GVPIX vs. OTPIX

Last updated Jul 11, 2026

GVPIX (ProFunds U.S. Government Plus ProFund) and OTPIX (ProFunds NASDAQ-100 Fund) are both mutual funds - GVPIX is a Leveraged Bonds fund managed by ProFunds, while OTPIX is a Large Cap Growth Equities fund managed by ProFunds. Over the past 10 years, GVPIX returned -6.13%/yr vs 5.37%/yr for OTPIX. At a correlation of -0.20, they often move in opposite directions. GVPIX charges 1.41%/yr vs 1.48%/yr for OTPIX.

Performance

GVPIX vs. OTPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds U.S. Government Plus ProFund (GVPIX) and ProFunds NASDAQ-100 Fund (OTPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GVPIX achieves a -3.03% return, which is significantly lower than OTPIX's 16.87% return. Over the past 10 years, GVPIX has underperformed OTPIX with an annualized return of -6.13%, while OTPIX has yielded a comparatively higher 5.37% annualized return.

GVPIX

• 1D: 0.16%
• 1M: -1.89%
• 6M: -3.30%
• YTD: -3.03%
• 1Y: 0.92%
• 3Y*: -5.52%
• 5Y*: -12.93%
• 10Y*: -6.13%

OTPIX

• 1D: 1.62%
• 1M: 0.16%
• 6M: 14.56%
• YTD: 16.87%
• 1Y: 28.72%
• 3Y*: -22.11%
• 5Y*: -11.21%
• 10Y*: 5.37%

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

GVPIX vs. OTPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GVPIX ProFunds U.S. Government Plus ProFund	-3.03%	1.62%	-14.10%	-1.95%	-41.27%	-7.66%	20.67%	18.36%	-5.23%	9.92%
OTPIX ProFunds NASDAQ-100 Fund	16.87%	18.08%	-69.20%	51.66%	-34.36%	48.75%	45.00%	36.58%	-1.75%	29.45%

Correlation

The correlation between GVPIX and OTPIX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003	-0.20

The correlation between GVPIX and OTPIX shifts across timeframes, from -0.20 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GVPIX vs. OTPIX — Risk / Return Rank

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

GVPIX

GVPIX Risk / Return Rank: 3
GVPIX Sharpe Ratio Rank: 3
GVPIX Sortino Ratio Rank: 3
GVPIX Omega Ratio Rank: 3
GVPIX Calmar Ratio Rank: 3
GVPIX Martin Ratio Rank: 3

OTPIX

OTPIX Risk / Return Rank: 47
OTPIX Sharpe Ratio Rank: 47
OTPIX Sortino Ratio Rank: 43
OTPIX Omega Ratio Rank: 44
OTPIX Calmar Ratio Rank: 54
OTPIX Martin Ratio Rank: 49

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.

GVPIX vs. OTPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds U.S. Government Plus ProFund (GVPIX) and ProFunds NASDAQ-100 Fund (OTPIX). 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.

	GVPIX	OTPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	1.54	-1.61
Sortino ratio: Return per unit of downside risk	-0.02	2.09	-2.11
Omega ratio: Gain probability vs. loss probability	1.00	1.27	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.08	2.26	-2.34
Martin ratio: Return relative to average drawdown	-0.17	8.02	-8.20

GVPIX vs. OTPIX - Sharpe Ratio Comparison

The current GVPIX Sharpe Ratio is -0.07, which is lower than the OTPIX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of GVPIX and OTPIX, 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

GVPIX vs. OTPIX - Drawdown Comparison

The maximum GVPIX drawdown since its inception was -64.42%, smaller than the maximum OTPIX drawdown of -79.55%. Use the drawdown chart below to compare losses from any high point for GVPIX and OTPIX.

Drawdown Indicators

	GVPIX	OTPIX	Difference
Max Drawdown Largest peak-to-trough decline	-64.42%	-79.55%	+15.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.31%	-12.53%	+2.22%
Max Drawdown (3Y) Largest decline over 3 years	-23.34%	-79.55%	+56.21%
Max Drawdown (5Y) Largest decline over 5 years	-56.38%	-79.55%	+23.17%
Max Drawdown (10Y) Largest decline over 10 years	-64.42%	-79.55%	+15.13%
Current Drawdown Current decline from peak	-62.59%	-65.17%	+2.58%
Average Drawdown Average peak-to-trough decline	-22.64%	-22.96%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	3.53%	+1.01%

Volatility

GVPIX vs. OTPIX - Volatility Comparison

The current volatility for ProFunds U.S. Government Plus ProFund (GVPIX) is 3.48%, while ProFunds NASDAQ-100 Fund (OTPIX) has a volatility of 8.51%. This indicates that GVPIX experiences smaller price fluctuations and is considered to be less risky than OTPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVPIX	OTPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	8.51%	-5.03%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	15.14%	-6.98%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	18.41%	-7.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	41.96%	-21.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	33.30%	-13.61%

GVPIX vs. OTPIX - Expense Ratio Comparison

GVPIX has a 1.41% expense ratio, which is lower than OTPIX's 1.48% expense ratio.

Dividends

GVPIX vs. OTPIX - Dividend Comparison

GVPIX's dividend yield for the trailing twelve months is around 2.26%, more than OTPIX's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GVPIX ProFunds U.S. Government Plus ProFund	2.26%	2.69%	2.35%	2.75%	0.00%	0.00%	0.05%	0.84%	0.65%
OTPIX ProFunds NASDAQ-100 Fund	1.48%	1.72%	0.76%	0.00%	0.00%	18.31%	1.10%	0.87%	0.00%

Frequently Asked Questions

Can I hold both GVPIX and OTPIX in my portfolio?

GVPIX and OTPIX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GVPIX or OTPIX?

OTPIX has higher volatility (8.51%) compared to GVPIX (3.48%). In terms of maximum drawdown, GVPIX dropped -64.42% vs OTPIX's -79.55%.

Which has better risk-adjusted returns?

OTPIX currently has the higher Sharpe Ratio (1.54 vs -0.07), 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.