UIPIX vs. UWPIX
UIPIX (ProFunds UltraShort Mid Cap Fund) and UWPIX (ProFunds UltraShort Dow 30 Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UIPIX returned -7.60%/yr vs -26.45%/yr for UWPIX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 1.78% expense ratio.
Performance
UIPIX vs. UWPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UIPIX achieves a -25.34% return, which is significantly lower than UWPIX's -13.66% return. Over the past 10 years, UIPIX has outperformed UWPIX with an annualized return of -7.60%, while UWPIX has yielded a comparatively lower -26.45% annualized return.
UIPIX
- 1D
- -0.70%
- 1M
- -6.97%
- YTD
- -25.34%
- 6M
- -22.47%
- 1Y
- -36.05%
- 3Y*
- -25.29%
- 5Y*
- 29.03%
- 10Y*
- -7.60%
UWPIX
- 1D
- -0.52%
- 1M
- -4.49%
- YTD
- -13.66%
- 6M
- -12.17%
- 1Y
- -30.66%
- 3Y*
- -24.21%
- 5Y*
- -17.88%
- 10Y*
- -26.45%
UIPIX vs. UWPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UIPIX ProFunds UltraShort Mid Cap Fund | -25.34% | -13.23% | -22.21% | 668.01% | 11.30% | -42.71% | -53.90% | -38.37% | 21.21% | -27.33% |
UWPIX ProFunds UltraShort Dow 30 Fund | -13.66% | -23.48% | -20.75% | -18.56% | 5.91% | -35.49% | -45.69% | -36.17% | 1.45% | -39.01% |
Correlation
The correlation between UIPIX and UWPIX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jul 22, 2004 | 0.85 |
The correlation between UIPIX and UWPIX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
UIPIX vs. UWPIX — Risk / Return Rank
UIPIX
UWPIX
UIPIX vs. UWPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Mid Cap Fund (UIPIX) and ProFunds UltraShort Dow 30 Fund (UWPIX). 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 | UWPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.79 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -1.03 | -1.01 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.86 | -1.69 | -0.17 |
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Drawdowns
UIPIX vs. UWPIX - Drawdown Comparison
The maximum UIPIX drawdown since its inception was -99.84%, roughly equal to the maximum UWPIX drawdown of -99.78%. Use the drawdown chart below to compare losses from any high point for UIPIX and UWPIX.
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Drawdown Indicators
| UIPIX | UWPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.84% | -99.78% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -35.97% | -30.15% | -5.82% |
Max Drawdown (3Y)Largest decline over 3 years | -64.88% | -61.34% | -3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -64.88% | -68.99% | +4.11% |
Max Drawdown (10Y)Largest decline over 10 years | -91.19% | -95.56% | +4.37% |
Current DrawdownCurrent decline from peak | -99.22% | -99.78% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -80.78% | -77.69% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.02% | 20.00% | +1.02% |
Volatility
UIPIX vs. UWPIX - Volatility Comparison
ProFunds UltraShort Mid Cap Fund (UIPIX) has a higher volatility of 9.12% compared to ProFunds UltraShort Dow 30 Fund (UWPIX) at 8.51%. This indicates that UIPIX's price experiences larger fluctuations and is considered to be riskier than UWPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UIPIX | UWPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.12% | 8.51% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 23.47% | 19.83% | +3.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.55% | 25.03% | +6.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 418.87% | 30.05% | +388.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 297.67% | 35.04% | +262.63% |
UIPIX vs. UWPIX - Expense Ratio Comparison
Both UIPIX and UWPIX have an expense ratio of 1.78%.
Dividends
UIPIX vs. UWPIX - Dividend Comparison
UIPIX's dividend yield for the trailing twelve months is around 3.49%, less than UWPIX's 5.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UIPIX ProFunds UltraShort Mid Cap Fund | 3.49% | 2.60% | 0.00% | 4.74% | 0.00% | 0.00% | 0.00% | 0.48% |
UWPIX ProFunds UltraShort Dow 30 Fund | 5.23% | 4.51% | 0.00% | 2.28% | 0.00% | 0.00% | 0.00% | 0.35% |
Frequently Asked Questions
UIPIX and UWPIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UIPIX has higher volatility (9.12%) compared to UWPIX (8.51%). In terms of maximum drawdown, UIPIX dropped -99.84% vs UWPIX's -99.78%.
UIPIX currently has the higher Sharpe Ratio (-1.18 vs -1.28), 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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