UHPIX vs. UIPIX
UHPIX (ProFunds UltraShort China) and UIPIX (ProFunds UltraShort Mid Cap Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UHPIX returned -30.99%/yr vs -6.23%/yr for UIPIX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.78% expense ratio.
Performance
UHPIX vs. UIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UHPIX achieves a 20.85% return, which is significantly higher than UIPIX's -23.15% return. Over the past 10 years, UHPIX has underperformed UIPIX with an annualized return of -30.99%, while UIPIX has yielded a comparatively higher -6.23% annualized return.
UHPIX
- 1D
- -3.41%
- 1M
- -21.05%
- 6M
- 28.14%
- YTD
- 20.85%
- 1Y
- -1.04%
- 3Y*
- -21.49%
- 5Y*
- -31.18%
- 10Y*
- -30.99%
- ALL TIME*
- -30.65%
UIPIX
- 1D
- 0.32%
- 1M
- 2.65%
- 6M
- -15.63%
- YTD
- -23.15%
- 1Y
- -32.06%
- 3Y*
- -20.65%
- 5Y*
- 30.64%
- 10Y*
- -6.23%
- ALL TIME*
- -1.67%
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 |
UHPIX vs. UIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UHPIX ProFunds UltraShort China | 20.85% | -49.82% | -29.87% | -26.13% | -63.62% | 94.89% | -64.76% | -43.34% | 39.47% | -57.67% |
UIPIX ProFunds UltraShort Mid Cap Fund | -23.15% | -13.23% | -22.21% | 668.01% | 11.30% | -42.71% | -53.90% | -38.37% | 21.21% | -27.33% |
Correlation
The correlation between UHPIX and UIPIX is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2008 | 0.59 |
Over the past year, the correlation between UHPIX and UIPIX has dropped to 0.33 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
UHPIX vs. UIPIX — Risk / Return Rank
UHPIX
UIPIX
UHPIX vs. UIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort China (UHPIX) and ProFunds UltraShort Mid Cap Fund (UIPIX). 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.
| UHPIX | UIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.85 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | -0.85 | +0.93 |
| Martin ratioReturn relative to average drawdown | 0.15 | -1.44 | +1.59 |
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Drawdowns
UHPIX vs. UIPIX - Drawdown Comparison
The maximum UHPIX drawdown since its inception was -99.98%, roughly equal to the maximum UIPIX drawdown of -99.84%. Use the drawdown chart below to compare losses from any high point for UHPIX and UIPIX.
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Drawdown Indicators
| UHPIX | UIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -99.84% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -39.69% | -35.47% | -4.22% |
Max Drawdown (3Y)Largest decline over 3 years | -80.64% | -65.67% | -14.97% |
Max Drawdown (5Y)Largest decline over 5 years | -96.64% | -65.67% | -30.97% |
Max Drawdown (10Y)Largest decline over 10 years | -98.49% | -90.12% | -8.37% |
Current DrawdownCurrent decline from peak | -99.96% | -99.20% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -93.46% | -80.87% | -12.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.19% | 20.87% | +0.32% |
Volatility
UHPIX vs. UIPIX - Volatility Comparison
ProFunds UltraShort China (UHPIX) has a higher volatility of 13.79% compared to ProFunds UltraShort Mid Cap Fund (UIPIX) at 6.74%. This indicates that UHPIX's price experiences larger fluctuations and is considered to be riskier than UIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UHPIX | UIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.79% | 6.74% | +7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 38.31% | 23.24% | +15.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.45% | 31.27% | +22.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.00% | 418.69% | -336.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 228.56% | 297.54% | -68.98% |
UHPIX vs. UIPIX - Expense Ratio Comparison
Both UHPIX and UIPIX have an expense ratio of 1.78%.
Dividends
UHPIX vs. UIPIX - Dividend Comparison
UHPIX's dividend yield for the trailing twelve months is around 3.55%, more than UIPIX's 3.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UHPIX ProFunds UltraShort China | 3.55% | 4.29% | 0.00% | 3.45% | 0.00% | 0.00% | 0.00% | 0.55% |
UIPIX ProFunds UltraShort Mid Cap Fund | 3.39% | 2.60% | 0.00% | 4.74% | 0.00% | 0.00% | 0.00% | 0.48% |
Frequently Asked Questions
UHPIX and UIPIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UHPIX has higher volatility (13.79%) compared to UIPIX (6.74%). In terms of maximum drawdown, UHPIX dropped -99.98% vs UIPIX's -99.84%.
UHPIX currently has the higher Sharpe Ratio (0.06 vs -0.97), 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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