8 Worst Performing Mutual Funds in 2024

3. Rydex Inverse NASDAQ-100 2x Strategy C (RYCDX)

Mutual Fund’s 2024 Return: -34.69%

Rydex Inverse NASDAQ-100 2x Strategy C (RYCDX) is a mutual fund for investors looking to profit from short sales in the equity markets. The fund engages in short sales of securities included in the Nasdaq 100 underlying index. Consequently, the fund tends to generate returns whenever the Nasdaq 100 is under immense pressure.

The fund has emerged as one of the worst-performing mutual funds over the past two years. That’s because the overall tech industry has been in an uptrend amid the artificial intelligence boom. With the Nasdaq 100 rallying to record highs, Rydex Inverse NASDAQ-100 has generated negative returns. The fund has generated negative returns over the past two years. It was down by 63.79% in 2023 and returned -34.69% in 2024 as the Nasdaq 100 gained 24.09%.