MDPIX vs. SMPIX

Last updated Jun 24, 2026

MDPIX (ProFunds Mid Cap Fund) and SMPIX (ProFunds Semiconductor UltraSector Fund Investor Class) are both mutual funds - MDPIX is a Mid Cap Blend Equities fund managed by ProFunds, while SMPIX is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (150% Daily). Over the past 10 years, MDPIX returned 9.57%/yr vs 20.71%/yr for SMPIX. A 0.70 correlation means they provide meaningful diversification when combined. MDPIX charges 1.82%/yr vs 1.52%/yr for SMPIX.

Performance

MDPIX vs. SMPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Mid Cap Fund (MDPIX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDPIX achieves a 14.70% return, which is significantly lower than SMPIX's 80.13% return. Over the past 10 years, MDPIX has underperformed SMPIX with an annualized return of 9.57%, while SMPIX has yielded a comparatively higher 20.71% annualized return.

MDPIX

• 1D: 0.38%
• 1M: 3.56%
• YTD: 14.70%
• 6M: 12.58%
• 1Y: 24.32%
• 3Y*: 14.31%
• 5Y*: 6.75%
• 10Y*: 9.57%

SMPIX

• 1D: 1.05%
• 1M: 13.00%
• YTD: 80.13%
• 6M: 76.63%
• 1Y: 170.88%
• 3Y*: -6.27%
• 5Y*: 2.00%
• 10Y*: 20.71%

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

MDPIX vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDPIX ProFunds Mid Cap Fund	14.70%	5.68%	11.55%	14.16%	-14.81%	21.89%	11.24%	23.46%	-12.78%	14.18%
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	80.13%	56.35%	-77.32%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between MDPIX and SMPIX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Aug 31, 2001	0.70

Over the past year, the correlation between MDPIX and SMPIX has dropped to 0.45 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

MDPIX vs. SMPIX — Risk / Return Rank

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

MDPIX

MDPIX Risk / Return Rank: 44
MDPIX Sharpe Ratio Rank: 37
MDPIX Sortino Ratio Rank: 37
MDPIX Omega Ratio Rank: 34
MDPIX Calmar Ratio Rank: 60
MDPIX Martin Ratio Rank: 53

SMPIX

SMPIX Risk / Return Rank: 89
SMPIX Sharpe Ratio Rank: 97
SMPIX Sortino Ratio Rank: 77
SMPIX Omega Ratio Rank: 78
SMPIX Calmar Ratio Rank: 98
SMPIX Martin Ratio Rank: 96

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.

MDPIX vs. SMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Mid Cap Fund (MDPIX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). 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.

	MDPIX	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	3.42	-1.81
Sortino ratio: Return per unit of downside risk	2.36	3.37	-1.02
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	2.82	7.67	-4.84
Martin ratio: Return relative to average drawdown	10.13	22.13	-12.00

MDPIX vs. SMPIX - Sharpe Ratio Comparison

The current MDPIX Sharpe Ratio is 1.62, which is lower than the SMPIX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of MDPIX and SMPIX, 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

MDPIX vs. SMPIX - Drawdown Comparison

The maximum MDPIX drawdown since its inception was -57.32%, smaller than the maximum SMPIX drawdown of -94.52%. Use the drawdown chart below to compare losses from any high point for MDPIX and SMPIX.

Drawdown Indicators

	MDPIX	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.32%	-94.52%	+37.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-22.72%	+13.70%
Max Drawdown (3Y) Largest decline over 3 years	-24.59%	-94.52%	+69.93%
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	-94.52%	+69.66%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-94.52%	+52.45%
Current Drawdown Current decline from peak	-0.06%	-72.81%	+72.75%
Average Drawdown Average peak-to-trough decline	-8.67%	-57.64%	+48.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	7.85%	-5.34%

Volatility

MDPIX vs. SMPIX - Volatility Comparison

The current volatility for ProFunds Mid Cap Fund (MDPIX) is 4.54%, while ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) has a volatility of 23.65%. This indicates that MDPIX experiences smaller price fluctuations and is considered to be less risky than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDPIX	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	23.65%	-19.11%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	40.05%	-28.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	50.99%	-35.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	71.47%	-51.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	59.64%	-38.89%

MDPIX vs. SMPIX - Expense Ratio Comparison

MDPIX has a 1.82% expense ratio, which is higher than SMPIX's 1.52% expense ratio.

Dividends

MDPIX vs. SMPIX - Dividend Comparison

MDPIX's dividend yield for the trailing twelve months is around 0.36%, less than SMPIX's 7.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDPIX ProFunds Mid Cap Fund	0.36%	0.41%	1.26%	0.00%	0.00%	1.79%	0.24%	5.00%	3.00%	7.60%	0.00%	0.05%
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	7.23%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%

Frequently Asked Questions

Can I hold both MDPIX and SMPIX in my portfolio?

MDPIX and SMPIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDPIX or SMPIX?

SMPIX has higher volatility (23.65%) compared to MDPIX (4.54%). In terms of maximum drawdown, MDPIX dropped -57.32% vs SMPIX's -94.52%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (3.42 vs 1.62), 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.