UBPIX vs. UAPIX

Last updated Jun 4, 2026

UBPIX (ProFunds UltraLatin America Fund) and UAPIX (ProFunds UltraSmall Cap Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UBPIX returned 6.93%/yr vs 11.22%/yr for UAPIX. A 0.59 correlation means they provide meaningful diversification when combined. UBPIX charges 1.73%/yr vs 1.60%/yr for UAPIX.

Performance

UBPIX vs. UAPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, UBPIX achieves a 38.74% return, which is significantly higher than UAPIX's 35.07% return. Over the past 10 years, UBPIX has underperformed UAPIX with an annualized return of 6.93%, while UAPIX has yielded a comparatively higher 11.22% annualized return.

UBPIX

• 1D: 1.94%
• 1M: -6.81%
• YTD: 38.74%
• 6M: 35.97%
• 1Y: 101.88%
• 3Y*: 28.71%
• 5Y*: 13.01%
• 10Y*: 6.93%

UAPIX

• 1D: 1.81%
• 1M: 9.34%
• YTD: 35.07%
• 6M: 31.40%
• 1Y: 80.44%
• 3Y*: 25.30%
• 5Y*: 1.87%
• 10Y*: 11.22%

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

UBPIX vs. UAPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UBPIX ProFunds UltraLatin America Fund	38.74%	88.27%	-39.96%	53.61%	9.98%	-10.66%	-50.10%	13.18%	-22.18%	46.59%
UAPIX ProFunds UltraSmall Cap Fund	35.07%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%

Correlation

The correlation between UBPIX and UAPIX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 17, 2007	0.59

The correlation between UBPIX and UAPIX has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

Return for Risk

UBPIX vs. UAPIX — Risk / Return Rank

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

UBPIX

UBPIX Risk / Return Rank: 70
UBPIX Sharpe Ratio Rank: 80
UBPIX Sortino Ratio Rank: 49
UBPIX Omega Ratio Rank: 49
UBPIX Calmar Ratio Rank: 93
UBPIX Martin Ratio Rank: 81

UAPIX

UAPIX Risk / Return Rank: 59
UAPIX Sharpe Ratio Rank: 59
UAPIX Sortino Ratio Rank: 46
UAPIX Omega Ratio Rank: 39
UAPIX Calmar Ratio Rank: 83
UAPIX Martin Ratio Rank: 69

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. UAPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraLatin America Fund (UBPIX) and ProFunds UltraSmall Cap Fund (UAPIX). 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.

	UBPIX	UAPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.26	+0.36
Sortino ratio: Return per unit of downside risk	2.95	2.84	+0.10
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	5.16	3.88	+1.28
Martin ratio: Return relative to average drawdown	15.22	13.24	+1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UBPIX vs. UAPIX - Sharpe Ratio Comparison

The current UBPIX Sharpe Ratio is 2.62, which is comparable to the UAPIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of UBPIX and UAPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UBPIX	UAPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.26	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.04	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	0.24	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	0.10	-0.25

Drawdowns

UBPIX vs. UAPIX - Drawdown Comparison

The maximum UBPIX drawdown since its inception was -98.57%, which is greater than UAPIX's maximum drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for UBPIX and UAPIX.

Drawdown Indicators

	UBPIX	UAPIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.57%	-88.51%	-10.06%
Max Drawdown (1Y) Largest decline over 1 year	-20.34%	-22.32%	+1.98%
Max Drawdown (3Y) Largest decline over 3 years	-44.74%	-49.86%	+5.12%
Max Drawdown (5Y) Largest decline over 5 years	-49.18%	-61.82%	+12.64%
Max Drawdown (10Y) Largest decline over 10 years	-89.02%	-72.18%	-16.84%
Current Drawdown Current decline from peak	-89.79%	-3.10%	-86.69%
Average Drawdown Average peak-to-trough decline	-84.70%	-36.05%	-48.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.88%	6.53%	+0.35%

Volatility

UBPIX vs. UAPIX - Volatility Comparison

ProFunds UltraLatin America Fund (UBPIX) and ProFunds UltraSmall Cap Fund (UAPIX) have volatilities of 11.36% and 11.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBPIX	UAPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.36%	11.16%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	33.50%	27.10%	+6.40%
Volatility (1Y) Calculated over the trailing 1-year period	40.04%	38.25%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.98%	45.14%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.05%	46.52%	+9.53%

UBPIX vs. UAPIX - Expense Ratio Comparison

UBPIX has a 1.73% expense ratio, which is higher than UAPIX's 1.60% expense ratio.

Dividends

UBPIX vs. UAPIX - Dividend Comparison

UBPIX's dividend yield for the trailing twelve months is around 3.63%, more than UAPIX's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UBPIX ProFunds UltraLatin America Fund	3.63%	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 UAPIX in my portfolio?

UBPIX and UAPIX have a correlation of 0.51, 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 UAPIX?

UBPIX has higher volatility (11.36%) compared to UAPIX (11.16%). In terms of maximum drawdown, UBPIX dropped -98.57% vs UAPIX's -88.51%.

Which has better risk-adjusted returns?

UBPIX currently has the higher Sharpe Ratio (2.62 vs 2.26), 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.