UGPIX vs. SOPIX

Last updated Jul 17, 2026

UGPIX (ProFunds UltraChina) and SOPIX (ProFunds Short NASDAQ-100 Fund) are both mutual funds - UGPIX is a Leveraged Equities fund managed by ProFunds, while SOPIX is a Inverse Equities fund managed by ProFunds. Over the past 10 years, UGPIX returned 7.51%/yr vs -20.28%/yr for SOPIX. At a correlation of -0.33, they often move in opposite directions. UGPIX charges 1.74%/yr vs 1.78%/yr for SOPIX.

Performance

UGPIX vs. SOPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraChina (UGPIX) and ProFunds Short NASDAQ-100 Fund (SOPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UGPIX achieves a -34.64% return, which is significantly lower than SOPIX's -14.03% return. Over the past 10 years, UGPIX has outperformed SOPIX with an annualized return of 7.51%, while SOPIX has yielded a comparatively lower -20.28% annualized return.

UGPIX

• 1D: 5.36%
• 1M: 6.79%
• 6M: -40.07%
• YTD: -34.64%
• 1Y: -29.69%
• 3Y*: -14.14%
• 5Y*: 3.93%
• 10Y*: 7.51%

SOPIX

• 1D: 0.31%
• 1M: 1.56%
• 6M: -13.17%
• YTD: -14.03%
• 1Y: -20.64%
• 3Y*: -19.47%
• 5Y*: -15.00%
• 10Y*: -20.28%

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

UGPIX vs. SOPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UGPIX ProFunds UltraChina	-34.64%	36.28%	-21.79%	785.09%	-53.03%	-73.86%	76.47%	40.07%	-46.51%	105.73%
SOPIX ProFunds Short NASDAQ-100 Fund	-14.03%	-15.80%	-23.82%	-31.85%	34.73%	-25.69%	-42.92%	-28.29%	-3.07%	-25.24%

Correlation

The correlation between UGPIX and SOPIX is -0.47, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.47
Correlation (3Y) Calculated over the trailing 3-year period	-0.41
Correlation (5Y) Calculated over the trailing 5-year period	-0.45
Correlation (10Y) Calculated over the trailing 10-year period	-0.54
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003	-0.33

The correlation between UGPIX and SOPIX shifts across timeframes, from -0.54 (10 years) to -0.33 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UGPIX vs. SOPIX — 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

SOPIX

SOPIX Risk / Return Rank: 0
SOPIX Sharpe Ratio Rank: 0
SOPIX Sortino Ratio Rank: 0
SOPIX Omega Ratio Rank: 0
SOPIX Calmar Ratio Rank: 0
SOPIX 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.

UGPIX vs. SOPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraChina (UGPIX) and ProFunds Short NASDAQ-100 Fund (SOPIX). 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	SOPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-1.12	+0.53
Sortino ratio: Return per unit of downside risk	-0.64	-1.63	+0.99
Omega ratio: Gain probability vs. loss probability	0.93	0.82	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.47	-0.84	+0.36
Martin ratio: Return relative to average drawdown	-0.89	-1.71	+0.82

UGPIX vs. SOPIX - Sharpe Ratio Comparison

The current UGPIX Sharpe Ratio is -0.59, which is higher than the SOPIX Sharpe Ratio of -1.12. The chart below compares the historical Sharpe Ratios of UGPIX and SOPIX, 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. SOPIX - Drawdown Comparison

The maximum UGPIX drawdown since its inception was -98.56%, roughly equal to the maximum SOPIX drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for UGPIX and SOPIX.

Drawdown Indicators

	UGPIX	SOPIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.56%	-99.07%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-65.51%	-24.87%	-40.64%
Max Drawdown (3Y) Largest decline over 3 years	-65.51%	-54.87%	-10.64%
Max Drawdown (5Y) Largest decline over 5 years	-90.75%	-65.00%	-25.75%
Max Drawdown (10Y) Largest decline over 10 years	-96.22%	-89.96%	-6.26%
Current Drawdown Current decline from peak	-81.41%	-99.04%	+17.63%
Average Drawdown Average peak-to-trough decline	-79.76%	-76.23%	-3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.97%	12.15%	+22.82%

Volatility

UGPIX vs. SOPIX - Volatility Comparison

ProFunds UltraChina (UGPIX) has a higher volatility of 16.33% compared to ProFunds Short NASDAQ-100 Fund (SOPIX) at 7.80%. This indicates that UGPIX's price experiences larger fluctuations and is considered to be riskier than SOPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGPIX	SOPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.33%	7.80%	+8.53%
Volatility (6M) Calculated over the trailing 6-month period	37.35%	15.22%	+22.13%
Volatility (1Y) Calculated over the trailing 1-year period	53.41%	18.50%	+34.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	388.14%	23.76%	+364.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	276.51%	22.63%	+253.88%

UGPIX vs. SOPIX - Expense Ratio Comparison

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

Dividends

UGPIX vs. SOPIX - Dividend Comparison

UGPIX's dividend yield for the trailing twelve months is around 9.25%, more than SOPIX's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOPIX ProFunds Short NASDAQ-100 Fund	2.49%	2.14%	0.00%	6.71%	0.00%	0.00%	0.00%	0.29%	0.00%	0.00%
UGPIX ProFunds UltraChina	9.25%	6.05%	2.91%	3.25%	0.00%	0.00%	0.00%	0.08%	0.00%	0.77%

Frequently Asked Questions

Can I hold both UGPIX and SOPIX in my portfolio?

UGPIX and SOPIX have a correlation of -0.47, 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 SOPIX?

UGPIX has higher volatility (16.33%) compared to SOPIX (7.80%). In terms of maximum drawdown, UGPIX dropped -98.56% vs SOPIX's -99.07%.

Which has better risk-adjusted returns?

UGPIX currently has the higher Sharpe Ratio (-0.59 vs -1.12), 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.