UIPIX vs. BEARX
UIPIX (ProFunds UltraShort Mid Cap Fund) and BEARX (Federated Hermes Prudent Bear Fd) are both Inverse Equities funds. Over the past 10 years, UIPIX returned -6.30%/yr vs -14.37%/yr for BEARX. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 1.78% expense ratio.
Performance
UIPIX vs. BEARX - Performance Comparison
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Returns By Period
In the year-to-date period, UIPIX achieves a -24.09% return, which is significantly lower than BEARX's -8.18% return. Over the past 10 years, UIPIX has outperformed BEARX with an annualized return of -6.30%, while BEARX has yielded a comparatively lower -14.37% annualized return.
UIPIX
- 1D
- -0.05%
- 1M
- 1.13%
- 6M
- -14.13%
- YTD
- -24.09%
- 1Y
- -31.25%
- 3Y*
- -21.78%
- 5Y*
- 28.51%
- 10Y*
- -6.30%
BEARX
- 1D
- -0.29%
- 1M
- 0.00%
- 6M
- -7.45%
- YTD
- -8.18%
- 1Y
- -14.40%
- 3Y*
- -14.86%
- 5Y*
- -11.67%
- 10Y*
- -14.37%
UIPIX vs. BEARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UIPIX ProFunds UltraShort Mid Cap Fund | -24.09% | -13.23% | -22.21% | 668.01% | 11.30% | -42.71% | -53.90% | -38.37% | 21.21% | -27.33% |
BEARX Federated Hermes Prudent Bear Fd | -8.18% | -12.42% | -20.34% | -18.67% | 17.78% | -23.78% | -22.95% | -19.95% | -5.96% | -15.76% |
Correlation
The correlation between UIPIX and BEARX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.81 |
Over the past year, the correlation between UIPIX and BEARX has dropped to 0.26 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
UIPIX vs. BEARX — Risk / Return Rank
UIPIX
BEARX
UIPIX vs. BEARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Mid Cap Fund (UIPIX) and Federated Hermes Prudent Bear Fd (BEARX). 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.
| UIPIX | BEARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.81 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.85 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.63 | -1.67 | +0.05 |
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Drawdowns
UIPIX vs. BEARX - Drawdown Comparison
The maximum UIPIX drawdown since its inception was -99.84%, roughly equal to the maximum BEARX drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for UIPIX and BEARX.
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Drawdown Indicators
| UIPIX | BEARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.84% | -95.75% | -4.09% |
Max Drawdown (1Y)Largest decline over 1 year | -35.54% | -16.55% | -18.99% |
Max Drawdown (3Y)Largest decline over 3 years | -65.67% | -44.46% | -21.21% |
Max Drawdown (5Y)Largest decline over 5 years | -65.67% | -52.48% | -13.19% |
Max Drawdown (10Y)Largest decline over 10 years | -90.12% | -79.22% | -10.90% |
Current DrawdownCurrent decline from peak | -99.21% | -95.69% | -3.52% |
Average DrawdownAverage peak-to-trough decline | -80.83% | -61.16% | -19.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.64% | 8.38% | +11.26% |
Volatility
UIPIX vs. BEARX - Volatility Comparison
ProFunds UltraShort Mid Cap Fund (UIPIX) has a higher volatility of 6.89% compared to Federated Hermes Prudent Bear Fd (BEARX) at 4.15%. This indicates that UIPIX's price experiences larger fluctuations and is considered to be riskier than BEARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UIPIX | BEARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.89% | 4.15% | +2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 23.36% | 10.20% | +13.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.47% | 12.49% | +18.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 418.87% | 17.13% | +401.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 297.59% | 16.69% | +280.90% |
UIPIX vs. BEARX - Expense Ratio Comparison
Both UIPIX and BEARX have an expense ratio of 1.78%.
Dividends
UIPIX vs. BEARX - Dividend Comparison
UIPIX's dividend yield for the trailing twelve months is around 3.43%, less than BEARX's 7.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BEARX Federated Hermes Prudent Bear Fd | 7.31% | 6.71% | 0.00% | 13.32% | 0.00% | 0.00% | 0.00% | 0.62% |
UIPIX ProFunds UltraShort Mid Cap Fund | 3.43% | 2.60% | 0.00% | 4.74% | 0.00% | 0.00% | 0.00% | 0.48% |
Frequently Asked Questions
UIPIX and BEARX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UIPIX has higher volatility (6.89%) compared to BEARX (4.15%). In terms of maximum drawdown, UIPIX dropped -99.84% vs BEARX's -95.75%.
UIPIX currently has the higher Sharpe Ratio (-1.02 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.
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