SOPIX vs. USPIX
SOPIX (ProFunds Short NASDAQ-100 Fund) and USPIX (ProFunds UltraShort NASDAQ-100 Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, SOPIX returned -19.61%/yr vs -38.40%/yr for USPIX. Their 0.99 correlation means they have historically moved very closely together. SOPIX charges 1.78%/yr vs 1.68%/yr for USPIX.
Performance
SOPIX vs. USPIX - Performance Comparison
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Returns By Period
In the year-to-date period, SOPIX achieves a -9.87% return, which is significantly higher than USPIX's -21.82% return. Over the past 10 years, SOPIX has outperformed USPIX with an annualized return of -19.61%, while USPIX has yielded a comparatively lower -38.40% 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%
USPIX
- 1D
- -6.68%
- 1M
- 8.37%
- 6M
- -20.22%
- YTD
- -21.82%
- 1Y
- -35.87%
- 3Y*
- -34.61%
- 5Y*
- -29.64%
- 10Y*
- -38.40%
- ALL TIME*
- -35.20%
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. USPIX - 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% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | -21.82% | -35.26% | -38.20% | -57.06% | 61.80% | -46.20% | -70.91% | -50.15% | -9.56% | -44.56% |
Correlation
The correlation between SOPIX and USPIX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | 0.99 |
The correlation between SOPIX and USPIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
SOPIX vs. USPIX — Risk / Return Rank
SOPIX
USPIX
SOPIX vs. USPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Short NASDAQ-100 Fund (SOPIX) and ProFunds UltraShort NASDAQ-100 Fund (USPIX). 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 | USPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.87 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | -0.73 | +0.10 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.33 | +0.12 |
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Drawdowns
SOPIX vs. USPIX - Drawdown Comparison
The maximum SOPIX drawdown since its inception was -99.07%, roughly equal to the maximum USPIX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SOPIX and USPIX.
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Drawdown Indicators
| SOPIX | USPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -100.00% | +0.93% |
Max Drawdown (1Y)Largest decline over 1 year | -24.87% | -45.06% | +20.19% |
Max Drawdown (3Y)Largest decline over 3 years | -54.87% | -80.96% | +26.09% |
Max Drawdown (5Y)Largest decline over 5 years | -65.00% | -89.53% | +24.53% |
Max Drawdown (10Y)Largest decline over 10 years | -89.76% | -99.34% | +9.58% |
Current DrawdownCurrent decline from peak | -98.99% | -100.00% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -76.28% | -96.44% | +20.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.79% | 24.54% | -11.75% |
Volatility
SOPIX vs. USPIX - Volatility Comparison
The current volatility for ProFunds Short NASDAQ-100 Fund (SOPIX) is 6.90%, while ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a volatility of 13.82%. This indicates that SOPIX experiences smaller price fluctuations and is considered to be less risky than USPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOPIX | USPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.90% | 13.82% | -6.92% |
Volatility (6M)Calculated over the trailing 6-month period | 15.93% | 31.92% | -15.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.30% | 38.65% | -19.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.86% | 46.17% | -22.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.69% | 44.75% | -22.06% |
SOPIX vs. USPIX - Expense Ratio Comparison
SOPIX has a 1.78% expense ratio, which is higher than USPIX's 1.68% expense ratio.
Dividends
SOPIX vs. USPIX - Dividend Comparison
SOPIX's dividend yield for the trailing twelve months is around 2.38%, less than USPIX's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SOPIX ProFunds Short NASDAQ-100 Fund | 2.38% | 2.14% | 0.00% | 6.71% | 0.00% | 0.00% | 0.00% | 0.29% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | 3.46% | 2.71% | 0.00% | 5.92% | 0.00% | 0.00% | 0.07% | 0.36% |
Frequently Asked Questions
With a correlation of 1.00, SOPIX and USPIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
USPIX has higher volatility (13.82%) compared to SOPIX (6.90%). In terms of maximum drawdown, SOPIX dropped -99.07% vs USPIX's -100.00%.
SOPIX currently has the higher Sharpe Ratio (-0.80 vs -0.85), 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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