UCPIX vs. RYAIX

Last updated Jun 25, 2026

UCPIX (ProFunds UltraShort Small Cap Fund) and RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) are both Inverse Equities funds. Over the past 10 years, UCPIX returned -10.66%/yr vs -19.36%/yr for RYAIX. A 0.76 correlation means they provide meaningful diversification when combined. UCPIX charges 1.78%/yr vs 1.55%/yr for RYAIX.

Performance

UCPIX vs. RYAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraShort Small Cap Fund (UCPIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCPIX achieves a -32.32% return, which is significantly lower than RYAIX's -14.19% return. Over the past 10 years, UCPIX has outperformed RYAIX with an annualized return of -10.66%, while RYAIX has yielded a comparatively lower -19.36% annualized return.

UCPIX

• 1D: 1.88%
• 1M: -7.62%
• YTD: -32.32%
• 6M: -28.57%
• 1Y: -49.33%
• 3Y*: 48.01%
• 5Y*: 30.45%
• 10Y*: -10.66%

RYAIX

• 1D: 3.33%
• 1M: 0.11%
• YTD: -14.19%
• 6M: -12.72%
• 1Y: -22.71%
• 3Y*: -17.65%
• 5Y*: -13.34%
• 10Y*: -19.36%

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

UCPIX vs. RYAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UCPIX ProFunds UltraShort Small Cap Fund	-32.32%	-25.76%	707.30%	-26.54%	28.08%	-36.02%	-60.58%	-38.99%	17.86%	-27.19%
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	-14.19%	-15.63%	-15.64%	-31.71%	35.92%	-24.88%	-40.98%	-27.65%	-2.63%	-24.47%

Correlation

The correlation between UCPIX and RYAIX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.76

The correlation between UCPIX and RYAIX shifts across timeframes, from 0.65 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UCPIX vs. RYAIX — Risk / Return Rank

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

UCPIX

UCPIX Risk / Return Rank: 0
UCPIX Sharpe Ratio Rank: 0
UCPIX Sortino Ratio Rank: 0
UCPIX Omega Ratio Rank: 0
UCPIX Calmar Ratio Rank: 0
UCPIX Martin Ratio Rank: 0

RYAIX

RYAIX Risk / Return Rank: 0
RYAIX Sharpe Ratio Rank: 0
RYAIX Sortino Ratio Rank: 0
RYAIX Omega Ratio Rank: 0
RYAIX Calmar Ratio Rank: 0
RYAIX Martin Ratio Rank: 0

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.

UCPIX vs. RYAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Small Cap Fund (UCPIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). 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.

	UCPIX	RYAIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.29	-1.32	+0.03
Sortino ratio: Return per unit of downside risk	-2.09	-1.96	-0.13
Omega ratio: Gain probability vs. loss probability	0.78	0.79	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.93	-0.06
Martin ratio: Return relative to average drawdown	-1.64	-2.01	+0.37

UCPIX vs. RYAIX - Sharpe Ratio Comparison

The current UCPIX Sharpe Ratio is -1.29, which is comparable to the RYAIX Sharpe Ratio of -1.32. The chart below compares the historical Sharpe Ratios of UCPIX and RYAIX, 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

UCPIX vs. RYAIX - Drawdown Comparison

The maximum UCPIX drawdown since its inception was -99.90%, roughly equal to the maximum RYAIX drawdown of -98.93%. Use the drawdown chart below to compare losses from any high point for UCPIX and RYAIX.

Drawdown Indicators

	UCPIX	RYAIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.90%	-98.93%	-0.97%
Max Drawdown (1Y) Largest decline over 1 year	-51.41%	-25.53%	-25.88%
Max Drawdown (3Y) Largest decline over 3 years	-68.50%	-50.13%	-18.37%
Max Drawdown (5Y) Largest decline over 5 years	-68.50%	-61.15%	-7.35%
Max Drawdown (10Y) Largest decline over 10 years	-94.03%	-89.04%	-4.99%
Current Drawdown Current decline from peak	-99.47%	-98.89%	-0.58%
Average Drawdown Average peak-to-trough decline	-83.99%	-73.33%	-10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.06%	12.98%	+18.08%

Volatility

UCPIX vs. RYAIX - Volatility Comparison

ProFunds UltraShort Small Cap Fund (UCPIX) has a higher volatility of 12.94% compared to Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) at 8.98%. This indicates that UCPIX's price experiences larger fluctuations and is considered to be riskier than RYAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCPIX	RYAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.94%	8.98%	+3.96%
Volatility (6M) Calculated over the trailing 6-month period	28.84%	14.65%	+14.19%
Volatility (1Y) Calculated over the trailing 1-year period	39.45%	18.11%	+21.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	400.24%	23.14%	+377.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	284.82%	22.78%	+262.04%

UCPIX vs. RYAIX - Expense Ratio Comparison

UCPIX has a 1.78% expense ratio, which is higher than RYAIX's 1.55% expense ratio.

Dividends

UCPIX vs. RYAIX - Dividend Comparison

UCPIX's dividend yield for the trailing twelve months is around 6.82%, more than RYAIX's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund	2.60%	2.23%	5.67%	4.81%	0.00%	0.00%	0.09%	0.72%
UCPIX ProFunds UltraShort Small Cap Fund	6.82%	4.61%	4.24%	4.77%	0.00%	0.00%	0.00%	0.30%

Frequently Asked Questions

Can I hold both UCPIX and RYAIX in my portfolio?

UCPIX and RYAIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCPIX or RYAIX?

UCPIX has higher volatility (12.94%) compared to RYAIX (8.98%). In terms of maximum drawdown, UCPIX dropped -99.90% vs RYAIX's -98.93%.

Which has better risk-adjusted returns?

UCPIX currently has the higher Sharpe Ratio (-1.29 vs -1.32), 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.