UBPIX vs. SMPIX

Last updated Jun 23, 2026

UBPIX (ProFunds UltraLatin America Fund) and SMPIX (ProFunds Semiconductor UltraSector Fund Investor Class) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UBPIX returned 5.82%/yr vs 20.05%/yr for SMPIX. At a 0.47 correlation, their price movements are largely independent. UBPIX charges 1.73%/yr vs 1.52%/yr for SMPIX.

Performance

UBPIX vs. SMPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraLatin America Fund (UBPIX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBPIX achieves a 30.51% return, which is significantly lower than SMPIX's 78.25% return. Over the past 10 years, UBPIX has underperformed SMPIX with an annualized return of 5.82%, while SMPIX has yielded a comparatively higher 20.05% annualized return.

UBPIX

• 1D: -1.22%
• 1M: -5.70%
• YTD: 30.51%
• 6M: 34.41%
• 1Y: 85.26%
• 3Y*: 19.44%
• 5Y*: 12.35%
• 10Y*: 5.82%

SMPIX

• 1D: 7.49%
• 1M: 11.82%
• YTD: 78.25%
• 6M: 80.13%
• 1Y: 170.24%
• 3Y*: -8.37%
• 5Y*: 2.23%
• 10Y*: 20.05%

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

UBPIX vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UBPIX ProFunds UltraLatin America Fund	30.51%	88.27%	-39.96%	53.61%	9.98%	-10.66%	-50.10%	13.18%	-22.18%	46.59%
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	78.25%	56.35%	-77.32%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between UBPIX and SMPIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Oct 16, 2007	0.47

The correlation between UBPIX and SMPIX shifts across timeframes, from 0.32 (3 years) to 0.47 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UBPIX vs. SMPIX — Risk / Return Rank

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

UBPIX

UBPIX Risk / Return Rank: 52
UBPIX Sharpe Ratio Rank: 52
UBPIX Sortino Ratio Rank: 40
UBPIX Omega Ratio Rank: 39
UBPIX Calmar Ratio Rank: 78
UBPIX Martin Ratio Rank: 52

SMPIX

SMPIX Risk / Return Rank: 88
SMPIX Sharpe Ratio Rank: 97
SMPIX Sortino Ratio Rank: 75
SMPIX Omega Ratio Rank: 75
SMPIX Calmar Ratio Rank: 98
SMPIX Martin Ratio Rank: 96

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.

UBPIX vs. SMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraLatin America Fund (UBPIX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). 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.

	UBPIX	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	3.30	-1.34
Sortino ratio: Return per unit of downside risk	2.43	3.30	-0.87
Omega ratio: Gain probability vs. loss probability	1.31	1.45	-0.14
Calmar ratio: Return relative to maximum drawdown	3.36	7.39	-4.02
Martin ratio: Return relative to average drawdown	10.01	21.33	-11.32

UBPIX vs. SMPIX - Sharpe Ratio Comparison

The current UBPIX Sharpe Ratio is 1.96, which is lower than the SMPIX Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of UBPIX and SMPIX, 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

UBPIX vs. SMPIX - Drawdown Comparison

The maximum UBPIX drawdown since its inception was -98.57%, roughly equal to the maximum SMPIX drawdown of -94.52%. Use the drawdown chart below to compare losses from any high point for UBPIX and SMPIX.

Drawdown Indicators

	UBPIX	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.57%	-94.52%	-4.05%
Max Drawdown (1Y) Largest decline over 1 year	-24.09%	-22.72%	-1.37%
Max Drawdown (3Y) Largest decline over 3 years	-44.74%	-94.52%	+49.78%
Max Drawdown (5Y) Largest decline over 5 years	-49.18%	-94.52%	+45.34%
Max Drawdown (10Y) Largest decline over 10 years	-89.02%	-94.52%	+5.50%
Current Drawdown Current decline from peak	-90.39%	-73.09%	-17.30%
Average Drawdown Average peak-to-trough decline	-84.69%	-57.64%	-27.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.09%	7.86%	+0.23%

Volatility

UBPIX vs. SMPIX - Volatility Comparison

The current volatility for ProFunds UltraLatin America Fund (UBPIX) is 12.11%, while ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) has a volatility of 23.93%. This indicates that UBPIX experiences smaller price fluctuations and is considered to be less risky than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBPIX	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	23.93%	-11.82%
Volatility (6M) Calculated over the trailing 6-month period	33.59%	40.58%	-6.99%
Volatility (1Y) Calculated over the trailing 1-year period	41.32%	50.92%	-9.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.17%	71.44%	-25.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.97%	59.62%	-3.65%

UBPIX vs. SMPIX - Expense Ratio Comparison

UBPIX has a 1.73% expense ratio, which is higher than SMPIX's 1.52% expense ratio.

Dividends

UBPIX vs. SMPIX - Dividend Comparison

UBPIX's dividend yield for the trailing twelve months is around 3.86%, less than SMPIX's 7.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	7.30%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%
UBPIX ProFunds UltraLatin America Fund	3.86%	5.03%	6.94%	4.32%	10.96%	6.00%	0.53%	1.28%	1.58%	0.22%	0.32%	0.43%

Frequently Asked Questions

Can I hold both UBPIX and SMPIX in my portfolio?

UBPIX and SMPIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UBPIX or SMPIX?

SMPIX has higher volatility (23.93%) compared to UBPIX (12.11%). In terms of maximum drawdown, UBPIX dropped -98.57% vs SMPIX's -94.52%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (3.30 vs 1.96), 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.