UAPIX vs. ENPIX

Last updated Aug 1, 2026

UAPIX (ProFunds UltraSmall Cap Fund) and ENPIX (ProFunds UltraSector Oil & Gas Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UAPIX returned 10.24%/yr vs 7.88%/yr for ENPIX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. UAPIX charges 1.60%/yr vs 1.51%/yr for ENPIX.

Performance

UAPIX vs. ENPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, UAPIX achieves a 34.82% return, which is significantly lower than ENPIX's 48.84% return. Over the past 10 years, UAPIX has outperformed ENPIX with an annualized return of 10.24%, while ENPIX has yielded a comparatively lower 7.88% annualized return.

UAPIX

• 1D: 2.73%
• 1M: -3.87%
• 6M: 22.23%
• YTD: 34.82%
• 1Y: 71.71%
• 3Y*: 18.45%
• 5Y*: 2.92%
• 10Y*: 10.24%
• ALL TIME*: 4.82%

ENPIX

• 1D: 0.83%
• 1M: 15.87%
• 6M: 22.86%
• YTD: 48.84%
• 1Y: 59.39%
• 3Y*: 14.50%
• 5Y*: 28.19%
• 10Y*: 7.88%
• ALL TIME*: 5.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ENPIX ProFunds UltraSector Oil & Gas Fund	$0.00	$0.00	$0.00
UAPIX ProFunds UltraSmall Cap Fund	$0.00	$0.00	$0.00

UAPIX vs. ENPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAPIX ProFunds UltraSmall Cap Fund	34.82%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%
ENPIX ProFunds UltraSector Oil & Gas Fund	48.84%	4.99%	2.30%	-7.46%	92.17%	82.32%	-53.71%	10.35%	-30.54%	-5.59%

Correlation

The correlation between UAPIX and ENPIX is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.03
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.38
Correlation (10Y) Provides a long-term view across more market conditions.	0.50
Correlation (All Time) Calculated using the full available price history since Jun 19, 2000	0.56

The correlation between UAPIX and ENPIX shifts across timeframes, from -0.03 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UAPIX vs. ENPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UAPIX

UAPIX Risk / Return Rank: 67
UAPIX Sharpe Ratio Rank: 64
UAPIX Sortino Ratio Rank: 61
UAPIX Omega Ratio Rank: 51
UAPIX Calmar Ratio Rank: 82
UAPIX Martin Ratio Rank: 76

ENPIX

ENPIX Risk / Return Rank: 63
ENPIX Sharpe Ratio Rank: 74
ENPIX Sortino Ratio Rank: 65
ENPIX Omega Ratio Rank: 62
ENPIX Calmar Ratio Rank: 73
ENPIX Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UAPIX vs. ENPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSmall Cap Fund (UAPIX) and ProFunds UltraSector Oil & Gas Fund (ENPIX). 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	ENPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.71	-0.12
Sortino ratio: Return per unit of downside risk	2.22	2.21	+0.01
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	2.77	2.35	+0.42
Martin ratio: Return relative to average drawdown	9.45	6.10	+3.35

UAPIX vs. ENPIX - Sharpe Ratio Comparison

The current UAPIX Sharpe Ratio is 1.60, which is comparable to the ENPIX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of UAPIX and ENPIX, 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. ENPIX - Drawdown Comparison

The maximum UAPIX drawdown since its inception was -88.51%, roughly equal to the maximum ENPIX drawdown of -90.12%. Use the drawdown chart below to compare losses from any high point for UAPIX and ENPIX.

Drawdown Indicators

	UAPIX	ENPIX	Difference
Max Drawdown Largest peak-to-trough decline	-88.51%	-90.12%	+1.61%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-23.01%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-32.27%	-17.59%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-36.48%	-25.34%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-84.54%	+12.36%
Current Drawdown Current decline from peak	-5.70%	-9.70%	+4.00%
Average Drawdown Average peak-to-trough decline	-35.85%	-36.77%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	8.88%	-2.33%

Volatility

UAPIX vs. ENPIX - Volatility Comparison

The current volatility for ProFunds UltraSmall Cap Fund (UAPIX) is 7.64%, while ProFunds UltraSector Oil & Gas Fund (ENPIX) has a volatility of 9.02%. This indicates that UAPIX experiences smaller price fluctuations and is considered to be less risky than ENPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAPIX	ENPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	9.02%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	28.21%	25.12%	+3.09%
Volatility (1Y) Calculated over the trailing 1-year period	38.79%	31.65%	+7.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.08%	38.45%	+6.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.46%	44.70%	+1.76%

UAPIX vs. ENPIX - Expense Ratio Comparison

UAPIX has a 1.60% expense ratio, which is higher than ENPIX's 1.51% expense ratio.

Dividends

UAPIX vs. ENPIX - Dividend Comparison

UAPIX's dividend yield for the trailing twelve months is around 0.35%, less than ENPIX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENPIX ProFunds UltraSector Oil & Gas Fund	1.86%	2.76%	3.19%	0.87%	2.76%	1.59%	1.76%	1.34%	1.76%	0.84%	0.57%	0.56%
UAPIX ProFunds UltraSmall Cap Fund	0.35%	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 ENPIX in my portfolio?

UAPIX and ENPIX have a correlation of -0.03, 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 ENPIX?

ENPIX has higher volatility (9.02%) compared to UAPIX (7.64%). In terms of maximum drawdown, UAPIX dropped -88.51% vs ENPIX's -90.12%.

Which has better risk-adjusted returns?

ENPIX currently has the higher Sharpe Ratio (1.71 vs 1.60), 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.