated Jun 24, 2026

ULPIX (ProFunds UltraBull Fund) and RYMDX (Rydex Mid-Cap 1.5x Strategy Fund) are both Leveraged Equities funds. Over the past 10 years, ULPIX returned 23.21%/yr vs 12.62%/yr for RYMDX. Their correlation of 0.89 suggests significant overlap in exposure. ULPIX charges 1.46%/yr vs 1.65%/yr for RYMDX.

Performance

ULPIX vs. RYMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraBull Fund (ULPIX) and Rydex Mid-Cap 1.5x Strategy Fund (RYMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULPIX achieves a 16.02% return, which is significantly lower than RYMDX's 21.96% return. Over the past 10 years, ULPIX has outperformed RYMDX with an annualized return of 23.21%, while RYMDX has yielded a comparatively lower 12.62% annualized return.

ULPIX

• 1D: -0.78%
• 1M: -0.52%
• YTD: 16.02%
• 6M: 13.77%
• 1Y: 45.84%
• 3Y*: 32.87%
• 5Y*: 17.45%
• 10Y*: 23.21%

RYMDX

• 1D: 0.57%
• 1M: 5.35%
• YTD: 21.96%
• 6M: 18.54%
• 1Y: 35.58%
• 3Y*: 19.35%
• 5Y*: 7.99%
• 10Y*: 12.62%

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

ULPIX vs. RYMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ULPIX ProFunds UltraBull Fund	16.02%	25.47%	38.03%	45.59%	-39.16%	59.28%	19.12%	62.17%	-15.02%	42.77%
RYMDX Rydex Mid-Cap 1.5x Strategy Fund	21.96%	5.29%	15.46%	19.11%	-23.31%	34.58%	9.87%	36.13%	-19.37%	22.67%

Correlation

The correlation between ULPIX and RYMDX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 2, 2002	0.89

The correlation between ULPIX and RYMDX shifts across timeframes, from 0.75 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ULPIX vs. RYMDX — Risk / Return Rank

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

ULPIX

ULPIX Risk / Return Rank: 51
ULPIX Sharpe Ratio Rank: 52
ULPIX Sortino Ratio Rank: 42
ULPIX Omega Ratio Rank: 45
ULPIX Calmar Ratio Rank: 53
ULPIX Martin Ratio Rank: 61

RYMDX

RYMDX Risk / Return Rank: 42
RYMDX Sharpe Ratio Rank: 35
RYMDX Sortino Ratio Rank: 35
RYMDX Omega Ratio Rank: 31
RYMDX Calmar Ratio Rank: 57
RYMDX Martin Ratio Rank: 50

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.

ULPIX vs. RYMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and Rydex Mid-Cap 1.5x Strategy Fund (RYMDX). 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.

	ULPIX	RYMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.58	+0.38
Sortino ratio: Return per unit of downside risk	2.52	2.26	+0.26
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.67	2.77	-0.11
Martin ratio: Return relative to average drawdown	11.36	9.78	+1.58

ULPIX vs. RYMDX - Sharpe Ratio Comparison

The current ULPIX Sharpe Ratio is 1.96, which is comparable to the RYMDX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of ULPIX and RYMDX, 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

ULPIX vs. RYMDX - Drawdown Comparison

The maximum ULPIX drawdown since its inception was -89.68%, which is greater than RYMDX's maximum drawdown of -75.43%. Use the drawdown chart below to compare losses from any high point for ULPIX and RYMDX.

Drawdown Indicators

	ULPIX	RYMDX	Difference
Max Drawdown Largest peak-to-trough decline	-89.68%	-75.43%	-14.25%
Max Drawdown (1Y) Largest decline over 1 year	-18.30%	-13.50%	-4.80%
Max Drawdown (3Y) Largest decline over 3 years	-36.59%	-35.20%	-1.39%
Max Drawdown (5Y) Largest decline over 5 years	-46.92%	-42.77%	-4.15%
Max Drawdown (10Y) Largest decline over 10 years	-59.41%	-58.09%	-1.32%
Current Drawdown Current decline from peak	-3.93%	-0.13%	-3.80%
Average Drawdown Average peak-to-trough decline	-33.78%	-15.41%	-18.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	3.82%	+0.47%

Volatility

ULPIX vs. RYMDX - Volatility Comparison

ProFunds UltraBull Fund (ULPIX) has a higher volatility of 9.35% compared to Rydex Mid-Cap 1.5x Strategy Fund (RYMDX) at 6.82%. This indicates that ULPIX's price experiences larger fluctuations and is considered to be riskier than RYMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULPIX	RYMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	6.82%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	19.65%	17.58%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	24.96%	23.76%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.09%	31.52%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.54%	32.64%	+2.90%

ULPIX vs. RYMDX - Expense Ratio Comparison

ULPIX has a 1.46% expense ratio, which is lower than RYMDX's 1.65% expense ratio.

Dividends

ULPIX vs. RYMDX - Dividend Comparison

ULPIX's dividend yield for the trailing twelve months is around 7.85%, more than RYMDX's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYMDX Rydex Mid-Cap 1.5x Strategy Fund	0.60%	0.73%	0.72%	0.35%	0.00%	17.47%	0.38%	0.18%	0.56%	0.53%	0.19%	0.67%
ULPIX ProFunds UltraBull Fund	7.85%	9.11%	0.00%	0.02%	10.36%	5.62%	12.74%	0.42%	0.58%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ULPIX and RYMDX in my portfolio?

ULPIX and RYMDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULPIX or RYMDX?

ULPIX has higher volatility (9.35%) compared to RYMDX (6.82%). In terms of maximum drawdown, ULPIX dropped -89.68% vs RYMDX's -75.43%.

Which has better risk-adjusted returns?

ULPIX currently has the higher Sharpe Ratio (1.96 vs 1.58), 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.