SOPIX vs. BIPIX
SOPIX (ProFunds Short NASDAQ-100 Fund) and BIPIX (ProFunds Biotechnology UltraSector Fund) are both mutual funds - SOPIX is a Inverse Equities fund managed by ProFunds, while BIPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, SOPIX returned -19.61%/yr vs 8.18%/yr for BIPIX. Their -0.65 correlation means they have often moved in opposite directions in the past. SOPIX charges 1.78%/yr vs 1.49%/yr for BIPIX.
Performance
SOPIX vs. BIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, SOPIX achieves a -9.87% return, which is significantly lower than BIPIX's 33.52% return. Over the past 10 years, SOPIX has underperformed BIPIX with an annualized return of -19.61%, while BIPIX has yielded a comparatively higher 8.18% annualized return.
SOPIX
- 1D
- -3.36%
- 1M
- 4.31%
- 6M
- -9.07%
- YTD
- -9.87%
- 1Y
- -17.52%
- 3Y*
- -17.93%
- 5Y*
- -14.03%
- 10Y*
- -19.61%
- ALL TIME*
- -17.47%
BIPIX
- 1D
- 3.64%
- 1M
- -8.66%
- 6M
- 29.72%
- YTD
- 33.52%
- 1Y
- 122.13%
- 3Y*
- 15.54%
- 5Y*
- 2.69%
- 10Y*
- 8.18%
- ALL TIME*
- 6.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SOPIX vs. BIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOPIX ProFunds Short NASDAQ-100 Fund | -9.87% | -15.80% | -23.82% | -31.85% | 34.73% | -25.69% | -42.92% | -28.29% | -3.07% | -25.24% |
BIPIX ProFunds Biotechnology UltraSector Fund | 33.52% | 47.99% | -25.91% | 9.55% | -13.43% | 5.00% | 19.94% | 23.65% | -12.15% | 34.71% |
Correlation
The correlation between SOPIX and BIPIX is -0.40, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | -0.65 |
Over the past year, the inverse relationship between SOPIX and BIPIX has weakened: their correlation has moved from -0.65 to -0.40, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SOPIX vs. BIPIX — Risk / Return Rank
SOPIX
BIPIX
SOPIX vs. BIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Short NASDAQ-100 Fund (SOPIX) and ProFunds Biotechnology UltraSector Fund (BIPIX). 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.
| SOPIX | BIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.62 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.42 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 8.00 | -8.62 |
| Martin ratioReturn relative to average drawdown | -1.21 | 21.22 | -22.43 |
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Drawdowns
SOPIX vs. BIPIX - Drawdown Comparison
The maximum SOPIX drawdown since its inception was -99.07%, which is greater than BIPIX's maximum drawdown of -84.51%. Use the drawdown chart below to compare losses from any high point for SOPIX and BIPIX.
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Drawdown Indicators
| SOPIX | BIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -84.51% | -14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -24.87% | -15.15% | -9.72% |
Max Drawdown (3Y)Largest decline over 3 years | -54.87% | -59.50% | +4.63% |
Max Drawdown (5Y)Largest decline over 5 years | -65.00% | -63.86% | -1.14% |
Max Drawdown (10Y)Largest decline over 10 years | -89.76% | -63.86% | -25.90% |
Current DrawdownCurrent decline from peak | -98.99% | -11.67% | -87.32% |
Average DrawdownAverage peak-to-trough decline | -76.28% | -37.04% | -39.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.79% | 5.70% | +7.09% |
Volatility
SOPIX vs. BIPIX - Volatility Comparison
The current volatility for ProFunds Short NASDAQ-100 Fund (SOPIX) is 6.90%, while ProFunds Biotechnology UltraSector Fund (BIPIX) has a volatility of 11.92%. This indicates that SOPIX experiences smaller price fluctuations and is considered to be less risky than BIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOPIX | BIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.90% | 11.92% | -5.02% |
Volatility (6M)Calculated over the trailing 6-month period | 15.93% | 31.90% | -15.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.30% | 40.21% | -20.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.86% | 40.38% | -16.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.69% | 36.54% | -13.85% |
SOPIX vs. BIPIX - Expense Ratio Comparison
SOPIX has a 1.78% expense ratio, which is higher than BIPIX's 1.49% expense ratio.
Dividends
SOPIX vs. BIPIX - Dividend Comparison
SOPIX's dividend yield for the trailing twelve months is around 2.38%, more than BIPIX's 0.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BIPIX ProFunds Biotechnology UltraSector Fund | 0.27% | 0.37% | 0.23% | 6.69% | 0.00% | 0.79% | 12.09% | 3.26% | 5.52% | 7.19% |
SOPIX ProFunds Short NASDAQ-100 Fund | 2.38% | 2.14% | 0.00% | 6.71% | 0.00% | 0.00% | 0.00% | 0.29% | 0.00% | 0.00% |
Frequently Asked Questions
SOPIX and BIPIX 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.
BIPIX has higher volatility (11.92%) compared to SOPIX (6.90%). In terms of maximum drawdown, SOPIX dropped -99.07% vs BIPIX's -84.51%.
BIPIX currently has the higher Sharpe Ratio (3.01 vs -0.80), 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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