ULPIX vs. BRPIX
ULPIX (ProFunds UltraBull Fund) and BRPIX (ProFunds Bear Fund) are both mutual funds - ULPIX is a Leveraged Equities fund managed by ProFunds, while BRPIX is a Inverse Equities fund managed by ProFunds. Over the past 10 years, ULPIX returned 21.47%/yr vs -13.79%/yr for BRPIX. Their -0.99 correlation means they have often moved in opposite directions in the past. ULPIX charges 1.46%/yr vs 1.64%/yr for BRPIX.
Performance
ULPIX vs. BRPIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ULPIX achieves a 14.19% return, which is significantly higher than BRPIX's -6.47% return. Over the past 10 years, ULPIX has outperformed BRPIX with an annualized return of 21.47%, while BRPIX has yielded a comparatively lower -13.79% annualized return.
ULPIX
- 1D
- 3.31%
- 1M
- -1.63%
- 6M
- 11.59%
- YTD
- 14.19%
- 1Y
- 34.71%
- 3Y*
- 27.77%
- 5Y*
- 15.45%
- 10Y*
- 21.47%
- ALL TIME*
- 9.31%
BRPIX
- 1D
- -1.61%
- 1M
- 0.83%
- 6M
- -5.43%
- YTD
- -6.47%
- 1Y
- -13.31%
- 3Y*
- -13.67%
- 5Y*
- -10.10%
- 10Y*
- -13.79%
- ALL TIME*
- 0.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BRPIX ProFunds Bear Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
ULPIX vs. BRPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ULPIX ProFunds UltraBull Fund | 14.19% | 25.47% | 38.03% | 45.59% | -39.16% | 59.28% | 19.12% | 62.17% | -15.02% | 42.77% |
BRPIX ProFunds Bear Fund | -6.47% | -12.27% | -20.40% | -15.39% | 17.31% | -24.68% | -25.63% | -23.18% | 4.03% | -18.03% |
Correlation
The correlation between ULPIX and BRPIX is -1.00, 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. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | -0.99 |
The correlation between ULPIX and BRPIX has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ULPIX vs. BRPIX — Risk / Return Rank
ULPIX
BRPIX
ULPIX vs. BRPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and ProFunds Bear Fund (BRPIX). 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 | BRPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.86 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | -0.71 | +2.33 |
| Martin ratioReturn relative to average drawdown | 6.47 | -1.26 | +7.72 |
Loading charts...
Drawdowns
ULPIX vs. BRPIX - Drawdown Comparison
The maximum ULPIX drawdown since its inception was -89.68%, smaller than the maximum BRPIX drawdown of -96.76%. Use the drawdown chart below to compare losses from any high point for ULPIX and BRPIX.
Loading charts...
Drawdown Indicators
| ULPIX | BRPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.68% | -96.76% | +7.08% |
Max Drawdown (1Y)Largest decline over 1 year | -18.30% | -16.15% | -2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -36.59% | -44.49% | +7.90% |
Max Drawdown (5Y)Largest decline over 5 years | -46.92% | -50.06% | +3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -59.41% | -78.55% | +19.14% |
Current DrawdownCurrent decline from peak | -5.45% | -96.28% | +90.83% |
Average DrawdownAverage peak-to-trough decline | -33.67% | -62.30% | +28.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 9.18% | -4.62% |
Volatility
ULPIX vs. BRPIX - Volatility Comparison
ProFunds UltraBull Fund (ULPIX) has a higher volatility of 6.90% compared to ProFunds Bear Fund (BRPIX) at 3.39%. This indicates that ULPIX's price experiences larger fluctuations and is considered to be riskier than BRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ULPIX | BRPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.90% | 3.39% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 20.16% | 10.17% | +9.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.68% | 12.90% | +12.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.14% | 17.28% | +16.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.45% | 17.88% | +17.57% |
ULPIX vs. BRPIX - Expense Ratio Comparison
ULPIX has a 1.46% expense ratio, which is lower than BRPIX's 1.64% expense ratio.
Dividends
ULPIX vs. BRPIX - Dividend Comparison
ULPIX's dividend yield for the trailing twelve months is around 7.98%, more than BRPIX's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BRPIX ProFunds Bear Fund | 4.65% | 4.35% | 0.00% | 5.58% | 0.00% | 0.00% | 0.06% | 0.27% | 0.00% |
ULPIX ProFunds UltraBull Fund | 7.98% | 9.11% | 0.00% | 0.02% | 10.36% | 5.62% | 12.74% | 0.42% | 0.58% |
Frequently Asked Questions
ULPIX and BRPIX have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULPIX has higher volatility (6.90%) compared to BRPIX (3.39%). In terms of maximum drawdown, ULPIX dropped -89.68% vs BRPIX's -96.76%.
ULPIX currently has the higher Sharpe Ratio (1.15 vs -0.90), 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.
Find the right allocation for ULPIX and BRPIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer