UGPIX vs. CNPIX

Last updated Jun 25, 2026

UGPIX (ProFunds UltraChina) and CNPIX (ProFunds Consumer Goods UltraSector Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UGPIX returned 7.16%/yr vs 14.27%/yr for CNPIX. At a 0.32 correlation, their price movements are largely independent. UGPIX charges 1.74%/yr vs 1.78%/yr for CNPIX.

Performance

UGPIX vs. CNPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraChina (UGPIX) and ProFunds Consumer Goods UltraSector Fund (CNPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UGPIX achieves a -44.26% return, which is significantly lower than CNPIX's 10.88% return. Over the past 10 years, UGPIX has underperformed CNPIX with an annualized return of 7.16%, while CNPIX has yielded a comparatively higher 14.27% annualized return.

UGPIX

• 1D: -3.36%
• 1M: -22.93%
• YTD: -44.26%
• 6M: -45.24%
• 1Y: -38.94%
• 3Y*: -12.92%
• 5Y*: -2.71%
• 10Y*: 7.16%

CNPIX

• 1D: 2.77%
• 1M: -1.40%
• YTD: 10.88%
• 6M: 9.85%
• 1Y: 2.95%
• 3Y*: 4.96%
• 5Y*: -1.20%
• 10Y*: 14.27%

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

UGPIX vs. CNPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UGPIX ProFunds UltraChina	-44.26%	36.28%	-21.79%	785.09%	-53.03%	-73.86%	76.47%	40.07%	-46.51%	105.73%
CNPIX ProFunds Consumer Goods UltraSector Fund	10.88%	-3.43%	12.77%	2.93%	-36.57%	26.52%	188.12%	40.51%	-22.66%	20.89%

Correlation

The correlation between UGPIX and CNPIX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.32

The correlation between UGPIX and CNPIX shifts across timeframes, from -0.02 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

UGPIX vs. CNPIX — Risk / Return Rank

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

UGPIX

UGPIX Risk / Return Rank: 1
UGPIX Sharpe Ratio Rank: 1
UGPIX Sortino Ratio Rank: 1
UGPIX Omega Ratio Rank: 1
UGPIX Calmar Ratio Rank: 1
UGPIX Martin Ratio Rank: 1

CNPIX

CNPIX Risk / Return Rank: 4
CNPIX Sharpe Ratio Rank: 4
CNPIX Sortino Ratio Rank: 4
CNPIX Omega Ratio Rank: 4
CNPIX Calmar Ratio Rank: 4
CNPIX Martin Ratio Rank: 4

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.

UGPIX vs. CNPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraChina (UGPIX) and ProFunds Consumer Goods UltraSector Fund (CNPIX). 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.

	UGPIX	CNPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	0.14	-0.81
Sortino ratio: Return per unit of downside risk	-0.81	0.34	-1.15
Omega ratio: Gain probability vs. loss probability	0.91	1.04	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.56	0.19	-0.75
Martin ratio: Return relative to average drawdown	-1.09	0.34	-1.43

UGPIX vs. CNPIX - Sharpe Ratio Comparison

The current UGPIX Sharpe Ratio is -0.67, which is lower than the CNPIX Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of UGPIX and CNPIX, 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

UGPIX vs. CNPIX - Drawdown Comparison

The maximum UGPIX drawdown since its inception was -98.56%, which is greater than CNPIX's maximum drawdown of -60.04%. Use the drawdown chart below to compare losses from any high point for UGPIX and CNPIX.

Drawdown Indicators

	UGPIX	CNPIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.56%	-60.04%	-38.52%
Max Drawdown (1Y) Largest decline over 1 year	-62.18%	-14.47%	-47.71%
Max Drawdown (3Y) Largest decline over 3 years	-62.18%	-19.04%	-43.14%
Max Drawdown (5Y) Largest decline over 5 years	-92.61%	-45.40%	-47.21%
Max Drawdown (10Y) Largest decline over 10 years	-96.22%	-46.56%	-49.66%
Current Drawdown Current decline from peak	-84.15%	-25.19%	-58.96%
Average Drawdown Average peak-to-trough decline	-79.75%	-12.97%	-66.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.71%	8.26%	+23.45%

Volatility

UGPIX vs. CNPIX - Volatility Comparison

ProFunds UltraChina (UGPIX) has a higher volatility of 12.15% compared to ProFunds Consumer Goods UltraSector Fund (CNPIX) at 7.69%. This indicates that UGPIX's price experiences larger fluctuations and is considered to be riskier than CNPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGPIX	CNPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.15%	7.69%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	37.16%	15.73%	+21.43%
Volatility (1Y) Calculated over the trailing 1-year period	52.21%	19.56%	+32.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	388.15%	23.83%	+364.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	276.55%	40.44%	+236.11%

UGPIX vs. CNPIX - Expense Ratio Comparison

UGPIX has a 1.74% expense ratio, which is lower than CNPIX's 1.78% expense ratio.

Dividends

UGPIX vs. CNPIX - Dividend Comparison

UGPIX's dividend yield for the trailing twelve months is around 10.85%, more than CNPIX's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNPIX ProFunds Consumer Goods UltraSector Fund	0.54%	0.60%	1.55%	1.59%	0.00%	1.45%	0.00%	2.77%	1.64%	0.07%	0.00%	0.50%
UGPIX ProFunds UltraChina	10.85%	6.05%	2.91%	3.25%	0.00%	0.00%	0.00%	0.08%	0.00%	0.77%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UGPIX and CNPIX in my portfolio?

UGPIX and CNPIX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UGPIX or CNPIX?

UGPIX has higher volatility (12.15%) compared to CNPIX (7.69%). In terms of maximum drawdown, UGPIX dropped -98.56% vs CNPIX's -60.04%.

Which has better risk-adjusted returns?

CNPIX currently has the higher Sharpe Ratio (0.14 vs -0.67), 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.