ULPIX vs. SPY
Compare and contrast key facts about ProFunds UltraBull Fund (ULPIX) and State Street SPDR S&P 500 ETF (SPY).
ULPIX is managed by ProFunds. It was launched on Nov 25, 1997. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
ULPIX vs. SPY - Performance Comparison
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ULPIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ULPIX ProFunds UltraBull Fund | -15.24% | 25.47% | 38.03% | 45.59% | -39.16% | 59.28% | 19.12% | 62.17% | -15.02% | 42.77% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, ULPIX achieves a -15.24% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, ULPIX has outperformed SPY with an annualized return of 19.00%, while SPY has yielded a comparatively lower 13.98% annualized return.
ULPIX
- 1D
- -0.82%
- 1M
- -15.36%
- YTD
- -15.24%
- 6M
- -12.37%
- 1Y
- 18.93%
- 3Y*
- 23.76%
- 5Y*
- 13.19%
- 10Y*
- 19.00%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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ULPIX vs. SPY - Expense Ratio Comparison
ULPIX has a 1.46% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
ULPIX vs. SPY — Risk / Return Rank
ULPIX
SPY
ULPIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| ULPIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.56 | 0.93 | -0.37 |
Sortino ratioReturn per unit of downside risk | 1.02 | 1.45 | -0.43 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.53 | -0.86 |
Martin ratioReturn relative to average drawdown | 2.89 | 7.30 | -4.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ULPIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 0.93 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.69 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.78 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.56 | -0.35 |
Correlation
The correlation between ULPIX and SPY is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ULPIX vs. SPY - Dividend Comparison
ULPIX's dividend yield for the trailing twelve months is around 10.75%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ULPIX ProFunds UltraBull Fund | 10.75% | 9.11% | 0.00% | 0.02% | 10.36% | 5.62% | 12.74% | 0.42% | 0.58% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
ULPIX vs. SPY - Drawdown Comparison
The maximum ULPIX drawdown since its inception was -89.68%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ULPIX and SPY.
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Drawdown Indicators
| ULPIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.68% | -55.19% | -34.49% |
Max Drawdown (1Y)Largest decline over 1 year | -23.37% | -12.05% | -11.32% |
Max Drawdown (5Y)Largest decline over 5 years | -46.92% | -24.50% | -22.42% |
Max Drawdown (10Y)Largest decline over 10 years | -59.41% | -33.72% | -25.69% |
Current DrawdownCurrent decline from peak | -18.30% | -6.24% | -12.06% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -9.09% | -24.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 2.52% | +2.83% |
Volatility
ULPIX vs. SPY - Volatility Comparison
ProFunds UltraBull Fund (ULPIX) has a higher volatility of 8.48% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that ULPIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULPIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 5.31% | +3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.17% | 9.47% | +8.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.41% | 19.05% | +17.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.84% | 17.06% | +16.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.37% | 17.92% | +17.45% |