UKPIX vs. BRPIX
UKPIX (ProFunds Ultra Short Japan Fund) and BRPIX (ProFunds Bear Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UKPIX returned -17.12%/yr vs -14.06%/yr for BRPIX. A 0.71 correlation means they provide meaningful diversification when combined. UKPIX charges 1.78%/yr vs 1.64%/yr for BRPIX.
Performance
UKPIX vs. BRPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UKPIX achieves a -53.43% return, which is significantly lower than BRPIX's -8.33% return. Over the past 10 years, UKPIX has underperformed BRPIX with an annualized return of -17.12%, while BRPIX has yielded a comparatively higher -14.06% annualized return.
UKPIX
- 1D
- -0.70%
- 1M
- -8.07%
- 6M
- -46.05%
- YTD
- -53.43%
- 1Y
- -73.07%
- 3Y*
- 16.21%
- 5Y*
- -0.73%
- 10Y*
- -17.12%
BRPIX
- 1D
- -0.48%
- 1M
- -1.65%
- 6M
- -6.70%
- YTD
- -8.33%
- 1Y
- -14.45%
- 3Y*
- -15.07%
- 5Y*
- -10.61%
- 10Y*
- -14.06%
UKPIX vs. BRPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | -53.43% | -44.54% | 554.47% | -43.26% | 9.92% | -20.34% | -47.86% | -35.34% | 13.58% | -34.24% |
BRPIX ProFunds Bear Fund | -8.33% | -12.27% | -20.40% | -15.39% | 17.31% | -24.68% | -25.63% | -23.18% | 4.03% | -18.03% |
Correlation
The correlation between UKPIX and BRPIX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006 | 0.71 |
The correlation between UKPIX and BRPIX has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
UKPIX vs. BRPIX — Risk / Return Rank
UKPIX
BRPIX
UKPIX vs. BRPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Japan Fund (UKPIX) and ProFunds Bear Fund (BRPIX). 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.
| UKPIX | BRPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 0.82 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.88 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.51 | -1.65 | +0.14 |
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Drawdowns
UKPIX vs. BRPIX - Drawdown Comparison
The maximum UKPIX drawdown since its inception was -99.83%, roughly equal to the maximum BRPIX drawdown of -96.76%. Use the drawdown chart below to compare losses from any high point for UKPIX and BRPIX.
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Drawdown Indicators
| UKPIX | BRPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -96.76% | -3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -75.44% | -16.15% | -59.29% |
Max Drawdown (3Y)Largest decline over 3 years | -83.62% | -44.49% | -39.13% |
Max Drawdown (5Y)Largest decline over 5 years | -83.62% | -50.06% | -33.56% |
Max Drawdown (10Y)Largest decline over 10 years | -94.80% | -78.55% | -16.25% |
Current DrawdownCurrent decline from peak | -99.51% | -96.35% | -3.16% |
Average DrawdownAverage peak-to-trough decline | -82.77% | -62.24% | -20.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.06% | 8.55% | +39.51% |
Volatility
UKPIX vs. BRPIX - Volatility Comparison
ProFunds Ultra Short Japan Fund (UKPIX) has a higher volatility of 23.17% compared to ProFunds Bear Fund (BRPIX) at 4.22%. This indicates that UKPIX's price experiences larger fluctuations and is considered to be riskier than BRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPIX | BRPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.17% | 4.22% | +18.95% |
Volatility (6M)Calculated over the trailing 6-month period | 44.60% | 10.04% | +34.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.11% | 12.57% | +41.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 425.61% | 17.27% | +408.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 302.10% | 17.86% | +284.24% |
UKPIX vs. BRPIX - Expense Ratio Comparison
UKPIX has a 1.78% expense ratio, which is higher than BRPIX's 1.64% expense ratio.
Dividends
UKPIX vs. BRPIX - Dividend Comparison
UKPIX's dividend yield for the trailing twelve months is around 3.53%, less than BRPIX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BRPIX ProFunds Bear Fund | 4.74% | 4.35% | 0.00% | 5.58% | 0.00% | 0.00% | 0.06% | 0.27% |
UKPIX ProFunds Ultra Short Japan Fund | 3.53% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UKPIX and BRPIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UKPIX has higher volatility (23.17%) compared to BRPIX (4.22%). In terms of maximum drawdown, UKPIX dropped -99.83% vs BRPIX's -96.76%.
BRPIX currently has the higher Sharpe Ratio (-1.13 vs -1.35), 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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