UJPIX vs. EWJ
UJPIX (ProFunds UltraJapan Fund) and EWJ (iShares MSCI Japan ETF) are both funds - UJPIX is a Leveraged Equities fund managed by ProFunds, while EWJ is a Japan Equities fund tracking the MSCI Japan Index. Over the past 10 years, UJPIX returned 28.00%/yr vs 8.81%/yr for EWJ. Their correlation of 0.82 suggests significant overlap in exposure. UJPIX charges 1.78%/yr vs 0.49%/yr for EWJ.
Performance
UJPIX vs. EWJ - Performance Comparison
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Returns By Period
In the year-to-date period, UJPIX achieves a 75.51% return, which is significantly higher than EWJ's 12.36% return. Over the past 10 years, UJPIX has outperformed EWJ with an annualized return of 28.00%, while EWJ has yielded a comparatively lower 8.81% annualized return.
UJPIX
- 1D
- -1.39%
- 1M
- 18.62%
- YTD
- 75.51%
- 6M
- 75.55%
- 1Y
- 216.47%
- 3Y*
- 57.94%
- 5Y*
- 36.16%
- 10Y*
- 28.00%
EWJ
- 1D
- -3.62%
- 1M
- -1.05%
- YTD
- 12.36%
- 6M
- 12.44%
- 1Y
- 29.28%
- 3Y*
- 16.28%
- 5Y*
- 8.04%
- 10Y*
- 8.81%
UJPIX vs. EWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJPIX ProFunds UltraJapan Fund | 75.51% | 60.72% | 28.67% | 70.81% | -21.63% | 6.44% | 23.36% | 40.42% | -25.61% | 39.72% |
EWJ iShares MSCI Japan ETF | 12.36% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
Correlation
The correlation between UJPIX and EWJ 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 | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2000 | 0.82 |
The correlation between UJPIX and EWJ has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
UJPIX vs. EWJ — Risk / Return Rank
UJPIX
EWJ
UJPIX vs. EWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraJapan Fund (UJPIX) and iShares MSCI Japan ETF (EWJ). 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.
| UJPIX | EWJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.28 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 7.98 | 2.16 | +5.81 |
| Martin ratioReturn relative to average drawdown | 27.14 | 7.31 | +19.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UJPIX | EWJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.47 | 1.48 | +2.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.44 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.51 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.11 | -0.01 |
Drawdowns
UJPIX vs. EWJ - Drawdown Comparison
The maximum UJPIX drawdown since its inception was -89.83%, which is greater than EWJ's maximum drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for UJPIX and EWJ.
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Drawdown Indicators
| UJPIX | EWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.83% | -60.93% | -28.90% |
Max Drawdown (1Y)Largest decline over 1 year | -27.11% | -13.59% | -13.52% |
Max Drawdown (3Y)Largest decline over 3 years | -43.92% | -14.68% | -29.24% |
Max Drawdown (5Y)Largest decline over 5 years | -43.92% | -33.14% | -10.78% |
Max Drawdown (10Y)Largest decline over 10 years | -56.99% | -33.14% | -23.85% |
Current DrawdownCurrent decline from peak | -1.39% | -3.62% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -49.92% | -21.73% | -28.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.95% | 4.01% | +3.94% |
Volatility
UJPIX vs. EWJ - Volatility Comparison
ProFunds UltraJapan Fund (UJPIX) has a higher volatility of 13.04% compared to iShares MSCI Japan ETF (EWJ) at 5.08%. This indicates that UJPIX's price experiences larger fluctuations and is considered to be riskier than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UJPIX | EWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 5.08% | +7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 36.68% | 15.50% | +21.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.38% | 19.84% | +28.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.86% | 18.29% | +23.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.35% | 17.31% | +24.04% |
UJPIX vs. EWJ - Expense Ratio Comparison
UJPIX has a 1.78% expense ratio, which is higher than EWJ's 0.49% expense ratio.
Dividends
UJPIX vs. EWJ - Dividend Comparison
UJPIX's dividend yield for the trailing twelve months is around 22.62%, more than EWJ's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 4.03% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
UJPIX ProFunds UltraJapan Fund | 22.62% | 39.71% | 0.00% | 0.00% | 0.00% | 14.19% | 0.00% | 0.00% | 2.64% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UJPIX and EWJ 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.
UJPIX has higher volatility (13.04%) compared to EWJ (5.08%). In terms of maximum drawdown, UJPIX dropped -89.83% vs EWJ's -60.93%.
UJPIX currently has the higher Sharpe Ratio (4.47 vs 1.48), 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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