UKPIX vs. ULPIX
UKPIX (ProFunds Ultra Short Japan Fund) and ULPIX (ProFunds UltraBull Fund) are both mutual funds - UKPIX is a Inverse Equities fund managed by ProFunds, while ULPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, UKPIX returned -15.88%/yr vs 21.84%/yr for ULPIX. Their -0.71 correlation means they have often moved in opposite directions in the past. UKPIX charges 1.78%/yr vs 1.46%/yr for ULPIX.
Performance
UKPIX vs. ULPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UKPIX achieves a -45.39% return, which is significantly lower than ULPIX's 19.14% return. Over the past 10 years, UKPIX has underperformed ULPIX with an annualized return of -15.88%, while ULPIX has yielded a comparatively higher 21.84% annualized return.
UKPIX
- 1D
- -0.34%
- 1M
- 13.92%
- 6M
- -36.50%
- YTD
- -45.39%
- 1Y
- -66.40%
- 3Y*
- 21.87%
- 5Y*
- 1.18%
- 10Y*
- -15.88%
- ALL TIME*
- -17.91%
ULPIX
- 1D
- 2.91%
- 1M
- 2.64%
- 6M
- 17.25%
- YTD
- 19.14%
- 1Y
- 36.56%
- 3Y*
- 31.76%
- 5Y*
- 16.36%
- 10Y*
- 21.84%
- ALL TIME*
- 9.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
UKPIX vs. ULPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | -45.39% | -44.54% | 554.47% | -43.26% | 9.92% | -20.34% | -47.86% | -35.34% | 13.58% | -34.24% |
ULPIX ProFunds UltraBull Fund | 19.14% | 25.47% | 38.03% | 45.59% | -39.16% | 59.28% | 19.12% | 62.17% | -15.02% | 42.77% |
Correlation
The correlation between UKPIX and ULPIX is -0.71, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.71 |
Correlation (3Y) Balances recent behavior with more history. | -0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006 | -0.71 |
The correlation between UKPIX and ULPIX has been stable across timeframes, ranging from -0.71 to -0.66 - a consistent structural relationship.
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Return for Risk
UKPIX vs. ULPIX — Risk / Return Rank
UKPIX
ULPIX
UKPIX vs. ULPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Japan Fund (UKPIX) and ProFunds UltraBull Fund (ULPIX). 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 | ULPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.42 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.27 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 2.23 | -3.14 |
| Martin ratioReturn relative to average drawdown | -1.39 | 8.92 | -10.31 |
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Drawdowns
UKPIX vs. ULPIX - Drawdown Comparison
The maximum UKPIX drawdown since its inception was -99.83%, which is greater than ULPIX's maximum drawdown of -89.68%. Use the drawdown chart below to compare losses from any high point for UKPIX and ULPIX.
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Drawdown Indicators
| UKPIX | ULPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -89.68% | -10.15% |
Max Drawdown (1Y)Largest decline over 1 year | -73.93% | -18.30% | -55.63% |
Max Drawdown (3Y)Largest decline over 3 years | -83.62% | -36.59% | -47.03% |
Max Drawdown (5Y)Largest decline over 5 years | -83.62% | -46.92% | -36.70% |
Max Drawdown (10Y)Largest decline over 10 years | -94.57% | -59.41% | -35.16% |
Current DrawdownCurrent decline from peak | -99.43% | -1.35% | -98.08% |
Average DrawdownAverage peak-to-trough decline | -82.82% | -33.66% | -49.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.72% | 4.56% | +45.16% |
Volatility
UKPIX vs. ULPIX - Volatility Comparison
ProFunds Ultra Short Japan Fund (UKPIX) has a higher volatility of 18.54% compared to ProFunds UltraBull Fund (ULPIX) at 7.62%. This indicates that UKPIX's price experiences larger fluctuations and is considered to be riskier than ULPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPIX | ULPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.54% | 7.62% | +10.92% |
Volatility (6M)Calculated over the trailing 6-month period | 45.61% | 20.37% | +25.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.20% | 25.68% | +29.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 425.81% | 34.16% | +391.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 302.24% | 35.48% | +266.76% |
UKPIX vs. ULPIX - Expense Ratio Comparison
UKPIX has a 1.78% expense ratio, which is higher than ULPIX's 1.46% expense ratio.
Dividends
UKPIX vs. ULPIX - Dividend Comparison
UKPIX's dividend yield for the trailing twelve months is around 3.01%, less than ULPIX's 7.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | 3.01% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ULPIX ProFunds UltraBull Fund | 7.65% | 9.11% | 0.00% | 0.02% | 10.36% | 5.62% | 12.74% | 0.42% | 0.58% |
Frequently Asked Questions
UKPIX and ULPIX have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UKPIX has higher volatility (18.54%) compared to ULPIX (7.62%). In terms of maximum drawdown, UKPIX dropped -99.83% vs ULPIX's -89.68%.
ULPIX currently has the higher Sharpe Ratio (1.59 vs -1.23), 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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