SHPIX vs. BTCFX
SHPIX (ProFunds Short Small Cap ProFund) and BTCFX (Bitcoin ProFund Investor) are both mutual funds - SHPIX is a Inverse Equities fund managed by ProFunds, while BTCFX is a Cryptocurrency fund managed by ProFunds. Over the past 3 years, SHPIX returned 7.98%/yr vs 17.18%/yr for BTCFX. At a correlation of -0.43, they often move in opposite directions. SHPIX charges 1.78%/yr vs 1.41%/yr for BTCFX.
Performance
SHPIX vs. BTCFX - Performance Comparison
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Returns By Period
In the year-to-date period, SHPIX achieves a -16.70% return, which is significantly higher than BTCFX's -29.96% return.
SHPIX
- 1D
- 1.03%
- 1M
- -3.54%
- YTD
- -16.70%
- 6M
- -14.43%
- 1Y
- -26.76%
- 3Y*
- 7.98%
- 5Y*
- 48.24%
- 10Y*
- 8.91%
BTCFX
- 1D
- -3.25%
- 1M
- -17.91%
- YTD
- -29.96%
- 6M
- -29.83%
- 1Y
- -43.84%
- 3Y*
- 17.18%
- 5Y*
- —
- 10Y*
- —
SHPIX vs. BTCFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHPIX ProFunds Short Small Cap ProFund | -16.70% | -9.61% | 83.27% | 344.97% | 16.39% | -3.06% |
BTCFX Bitcoin ProFund Investor | -29.96% | -11.83% | 102.93% | 133.31% | -64.04% | -3.69% |
Correlation
The correlation between SHPIX and BTCFX is -0.49, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2021 | -0.43 |
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Return for Risk
SHPIX vs. BTCFX — Risk / Return Rank
SHPIX
BTCFX
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.
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.
| SHPIX | BTCFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.85 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.80 | -0.18 |
| Martin ratioReturn relative to average drawdown | -1.74 | -1.35 | -0.39 |
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Drawdowns
SHPIX vs. BTCFX - Drawdown Comparison
The maximum SHPIX drawdown since its inception was -96.86%, 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.
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Drawdown Indicators
| SHPIX | BTCFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.86% | -77.89% | -18.97% |
Max Drawdown (1Y)Largest decline over 1 year | -28.36% | -53.40% | +25.04% |
Max Drawdown (3Y)Largest decline over 3 years | -41.16% | -53.40% | +12.24% |
Max Drawdown (5Y)Largest decline over 5 years | -41.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -70.45% | — | — |
Current DrawdownCurrent decline from peak | -75.84% | -51.97% | -23.87% |
Average DrawdownAverage peak-to-trough decline | -74.99% | -36.09% | -38.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.08% | 31.54% | -15.46% |
Volatility
SHPIX vs. BTCFX - Volatility Comparison
The current volatility for ProFunds Short Small Cap ProFund (SHPIX) is 6.44%, while Bitcoin ProFund Investor (BTCFX) has a volatility of 12.95%. 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.
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Volatility by Period
| SHPIX | BTCFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.44% | 12.95% | -6.51% |
Volatility (6M)Calculated over the trailing 6-month period | 14.36% | 34.68% | -20.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.69% | 44.48% | -24.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 189.02% | 55.31% | +133.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.68% | 55.31% | +79.37% |
SHPIX vs. BTCFX - Expense Ratio Comparison
SHPIX has a 1.78% expense ratio, which is higher than BTCFX's 1.41% expense ratio.
Dividends
SHPIX vs. BTCFX - Dividend Comparison
SHPIX's dividend yield for the trailing twelve months is around 33.23%, less than BTCFX's 39.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BTCFX Bitcoin ProFund Investor | 39.95% | 44.62% | 24.28% | 10.95% | 0.00% | 0.00% | 0.00% | 0.00% |
SHPIX ProFunds Short Small Cap ProFund | 33.23% | 5.70% | 0.00% | 17.01% | 0.00% | 0.00% | 0.00% | 0.85% |
Frequently Asked Questions
SHPIX and BTCFX have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCFX has higher volatility (12.95%) compared to SHPIX (6.44%). In terms of maximum drawdown, SHPIX dropped -96.86% vs BTCFX's -77.89%.
BTCFX currently has the higher Sharpe Ratio (-0.96 vs -1.41), 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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