BIPIX vs. VOO

Last updated Jun 20, 2026

BIPIX (ProFunds Biotechnology UltraSector Fund) and VOO (Vanguard S&P 500 ETF) are both funds - BIPIX is a Leveraged Equities fund managed by ProFunds, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, BIPIX returned 8.96%/yr vs 15.55%/yr for VOO. A 0.64 correlation means they provide meaningful diversification when combined. BIPIX charges 1.49%/yr vs 0.03%/yr for VOO.

Performance

BIPIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Biotechnology UltraSector Fund (BIPIX) and Vanguard S&P 500 ETF (VOO). 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 higher than VOO's 10.07% return. Over the past 10 years, BIPIX has underperformed VOO with an annualized return of 8.96%, while VOO has yielded a comparatively higher 15.55% 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%

VOO

• 1D: 0.98%
• 1M: 0.77%
• YTD: 10.07%
• 6M: 10.31%
• 1Y: 27.14%
• 3Y*: 20.91%
• 5Y*: 14.06%
• 10Y*: 15.55%

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

BIPIX vs. VOO - 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%
VOO Vanguard S&P 500 ETF	10.07%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between BIPIX and VOO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.64

The correlation between BIPIX and VOO shifts across timeframes, from 0.50 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BIPIX vs. VOO — 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

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 68
VOO Omega Ratio Rank: 71
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Biotechnology UltraSector Fund (BIPIX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.18	+0.64
Sortino ratio: Return per unit of downside risk	3.40	2.93	+0.47
Omega ratio: Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	7.31	3.02	+4.29
Martin ratio: Return relative to average drawdown	21.37	13.61	+7.75

BIPIX vs. VOO - Sharpe Ratio Comparison

The current BIPIX Sharpe Ratio is 2.82, which is comparable to the VOO Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of BIPIX and VOO, 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. VOO - Drawdown Comparison

The maximum BIPIX drawdown since its inception was -84.51%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for BIPIX and VOO.

Drawdown Indicators

	BIPIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-84.51%	-33.99%	-50.52%
Max Drawdown (1Y) Largest decline over 1 year	-15.15%	-8.90%	-6.25%
Max Drawdown (3Y) Largest decline over 3 years	-59.50%	-18.69%	-40.81%
Max Drawdown (5Y) Largest decline over 5 years	-63.86%	-24.52%	-39.34%
Max Drawdown (10Y) Largest decline over 10 years	-63.86%	-33.99%	-29.87%
Current Drawdown Current decline from peak	-3.72%	-1.45%	-2.27%
Average Drawdown Average peak-to-trough decline	-37.17%	-3.68%	-33.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	1.97%	+3.21%

Volatility

BIPIX vs. VOO - Volatility Comparison

ProFunds Biotechnology UltraSector Fund (BIPIX) has a higher volatility of 15.02% compared to Vanguard S&P 500 ETF (VOO) at 4.69%. This indicates that BIPIX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIPIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.02%	4.69%	+10.33%
Volatility (6M) Calculated over the trailing 6-month period	31.47%	9.79%	+21.68%
Volatility (1Y) Calculated over the trailing 1-year period	39.36%	12.37%	+26.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.91%	16.90%	+23.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.47%	18.05%	+18.42%

BIPIX vs. VOO - Expense Ratio Comparison

BIPIX has a 1.49% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

BIPIX vs. VOO - Dividend Comparison

BIPIX's dividend yield for the trailing twelve months is around 0.30%, less than VOO's 1.04% 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%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both BIPIX and VOO in my portfolio?

BIPIX and VOO have a correlation of 0.50, 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 VOO?

BIPIX has higher volatility (15.02%) compared to VOO (4.69%). In terms of maximum drawdown, BIPIX dropped -84.51% vs VOO's -33.99%.

Which has better risk-adjusted returns?

BIPIX currently has the higher Sharpe Ratio (2.82 vs 2.18), 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.