GRZZX vs. UHPIX
GRZZX (Grizzly Short Fund) and UHPIX (ProFunds UltraShort China) are both Inverse Equities funds. Over the past 10 years, GRZZX returned -1.10%/yr vs -30.35%/yr for UHPIX. A 0.63 correlation means they provide meaningful diversification when combined. GRZZX charges 1.61%/yr vs 1.78%/yr for UHPIX.
Performance
GRZZX vs. UHPIX - Performance Comparison
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Returns By Period
In the year-to-date period, GRZZX achieves a -7.90% return, which is significantly lower than UHPIX's 37.91% return. Over the past 10 years, GRZZX has outperformed UHPIX with an annualized return of -1.10%, while UHPIX has yielded a comparatively lower -30.35% annualized return.
GRZZX
- 1D
- -0.76%
- 1M
- -2.50%
- 6M
- -4.14%
- YTD
- -7.90%
- 1Y
- -6.36%
- 3Y*
- -6.81%
- 5Y*
- -3.51%
- 10Y*
- -1.10%
UHPIX
- 1D
- -1.02%
- 1M
- -0.34%
- 6M
- 50.00%
- YTD
- 37.91%
- 1Y
- 6.97%
- 3Y*
- -25.48%
- 5Y*
- -26.52%
- 10Y*
- -30.35%
GRZZX vs. UHPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | -7.90% | -2.98% | -6.74% | -18.72% | 22.43% | -15.87% | -41.33% | -29.43% | 301.98% | -19.84% |
UHPIX ProFunds UltraShort China | 37.91% | -49.82% | -29.87% | -26.13% | -63.62% | 94.89% | -64.76% | -43.34% | 39.47% | -57.67% |
Correlation
The correlation between GRZZX and UHPIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2008 | 0.63 |
Over the past year, the correlation between GRZZX and UHPIX has dropped to 0.36 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
GRZZX vs. UHPIX — Risk / Return Rank
GRZZX
UHPIX
GRZZX vs. UHPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grizzly Short Fund (GRZZX) and ProFunds UltraShort China (UHPIX). 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 | UHPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.06 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 0.13 | -0.54 |
| Martin ratioReturn relative to average drawdown | -0.94 | 0.25 | -1.19 |
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Drawdowns
GRZZX vs. UHPIX - Drawdown Comparison
The maximum GRZZX drawdown since its inception was -91.80%, smaller than the maximum UHPIX drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for GRZZX and UHPIX.
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Drawdown Indicators
| GRZZX | UHPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.80% | -99.98% | +8.18% |
Max Drawdown (1Y)Largest decline over 1 year | -15.84% | -44.37% | +28.53% |
Max Drawdown (3Y)Largest decline over 3 years | -31.08% | -80.64% | +49.56% |
Max Drawdown (5Y)Largest decline over 5 years | -39.06% | -96.64% | +57.58% |
Max Drawdown (10Y)Largest decline over 10 years | -73.07% | -98.57% | +25.50% |
Current DrawdownCurrent decline from peak | -89.73% | -99.96% | +10.23% |
Average DrawdownAverage peak-to-trough decline | -69.42% | -93.43% | +24.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.77% | 23.87% | -17.10% |
Volatility
GRZZX vs. UHPIX - Volatility Comparison
The current volatility for Grizzly Short Fund (GRZZX) is 4.33%, while ProFunds UltraShort China (UHPIX) has a volatility of 15.70%. This indicates that GRZZX experiences smaller price fluctuations and is considered to be less risky than UHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRZZX | UHPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 15.70% | -11.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 38.84% | -28.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.96% | 53.65% | -39.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 82.96% | -63.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.61% | 228.55% | -131.94% |
GRZZX vs. UHPIX - Expense Ratio Comparison
GRZZX has a 1.61% expense ratio, which is lower than UHPIX's 1.78% expense ratio.
Dividends
GRZZX vs. UHPIX - Dividend Comparison
GRZZX's dividend yield for the trailing twelve months is around 4.96%, more than UHPIX's 3.11% 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% |
UHPIX ProFunds UltraShort China | 3.11% | 4.29% | 0.00% | 3.45% | 0.00% | 0.00% | 0.00% | 0.55% |
Frequently Asked Questions
GRZZX and UHPIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UHPIX has higher volatility (15.70%) compared to GRZZX (4.33%). In terms of maximum drawdown, GRZZX dropped -91.80% vs UHPIX's -99.98%.
UHPIX currently has the higher Sharpe Ratio (0.11 vs -0.46), 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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