ULPIX vs. BMPIX

Last updated Jun 24, 2026

ULPIX (ProFunds UltraBull Fund) and BMPIX (ProFunds Basic Materials UltraSector Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, ULPIX returned 23.21%/yr vs 10.91%/yr for BMPIX. A 0.78 correlation means they provide meaningful diversification when combined. ULPIX charges 1.46%/yr vs 1.89%/yr for BMPIX.

Performance

ULPIX vs. BMPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraBull Fund (ULPIX) and ProFunds Basic Materials UltraSector Fund (BMPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULPIX achieves a 16.02% return, which is significantly lower than BMPIX's 19.90% return. Over the past 10 years, ULPIX has outperformed BMPIX with an annualized return of 23.21%, while BMPIX has yielded a comparatively lower 10.91% annualized return.

ULPIX

• 1D: -0.78%
• 1M: -0.52%
• YTD: 16.02%
• 6M: 13.77%
• 1Y: 45.84%
• 3Y*: 32.87%
• 5Y*: 17.45%
• 10Y*: 23.21%

BMPIX

• 1D: 0.02%
• 1M: 4.12%
• YTD: 19.90%
• 6M: 18.12%
• 1Y: 26.00%
• 3Y*: 10.87%
• 5Y*: 6.52%
• 10Y*: 10.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ULPIX vs. BMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ULPIX ProFunds UltraBull Fund	16.02%	25.47%	38.03%	45.59%	-39.16%	59.28%	19.12%	62.17%	-15.02%	42.77%
BMPIX ProFunds Basic Materials UltraSector Fund	19.90%	9.09%	-5.35%	15.30%	-16.22%	38.93%	18.27%	25.13%	-26.81%	34.96%

Correlation

The correlation between ULPIX and BMPIX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 31, 2001	0.78

Over the past year, the correlation between ULPIX and BMPIX has dropped to 0.53 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

ULPIX vs. BMPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ULPIX

ULPIX Risk / Return Rank: 51
ULPIX Sharpe Ratio Rank: 52
ULPIX Sortino Ratio Rank: 42
ULPIX Omega Ratio Rank: 45
ULPIX Calmar Ratio Rank: 53
ULPIX Martin Ratio Rank: 61

BMPIX

BMPIX Risk / Return Rank: 18
BMPIX Sharpe Ratio Rank: 17
BMPIX Sortino Ratio Rank: 17
BMPIX Omega Ratio Rank: 16
BMPIX Calmar Ratio Rank: 21
BMPIX Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ULPIX vs. BMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and ProFunds Basic Materials UltraSector Fund (BMPIX). 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.

	ULPIX	BMPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.08	+0.88
Sortino ratio: Return per unit of downside risk	2.52	1.62	+0.90
Omega ratio: Gain probability vs. loss probability	1.33	1.19	+0.14
Calmar ratio: Return relative to maximum drawdown	2.67	1.53	+1.14
Martin ratio: Return relative to average drawdown	11.36	4.23	+7.14

ULPIX vs. BMPIX - Sharpe Ratio Comparison

The current ULPIX Sharpe Ratio is 1.96, which is higher than the BMPIX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of ULPIX and BMPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ULPIX vs. BMPIX - Drawdown Comparison

The maximum ULPIX drawdown since its inception was -89.68%, which is greater than BMPIX's maximum drawdown of -84.22%. Use the drawdown chart below to compare losses from any high point for ULPIX and BMPIX.

Drawdown Indicators

	ULPIX	BMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-89.68%	-84.22%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-18.30%	-18.38%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-36.59%	-34.54%	-2.05%
Max Drawdown (5Y) Largest decline over 5 years	-46.92%	-38.50%	-8.42%
Max Drawdown (10Y) Largest decline over 10 years	-59.41%	-61.41%	+2.00%
Current Drawdown Current decline from peak	-3.93%	-6.20%	+2.27%
Average Drawdown Average peak-to-trough decline	-33.78%	-24.08%	-9.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	6.65%	-2.36%

Volatility

ULPIX vs. BMPIX - Volatility Comparison

ProFunds UltraBull Fund (ULPIX) and ProFunds Basic Materials UltraSector Fund (BMPIX) have volatilities of 9.35% and 9.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULPIX	BMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	9.01%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	19.65%	20.33%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	24.96%	26.22%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.09%	29.65%	+4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.54%	32.18%	+3.36%

ULPIX vs. BMPIX - Expense Ratio Comparison

ULPIX has a 1.46% expense ratio, which is lower than BMPIX's 1.89% expense ratio.

Dividends

ULPIX vs. BMPIX - Dividend Comparison

ULPIX's dividend yield for the trailing twelve months is around 7.85%, more than BMPIX's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BMPIX ProFunds Basic Materials UltraSector Fund	1.51%	1.81%	0.94%	0.96%	0.00%	0.00%	0.28%	0.00%	0.00%	0.00%	0.16%
ULPIX ProFunds UltraBull Fund	7.85%	9.11%	0.00%	0.02%	10.36%	5.62%	12.74%	0.42%	0.58%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ULPIX and BMPIX in my portfolio?

ULPIX and BMPIX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULPIX or BMPIX?

ULPIX has higher volatility (9.35%) compared to BMPIX (9.01%). In terms of maximum drawdown, ULPIX dropped -89.68% vs BMPIX's -84.22%.

Which has better risk-adjusted returns?

ULPIX currently has the higher Sharpe Ratio (1.96 vs 1.08), 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.