BIPIX vs. QLD

Last updated Jun 20, 2026

BIPIX (ProFunds Biotechnology UltraSector Fund) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds. Over the past 10 years, BIPIX returned 8.96%/yr vs 36.48%/yr for QLD. A 0.64 correlation means they provide meaningful diversification when combined. BIPIX charges 1.49%/yr vs 0.95%/yr for QLD.

Performance

BIPIX vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Biotechnology UltraSector Fund (BIPIX) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIPIX achieves a 20.18% return, which is significantly lower than QLD's 39.09% return. Over the past 10 years, BIPIX has underperformed QLD with an annualized return of 8.96%, while QLD has yielded a comparatively higher 36.48% annualized return.

BIPIX

• 1D: 1.43%
• 1M: 8.52%
• YTD: 20.18%
• 6M: 18.45%
• 1Y: 111.16%
• 3Y*: 9.29%
• 5Y*: 2.18%
• 10Y*: 8.96%

QLD

• 1D: 4.65%
• 1M: 5.99%
• YTD: 39.09%
• 6M: 37.88%
• 1Y: 82.76%
• 3Y*: 45.69%
• 5Y*: 24.22%
• 10Y*: 36.48%

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

BIPIX vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIPIX ProFunds Biotechnology UltraSector Fund	20.18%	47.99%	-25.91%	9.55%	-13.43%	5.00%	19.94%	23.65%	-12.15%	34.71%
QLD ProShares Ultra QQQ	39.09%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Correlation

The correlation between BIPIX and QLD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.64

Over the past year, the correlation between BIPIX and QLD has dropped to 0.42 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

BIPIX vs. QLD — Risk / Return Rank

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

BIPIX

BIPIX Risk / Return Rank: 87
BIPIX Sharpe Ratio Rank: 92
BIPIX Sortino Ratio Rank: 80
BIPIX Omega Ratio Rank: 67
BIPIX Calmar Ratio Rank: 98
BIPIX Martin Ratio Rank: 96

QLD

QLD Risk / Return Rank: 67
QLD Sharpe Ratio Rank: 77
QLD Sortino Ratio Rank: 62
QLD Omega Ratio Rank: 65
QLD Calmar Ratio Rank: 68
QLD Martin Ratio Rank: 63

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.

BIPIX vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Biotechnology UltraSector Fund (BIPIX) and ProShares Ultra QQQ (QLD). 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.

	BIPIX	QLD	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.32	+0.49
Sortino ratio: Return per unit of downside risk	3.40	2.76	+0.64
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.04
Calmar ratio: Return relative to maximum drawdown	7.31	3.25	+4.07
Martin ratio: Return relative to average drawdown	21.37	11.03	+10.34

BIPIX vs. QLD - Sharpe Ratio Comparison

The current BIPIX Sharpe Ratio is 2.82, which is comparable to the QLD Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of BIPIX and QLD, 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

BIPIX vs. QLD - Drawdown Comparison

The maximum BIPIX drawdown since its inception was -84.51%, roughly equal to the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for BIPIX and QLD.

Drawdown Indicators

	BIPIX	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-84.51%	-83.13%	-1.38%
Max Drawdown (1Y) Largest decline over 1 year	-15.15%	-25.13%	+9.98%
Max Drawdown (3Y) Largest decline over 3 years	-59.50%	-42.29%	-17.21%
Max Drawdown (5Y) Largest decline over 5 years	-63.86%	-63.68%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	-63.86%	-63.68%	-0.18%
Current Drawdown Current decline from peak	-3.72%	-2.61%	-1.11%
Average Drawdown Average peak-to-trough decline	-37.17%	-18.14%	-19.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	7.38%	-2.20%

Volatility

BIPIX vs. QLD - Volatility Comparison

The current volatility for ProFunds Biotechnology UltraSector Fund (BIPIX) is 15.02%, while ProShares Ultra QQQ (QLD) has a volatility of 17.01%. This indicates that BIPIX experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIPIX	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.02%	17.01%	-1.99%
Volatility (6M) Calculated over the trailing 6-month period	31.47%	28.48%	+2.99%
Volatility (1Y) Calculated over the trailing 1-year period	39.36%	35.11%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.91%	45.23%	-5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.47%	44.81%	-8.34%

BIPIX vs. QLD - Expense Ratio Comparison

BIPIX has a 1.49% expense ratio, which is higher than QLD's 0.95% expense ratio.

Dividends

BIPIX vs. QLD - Dividend Comparison

BIPIX's dividend yield for the trailing twelve months is around 0.30%, more than QLD's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIPIX ProFunds Biotechnology UltraSector Fund	0.30%	0.37%	0.23%	6.69%	0.00%	0.79%	12.09%	3.26%	5.52%	7.19%	0.00%	0.00%
QLD ProShares Ultra QQQ	0.12%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Frequently Asked Questions

Can I hold both BIPIX and QLD in my portfolio?

BIPIX and QLD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIPIX or QLD?

QLD has higher volatility (17.01%) compared to BIPIX (15.02%). In terms of maximum drawdown, BIPIX dropped -84.51% vs QLD's -83.13%.

Which has better risk-adjusted returns?

BIPIX currently has the higher Sharpe Ratio (2.82 vs 2.32), 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.