UGPIX vs. VEIPX

Last updated Jun 23, 2026

UGPIX (ProFunds UltraChina) and VEIPX (Vanguard Equity Income Fund Investor Shares) are both mutual funds - UGPIX is a Leveraged Equities fund managed by ProFunds, while VEIPX is a Large Cap Value Equities fund actively managed by Vanguard. Over the past 10 years, UGPIX returned 7.32%/yr vs 11.72%/yr for VEIPX. At a 0.19 correlation, their price movements are largely independent. UGPIX charges 1.74%/yr vs 0.28%/yr for VEIPX.

Performance

UGPIX vs. VEIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraChina (UGPIX) and Vanguard Equity Income Fund Investor Shares (VEIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UGPIX achieves a -41.53% return, which is significantly lower than VEIPX's 8.31% return. Over the past 10 years, UGPIX has underperformed VEIPX with an annualized return of 7.32%, while VEIPX has yielded a comparatively higher 11.72% annualized return.

UGPIX

• 1D: -1.80%
• 1M: -19.16%
• YTD: -41.53%
• 6M: -43.08%
• 1Y: -29.57%
• 3Y*: -17.09%
• 5Y*: -0.58%
• 10Y*: 7.32%

VEIPX

• 1D: 0.14%
• 1M: -0.23%
• YTD: 8.31%
• 6M: 7.87%
• 1Y: 21.38%
• 3Y*: 15.95%
• 5Y*: 11.72%
• 10Y*: 11.72%

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

UGPIX vs. VEIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UGPIX ProFunds UltraChina	-41.53%	36.28%	-21.79%	785.09%	-53.03%	-73.86%	76.47%	40.07%	-46.51%	105.73%
VEIPX Vanguard Equity Income Fund Investor Shares	8.31%	17.14%	14.80%	7.66%	-0.16%	25.41%	2.97%	25.21%	-5.75%	17.60%

Correlation

The correlation between UGPIX and VEIPX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Aug 7, 2000	0.19

The correlation between UGPIX and VEIPX shifts across timeframes, from 0.19 (all time) to 0.40 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

UGPIX vs. VEIPX — 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

VEIPX

VEIPX Risk / Return Rank: 60
VEIPX Sharpe Ratio Rank: 59
VEIPX Sortino Ratio Rank: 60
VEIPX Omega Ratio Rank: 56
VEIPX Calmar Ratio Rank: 67
VEIPX Martin Ratio Rank: 60

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. VEIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraChina (UGPIX) and Vanguard Equity Income Fund Investor Shares (VEIPX). 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	VEIPX	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	2.08	-2.68
Sortino ratio: Return per unit of downside risk	-0.67	2.96	-3.62
Omega ratio: Gain probability vs. loss probability	0.93	1.38	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.52	3.02	-3.54
Martin ratio: Return relative to average drawdown	-1.00	11.23	-12.23

UGPIX vs. VEIPX - Sharpe Ratio Comparison

The current UGPIX Sharpe Ratio is -0.60, which is lower than the VEIPX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of UGPIX and VEIPX, 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. VEIPX - Drawdown Comparison

The maximum UGPIX drawdown since its inception was -98.56%, which is greater than VEIPX's maximum drawdown of -54.12%. Use the drawdown chart below to compare losses from any high point for UGPIX and VEIPX.

Drawdown Indicators

	UGPIX	VEIPX	Difference
Max Drawdown Largest peak-to-trough decline	-98.56%	-54.12%	-44.44%
Max Drawdown (1Y) Largest decline over 1 year	-60.33%	-7.15%	-53.18%
Max Drawdown (3Y) Largest decline over 3 years	-60.33%	-13.39%	-46.94%
Max Drawdown (5Y) Largest decline over 5 years	-92.61%	-15.16%	-77.45%
Max Drawdown (10Y) Largest decline over 10 years	-96.22%	-35.26%	-60.96%
Current Drawdown Current decline from peak	-83.37%	-1.26%	-82.11%
Average Drawdown Average peak-to-trough decline	-79.75%	-5.50%	-74.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.23%	1.92%	+29.31%

Volatility

UGPIX vs. VEIPX - Volatility Comparison

ProFunds UltraChina (UGPIX) has a higher volatility of 12.11% compared to Vanguard Equity Income Fund Investor Shares (VEIPX) at 2.84%. This indicates that UGPIX's price experiences larger fluctuations and is considered to be riskier than VEIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGPIX	VEIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	2.84%	+9.27%
Volatility (6M) Calculated over the trailing 6-month period	37.13%	7.59%	+29.54%
Volatility (1Y) Calculated over the trailing 1-year period	52.19%	10.37%	+41.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	387.99%	13.91%	+374.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	276.40%	16.31%	+260.09%

UGPIX vs. VEIPX - Expense Ratio Comparison

UGPIX has a 1.74% expense ratio, which is higher than VEIPX's 0.28% expense ratio.

Dividends

UGPIX vs. VEIPX - Dividend Comparison

UGPIX's dividend yield for the trailing twelve months is around 10.34%, more than VEIPX's 10.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UGPIX ProFunds UltraChina	10.34%	6.05%	2.91%	3.25%	0.00%	0.00%	0.00%	0.08%	0.00%	0.77%	0.00%	0.00%
VEIPX Vanguard Equity Income Fund Investor Shares	10.15%	10.94%	9.74%	7.87%	8.69%	7.62%	2.77%	4.36%	10.87%	2.98%	3.78%	6.39%

Frequently Asked Questions

Can I hold both UGPIX and VEIPX in my portfolio?

UGPIX and VEIPX have a correlation of 0.31, 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 VEIPX?

UGPIX has higher volatility (12.11%) compared to VEIPX (2.84%). In terms of maximum drawdown, UGPIX dropped -98.56% vs VEIPX's -54.12%.

Which has better risk-adjusted returns?

VEIPX currently has the higher Sharpe Ratio (2.08 vs -0.60), 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.