GRZZX vs. SHPIX
GRZZX (Grizzly Short Fund) and SHPIX (ProFunds Short Small Cap ProFund) are both Inverse Equities funds. Over the past 10 years, GRZZX returned -0.91%/yr vs 9.80%/yr for SHPIX. Their correlation of 0.89 suggests significant overlap in exposure. GRZZX charges 1.61%/yr vs 1.78%/yr for SHPIX.
Performance
GRZZX vs. SHPIX - Performance Comparison
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Returns By Period
In the year-to-date period, GRZZX achieves a -7.85% return, which is significantly higher than SHPIX's -15.93% return. Over the past 10 years, GRZZX has underperformed SHPIX with an annualized return of -0.91%, while SHPIX has yielded a comparatively higher 9.80% annualized return.
GRZZX
- 1D
- 0.33%
- 1M
- -2.45%
- 6M
- -4.23%
- YTD
- -7.85%
- 1Y
- -6.30%
- 3Y*
- -6.07%
- 5Y*
- -3.78%
- 10Y*
- -0.91%
SHPIX
- 1D
- 0.89%
- 1M
- -0.06%
- 6M
- -10.91%
- YTD
- -15.93%
- 1Y
- -23.20%
- 3Y*
- 10.37%
- 5Y*
- 46.82%
- 10Y*
- 9.80%
GRZZX vs. SHPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | -7.85% | -2.98% | -6.74% | -18.72% | 22.43% | -15.87% | -41.33% | -29.43% | 301.98% | -19.84% |
SHPIX ProFunds Short Small Cap ProFund | -15.93% | -9.61% | 83.27% | 344.97% | 16.39% | -19.78% | -31.60% | -20.89% | 9.96% | -14.49% |
Correlation
The correlation between GRZZX and SHPIX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | 0.89 |
The correlation between GRZZX and SHPIX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
GRZZX vs. SHPIX — Risk / Return Rank
GRZZX
SHPIX
GRZZX vs. SHPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grizzly Short Fund (GRZZX) and ProFunds Short Small Cap ProFund (SHPIX). 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.
| GRZZX | SHPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.81 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -0.85 | +0.45 |
| Martin ratioReturn relative to average drawdown | -0.92 | -1.45 | +0.54 |
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Drawdowns
GRZZX vs. SHPIX - Drawdown Comparison
The maximum GRZZX drawdown since its inception was -91.80%, smaller than the maximum SHPIX drawdown of -96.86%. Use the drawdown chart below to compare losses from any high point for GRZZX and SHPIX.
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Drawdown Indicators
| GRZZX | SHPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.80% | -96.86% | +5.06% |
Max Drawdown (1Y)Largest decline over 1 year | -15.84% | -27.97% | +12.13% |
Max Drawdown (3Y)Largest decline over 3 years | -31.08% | -41.50% | +10.42% |
Max Drawdown (5Y)Largest decline over 5 years | -39.06% | -41.50% | +2.44% |
Max Drawdown (10Y)Largest decline over 10 years | -73.07% | -68.01% | -5.06% |
Current DrawdownCurrent decline from peak | -89.73% | -75.62% | -14.11% |
Average DrawdownAverage peak-to-trough decline | -69.43% | -74.99% | +5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.90% | 16.32% | -9.42% |
Volatility
GRZZX vs. SHPIX - Volatility Comparison
The current volatility for Grizzly Short Fund (GRZZX) is 4.01%, while ProFunds Short Small Cap ProFund (SHPIX) has a volatility of 4.88%. This indicates that GRZZX experiences smaller price fluctuations and is considered to be less risky than SHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRZZX | SHPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 4.88% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 10.54% | 14.21% | -3.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.91% | 19.48% | -5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 189.01% | -169.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.65% | 134.67% | -38.02% |
GRZZX vs. SHPIX - Expense Ratio Comparison
GRZZX has a 1.61% expense ratio, which is lower than SHPIX's 1.78% expense ratio.
Dividends
GRZZX vs. SHPIX - Dividend Comparison
GRZZX's dividend yield for the trailing twelve months is around 4.96%, less than SHPIX's 32.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | 4.96% | 6.00% | 10.30% | 6.61% | 0.00% | 0.00% | 0.00% | 1.14% |
SHPIX ProFunds Short Small Cap ProFund | 32.92% | 5.70% | 0.00% | 17.01% | 0.00% | 0.00% | 0.00% | 0.85% |
Frequently Asked Questions
GRZZX and SHPIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHPIX has higher volatility (4.88%) compared to GRZZX (4.01%). In terms of maximum drawdown, GRZZX dropped -91.80% vs SHPIX's -96.86%.
GRZZX currently has the higher Sharpe Ratio (-0.46 vs -1.22), 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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