SHPIX vs. BTCFX

Last updated Apr 1, 2026

Compare and contrast key facts about ProFunds Short Small Cap ProFund (SHPIX) and Bitcoin ProFund Investor (BTCFX).

SHPIX is managed by ProFunds. It was launched on Apr 30, 2002. BTCFX is managed by ProFunds. It was launched on Jul 28, 2021.

Performance

SHPIX vs. BTCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Short Small Cap ProFund (SHPIX) and Bitcoin ProFund Investor (BTCFX). The values are adjusted to include any dividend payments, if applicable.

SHPIX vs. BTCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHPIX ProFunds Short Small Cap ProFund	2.74%	-9.61%	-8.36%	-11.01%	16.39%	-3.62%
BTCFX Bitcoin ProFund Investor	-24.74%	-11.83%	102.93%	133.31%	-64.04%	-3.69%

Returns By Period

In the year-to-date period, SHPIX achieves a 2.74% return, which is significantly higher than BTCFX's -24.74% return.

SHPIX

• 1D: 1.48%
• 1M: 8.78%
• YTD: 2.74%
• 6M: 1.16%
• 1Y: -16.75%
• 3Y*: -8.22%
• 5Y*: -3.92%
• 10Y*: -11.86%

BTCFX

• 1D: 0.68%
• 1M: 0.89%
• YTD: -24.74%
• 6M: -43.37%
• 1Y: -23.48%
• 3Y*: 22.62%
• 5Y*: —
• 10Y*: —

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

SHPIX vs. BTCFX - Expense Ratio Comparison

SHPIX has a 1.78% expense ratio, which is higher than BTCFX's 1.41% expense ratio.

SHPIX

ProFunds Short Small Cap ProFund

BTCFX

Bitcoin ProFund Investor

Return for Risk

SHPIX vs. BTCFX — Risk / Return Rank

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

SHPIX

SHPIX Risk / Return Rank: 2
SHPIX Sharpe Ratio Rank: 1
SHPIX Sortino Ratio Rank: 1
SHPIX Omega Ratio Rank: 1
SHPIX Calmar Ratio Rank: 2
SHPIX Martin Ratio Rank: 4

BTCFX

BTCFX Risk / Return Rank: 2
BTCFX Sharpe Ratio Rank: 1
BTCFX Sortino Ratio Rank: 2
BTCFX Omega Ratio Rank: 2
BTCFX Calmar Ratio Rank: 1
BTCFX Martin Ratio Rank: 2

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.

SHPIX vs. BTCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Short Small Cap ProFund (SHPIX) and Bitcoin ProFund Investor (BTCFX). 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.

	SHPIX	BTCFX	Difference
Sharpe ratio Return per unit of total volatility	-0.71	-0.54	-0.17
Sortino ratio Return per unit of downside risk	-0.90	-0.54	-0.35
Omega ratio Gain probability vs. loss probability	0.89	0.94	-0.05
Calmar ratio Return relative to maximum drawdown	-0.42	-0.55	+0.13
Martin ratio Return relative to average drawdown	-0.57	-1.17	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHPIX vs. BTCFX - Sharpe Ratio Comparison

The current SHPIX Sharpe Ratio is -0.71, which is lower than the BTCFX Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of SHPIX and BTCFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHPIX	BTCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	-0.54	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	0.03	-0.18

Correlation

The correlation between SHPIX and BTCFX is -0.43. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SHPIX vs. BTCFX - Dividend Comparison

SHPIX's dividend yield for the trailing twelve months is around 14.75%, less than BTCFX's 50.55% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
SHPIX ProFunds Short Small Cap ProFund	14.75%	5.70%	0.00%	17.01%	0.00%	0.00%	0.00%	0.85%
BTCFX Bitcoin ProFund Investor	50.55%	44.62%	24.28%	10.95%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SHPIX vs. BTCFX - Drawdown Comparison

The maximum SHPIX drawdown since its inception was -99.27%, which is greater than BTCFX's maximum drawdown of -77.89%. Use the drawdown chart below to compare losses from any high point for SHPIX and BTCFX.

Drawdown Indicators

	SHPIX	BTCFX	Difference
Max Drawdown Largest peak-to-trough decline	-99.27%	-77.89%	-21.38%
Max Drawdown (1Y) Largest decline over 1 year	-34.74%	-50.35%	+15.61%
Max Drawdown (5Y) Largest decline over 5 years	-83.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.19%	—	—
Current Drawdown Current decline from peak	-97.02%	-48.39%	-48.63%
Average Drawdown Average peak-to-trough decline	-77.77%	-35.74%	-42.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.32%	23.55%	+1.77%

Volatility

SHPIX vs. BTCFX - Volatility Comparison

The current volatility for ProFunds Short Small Cap ProFund (SHPIX) is 6.54%, while Bitcoin ProFund Investor (BTCFX) has a volatility of 14.09%. This indicates that SHPIX experiences smaller price fluctuations and is considered to be less risky than BTCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHPIX	BTCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	14.09%	-7.55%
Volatility (6M) Calculated over the trailing 6-month period	14.07%	37.30%	-23.23%
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	45.81%	-22.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	193.64%	56.08%	+137.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	137.90%	56.08%	+81.82%