UOPIX vs. URPIX
UOPIX (ProFunds UltraNASDAQ-100 Fund) and URPIX (ProFunds UltraBear Fund) are both mutual funds - UOPIX is a Leveraged Equities fund managed by ProFunds, while URPIX is a Inverse Equities fund managed by ProFunds. Over the past 10 years, UOPIX returned 32.98%/yr vs -28.24%/yr for URPIX. At a correlation of -0.86, they often move in opposite directions. UOPIX charges 1.47%/yr vs 1.78%/yr for URPIX.
Performance
UOPIX vs. URPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UOPIX achieves a 29.74% return, which is significantly higher than URPIX's -17.39% return. Over the past 10 years, UOPIX has outperformed URPIX with an annualized return of 32.98%, while URPIX has yielded a comparatively lower -28.24% annualized return.
UOPIX
- 1D
- -0.59%
- 1M
- -3.96%
- 6M
- 27.07%
- YTD
- 29.74%
- 1Y
- 53.06%
- 3Y*
- 39.06%
- 5Y*
- 19.07%
- 10Y*
- 32.98%
URPIX
- 1D
- -0.83%
- 1M
- -1.16%
- 6M
- -15.14%
- YTD
- -17.39%
- 1Y
- -29.15%
- 3Y*
- -28.00%
- 5Y*
- -22.33%
- 10Y*
- -28.24%
UOPIX vs. URPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UOPIX ProFunds UltraNASDAQ-100 Fund | 29.74% | 30.26% | 41.75% | 115.97% | -60.70% | 48.28% | 86.57% | 80.53% | -9.41% | 68.58% |
URPIX ProFunds UltraBear Fund | -17.39% | -27.06% | -32.89% | -31.77% | 29.74% | -43.61% | -51.10% | -42.03% | 4.20% | -32.58% |
Correlation
The correlation between UOPIX and URPIX is -0.93, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1997 | -0.86 |
The correlation between UOPIX and URPIX has been stable across timeframes, ranging from -0.94 to -0.86 - a consistent structural relationship.
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Return for Risk
UOPIX vs. URPIX — Risk / Return Rank
UOPIX
URPIX
UOPIX vs. URPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraNASDAQ-100 Fund (UOPIX) and ProFunds UltraBear Fund (URPIX). 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.
| UOPIX | URPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.62 | ||
| Sortino ratioReturn per unit of downside risk | +3.70 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.81 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | -0.96 | +3.11 |
| Martin ratioReturn relative to average drawdown | 7.05 | -1.71 | +8.77 |
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Drawdowns
UOPIX vs. URPIX - Drawdown Comparison
The maximum UOPIX drawdown since its inception was -99.00%, roughly equal to the maximum URPIX drawdown of -99.92%. Use the drawdown chart below to compare losses from any high point for UOPIX and URPIX.
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Drawdown Indicators
| UOPIX | URPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.00% | -99.92% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -24.97% | -30.79% | +5.82% |
Max Drawdown (3Y)Largest decline over 3 years | -42.52% | -69.89% | +27.37% |
Max Drawdown (5Y)Largest decline over 5 years | -65.01% | -76.97% | +11.96% |
Max Drawdown (10Y)Largest decline over 10 years | -65.01% | -96.59% | +31.58% |
Current DrawdownCurrent decline from peak | -8.89% | -99.92% | +91.03% |
Average DrawdownAverage peak-to-trough decline | -67.45% | -79.14% | +11.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 17.28% | -9.70% |
Volatility
UOPIX vs. URPIX - Volatility Comparison
ProFunds UltraNASDAQ-100 Fund (UOPIX) has a higher volatility of 15.68% compared to ProFunds UltraBear Fund (URPIX) at 7.32%. This indicates that UOPIX's price experiences larger fluctuations and is considered to be riskier than URPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UOPIX | URPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.68% | 7.32% | +8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 30.63% | 20.10% | +10.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.13% | 25.17% | +11.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.89% | 34.05% | +11.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.44% | 35.59% | +8.85% |
UOPIX vs. URPIX - Expense Ratio Comparison
UOPIX has a 1.47% expense ratio, which is lower than URPIX's 1.78% expense ratio.
Dividends
UOPIX vs. URPIX - Dividend Comparison
UOPIX's dividend yield for the trailing twelve months is around 14.08%, more than URPIX's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
UOPIX ProFunds UltraNASDAQ-100 Fund | 14.08% | 18.27% | 0.41% | 0.00% | 5.64% | 11.03% | 9.78% | 5.78% | 6.73% |
URPIX ProFunds UltraBear Fund | 3.30% | 2.73% | 0.00% | 3.02% | 0.00% | 0.00% | 0.47% | 0.00% | 0.00% |
Frequently Asked Questions
UOPIX and URPIX have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UOPIX has higher volatility (15.68%) compared to URPIX (7.32%). In terms of maximum drawdown, UOPIX dropped -99.00% vs URPIX's -99.92%.
UOPIX currently has the higher Sharpe Ratio (1.44 vs -1.18), 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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