ULPIX vs. FYAIX

Last updated Jun 24, 2026

ULPIX (ProFunds UltraBull Fund) and FYAIX (Access Flex High Yield ProFund) are both mutual funds - ULPIX is a Leveraged Equities fund managed by ProFunds, while FYAIX is a High Yield Bonds fund managed by ProFunds. Over the past 10 years, ULPIX returned 23.21%/yr vs 2.57%/yr for FYAIX. A 0.64 correlation means they provide meaningful diversification when combined. ULPIX charges 1.46%/yr vs 1.78%/yr for FYAIX.

Performance

ULPIX vs. FYAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraBull Fund (ULPIX) and Access Flex High Yield ProFund (FYAIX). 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 higher than FYAIX's 0.96% return. Over the past 10 years, ULPIX has outperformed FYAIX with an annualized return of 23.21%, while FYAIX has yielded a comparatively lower 2.57% 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%

FYAIX

• 1D: -0.10%
• 1M: 0.42%
• YTD: 0.96%
• 6M: 1.10%
• 1Y: 4.46%
• 3Y*: 4.45%
• 5Y*: 1.19%
• 10Y*: 2.57%

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

ULPIX vs. FYAIX - 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%
FYAIX Access Flex High Yield ProFund	0.96%	6.61%	2.04%	7.18%	-9.58%	0.40%	0.04%	12.17%	-0.62%	4.26%

Correlation

The correlation between ULPIX and FYAIX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Dec 17, 2004	0.64

The correlation between ULPIX and FYAIX shifts across timeframes, from 0.64 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ULPIX vs. FYAIX — 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

FYAIX

FYAIX Risk / Return Rank: 27
FYAIX Sharpe Ratio Rank: 21
FYAIX Sortino Ratio Rank: 22
FYAIX Omega Ratio Rank: 22
FYAIX Calmar Ratio Rank: 29
FYAIX Martin Ratio Rank: 39

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. FYAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and Access Flex High Yield ProFund (FYAIX). 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	FYAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.20	+0.76
Sortino ratio: Return per unit of downside risk	2.52	1.79	+0.72
Omega ratio: Gain probability vs. loss probability	1.33	1.22	+0.11
Calmar ratio: Return relative to maximum drawdown	2.67	1.89	+0.78
Martin ratio: Return relative to average drawdown	11.36	8.03	+3.33

ULPIX vs. FYAIX - Sharpe Ratio Comparison

The current ULPIX Sharpe Ratio is 1.96, which is higher than the FYAIX Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of ULPIX and FYAIX, 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. FYAIX - Drawdown Comparison

The maximum ULPIX drawdown since its inception was -89.68%, which is greater than FYAIX's maximum drawdown of -25.01%. Use the drawdown chart below to compare losses from any high point for ULPIX and FYAIX.

Drawdown Indicators

	ULPIX	FYAIX	Difference
Max Drawdown Largest peak-to-trough decline	-89.68%	-25.01%	-64.67%
Max Drawdown (1Y) Largest decline over 1 year	-18.30%	-2.46%	-15.84%
Max Drawdown (3Y) Largest decline over 3 years	-36.59%	-7.68%	-28.91%
Max Drawdown (5Y) Largest decline over 5 years	-46.92%	-17.01%	-29.91%
Max Drawdown (10Y) Largest decline over 10 years	-59.41%	-17.01%	-42.40%
Current Drawdown Current decline from peak	-3.93%	-0.16%	-3.77%
Average Drawdown Average peak-to-trough decline	-33.78%	-2.93%	-30.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	0.58%	+3.71%

Volatility

ULPIX vs. FYAIX - Volatility Comparison

ProFunds UltraBull Fund (ULPIX) has a higher volatility of 9.35% compared to Access Flex High Yield ProFund (FYAIX) at 1.13%. This indicates that ULPIX's price experiences larger fluctuations and is considered to be riskier than FYAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULPIX	FYAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	1.13%	+8.22%
Volatility (6M) Calculated over the trailing 6-month period	19.65%	3.12%	+16.53%
Volatility (1Y) Calculated over the trailing 1-year period	24.96%	3.89%	+21.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.09%	7.23%	+26.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.54%	7.45%	+28.09%

ULPIX vs. FYAIX - Expense Ratio Comparison

ULPIX has a 1.46% expense ratio, which is lower than FYAIX's 1.78% expense ratio.

Dividends

ULPIX vs. FYAIX - Dividend Comparison

ULPIX's dividend yield for the trailing twelve months is around 7.85%, more than FYAIX's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FYAIX Access Flex High Yield ProFund	2.04%	2.29%	4.08%	1.07%	2.80%	2.89%	2.69%	4.85%	2.10%	3.45%	2.18%	9.12%
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%	0.00%

Frequently Asked Questions

Can I hold both ULPIX and FYAIX in my portfolio?

ULPIX and FYAIX have a correlation of 0.76, 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 FYAIX?

ULPIX has higher volatility (9.35%) compared to FYAIX (1.13%). In terms of maximum drawdown, ULPIX dropped -89.68% vs FYAIX's -25.01%.

Which has better risk-adjusted returns?

ULPIX currently has the higher Sharpe Ratio (1.96 vs 1.20), 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.