UKPIX vs. UVPIX
UKPIX (ProFunds Ultra Short Japan Fund) and UVPIX (ProFunds Ultra Short Emerging Market Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UKPIX returned -15.88%/yr vs -26.40%/yr for UVPIX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.78% expense ratio.
Performance
UKPIX vs. UVPIX - 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 UVPIX's -16.08% return. Over the past 10 years, UKPIX has outperformed UVPIX with an annualized return of -15.88%, while UVPIX has yielded a comparatively lower -26.40% 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%
UVPIX
- 1D
- -1.96%
- 1M
- -8.12%
- 6M
- -1.80%
- YTD
- -16.08%
- 1Y
- -36.67%
- 3Y*
- -30.87%
- 5Y*
- -20.84%
- 10Y*
- -26.40%
- ALL TIME*
- -13.03%
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. UVPIX - 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% |
UVPIX ProFunds Ultra Short Emerging Market Fund | -16.08% | -49.90% | -17.67% | -27.06% | 1.35% | 15.70% | -57.91% | -39.81% | 20.65% | -48.37% |
Correlation
The correlation between UKPIX and UVPIX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006 | 0.62 |
The correlation between UKPIX and UVPIX has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.
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Return for Risk
UKPIX vs. UVPIX — Risk / Return Rank
UKPIX
UVPIX
UKPIX vs. UVPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Japan Fund (UKPIX) and ProFunds Ultra Short Emerging Market Fund (UVPIX). 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 | UVPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.87 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.91 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.27 | -0.12 |
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Drawdowns
UKPIX vs. UVPIX - Drawdown Comparison
The maximum UKPIX drawdown since its inception was -99.83%, roughly equal to the maximum UVPIX drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for UKPIX and UVPIX.
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Drawdown Indicators
| UKPIX | UVPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -99.86% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -73.93% | -41.73% | -32.20% |
Max Drawdown (3Y)Largest decline over 3 years | -83.62% | -75.41% | -8.21% |
Max Drawdown (5Y)Largest decline over 5 years | -83.62% | -83.54% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -94.57% | -95.73% | +1.16% |
Current DrawdownCurrent decline from peak | -99.43% | -99.85% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -82.82% | -89.55% | +6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.72% | 30.61% | +19.11% |
Volatility
UKPIX vs. UVPIX - Volatility Comparison
ProFunds Ultra Short Japan Fund (UKPIX) has a higher volatility of 18.54% compared to ProFunds Ultra Short Emerging Market Fund (UVPIX) at 13.06%. This indicates that UKPIX's price experiences larger fluctuations and is considered to be riskier than UVPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKPIX | UVPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.54% | 13.06% | +5.48% |
Volatility (6M)Calculated over the trailing 6-month period | 45.61% | 35.45% | +10.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.20% | 44.43% | +10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 425.81% | 48.08% | +377.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 302.24% | 46.55% | +255.69% |
UKPIX vs. UVPIX - Expense Ratio Comparison
Both UKPIX and UVPIX have an expense ratio of 1.78%.
Dividends
UKPIX vs. UVPIX - Dividend Comparison
UKPIX's dividend yield for the trailing twelve months is around 3.01%, less than UVPIX's 10.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | 3.01% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% |
UVPIX ProFunds Ultra Short Emerging Market Fund | 10.71% | 8.99% | 0.00% | 7.25% | 0.00% | 0.00% | 0.00% | 0.49% |
Frequently Asked Questions
UKPIX and UVPIX have a correlation of 0.64, 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 UVPIX (13.06%). In terms of maximum drawdown, UKPIX dropped -99.83% vs UVPIX's -99.86%.
UVPIX currently has the higher Sharpe Ratio (-0.86 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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