SMPIX vs. MSTR

Last updated Jun 16, 2026

SMPIX (ProFunds Semiconductor UltraSector Fund) is Leveraged Equities fund managed by ProFunds, while MSTR (Strategy Inc) is a stock. Over the past 10 years, SMPIX returned 19.12%/yr vs 22.02%/yr for MSTR. At a 0.45 correlation, their price movements are largely independent.

Performance

SMPIX vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Semiconductor UltraSector Fund (SMPIX) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMPIX achieves a 64.10% return, which is significantly higher than MSTR's -13.70% return. Over the past 10 years, SMPIX has underperformed MSTR with an annualized return of 19.12%, while MSTR has yielded a comparatively higher 22.02% annualized return.

SMPIX

• 1D: 1.30%
• 1M: 2.63%
• YTD: 64.10%
• 6M: 74.65%
• 1Y: 154.32%
• 3Y*: -10.34%
• 5Y*: 0.33%
• 10Y*: 19.12%

MSTR

• 1D: 5.78%
• 1M: -26.08%
• YTD: -13.70%
• 6M: -19.09%
• 1Y: -65.75%
• 3Y*: 64.73%
• 5Y*: 16.17%
• 10Y*: 22.02%

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

SMPIX vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMPIX ProFunds Semiconductor UltraSector Fund	64.10%	56.35%	-77.32%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%
MSTR Strategy Inc	-13.70%	-47.53%	358.54%	346.15%	-74.00%	40.13%	172.42%	11.65%	-2.70%	-33.49%

Correlation

The correlation between SMPIX and MSTR is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.45

The correlation between SMPIX and MSTR shifts across timeframes, from 0.37 (3 years) to 0.48 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SMPIX vs. MSTR — Risk / Return Rank

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

SMPIX

SMPIX Risk / Return Rank: 87
SMPIX Sharpe Ratio Rank: 95
SMPIX Sortino Ratio Rank: 75
SMPIX Omega Ratio Rank: 75
SMPIX Calmar Ratio Rank: 97
SMPIX Martin Ratio Rank: 94

MSTR

MSTR Risk / Return Rank: 8
MSTR Sharpe Ratio Rank: 7
MSTR Sortino Ratio Rank: 5
MSTR Omega Ratio Rank: 8
MSTR Calmar Ratio Rank: 9
MSTR Martin Ratio Rank: 14

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.

SMPIX vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Semiconductor UltraSector Fund (SMPIX) and Strategy Inc (MSTR). 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.

	SMPIX	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	2.94	-0.92	+3.86
Sortino ratio: Return per unit of downside risk	3.08	-1.61	+4.69
Omega ratio: Gain probability vs. loss probability	1.41	0.83	+0.59
Calmar ratio: Return relative to maximum drawdown	6.44	-0.86	+7.30
Martin ratio: Return relative to average drawdown	18.72	-1.24	+19.95

SMPIX vs. MSTR - Sharpe Ratio Comparison

The current SMPIX Sharpe Ratio is 2.94, which is higher than the MSTR Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of SMPIX and MSTR, 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

SMPIX vs. MSTR - Drawdown Comparison

The maximum SMPIX drawdown since its inception was -94.52%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SMPIX and MSTR.

Drawdown Indicators

	SMPIX	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-94.52%	-99.86%	+5.34%
Max Drawdown (1Y) Largest decline over 1 year	-22.72%	-76.53%	+53.81%
Max Drawdown (3Y) Largest decline over 3 years	-94.52%	-77.42%	-17.10%
Max Drawdown (5Y) Largest decline over 5 years	-94.52%	-84.11%	-10.41%
Max Drawdown (10Y) Largest decline over 10 years	-94.52%	-89.27%	-5.25%
Current Drawdown Current decline from peak	-75.23%	-72.32%	-2.91%
Average Drawdown Average peak-to-trough decline	-57.63%	-86.45%	+28.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.81%	53.20%	-45.39%

Volatility

SMPIX vs. MSTR - Volatility Comparison

ProFunds Semiconductor UltraSector Fund (SMPIX) and Strategy Inc (MSTR) have volatilities of 22.44% and 21.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMPIX	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.44%	21.84%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	39.97%	57.65%	-17.68%
Volatility (1Y) Calculated over the trailing 1-year period	49.82%	71.53%	-21.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.25%	90.56%	-19.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.50%	73.85%	-14.35%

Dividends

SMPIX vs. MSTR - Dividend Comparison

SMPIX's dividend yield for the trailing twelve months is around 7.93%, while MSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTR Strategy Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMPIX ProFunds Semiconductor UltraSector Fund	7.93%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%

Frequently Asked Questions

Can I hold both SMPIX and MSTR in my portfolio?

SMPIX and MSTR have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMPIX or MSTR?

SMPIX has higher volatility (22.44%) compared to MSTR (21.84%). In terms of maximum drawdown, SMPIX dropped -94.52% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (2.94 vs -0.92), 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.