TEPIX vs. USNQX

Last updated Jun 24, 2026

TEPIX (ProFunds Technology UltraSector Fund) and USNQX (USAA Nasdaq 100 Index Fund) are both mutual funds - TEPIX is a Leveraged Equities fund managed by ProFunds, while USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 10 years, TEPIX returned 14.40%/yr vs 22.17%/yr for USNQX. With a 0.96 correlation, they move nearly in lockstep. TEPIX charges 1.48%/yr vs 0.42%/yr for USNQX.

Performance

TEPIX vs. USNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Technology UltraSector Fund (TEPIX) and USAA Nasdaq 100 Index Fund (USNQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEPIX achieves a 49.95% return, which is significantly higher than USNQX's 20.37% return. Over the past 10 years, TEPIX has underperformed USNQX with an annualized return of 14.40%, while USNQX has yielded a comparatively higher 22.17% annualized return.

TEPIX

• 1D: 0.63%
• 1M: 9.25%
• YTD: 49.95%
• 6M: 46.73%
• 1Y: 89.60%
• 3Y*: -12.74%
• 5Y*: -8.78%
• 10Y*: 14.40%

USNQX

• 1D: -0.19%
• 1M: 3.00%
• YTD: 20.37%
• 6M: 18.78%
• 1Y: 39.22%
• 3Y*: 27.25%
• 5Y*: 16.67%
• 10Y*: 22.17%

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

TEPIX vs. USNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TEPIX ProFunds Technology UltraSector Fund	49.95%	30.08%	-71.46%	91.81%	-51.01%	46.85%	64.53%	71.30%	-5.89%	49.17%
USNQX USAA Nasdaq 100 Index Fund	20.37%	20.52%	25.42%	54.46%	-32.71%	26.82%	48.31%	38.86%	-0.43%	32.30%

Correlation

The correlation between TEPIX and USNQX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.96

The correlation between TEPIX and USNQX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

TEPIX vs. USNQX — Risk / Return Rank

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

TEPIX

TEPIX Risk / Return Rank: 73
TEPIX Sharpe Ratio Rank: 88
TEPIX Sortino Ratio Rank: 63
TEPIX Omega Ratio Rank: 65
TEPIX Calmar Ratio Rank: 85
TEPIX Martin Ratio Rank: 62

USNQX

USNQX Risk / Return Rank: 69
USNQX Sharpe Ratio Rank: 74
USNQX Sortino Ratio Rank: 61
USNQX Omega Ratio Rank: 63
USNQX Calmar Ratio Rank: 79
USNQX Martin Ratio Rank: 70

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.

TEPIX vs. USNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Technology UltraSector Fund (TEPIX) and USAA Nasdaq 100 Index Fund (USNQX). 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.

	TEPIX	USNQX	Difference
Sharpe ratio: Return per unit of total volatility	2.68	2.31	+0.37
Sortino ratio: Return per unit of downside risk	3.03	3.00	+0.03
Omega ratio: Gain probability vs. loss probability	1.41	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	3.78	3.39	+0.39
Martin ratio: Return relative to average drawdown	11.56	12.56	-1.00

TEPIX vs. USNQX - Sharpe Ratio Comparison

The current TEPIX Sharpe Ratio is 2.68, which is comparable to the USNQX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of TEPIX and USNQX, 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

TEPIX vs. USNQX - Drawdown Comparison

The maximum TEPIX drawdown since its inception was -89.14%, which is greater than USNQX's maximum drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for TEPIX and USNQX.

Drawdown Indicators

	TEPIX	USNQX	Difference
Max Drawdown Largest peak-to-trough decline	-89.14%	-76.24%	-12.90%
Max Drawdown (1Y) Largest decline over 1 year	-24.64%	-12.07%	-12.57%
Max Drawdown (3Y) Largest decline over 3 years	-85.79%	-22.88%	-62.91%
Max Drawdown (5Y) Largest decline over 5 years	-85.79%	-36.95%	-48.84%
Max Drawdown (10Y) Largest decline over 10 years	-85.79%	-36.95%	-48.84%
Current Drawdown Current decline from peak	-58.34%	-0.97%	-57.37%
Average Drawdown Average peak-to-trough decline	-49.89%	-26.70%	-23.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.04%	3.25%	+4.79%

Volatility

TEPIX vs. USNQX - Volatility Comparison

ProFunds Technology UltraSector Fund (TEPIX) has a higher volatility of 17.67% compared to USAA Nasdaq 100 Index Fund (USNQX) at 8.38%. This indicates that TEPIX's price experiences larger fluctuations and is considered to be riskier than USNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEPIX	USNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.67%	8.38%	+9.29%
Volatility (6M) Calculated over the trailing 6-month period	29.05%	14.20%	+14.85%
Volatility (1Y) Calculated over the trailing 1-year period	34.88%	17.75%	+17.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.36%	23.14%	+29.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.58%	22.79%	+21.79%

TEPIX vs. USNQX - Expense Ratio Comparison

TEPIX has a 1.48% expense ratio, which is higher than USNQX's 0.42% expense ratio.

Dividends

TEPIX vs. USNQX - Dividend Comparison

TEPIX's dividend yield for the trailing twelve months is around 2.15%, less than USNQX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TEPIX ProFunds Technology UltraSector Fund	2.15%	3.22%	0.00%	0.37%	0.00%	0.90%	2.31%	0.00%	0.23%	0.00%	0.00%	0.00%
USNQX USAA Nasdaq 100 Index Fund	2.50%	3.01%	2.19%	2.60%	4.13%	4.48%	1.53%	0.88%	0.69%	1.97%	0.50%	2.73%

Frequently Asked Questions

Can I hold both TEPIX and USNQX in my portfolio?

With a correlation of 0.93, TEPIX and USNQX 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.

Which is riskier, TEPIX or USNQX?

TEPIX has higher volatility (17.67%) compared to USNQX (8.38%). In terms of maximum drawdown, TEPIX dropped -89.14% vs USNQX's -76.24%.

Which has better risk-adjusted returns?

TEPIX currently has the higher Sharpe Ratio (2.68 vs 2.31), 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.