UKPIX vs. RYAIX
UKPIX (ProFunds Ultra Short Japan Fund) and RYAIX (Rydex Inverse NASDAQ-100 Strategy Fund) are both Inverse Equities funds. Over the past 10 years, UKPIX returned -19.34%/yr vs -19.63%/yr for RYAIX. A 0.65 correlation means they provide meaningful diversification when combined. UKPIX charges 1.78%/yr vs 1.55%/yr for RYAIX.
Performance
UKPIX vs. RYAIX - Performance Comparison
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Returns By Period
In the year-to-date period, UKPIX achieves a -57.52% return, which is significantly lower than RYAIX's -16.95% return. Both investments have delivered pretty close results over the past 10 years, with UKPIX having a -19.34% annualized return and RYAIX not far behind at -19.63%.
UKPIX
- 1D
- -3.00%
- 1M
- -27.10%
- YTD
- -57.52%
- 6M
- -57.32%
- 1Y
- -76.59%
- 3Y*
- 13.45%
- 5Y*
- -2.39%
- 10Y*
- -19.34%
RYAIX
- 1D
- 0.21%
- 1M
- -3.12%
- YTD
- -16.95%
- 6M
- -15.72%
- 1Y
- -26.31%
- 3Y*
- -18.55%
- 5Y*
- -14.02%
- 10Y*
- -19.63%
UKPIX vs. RYAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | -57.52% | -44.54% | 554.47% | -43.26% | 9.92% | -20.34% | -47.86% | -35.34% | 13.58% | -34.24% |
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | -16.95% | -15.63% | -15.64% | -31.71% | 35.92% | -24.88% | -40.98% | -27.65% | -2.63% | -24.47% |
Correlation
The correlation between UKPIX and RYAIX is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006 | 0.65 |
The correlation between UKPIX and RYAIX has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
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Return for Risk
UKPIX vs. RYAIX — Risk / Return Rank
UKPIX
RYAIX
UKPIX vs. RYAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Japan Fund (UKPIX) and Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX). 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 | RYAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 0.64 | 0.75 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -1.01 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.63 | -2.10 | +0.47 |
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Drawdowns
UKPIX vs. RYAIX - Drawdown Comparison
The maximum UKPIX drawdown since its inception was -99.83%, roughly equal to the maximum RYAIX drawdown of -98.93%. Use the drawdown chart below to compare losses from any high point for UKPIX and RYAIX.
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Drawdown Indicators
| UKPIX | RYAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -98.93% | -0.90% |
Max Drawdown (1Y)Largest decline over 1 year | -76.38% | -25.69% | -50.69% |
Max Drawdown (3Y)Largest decline over 3 years | -83.62% | -50.13% | -33.49% |
Max Drawdown (5Y)Largest decline over 5 years | -83.62% | -61.15% | -22.47% |
Max Drawdown (10Y)Largest decline over 10 years | -95.41% | -89.04% | -6.37% |
Current DrawdownCurrent decline from peak | -99.56% | -98.92% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -82.73% | -73.33% | -9.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.84% | 13.68% | +34.16% |
Volatility
UKPIX vs. RYAIX - Volatility Comparison
ProFunds Ultra Short Japan Fund (UKPIX) has a higher volatility of 20.75% compared to Rydex Inverse NASDAQ-100 Strategy Fund (RYAIX) at 8.29%. This indicates that UKPIX's price experiences larger fluctuations and is considered to be riskier than RYAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPIX | RYAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.75% | 8.29% | +12.46% |
Volatility (6M)Calculated over the trailing 6-month period | 41.42% | 14.30% | +27.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.78% | 17.81% | +33.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 425.72% | 23.10% | +402.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 302.24% | 22.79% | +279.45% |
UKPIX vs. RYAIX - Expense Ratio Comparison
UKPIX has a 1.78% expense ratio, which is higher than RYAIX's 1.55% expense ratio.
Dividends
UKPIX vs. RYAIX - Dividend Comparison
UKPIX's dividend yield for the trailing twelve months is around 3.87%, more than RYAIX's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYAIX Rydex Inverse NASDAQ-100 Strategy Fund | 2.68% | 2.23% | 5.67% | 4.81% | 0.00% | 0.00% | 0.09% | 0.72% |
UKPIX ProFunds Ultra Short Japan Fund | 3.87% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UKPIX and RYAIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UKPIX has higher volatility (20.75%) compared to RYAIX (8.29%). In terms of maximum drawdown, UKPIX dropped -99.83% vs RYAIX's -98.93%.
UKPIX currently has the higher Sharpe Ratio (-1.49 vs -1.53), 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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