BRPIX vs. UKPIX
BRPIX (ProFunds Bear Fund) and UKPIX (ProFunds Ultra Short Japan Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, BRPIX returned -13.94%/yr vs -16.24%/yr for UKPIX. A 0.71 correlation means they provide meaningful diversification when combined. BRPIX charges 1.64%/yr vs 1.78%/yr for UKPIX.
Performance
BRPIX vs. UKPIX - Performance Comparison
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Returns By Period
In the year-to-date period, BRPIX achieves a -7.79% return, which is significantly higher than UKPIX's -48.97% return. Over the past 10 years, BRPIX has outperformed UKPIX with an annualized return of -13.94%, while UKPIX has yielded a comparatively lower -16.24% annualized return.
BRPIX
- 1D
- 0.48%
- 1M
- -1.18%
- 6M
- -6.66%
- YTD
- -7.79%
- 1Y
- -13.43%
- 3Y*
- -14.40%
- 5Y*
- -10.67%
- 10Y*
- -13.94%
UKPIX
- 1D
- 5.23%
- 1M
- 9.37%
- 6M
- -41.80%
- YTD
- -48.97%
- 1Y
- -69.69%
- 3Y*
- 19.93%
- 5Y*
- 0.10%
- 10Y*
- -16.24%
BRPIX vs. UKPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRPIX ProFunds Bear Fund | -7.79% | -12.27% | -20.40% | -15.39% | 17.31% | -24.68% | -25.63% | -23.18% | 4.03% | -18.03% |
UKPIX ProFunds Ultra Short Japan Fund | -48.97% | -44.54% | 554.47% | -43.26% | 9.92% | -20.34% | -47.86% | -35.34% | 13.58% | -34.24% |
Correlation
The correlation between BRPIX and UKPIX is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006 | 0.71 |
The correlation between BRPIX and UKPIX has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
BRPIX vs. UKPIX — Risk / Return Rank
BRPIX
UKPIX
BRPIX vs. UKPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Bear Fund (BRPIX) and ProFunds Ultra Short Japan Fund (UKPIX). 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 | UKPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.72 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.94 | +0.07 |
| Martin ratioReturn relative to average drawdown | -1.60 | -1.45 | -0.15 |
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Drawdowns
BRPIX vs. UKPIX - Drawdown Comparison
The maximum BRPIX drawdown since its inception was -96.76%, roughly equal to the maximum UKPIX drawdown of -99.83%. Use the drawdown chart below to compare losses from any high point for BRPIX and UKPIX.
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Drawdown Indicators
| BRPIX | UKPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.76% | -99.83% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -16.15% | -75.33% | +59.18% |
Max Drawdown (3Y)Largest decline over 3 years | -44.49% | -83.62% | +39.13% |
Max Drawdown (5Y)Largest decline over 5 years | -50.06% | -83.62% | +33.56% |
Max Drawdown (10Y)Largest decline over 10 years | -78.55% | -94.80% | +16.25% |
Current DrawdownCurrent decline from peak | -96.33% | -99.47% | +3.14% |
Average DrawdownAverage peak-to-trough decline | -62.26% | -82.78% | +20.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.76% | 48.81% | -40.05% |
Volatility
BRPIX vs. UKPIX - Volatility Comparison
The current volatility for ProFunds Bear Fund (BRPIX) is 3.19%, while ProFunds Ultra Short Japan Fund (UKPIX) has a volatility of 20.73%. This indicates that BRPIX experiences smaller price fluctuations and is considered to be less risky than UKPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRPIX | UKPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 20.73% | -17.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.08% | 44.68% | -34.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.60% | 54.75% | -42.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.28% | 425.79% | -408.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 302.11% | -284.25% |
BRPIX vs. UKPIX - Expense Ratio Comparison
BRPIX has a 1.64% expense ratio, which is lower than UKPIX's 1.78% expense ratio.
Dividends
BRPIX vs. UKPIX - Dividend Comparison
BRPIX's dividend yield for the trailing twelve months is around 4.71%, more than UKPIX's 3.22% 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% |
UKPIX ProFunds Ultra Short Japan Fund | 3.22% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BRPIX and UKPIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UKPIX has higher volatility (20.73%) compared to BRPIX (3.19%). In terms of maximum drawdown, BRPIX dropped -96.76% vs UKPIX's -99.83%.
BRPIX currently has the higher Sharpe Ratio (-1.11 vs -1.29), 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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