SHPIX vs. GRZZX
SHPIX (ProFunds Short Small Cap ProFund) and GRZZX (Grizzly Short Fund) are both Inverse Equities funds. Over the past 10 years, SHPIX returned 9.15%/yr vs -1.17%/yr for GRZZX. Their correlation of 0.90 suggests significant overlap in exposure. SHPIX charges 1.78%/yr vs 1.61%/yr for GRZZX.
Performance
SHPIX vs. GRZZX - Performance Comparison
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Returns By Period
In the year-to-date period, SHPIX achieves a -16.89% return, which is significantly lower than GRZZX's -5.94% return. Over the past 10 years, SHPIX has outperformed GRZZX with an annualized return of 9.15%, while GRZZX has yielded a comparatively lower -1.17% annualized return.
SHPIX
- 1D
- -2.09%
- 1M
- -3.75%
- YTD
- -16.89%
- 6M
- -14.24%
- 1Y
- -28.65%
- 3Y*
- 9.00%
- 5Y*
- 46.82%
- 10Y*
- 9.15%
GRZZX
- 1D
- -1.01%
- 1M
- -1.39%
- YTD
- -5.94%
- 6M
- -4.44%
- 1Y
- -9.50%
- 3Y*
- -6.19%
- 5Y*
- -3.60%
- 10Y*
- -1.17%
SHPIX vs. GRZZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHPIX ProFunds Short Small Cap ProFund | -16.89% | -9.61% | 83.27% | 344.97% | 16.39% | -19.78% | -31.60% | -20.89% | 9.96% | -14.49% |
GRZZX Grizzly Short Fund | -5.94% | -2.98% | -6.74% | -18.72% | 22.43% | -15.87% | -41.33% | -29.43% | 301.98% | -19.84% |
Correlation
The correlation between SHPIX and GRZZX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | 0.90 |
The correlation between SHPIX and GRZZX has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
SHPIX vs. GRZZX — Risk / Return Rank
SHPIX
GRZZX
SHPIX vs. GRZZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Short Small Cap ProFund (SHPIX) and Grizzly Short Fund (GRZZX). 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 | GRZZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.90 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.69 | -0.31 |
| Martin ratioReturn relative to average drawdown | -1.71 | -1.45 | -0.26 |
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Drawdowns
SHPIX vs. GRZZX - Drawdown Comparison
The maximum SHPIX drawdown since its inception was -96.86%, which is greater than GRZZX's maximum drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for SHPIX and GRZZX.
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Drawdown Indicators
| SHPIX | GRZZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.86% | -91.80% | -5.06% |
Max Drawdown (1Y)Largest decline over 1 year | -27.89% | -13.89% | -14.00% |
Max Drawdown (3Y)Largest decline over 3 years | -40.69% | -29.48% | -11.21% |
Max Drawdown (5Y)Largest decline over 5 years | -40.69% | -37.65% | -3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -70.45% | -72.45% | +2.00% |
Current DrawdownCurrent decline from peak | -75.90% | -89.51% | +13.61% |
Average DrawdownAverage peak-to-trough decline | -74.99% | -69.38% | -5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.68% | 6.57% | +10.11% |
Volatility
SHPIX vs. GRZZX - Volatility Comparison
ProFunds Short Small Cap ProFund (SHPIX) has a higher volatility of 6.73% compared to Grizzly Short Fund (GRZZX) at 4.57%. This indicates that SHPIX's price experiences larger fluctuations and is considered to be riskier than GRZZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHPIX | GRZZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 4.57% | +2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.36% | 10.57% | +3.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.65% | 13.99% | +5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 188.94% | 19.59% | +169.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.61% | 96.63% | +37.98% |
SHPIX vs. GRZZX - Expense Ratio Comparison
SHPIX has a 1.78% expense ratio, which is higher than GRZZX's 1.61% expense ratio.
Dividends
SHPIX vs. GRZZX - Dividend Comparison
SHPIX's dividend yield for the trailing twelve months is around 33.30%, more than GRZZX's 4.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | 4.86% | 6.00% | 10.30% | 6.61% | 0.00% | 0.00% | 0.00% | 1.14% |
SHPIX ProFunds Short Small Cap ProFund | 33.30% | 5.70% | 0.00% | 17.01% | 0.00% | 0.00% | 0.00% | 0.85% |
Frequently Asked Questions
SHPIX and GRZZX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHPIX has higher volatility (6.73%) compared to GRZZX (4.57%). In terms of maximum drawdown, SHPIX dropped -96.86% vs GRZZX's -91.80%.
GRZZX currently has the higher Sharpe Ratio (-0.68 vs -1.46), 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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