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 -20.40%/yr vs -39.58%/yr for USPIX. With a 0.99 correlation, they move nearly in lockstep. SOPIX charges 1.78%/yr vs 1.68%/yr for USPIX.
Performance
SOPIX vs. USPIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SOPIX achieves a -15.00% return, which is significantly higher than USPIX's -30.25% return. Over the past 10 years, SOPIX has outperformed USPIX with an annualized return of -20.40%, while USPIX has yielded a comparatively lower -39.58% annualized return.
SOPIX
- 1D
- -0.31%
- 1M
- -0.75%
- 6M
- -13.33%
- YTD
- -15.00%
- 1Y
- -21.88%
- 3Y*
- -20.54%
- 5Y*
- -15.02%
- 10Y*
- -20.40%
USPIX
- 1D
- -0.63%
- 1M
- -2.12%
- 6M
- -27.42%
- YTD
- -30.25%
- 1Y
- -42.41%
- 3Y*
- -38.71%
- 5Y*
- -31.51%
- 10Y*
- -39.58%
SOPIX vs. USPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOPIX ProFunds Short NASDAQ-100 Fund | -15.00% | -15.80% | -23.82% | -31.85% | 34.73% | -25.69% | -42.92% | -28.29% | -3.07% | -25.24% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | -30.25% | -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 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 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.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.80 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.94 | +0.06 |
| Martin ratioReturn relative to average drawdown | -1.82 | -1.85 | +0.02 |
Loading charts...
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.
Loading charts...
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 | -89.99% | -99.37% | +9.38% |
Current DrawdownCurrent decline from peak | -99.05% | -100.00% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -76.22% | -96.44% | +20.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.91% | 22.87% | -10.96% |
Volatility
SOPIX vs. USPIX - Volatility Comparison
The current volatility for ProFunds Short NASDAQ-100 Fund (SOPIX) is 8.45%, while ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a volatility of 16.92%. 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.
Loading charts...
Volatility by Period
| SOPIX | USPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.45% | 16.92% | -8.47% |
Volatility (6M)Calculated over the trailing 6-month period | 15.09% | 30.22% | -15.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.36% | 36.80% | -18.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 45.90% | -22.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.61% | 44.60% | -21.99% |
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 2.52%, less than USPIX's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SOPIX ProFunds Short NASDAQ-100 Fund | 2.52% | 2.14% | 0.00% | 6.71% | 0.00% | 0.00% | 0.00% | 0.29% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | 3.88% | 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 (16.92%) compared to SOPIX (8.45%). In terms of maximum drawdown, SOPIX dropped -99.07% vs USPIX's -100.00%.
USPIX currently has the higher Sharpe Ratio (-1.15 vs -1.19), 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.
Find the right allocation for SOPIX and USPIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer