SHPIX vs. UOPIX
SHPIX (ProFunds Short Small Cap ProFund) and UOPIX (ProFunds UltraNASDAQ-100 Fund) are both mutual funds - SHPIX is a Inverse Equities fund managed by ProFunds, while UOPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, SHPIX returned 9.72%/yr vs 32.98%/yr for UOPIX. At a correlation of -0.77, they often move in opposite directions. SHPIX charges 1.78%/yr vs 1.47%/yr for UOPIX.
Performance
SHPIX vs. UOPIX - Performance Comparison
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Returns By Period
In the year-to-date period, SHPIX achieves a -16.57% return, which is significantly lower than UOPIX's 29.74% return. Over the past 10 years, SHPIX has underperformed UOPIX with an annualized return of 9.72%, while UOPIX has yielded a comparatively higher 32.98% annualized return.
SHPIX
- 1D
- -0.38%
- 1M
- -0.98%
- 6M
- -10.20%
- YTD
- -16.57%
- 1Y
- -24.53%
- 3Y*
- 10.09%
- 5Y*
- 46.06%
- 10Y*
- 9.72%
UOPIX
- 1D
- -0.59%
- 1M
- -3.96%
- 6M
- 27.07%
- YTD
- 29.74%
- 1Y
- 53.06%
- 3Y*
- 39.06%
- 5Y*
- 19.07%
- 10Y*
- 32.98%
SHPIX vs. UOPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHPIX ProFunds Short Small Cap ProFund | -16.57% | -9.61% | 83.27% | 344.97% | 16.39% | -19.78% | -31.60% | -20.89% | 9.96% | -14.49% |
UOPIX ProFunds UltraNASDAQ-100 Fund | 29.74% | 30.26% | 41.75% | 115.97% | -60.70% | 48.28% | 86.57% | 80.53% | -9.41% | 68.58% |
Correlation
The correlation between SHPIX and UOPIX is -0.69, 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 | -0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | -0.77 |
The correlation between SHPIX and UOPIX shifts across timeframes, from -0.77 (all time) to -0.66 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHPIX vs. UOPIX — Risk / Return Rank
SHPIX
UOPIX
SHPIX vs. UOPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Short Small Cap ProFund (SHPIX) and ProFunds UltraNASDAQ-100 Fund (UOPIX). 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 | UOPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.76 | ||
| Sortino ratioReturn per unit of downside risk | -3.78 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.25 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 2.15 | -3.05 |
| Martin ratioReturn relative to average drawdown | -1.54 | 7.05 | -8.59 |
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Drawdowns
SHPIX vs. UOPIX - Drawdown Comparison
The maximum SHPIX drawdown since its inception was -96.86%, roughly equal to the maximum UOPIX drawdown of -99.00%. Use the drawdown chart below to compare losses from any high point for SHPIX and UOPIX.
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Drawdown Indicators
| SHPIX | UOPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.86% | -99.00% | +2.14% |
Max Drawdown (1Y)Largest decline over 1 year | -27.97% | -24.97% | -3.00% |
Max Drawdown (3Y)Largest decline over 3 years | -41.50% | -42.52% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -41.50% | -65.01% | +23.51% |
Max Drawdown (10Y)Largest decline over 10 years | -68.01% | -65.01% | -3.00% |
Current DrawdownCurrent decline from peak | -75.80% | -8.89% | -66.91% |
Average DrawdownAverage peak-to-trough decline | -74.99% | -67.45% | -7.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.49% | 7.58% | +8.91% |
Volatility
SHPIX vs. UOPIX - Volatility Comparison
The current volatility for ProFunds Short Small Cap ProFund (SHPIX) is 3.80%, while ProFunds UltraNASDAQ-100 Fund (UOPIX) has a volatility of 15.68%. This indicates that SHPIX experiences smaller price fluctuations and is considered to be less risky than UOPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHPIX | UOPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 15.68% | -11.88% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 30.63% | -16.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.44% | 37.13% | -17.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 189.01% | 45.89% | +143.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.65% | 44.44% | +90.21% |
SHPIX vs. UOPIX - Expense Ratio Comparison
SHPIX has a 1.78% expense ratio, which is higher than UOPIX's 1.47% expense ratio.
Dividends
SHPIX vs. UOPIX - Dividend Comparison
SHPIX's dividend yield for the trailing twelve months is around 33.17%, more than UOPIX's 14.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SHPIX ProFunds Short Small Cap ProFund | 33.17% | 5.70% | 0.00% | 17.01% | 0.00% | 0.00% | 0.00% | 0.85% | 0.00% |
UOPIX ProFunds UltraNASDAQ-100 Fund | 14.08% | 18.27% | 0.41% | 0.00% | 5.64% | 11.03% | 9.78% | 5.78% | 6.73% |
Frequently Asked Questions
SHPIX and UOPIX have a correlation of -0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UOPIX has higher volatility (15.68%) compared to SHPIX (3.80%). In terms of maximum drawdown, SHPIX dropped -96.86% vs UOPIX's -99.00%.
UOPIX currently has the higher Sharpe Ratio (1.44 vs -1.31), 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.
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