As does mine, but I don’t have a ring with which to test it though.
Range wise, I would have thought the ring would read pretty easily.
I couldn’t get my xM1 to read but it reads my FlexM1 very easily, The Rings performance, I believe, is somewhere between the two.
Do you own a proxmark or are you just using MCT app to read/write/clone your ring?
If it is a EV1, you won’t be able to copy this to your magic ring.
Can you do a TagInfo scan of one of your fobs?