PHPIX vs. USNQX

Last updated Jun 24, 2026

PHPIX (ProFunds Pharmaceuticals UltraSector Fund) and USNQX (USAA Nasdaq 100 Index Fund) are both mutual funds - PHPIX is a Leveraged Equities fund managed by ProFunds, while USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 10 years, PHPIX returned 7.46%/yr vs 22.17%/yr for USNQX. A 0.54 correlation means they provide meaningful diversification when combined. PHPIX charges 1.78%/yr vs 0.42%/yr for USNQX.

Performance

PHPIX vs. USNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Pharmaceuticals UltraSector Fund (PHPIX) and USAA Nasdaq 100 Index Fund (USNQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHPIX achieves a 13.64% return, which is significantly lower than USNQX's 20.37% return. Over the past 10 years, PHPIX has underperformed USNQX with an annualized return of 7.46%, while USNQX has yielded a comparatively higher 22.17% annualized return.

PHPIX

• 1D: 2.45%
• 1M: 10.82%
• YTD: 13.64%
• 6M: 12.32%
• 1Y: 77.77%
• 3Y*: 17.28%
• 5Y*: 9.68%
• 10Y*: 7.46%

USNQX

• 1D: -0.19%
• 1M: 3.00%
• YTD: 20.37%
• 6M: 18.78%
• 1Y: 39.22%
• 3Y*: 27.25%
• 5Y*: 16.67%
• 10Y*: 22.17%

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

PHPIX vs. USNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHPIX ProFunds Pharmaceuticals UltraSector Fund	13.64%	41.41%	1.36%	-11.28%	-10.73%	28.10%	15.48%	19.98%	-14.91%	10.19%
USNQX USAA Nasdaq 100 Index Fund	20.37%	20.52%	25.42%	54.46%	-32.71%	26.82%	48.31%	38.86%	-0.43%	32.30%

Correlation

The correlation between PHPIX and USNQX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 27, 2000	0.54

The correlation between PHPIX and USNQX shifts across timeframes, from 0.37 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PHPIX vs. USNQX — Risk / Return Rank

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

PHPIX

PHPIX Risk / Return Rank: 79
PHPIX Sharpe Ratio Rank: 83
PHPIX Sortino Ratio Rank: 72
PHPIX Omega Ratio Rank: 58
PHPIX Calmar Ratio Rank: 91
PHPIX Martin Ratio Rank: 89

USNQX

USNQX Risk / Return Rank: 69
USNQX Sharpe Ratio Rank: 74
USNQX Sortino Ratio Rank: 61
USNQX Omega Ratio Rank: 63
USNQX Calmar Ratio Rank: 79
USNQX Martin Ratio Rank: 70

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.

PHPIX vs. USNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Pharmaceuticals UltraSector Fund (PHPIX) and USAA Nasdaq 100 Index Fund (USNQX). 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.

	PHPIX	USNQX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.31	+0.21
Sortino ratio: Return per unit of downside risk	3.21	3.00	+0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.02
Calmar ratio: Return relative to maximum drawdown	4.57	3.39	+1.18
Martin ratio: Return relative to average drawdown	15.91	12.56	+3.34

PHPIX vs. USNQX - Sharpe Ratio Comparison

The current PHPIX Sharpe Ratio is 2.51, which is comparable to the USNQX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PHPIX and USNQX, 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

PHPIX vs. USNQX - Drawdown Comparison

The maximum PHPIX drawdown since its inception was -77.37%, roughly equal to the maximum USNQX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for PHPIX and USNQX.

Drawdown Indicators

	PHPIX	USNQX	Difference
Max Drawdown Largest peak-to-trough decline	-77.37%	-76.24%	-1.13%
Max Drawdown (1Y) Largest decline over 1 year	-17.65%	-12.07%	-5.58%
Max Drawdown (3Y) Largest decline over 3 years	-35.00%	-22.88%	-12.12%
Max Drawdown (5Y) Largest decline over 5 years	-39.21%	-36.95%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	-45.46%	-36.95%	-8.51%
Current Drawdown Current decline from peak	0.00%	-0.97%	+0.97%
Average Drawdown Average peak-to-trough decline	-31.64%	-26.70%	-4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.06%	3.25%	+1.81%

Volatility

PHPIX vs. USNQX - Volatility Comparison

ProFunds Pharmaceuticals UltraSector Fund (PHPIX) has a higher volatility of 9.41% compared to USAA Nasdaq 100 Index Fund (USNQX) at 8.38%. This indicates that PHPIX's price experiences larger fluctuations and is considered to be riskier than USNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHPIX	USNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.41%	8.38%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	24.66%	14.20%	+10.46%
Volatility (1Y) Calculated over the trailing 1-year period	32.14%	17.75%	+14.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.38%	23.14%	+5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.95%	22.79%	+5.16%

PHPIX vs. USNQX - Expense Ratio Comparison

PHPIX has a 1.78% expense ratio, which is higher than USNQX's 0.42% expense ratio.

Dividends

PHPIX vs. USNQX - Dividend Comparison

PHPIX's dividend yield for the trailing twelve months is around 0.78%, less than USNQX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHPIX ProFunds Pharmaceuticals UltraSector Fund	0.78%	0.89%	1.06%	0.48%	0.00%	11.83%	0.38%	0.00%	4.17%	0.00%	0.00%	0.08%
USNQX USAA Nasdaq 100 Index Fund	2.50%	3.01%	2.19%	2.60%	4.13%	4.48%	1.53%	0.88%	0.69%	1.97%	0.50%	2.73%

Frequently Asked Questions

Can I hold both PHPIX and USNQX in my portfolio?

PHPIX and USNQX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PHPIX or USNQX?

PHPIX has higher volatility (9.41%) compared to USNQX (8.38%). In terms of maximum drawdown, PHPIX dropped -77.37% vs USNQX's -76.24%.

Which has better risk-adjusted returns?

PHPIX currently has the higher Sharpe Ratio (2.51 vs 2.31), 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.