UAPIX vs. CNPIX

Last updated Jun 23, 2026

UAPIX (ProFunds UltraSmall Cap Fund) and CNPIX (ProFunds Consumer Goods UltraSector Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UAPIX returned 11.66%/yr vs 13.64%/yr for CNPIX. A 0.68 correlation means they provide meaningful diversification when combined. UAPIX charges 1.60%/yr vs 1.78%/yr for CNPIX.

Performance

UAPIX vs. CNPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSmall Cap Fund (UAPIX) and ProFunds Consumer Goods UltraSector Fund (CNPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAPIX achieves a 38.89% return, which is significantly higher than CNPIX's 9.01% return. Over the past 10 years, UAPIX has underperformed CNPIX with an annualized return of 11.66%, while CNPIX has yielded a comparatively higher 13.64% annualized return.

UAPIX

• 1D: 4.14%
• 1M: 7.27%
• YTD: 38.89%
• 6M: 30.58%
• 1Y: 84.98%
• 3Y*: 24.58%
• 5Y*: 3.21%
• 10Y*: 11.66%

CNPIX

• 1D: -0.74%
• 1M: -3.07%
• YTD: 9.01%
• 6M: 8.42%
• 1Y: 2.76%
• 3Y*: 4.09%
• 5Y*: -0.71%
• 10Y*: 13.64%

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

UAPIX vs. CNPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAPIX ProFunds UltraSmall Cap Fund	38.89%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%
CNPIX ProFunds Consumer Goods UltraSector Fund	9.01%	-3.43%	12.77%	2.93%	-36.57%	26.52%	188.12%	40.51%	-22.66%	20.89%

Correlation

The correlation between UAPIX and CNPIX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.68

Over the past year, the correlation between UAPIX and CNPIX has dropped to 0.08 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

UAPIX vs. CNPIX — Risk / Return Rank

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

UAPIX

UAPIX Risk / Return Rank: 62
UAPIX Sharpe Ratio Rank: 64
UAPIX Sortino Ratio Rank: 49
UAPIX Omega Ratio Rank: 42
UAPIX Calmar Ratio Rank: 85
UAPIX Martin Ratio Rank: 72

CNPIX

CNPIX Risk / Return Rank: 4
CNPIX Sharpe Ratio Rank: 4
CNPIX Sortino Ratio Rank: 4
CNPIX Omega Ratio Rank: 4
CNPIX Calmar Ratio Rank: 4
CNPIX Martin Ratio Rank: 4

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.

UAPIX vs. CNPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSmall Cap Fund (UAPIX) and ProFunds Consumer Goods UltraSector Fund (CNPIX). 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.

	UAPIX	CNPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	0.20	+1.95
Sortino ratio: Return per unit of downside risk	2.72	0.42	+2.29
Omega ratio: Gain probability vs. loss probability	1.32	1.05	+0.27
Calmar ratio: Return relative to maximum drawdown	3.80	0.27	+3.53
Martin ratio: Return relative to average drawdown	12.90	0.47	+12.43

UAPIX vs. CNPIX - Sharpe Ratio Comparison

The current UAPIX Sharpe Ratio is 2.15, which is higher than the CNPIX Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of UAPIX and CNPIX, 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

UAPIX vs. CNPIX - Drawdown Comparison

The maximum UAPIX drawdown since its inception was -88.51%, which is greater than CNPIX's maximum drawdown of -60.04%. Use the drawdown chart below to compare losses from any high point for UAPIX and CNPIX.

Drawdown Indicators

	UAPIX	CNPIX	Difference
Max Drawdown Largest peak-to-trough decline	-88.51%	-60.04%	-28.47%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-14.47%	-7.85%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-19.04%	-30.82%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-45.40%	-16.42%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-46.56%	-25.62%
Current Drawdown Current decline from peak	-0.36%	-26.46%	+26.10%
Average Drawdown Average peak-to-trough decline	-35.99%	-12.97%	-23.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	8.20%	-1.65%

Volatility

UAPIX vs. CNPIX - Volatility Comparison

ProFunds UltraSmall Cap Fund (UAPIX) has a higher volatility of 13.52% compared to ProFunds Consumer Goods UltraSector Fund (CNPIX) at 7.22%. This indicates that UAPIX's price experiences larger fluctuations and is considered to be riskier than CNPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAPIX	CNPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.52%	7.22%	+6.30%
Volatility (6M) Calculated over the trailing 6-month period	28.65%	15.51%	+13.14%
Volatility (1Y) Calculated over the trailing 1-year period	39.37%	19.37%	+20.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.33%	23.80%	+21.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.62%	40.44%	+6.18%

UAPIX vs. CNPIX - Expense Ratio Comparison

UAPIX has a 1.60% expense ratio, which is lower than CNPIX's 1.78% expense ratio.

Dividends

UAPIX vs. CNPIX - Dividend Comparison

UAPIX's dividend yield for the trailing twelve months is around 0.34%, less than CNPIX's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNPIX ProFunds Consumer Goods UltraSector Fund	0.55%	0.60%	1.55%	1.59%	0.00%	1.45%	0.00%	2.77%	1.64%	0.07%	0.00%	0.50%
UAPIX ProFunds UltraSmall Cap Fund	0.34%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UAPIX and CNPIX in my portfolio?

UAPIX and CNPIX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UAPIX or CNPIX?

UAPIX has higher volatility (13.52%) compared to CNPIX (7.22%). In terms of maximum drawdown, UAPIX dropped -88.51% vs CNPIX's -60.04%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (2.15 vs 0.20), 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.