USAGX vs. RYPMX

Last updated Jun 4, 2026

USAGX (USAA Precious Metals and Minerals Fund) and RYPMX (Rydex Precious Metals Fund) are both Precious Metals funds. Over the past 10 years, USAGX returned 13.25%/yr vs 14.77%/yr for RYPMX. Their correlation of 0.93 suggests significant overlap in exposure. USAGX charges 1.12%/yr vs 1.26%/yr for RYPMX.

Performance

USAGX vs. RYPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Precious Metals and Minerals Fund (USAGX) and Rydex Precious Metals Fund (RYPMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAGX achieves a 0.85% return, which is significantly lower than RYPMX's 7.46% return. Over the past 10 years, USAGX has underperformed RYPMX with an annualized return of 13.25%, while RYPMX has yielded a comparatively higher 14.77% annualized return.

USAGX

• 1D: 1.44%
• 1M: 1.83%
• YTD: 0.85%
• 6M: 7.09%
• 1Y: 61.13%
• 3Y*: 40.75%
• 5Y*: 18.15%
• 10Y*: 13.25%

RYPMX

• 1D: 1.28%
• 1M: 5.36%
• YTD: 7.46%
• 6M: 14.86%
• 1Y: 80.72%
• 3Y*: 43.06%
• 5Y*: 17.92%
• 10Y*: 14.77%

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

USAGX vs. RYPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USAGX USAA Precious Metals and Minerals Fund	0.85%	156.06%	10.76%	6.73%	-11.80%	-10.14%	25.85%	42.97%	-12.26%	9.65%
RYPMX Rydex Precious Metals Fund	7.46%	148.94%	10.14%	4.24%	-10.57%	-8.96%	34.25%	52.91%	-16.56%	7.04%

Correlation

The correlation between USAGX and RYPMX is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 1994	0.93

The correlation between USAGX and RYPMX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

USAGX vs. RYPMX — Risk / Return Rank

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

USAGX

USAGX Risk / Return Rank: 23
USAGX Sharpe Ratio Rank: 25
USAGX Sortino Ratio Rank: 19
USAGX Omega Ratio Rank: 25
USAGX Calmar Ratio Rank: 29
USAGX Martin Ratio Rank: 19

RYPMX

RYPMX Risk / Return Rank: 34
RYPMX Sharpe Ratio Rank: 38
RYPMX Sortino Ratio Rank: 26
RYPMX Omega Ratio Rank: 33
RYPMX Calmar Ratio Rank: 47
RYPMX Martin Ratio Rank: 29

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.

USAGX vs. RYPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Precious Metals and Minerals Fund (USAGX) and Rydex Precious Metals Fund (RYPMX). 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.

	USAGX	RYPMX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.77	-0.35
Sortino ratio: Return per unit of downside risk	1.82	2.11	-0.28
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	2.01	2.61	-0.61
Martin ratio: Return relative to average drawdown	5.20	6.87	-1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAGX vs. RYPMX - Sharpe Ratio Comparison

The current USAGX Sharpe Ratio is 1.42, which is comparable to the RYPMX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of USAGX and RYPMX, 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

	USAGX	RYPMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.77	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.49	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.40	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.08	+0.11

Drawdowns

USAGX vs. RYPMX - Drawdown Comparison

The maximum USAGX drawdown since its inception was -80.89%, roughly equal to the maximum RYPMX drawdown of -81.25%. Use the drawdown chart below to compare losses from any high point for USAGX and RYPMX.

Drawdown Indicators

	USAGX	RYPMX	Difference
Max Drawdown Largest peak-to-trough decline	-80.89%	-81.25%	+0.36%
Max Drawdown (1Y) Largest decline over 1 year	-30.12%	-30.86%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-30.12%	-30.86%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	-45.72%	-46.46%	+0.74%
Max Drawdown (10Y) Largest decline over 10 years	-51.03%	-47.81%	-3.22%
Current Drawdown Current decline from peak	-24.52%	-22.11%	-2.41%
Average Drawdown Average peak-to-trough decline	-43.08%	-40.37%	-2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.60%	11.71%	-0.11%

Volatility

USAGX vs. RYPMX - Volatility Comparison

The current volatility for USAA Precious Metals and Minerals Fund (USAGX) is 14.19%, while Rydex Precious Metals Fund (RYPMX) has a volatility of 15.04%. This indicates that USAGX experiences smaller price fluctuations and is considered to be less risky than RYPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAGX	RYPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.19%	15.04%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	35.26%	37.48%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	42.95%	45.86%	-2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.87%	36.93%	-4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.68%	37.03%	-4.35%

USAGX vs. RYPMX - Expense Ratio Comparison

USAGX has a 1.12% expense ratio, which is lower than RYPMX's 1.26% expense ratio.

Dividends

USAGX vs. RYPMX - Dividend Comparison

USAGX's dividend yield for the trailing twelve months is around 0.24%, less than RYPMX's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYPMX Rydex Precious Metals Fund	2.80%	3.01%	0.00%	3.51%	7.15%	6.39%	1.06%	2.08%	1.35%	5.53%	4.04%	0.58%
USAGX USAA Precious Metals and Minerals Fund	0.24%	0.24%	0.00%	2.45%	0.95%	0.84%	0.04%	0.00%	0.00%	0.00%	4.20%	0.00%

Frequently Asked Questions

Can I hold both USAGX and RYPMX in my portfolio?

With a correlation of 0.97, USAGX and RYPMX 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, USAGX or RYPMX?

RYPMX has higher volatility (15.04%) compared to USAGX (14.19%). In terms of maximum drawdown, USAGX dropped -80.89% vs RYPMX's -81.25%.

Which has better risk-adjusted returns?

RYPMX currently has the higher Sharpe Ratio (1.77 vs 1.42), 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.