UCPIX vs. UHPIX
UCPIX (ProFunds UltraShort Small Cap Fund) and UHPIX (ProFunds UltraShort China) are both Inverse Equities funds from ProFunds. Over the past 10 years, UCPIX returned -8.89%/yr vs -30.64%/yr for UHPIX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.78% expense ratio.
Performance
UCPIX vs. UHPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UCPIX achieves a -30.70% return, which is significantly lower than UHPIX's 25.12% return. Over the past 10 years, UCPIX has outperformed UHPIX with an annualized return of -8.89%, while UHPIX has yielded a comparatively lower -30.64% annualized return.
UCPIX
- 1D
- -2.74%
- 1M
- 3.70%
- 6M
- -23.15%
- YTD
- -30.70%
- 1Y
- -47.89%
- 3Y*
- 58.79%
- 5Y*
- 29.06%
- 10Y*
- -8.89%
- ALL TIME*
- -20.06%
UHPIX
- 1D
- -1.12%
- 1M
- -18.27%
- 6M
- 34.01%
- YTD
- 25.12%
- 1Y
- 2.46%
- 3Y*
- -19.47%
- 5Y*
- -30.70%
- 10Y*
- -30.64%
- ALL TIME*
- -30.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
UCPIX vs. UHPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCPIX ProFunds UltraShort Small Cap Fund | -30.70% | -25.76% | 707.30% | -26.54% | 28.08% | -36.02% | -60.58% | -38.99% | 17.86% | -27.19% |
UHPIX ProFunds UltraShort China | 25.12% | -49.82% | -29.87% | -26.13% | -63.62% | 94.89% | -64.76% | -43.34% | 39.47% | -57.67% |
Correlation
The correlation between UCPIX and UHPIX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2008 | 0.59 |
Over the past year, the correlation between UCPIX and UHPIX has dropped to 0.39 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
UCPIX vs. UHPIX — Risk / Return Rank
UCPIX
UHPIX
UCPIX vs. UHPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Small Cap Fund (UCPIX) and ProFunds UltraShort China (UHPIX). 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 | UHPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.06 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 0.13 | -1.01 |
| Martin ratioReturn relative to average drawdown | -1.35 | 0.25 | -1.60 |
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Drawdowns
UCPIX vs. UHPIX - Drawdown Comparison
The maximum UCPIX drawdown since its inception was -99.90%, roughly equal to the maximum UHPIX drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for UCPIX and UHPIX.
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Drawdown Indicators
| UCPIX | UHPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.90% | -99.98% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -50.68% | -41.26% | -9.42% |
Max Drawdown (3Y)Largest decline over 3 years | -68.91% | -80.64% | +11.73% |
Max Drawdown (5Y)Largest decline over 5 years | -68.91% | -96.64% | +27.73% |
Max Drawdown (10Y)Largest decline over 10 years | -92.98% | -98.49% | +5.51% |
Current DrawdownCurrent decline from peak | -99.46% | -99.96% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -84.07% | -93.45% | +9.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.06% | 21.10% | +11.96% |
Volatility
UCPIX vs. UHPIX - Volatility Comparison
The current volatility for ProFunds UltraShort Small Cap Fund (UCPIX) is 7.68%, while ProFunds UltraShort China (UHPIX) has a volatility of 14.43%. This indicates that UCPIX experiences smaller price fluctuations and is considered to be less risky than UHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCPIX | UHPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 14.43% | -6.75% |
Volatility (6M)Calculated over the trailing 6-month period | 28.39% | 38.13% | -9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.81% | 53.45% | -14.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 400.22% | 82.02% | +318.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 284.69% | 228.56% | +56.13% |
UCPIX vs. UHPIX - Expense Ratio Comparison
Both UCPIX and UHPIX have an expense ratio of 1.78%.
Dividends
UCPIX vs. UHPIX - Dividend Comparison
UCPIX's dividend yield for the trailing twelve months is around 6.66%, more than UHPIX's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UCPIX ProFunds UltraShort Small Cap Fund | 6.66% | 4.61% | 4.24% | 4.77% | 0.00% | 0.00% | 0.00% | 0.30% |
UHPIX ProFunds UltraShort China | 3.43% | 4.29% | 0.00% | 3.45% | 0.00% | 0.00% | 0.00% | 0.55% |
Frequently Asked Questions
UCPIX and UHPIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UHPIX has higher volatility (14.43%) compared to UCPIX (7.68%). In terms of maximum drawdown, UCPIX dropped -99.90% vs UHPIX's -99.98%.
UHPIX currently has the higher Sharpe Ratio (0.10 vs -1.16), 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.
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