ENPIX vs. ULPIX

Last updated Jun 23, 2026

ENPIX (ProFunds UltraSector Oil & Gas Fund) and ULPIX (ProFunds UltraBull Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, ENPIX returned 5.61%/yr vs 22.73%/yr for ULPIX. A 0.58 correlation means they provide meaningful diversification when combined. ENPIX charges 1.51%/yr vs 1.46%/yr for ULPIX.

Performance

ENPIX vs. ULPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSector Oil & Gas Fund (ENPIX) and ProFunds UltraBull Fund (ULPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENPIX achieves a 29.13% return, which is significantly higher than ULPIX's 16.93% return. Over the past 10 years, ENPIX has underperformed ULPIX with an annualized return of 5.61%, while ULPIX has yielded a comparatively higher 22.73% annualized return.

ENPIX

• 1D: -2.53%
• 1M: -14.49%
• YTD: 29.13%
• 6M: 31.18%
• 1Y: 31.34%
• 3Y*: 13.80%
• 5Y*: 22.78%
• 10Y*: 5.61%

ULPIX

• 1D: 2.14%
• 1M: 0.26%
• YTD: 16.93%
• 6M: 15.69%
• 1Y: 49.75%
• 3Y*: 31.92%
• 5Y*: 18.48%
• 10Y*: 22.73%

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

ENPIX vs. ULPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENPIX ProFunds UltraSector Oil & Gas Fund	29.13%	4.99%	2.30%	-7.46%	92.17%	82.32%	-53.71%	10.35%	-30.54%	-5.59%
ULPIX ProFunds UltraBull Fund	16.93%	25.47%	38.03%	45.59%	-39.16%	59.28%	19.12%	62.17%	-15.02%	42.77%

Correlation

The correlation between ENPIX and ULPIX is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 19, 2000	0.58

The correlation between ENPIX and ULPIX shifts across timeframes, from -0.09 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ENPIX vs. ULPIX — Risk / Return Rank

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

ENPIX

ENPIX Risk / Return Rank: 17
ENPIX Sharpe Ratio Rank: 16
ENPIX Sortino Ratio Rank: 15
ENPIX Omega Ratio Rank: 14
ENPIX Calmar Ratio Rank: 20
ENPIX Martin Ratio Rank: 19

ULPIX

ULPIX Risk / Return Rank: 51
ULPIX Sharpe Ratio Rank: 53
ULPIX Sortino Ratio Rank: 42
ULPIX Omega Ratio Rank: 46
ULPIX Calmar Ratio Rank: 54
ULPIX Martin Ratio Rank: 62

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.

ENPIX vs. ULPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSector Oil & Gas Fund (ENPIX) and ProFunds UltraBull Fund (ULPIX). 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.

	ENPIX	ULPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.98	-0.91
Sortino ratio: Return per unit of downside risk	1.53	2.54	-1.01
Omega ratio: Gain probability vs. loss probability	1.19	1.34	-0.15
Calmar ratio: Return relative to maximum drawdown	1.55	2.69	-1.15
Martin ratio: Return relative to average drawdown	4.65	11.49	-6.84

ENPIX vs. ULPIX - Sharpe Ratio Comparison

The current ENPIX Sharpe Ratio is 1.07, which is lower than the ULPIX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of ENPIX and ULPIX, 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

ENPIX vs. ULPIX - Drawdown Comparison

The maximum ENPIX drawdown since its inception was -90.12%, roughly equal to the maximum ULPIX drawdown of -89.68%. Use the drawdown chart below to compare losses from any high point for ENPIX and ULPIX.

Drawdown Indicators

	ENPIX	ULPIX	Difference
Max Drawdown Largest peak-to-trough decline	-90.12%	-89.68%	-0.44%
Max Drawdown (1Y) Largest decline over 1 year	-21.66%	-18.30%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-32.27%	-36.59%	+4.32%
Max Drawdown (5Y) Largest decline over 5 years	-36.48%	-46.92%	+10.44%
Max Drawdown (10Y) Largest decline over 10 years	-84.54%	-59.41%	-25.13%
Current Drawdown Current decline from peak	-21.66%	-3.18%	-18.48%
Average Drawdown Average peak-to-trough decline	-36.86%	-33.78%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.18%	4.28%	+2.90%

Volatility

ENPIX vs. ULPIX - Volatility Comparison

ProFunds UltraSector Oil & Gas Fund (ENPIX) has a higher volatility of 10.66% compared to ProFunds UltraBull Fund (ULPIX) at 9.53%. This indicates that ENPIX's price experiences larger fluctuations and is considered to be riskier than ULPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENPIX	ULPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	9.53%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	25.45%	19.79%	+5.66%
Volatility (1Y) Calculated over the trailing 1-year period	31.37%	24.90%	+6.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.82%	34.10%	+4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.73%	35.53%	+9.20%

ENPIX vs. ULPIX - Expense Ratio Comparison

ENPIX has a 1.51% expense ratio, which is higher than ULPIX's 1.46% expense ratio.

Dividends

ENPIX vs. ULPIX - Dividend Comparison

ENPIX's dividend yield for the trailing twelve months is around 2.14%, less than ULPIX's 7.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENPIX ProFunds UltraSector Oil & Gas Fund	2.14%	2.76%	3.19%	0.87%	2.76%	1.59%	1.76%	1.34%	1.76%	0.84%	0.57%	0.56%
ULPIX ProFunds UltraBull Fund	7.79%	9.11%	0.00%	0.02%	10.36%	5.62%	12.74%	0.42%	0.58%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ENPIX and ULPIX in my portfolio?

ENPIX and ULPIX have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENPIX or ULPIX?

ENPIX has higher volatility (10.66%) compared to ULPIX (9.53%). In terms of maximum drawdown, ENPIX dropped -90.12% vs ULPIX's -89.68%.

Which has better risk-adjusted returns?

ULPIX currently has the higher Sharpe Ratio (1.98 vs 1.07), 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.