You are absolutely right about the rydex fund at only 1.25X. The profunds choice is 2x and i assumed (make and ass out of me) that rydex's was too. Discovered it while on the phone with a friend.
Thanks for the additional comments on the rydex fund. i have not traded it before, but after a quick glance at its chart and the NIKK over last few days, it looked like a good play.