UOPIX vs. UVPIX

Last updated Jun 25, 2026

UOPIX (ProFunds UltraNASDAQ-100 Fund) and UVPIX (ProFunds Ultra Short Emerging Market Fund) are both mutual funds - UOPIX is a Leveraged Equities fund managed by ProFunds, while UVPIX is a Inverse Equities fund managed by ProFunds. Over the past 10 years, UOPIX returned 34.74%/yr vs -27.55%/yr for UVPIX. At a correlation of -0.70, they often move in opposite directions. UOPIX charges 1.47%/yr vs 1.78%/yr for UVPIX.

Performance

UOPIX vs. UVPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraNASDAQ-100 Fund (UOPIX) and ProFunds Ultra Short Emerging Market Fund (UVPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UOPIX achieves a 29.15% return, which is significantly higher than UVPIX's -8.81% return. Over the past 10 years, UOPIX has outperformed UVPIX with an annualized return of 34.74%, while UVPIX has yielded a comparatively lower -27.55% annualized return.

UOPIX

• 1D: -6.59%
• 1M: -2.12%
• YTD: 29.15%
• 6M: 24.98%
• 1Y: 61.70%
• 3Y*: 42.75%
• 5Y*: 19.97%
• 10Y*: 34.74%

UVPIX

• 1D: 6.02%
• 1M: 4.99%
• YTD: -8.81%
• 6M: -7.80%
• 1Y: -33.56%
• 3Y*: -31.12%
• 5Y*: -17.79%
• 10Y*: -27.55%

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

UOPIX vs. UVPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UOPIX ProFunds UltraNASDAQ-100 Fund	29.15%	30.26%	41.75%	115.97%	-60.70%	48.28%	86.57%	80.53%	-9.41%	68.58%
UVPIX ProFunds Ultra Short Emerging Market Fund	-8.81%	-49.90%	-17.67%	-27.06%	1.35%	15.70%	-57.91%	-39.81%	20.65%	-48.37%

Correlation

The correlation between UOPIX and UVPIX is -0.67, 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	-0.67
Correlation (3Y) Calculated over the trailing 3-year period	-0.64
Correlation (5Y) Calculated over the trailing 5-year period	-0.66
Correlation (10Y) Calculated over the trailing 10-year period	-0.68
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006	-0.70

The correlation between UOPIX and UVPIX has been stable across timeframes, ranging from -0.70 to -0.64 - a consistent structural relationship.

Return for Risk

UOPIX vs. UVPIX — Risk / Return Rank

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

UOPIX

UOPIX Risk / Return Rank: 45
UOPIX Sharpe Ratio Rank: 48
UOPIX Sortino Ratio Rank: 37
UOPIX Omega Ratio Rank: 39
UOPIX Calmar Ratio Rank: 55
UOPIX Martin Ratio Rank: 47

UVPIX

UVPIX Risk / Return Rank: 1
UVPIX Sharpe Ratio Rank: 1
UVPIX Sortino Ratio Rank: 1
UVPIX Omega Ratio Rank: 1
UVPIX Calmar Ratio Rank: 0
UVPIX Martin Ratio Rank: 1

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.

UOPIX vs. UVPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraNASDAQ-100 Fund (UOPIX) and ProFunds Ultra Short Emerging Market Fund (UVPIX). 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	UVPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	-0.86	+2.72
Sortino ratio: Return per unit of downside risk	2.32	-1.16	+3.48
Omega ratio: Gain probability vs. loss probability	1.31	0.87	+0.44
Calmar ratio: Return relative to maximum drawdown	2.68	-0.84	+3.53
Martin ratio: Return relative to average drawdown	9.17	-1.23	+10.40

UOPIX vs. UVPIX - Sharpe Ratio Comparison

The current UOPIX Sharpe Ratio is 1.86, which is higher than the UVPIX Sharpe Ratio of -0.86. The chart below compares the historical Sharpe Ratios of UOPIX and UVPIX, 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

UOPIX vs. UVPIX - Drawdown Comparison

The maximum UOPIX drawdown since its inception was -99.00%, roughly equal to the maximum UVPIX drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for UOPIX and UVPIX.

Drawdown Indicators

	UOPIX	UVPIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.00%	-99.86%	+0.86%
Max Drawdown (1Y) Largest decline over 1 year	-24.97%	-43.77%	+18.80%
Max Drawdown (3Y) Largest decline over 3 years	-42.52%	-75.41%	+32.89%
Max Drawdown (5Y) Largest decline over 5 years	-65.01%	-83.54%	+18.53%
Max Drawdown (10Y) Largest decline over 10 years	-65.01%	-96.71%	+31.70%
Current Drawdown Current decline from peak	-9.31%	-99.84%	+90.53%
Average Drawdown Average peak-to-trough decline	-67.58%	-89.50%	+21.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.28%	32.43%	-25.15%

Volatility

UOPIX vs. UVPIX - Volatility Comparison

ProFunds UltraNASDAQ-100 Fund (UOPIX) has a higher volatility of 18.24% compared to ProFunds Ultra Short Emerging Market Fund (UVPIX) at 15.32%. This indicates that UOPIX's price experiences larger fluctuations and is considered to be riskier than UVPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UOPIX	UVPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.24%	15.32%	+2.92%
Volatility (6M) Calculated over the trailing 6-month period	29.17%	35.36%	-6.19%
Volatility (1Y) Calculated over the trailing 1-year period	36.01%	43.21%	-7.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.69%	48.24%	-2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.40%	46.51%	-2.11%

UOPIX vs. UVPIX - Expense Ratio Comparison

UOPIX has a 1.47% expense ratio, which is lower than UVPIX's 1.78% expense ratio.

Dividends

UOPIX vs. UVPIX - Dividend Comparison

UOPIX's dividend yield for the trailing twelve months is around 14.15%, more than UVPIX's 9.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
UOPIX ProFunds UltraNASDAQ-100 Fund	14.15%	18.27%	0.41%	0.00%	5.64%	11.03%	9.78%	5.78%	6.73%
UVPIX ProFunds Ultra Short Emerging Market Fund	9.86%	8.99%	0.00%	7.25%	0.00%	0.00%	0.00%	0.49%	0.00%

Frequently Asked Questions

Can I hold both UOPIX and UVPIX in my portfolio?

UOPIX and UVPIX have a correlation of -0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UOPIX or UVPIX?

UOPIX has higher volatility (18.24%) compared to UVPIX (15.32%). In terms of maximum drawdown, UOPIX dropped -99.00% vs UVPIX's -99.86%.

Which has better risk-adjusted returns?

UOPIX currently has the higher Sharpe Ratio (1.86 vs -0.86), 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.