UKPIX vs. UIPIX
UKPIX (ProFunds Ultra Short Japan Fund) and UIPIX (ProFunds UltraShort Mid Cap Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UKPIX returned -17.12%/yr vs -6.31%/yr for UIPIX. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 1.78% expense ratio.
Performance
UKPIX vs. UIPIX - 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 UIPIX's -24.21% return. Over the past 10 years, UKPIX has underperformed UIPIX with an annualized return of -17.12%, while UIPIX has yielded a comparatively higher -6.31% 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%
UIPIX
- 1D
- 0.11%
- 1M
- 1.03%
- 6M
- -16.71%
- YTD
- -24.21%
- 1Y
- -29.86%
- 3Y*
- -21.99%
- 5Y*
- 30.14%
- 10Y*
- -6.31%
UKPIX vs. UIPIX - 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% |
UIPIX ProFunds UltraShort Mid Cap Fund | -24.21% | -13.23% | -22.21% | 668.01% | 11.30% | -42.71% | -53.90% | -38.37% | 21.21% | -27.33% |
Correlation
The correlation between UKPIX and UIPIX is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
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 | 0.66 |
The correlation between UKPIX and UIPIX has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
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Return for Risk
UKPIX vs. UIPIX — Risk / Return Rank
UKPIX
UIPIX
UKPIX vs. UIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Japan Fund (UKPIX) and ProFunds UltraShort Mid Cap Fund (UIPIX). 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 | UIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 0.86 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.81 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.51 | -1.49 | -0.03 |
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Drawdowns
UKPIX vs. UIPIX - Drawdown Comparison
The maximum UKPIX drawdown since its inception was -99.83%, roughly equal to the maximum UIPIX drawdown of -99.84%. Use the drawdown chart below to compare losses from any high point for UKPIX and UIPIX.
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Drawdown Indicators
| UKPIX | UIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -99.84% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -75.44% | -35.54% | -39.90% |
Max Drawdown (3Y)Largest decline over 3 years | -83.62% | -65.67% | -17.95% |
Max Drawdown (5Y)Largest decline over 5 years | -83.62% | -65.67% | -17.95% |
Max Drawdown (10Y)Largest decline over 10 years | -94.80% | -90.12% | -4.68% |
Current DrawdownCurrent decline from peak | -99.51% | -99.21% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -82.77% | -80.82% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.06% | 19.31% | +28.75% |
Volatility
UKPIX vs. UIPIX - Volatility Comparison
ProFunds Ultra Short Japan Fund (UKPIX) has a higher volatility of 23.17% compared to ProFunds UltraShort Mid Cap Fund (UIPIX) at 9.20%. This indicates that UKPIX's price experiences larger fluctuations and is considered to be riskier than UIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPIX | UIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.17% | 9.20% | +13.97% |
Volatility (6M)Calculated over the trailing 6-month period | 44.60% | 23.37% | +21.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.11% | 31.50% | +22.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 425.61% | 418.70% | +6.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 302.10% | 297.53% | +4.57% |
UKPIX vs. UIPIX - Expense Ratio Comparison
Both UKPIX and UIPIX have an expense ratio of 1.78%.
Dividends
UKPIX vs. UIPIX - Dividend Comparison
UKPIX's dividend yield for the trailing twelve months is around 3.53%, more than UIPIX's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UIPIX ProFunds UltraShort Mid Cap Fund | 3.44% | 2.60% | 0.00% | 4.74% | 0.00% | 0.00% | 0.00% | 0.48% |
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 UIPIX have a correlation of 0.58, 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 UIPIX (9.20%). In terms of maximum drawdown, UKPIX dropped -99.83% vs UIPIX's -99.84%.
UIPIX currently has the higher Sharpe Ratio (-0.91 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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