UCPIX vs. ULPIX
UCPIX (ProFunds UltraShort Small Cap Fund) and ULPIX (ProFunds UltraBull Fund) are both mutual funds - UCPIX is a Inverse Equities fund managed by ProFunds, while ULPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, UCPIX returned -8.89%/yr vs 21.47%/yr for ULPIX. Their -0.86 correlation means they have often moved in opposite directions in the past. UCPIX charges 1.78%/yr vs 1.46%/yr for ULPIX.
Performance
UCPIX vs. ULPIX - 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 ULPIX's 14.19% return. Over the past 10 years, UCPIX has underperformed ULPIX with an annualized return of -8.89%, while ULPIX has yielded a comparatively higher 21.47% 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%
ULPIX
- 1D
- 3.31%
- 1M
- -1.63%
- 6M
- 11.59%
- YTD
- 14.19%
- 1Y
- 34.71%
- 3Y*
- 27.77%
- 5Y*
- 15.45%
- 10Y*
- 21.47%
- ALL TIME*
- 9.31%
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. ULPIX - 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% |
ULPIX ProFunds UltraBull Fund | 14.19% | 25.47% | 38.03% | 45.59% | -39.16% | 59.28% | 19.12% | 62.17% | -15.02% | 42.77% |
Correlation
The correlation between UCPIX and ULPIX is -0.80, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.80 |
Correlation (3Y) Balances recent behavior with more history. | -0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | -0.86 |
The correlation between UCPIX and ULPIX has been stable across timeframes, ranging from -0.86 to -0.78 - a consistent structural relationship.
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Return for Risk
UCPIX vs. ULPIX — Risk / Return Rank
UCPIX
ULPIX
UCPIX vs. ULPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Small Cap Fund (UCPIX) and ProFunds UltraBull Fund (ULPIX). 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 | ULPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.38 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.21 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 1.61 | -2.50 |
| Martin ratioReturn relative to average drawdown | -1.35 | 6.47 | -7.82 |
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Drawdowns
UCPIX vs. ULPIX - Drawdown Comparison
The maximum UCPIX drawdown since its inception was -99.90%, which is greater than ULPIX's maximum drawdown of -89.68%. Use the drawdown chart below to compare losses from any high point for UCPIX and ULPIX.
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Drawdown Indicators
| UCPIX | ULPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.90% | -89.68% | -10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -50.68% | -18.30% | -32.38% |
Max Drawdown (3Y)Largest decline over 3 years | -68.91% | -36.59% | -32.32% |
Max Drawdown (5Y)Largest decline over 5 years | -68.91% | -46.92% | -21.99% |
Max Drawdown (10Y)Largest decline over 10 years | -92.98% | -59.41% | -33.57% |
Current DrawdownCurrent decline from peak | -99.46% | -5.45% | -94.01% |
Average DrawdownAverage peak-to-trough decline | -84.07% | -33.67% | -50.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.06% | 4.56% | +28.50% |
Volatility
UCPIX vs. ULPIX - Volatility Comparison
ProFunds UltraShort Small Cap Fund (UCPIX) has a higher volatility of 7.68% compared to ProFunds UltraBull Fund (ULPIX) at 6.90%. This indicates that UCPIX's price experiences larger fluctuations and is considered to be riskier than ULPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCPIX | ULPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 6.90% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 28.39% | 20.16% | +8.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.81% | 25.68% | +13.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 400.22% | 34.14% | +366.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 284.69% | 35.45% | +249.24% |
UCPIX vs. ULPIX - Expense Ratio Comparison
UCPIX has a 1.78% expense ratio, which is higher than ULPIX's 1.46% expense ratio.
Dividends
UCPIX vs. ULPIX - Dividend Comparison
UCPIX's dividend yield for the trailing twelve months is around 6.66%, less than ULPIX's 7.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
UCPIX ProFunds UltraShort Small Cap Fund | 6.66% | 4.61% | 4.24% | 4.77% | 0.00% | 0.00% | 0.00% | 0.30% | 0.00% |
ULPIX ProFunds UltraBull Fund | 7.98% | 9.11% | 0.00% | 0.02% | 10.36% | 5.62% | 12.74% | 0.42% | 0.58% |
Frequently Asked Questions
UCPIX and ULPIX have a correlation of -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCPIX has higher volatility (7.68%) compared to ULPIX (6.90%). In terms of maximum drawdown, UCPIX dropped -99.90% vs ULPIX's -89.68%.
ULPIX currently has the higher Sharpe Ratio (1.15 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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