BRPIX vs. UCPIX
BRPIX (ProFunds Bear Fund) and UCPIX (ProFunds UltraShort Small Cap Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, BRPIX returned -14.31%/yr vs -10.27%/yr for UCPIX. Their correlation of 0.85 suggests significant overlap in exposure. BRPIX charges 1.64%/yr vs 1.78%/yr for UCPIX.
Performance
BRPIX vs. UCPIX - Performance Comparison
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Returns By Period
In the year-to-date period, BRPIX achieves a -7.68% return, which is significantly higher than UCPIX's -32.53% return. Over the past 10 years, BRPIX has underperformed UCPIX with an annualized return of -14.31%, while UCPIX has yielded a comparatively higher -10.27% annualized return.
BRPIX
- 1D
- -1.06%
- 1M
- -0.36%
- YTD
- -7.68%
- 6M
- -7.14%
- 1Y
- -17.56%
- 3Y*
- -14.92%
- 5Y*
- -11.37%
- 10Y*
- -14.31%
UCPIX
- 1D
- -4.20%
- 1M
- -7.91%
- YTD
- -32.53%
- 6M
- -28.20%
- 1Y
- -51.88%
- 3Y*
- 50.86%
- 5Y*
- 28.12%
- 10Y*
- -10.27%
BRPIX vs. UCPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRPIX ProFunds Bear Fund | -7.68% | -12.27% | -20.40% | -15.39% | 17.31% | -24.68% | -25.63% | -23.18% | 4.03% | -18.03% |
UCPIX ProFunds UltraShort Small Cap Fund | -32.53% | -25.76% | 707.30% | -26.54% | 28.08% | -36.02% | -60.58% | -38.99% | 17.86% | -27.19% |
Correlation
The correlation between BRPIX and UCPIX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.85 |
The correlation between BRPIX and UCPIX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.
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Return for Risk
BRPIX vs. UCPIX — Risk / Return Rank
BRPIX
UCPIX
BRPIX vs. UCPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Bear Fund (BRPIX) and ProFunds UltraShort Small Cap Fund (UCPIX). 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.
| BRPIX | UCPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.77 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -1.00 | +0.07 |
| Martin ratioReturn relative to average drawdown | -1.63 | -1.61 | -0.01 |
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Drawdowns
BRPIX vs. UCPIX - Drawdown Comparison
The maximum BRPIX drawdown since its inception was -96.76%, roughly equal to the maximum UCPIX drawdown of -99.90%. Use the drawdown chart below to compare losses from any high point for BRPIX and UCPIX.
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Drawdown Indicators
| BRPIX | UCPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.76% | -99.90% | +3.14% |
Max Drawdown (1Y)Largest decline over 1 year | -17.86% | -50.82% | +32.96% |
Max Drawdown (3Y)Largest decline over 3 years | -44.49% | -68.01% | +23.52% |
Max Drawdown (5Y)Largest decline over 5 years | -50.06% | -68.01% | +17.95% |
Max Drawdown (10Y)Largest decline over 10 years | -79.74% | -94.03% | +14.29% |
Current DrawdownCurrent decline from peak | -96.33% | -99.48% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -62.17% | -83.99% | +21.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.65% | 32.04% | -21.39% |
Volatility
BRPIX vs. UCPIX - Volatility Comparison
The current volatility for ProFunds Bear Fund (BRPIX) is 4.70%, while ProFunds UltraShort Small Cap Fund (UCPIX) has a volatility of 13.54%. This indicates that BRPIX experiences smaller price fluctuations and is considered to be less risky than UCPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRPIX | UCPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 13.54% | -8.84% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 28.85% | -18.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.53% | 39.39% | -26.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 400.09% | -382.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 284.66% | -266.74% |
BRPIX vs. UCPIX - Expense Ratio Comparison
BRPIX has a 1.64% expense ratio, which is lower than UCPIX's 1.78% expense ratio.
Dividends
BRPIX vs. UCPIX - Dividend Comparison
BRPIX's dividend yield for the trailing twelve months is around 4.71%, less than UCPIX's 6.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BRPIX ProFunds Bear Fund | 4.71% | 4.35% | 0.00% | 5.58% | 0.00% | 0.00% | 0.06% | 0.27% |
UCPIX ProFunds UltraShort Small Cap Fund | 6.84% | 4.61% | 4.24% | 4.77% | 0.00% | 0.00% | 0.00% | 0.30% |
Frequently Asked Questions
BRPIX and UCPIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCPIX has higher volatility (13.54%) compared to BRPIX (4.70%). In terms of maximum drawdown, BRPIX dropped -96.76% vs UCPIX's -99.90%.
UCPIX currently has the higher Sharpe Ratio (-1.32 vs -1.39), 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.
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