UKPIX vs. UOPIX
UKPIX (ProFunds Ultra Short Japan Fund) and UOPIX (ProFunds UltraNASDAQ-100 Fund) are both mutual funds - UKPIX is a Inverse Equities fund managed by ProFunds, while UOPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, UKPIX returned -17.12%/yr vs 33.36%/yr for UOPIX. At a correlation of -0.65, they often move in opposite directions. UKPIX charges 1.78%/yr vs 1.47%/yr for UOPIX.
Performance
UKPIX vs. UOPIX - 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 UOPIX's 32.77% return. Over the past 10 years, UKPIX has underperformed UOPIX with an annualized return of -17.12%, while UOPIX has yielded a comparatively higher 33.36% 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%
UOPIX
- 1D
- 0.64%
- 1M
- 0.34%
- 6M
- 27.58%
- YTD
- 32.77%
- 1Y
- 58.24%
- 3Y*
- 42.82%
- 5Y*
- 19.14%
- 10Y*
- 33.36%
UKPIX vs. UOPIX - 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% |
UOPIX ProFunds UltraNASDAQ-100 Fund | 32.77% | 30.26% | 41.75% | 115.97% | -60.70% | 48.28% | 86.57% | 80.53% | -9.41% | 68.58% |
Correlation
The correlation between UKPIX and UOPIX is -0.75, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006 | -0.65 |
The correlation between UKPIX and UOPIX has been stable across timeframes, ranging from -0.75 to -0.65 - a consistent structural relationship.
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Return for Risk
UKPIX vs. UOPIX — Risk / Return Rank
UKPIX
UOPIX
UKPIX vs. UOPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Japan Fund (UKPIX) and ProFunds UltraNASDAQ-100 Fund (UOPIX). 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 | UOPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.92 | ||
| Sortino ratioReturn per unit of downside risk | -4.78 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 1.27 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 2.32 | -3.28 |
| Martin ratioReturn relative to average drawdown | -1.51 | 7.68 | -9.19 |
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Drawdowns
UKPIX vs. UOPIX - Drawdown Comparison
The maximum UKPIX drawdown since its inception was -99.83%, roughly equal to the maximum UOPIX drawdown of -99.00%. Use the drawdown chart below to compare losses from any high point for UKPIX and UOPIX.
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Drawdown Indicators
| UKPIX | UOPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -99.00% | -0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -75.44% | -24.97% | -50.47% |
Max Drawdown (3Y)Largest decline over 3 years | -83.62% | -42.52% | -41.10% |
Max Drawdown (5Y)Largest decline over 5 years | -83.62% | -65.01% | -18.61% |
Max Drawdown (10Y)Largest decline over 10 years | -94.80% | -65.01% | -29.79% |
Current DrawdownCurrent decline from peak | -99.51% | -6.77% | -92.74% |
Average DrawdownAverage peak-to-trough decline | -82.77% | -67.48% | -15.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.06% | 7.52% | +40.54% |
Volatility
UKPIX vs. UOPIX - Volatility Comparison
ProFunds Ultra Short Japan Fund (UKPIX) has a higher volatility of 23.17% compared to ProFunds UltraNASDAQ-100 Fund (UOPIX) at 16.90%. This indicates that UKPIX's price experiences larger fluctuations and is considered to be riskier than UOPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPIX | UOPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.17% | 16.90% | +6.27% |
Volatility (6M)Calculated over the trailing 6-month period | 44.60% | 30.37% | +14.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.11% | 36.86% | +17.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 425.61% | 45.83% | +379.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 302.10% | 44.41% | +257.69% |
UKPIX vs. UOPIX - Expense Ratio Comparison
UKPIX has a 1.78% expense ratio, which is higher than UOPIX's 1.47% expense ratio.
Dividends
UKPIX vs. UOPIX - Dividend Comparison
UKPIX's dividend yield for the trailing twelve months is around 3.53%, less than UOPIX's 13.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | 3.53% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UOPIX ProFunds UltraNASDAQ-100 Fund | 13.76% | 18.27% | 0.41% | 0.00% | 5.64% | 11.03% | 9.78% | 5.78% | 6.73% |
Frequently Asked Questions
UKPIX and UOPIX have a correlation of -0.75, 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 UOPIX (16.90%). In terms of maximum drawdown, UKPIX dropped -99.83% vs UOPIX's -99.00%.
UOPIX currently has the higher Sharpe Ratio (1.57 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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