UPAAX vs. UPUPX

Last updated Aug 1, 2026

UPAAX (Upright Assets Allocation Plus Fund) and UPUPX (Upright Growth Fund) are both mutual funds - UPAAX is a Tactical Allocation fund managed by Upright Investments Trust, while UPUPX is a Technology Equities fund managed by Upright Investments Trust. Their 0.97 correlation means they have historically moved very closely together. UPAAX charges 2.49%/yr vs 2.09%/yr for UPUPX.

Performance

UPAAX vs. UPUPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Upright Assets Allocation Plus Fund (UPAAX) and Upright Growth Fund (UPUPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UPAAX

• 1D: 2.80%
• 1M: -2.43%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

UPUPX

• 1D: 3.95%
• 1M: -2.86%
• 6M: 21.30%
• YTD: 27.06%
• 1Y: 46.59%
• 3Y*: 23.55%
• 5Y*: 5.80%
• 10Y*: 5.33%
• ALL TIME*: 3.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
UPAAX Upright Assets Allocation Plus Fund	$0.00	$0.00	$0.00
UPUPX Upright Growth Fund	$0.00	$0.00	$0.00

UPAAX vs. UPUPX - Yearly Performance Comparison

	2026 (YTD)
UPAAX Upright Assets Allocation Plus Fund	-9.19%
UPUPX Upright Growth Fund	-15.60%

Correlation

The correlation between UPAAX and UPUPX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.97

Return for Risk

UPAAX vs. UPUPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UPAAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UPUPX

UPUPX Risk / Return Rank: 44
UPUPX Sharpe Ratio Rank: 48
UPUPX Sortino Ratio Rank: 44
UPUPX Omega Ratio Rank: 45
UPUPX Calmar Ratio Rank: 43
UPUPX Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UPAAX vs. UPUPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Upright Assets Allocation Plus Fund (UPAAX) and Upright Growth Fund (UPUPX). 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.

	UPAAX	UPUPX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.33	—
Sortino ratio: Return per unit of downside risk	—	1.85	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.73	—
Martin ratio: Return relative to average drawdown	—	5.66	—

Drawdowns

UPAAX vs. UPUPX - Drawdown Comparison

The maximum UPAAX drawdown since its inception was -14.95%, smaller than the maximum UPUPX drawdown of -78.77%. Use the drawdown chart below to compare losses from any high point for UPAAX and UPUPX.

Drawdown Indicators

	UPAAX	UPUPX	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-78.77%	+63.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-49.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.55%	—
Current Drawdown Current decline from peak	-12.57%	-21.30%	+8.73%
Average Drawdown Average peak-to-trough decline	-8.48%	-32.01%	+23.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.46%	—

Volatility

Volatility by Period

	UPAAX	UPUPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	26.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.85%	31.73%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.85%	31.35%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.85%	34.37%	-6.52%

UPAAX vs. UPUPX - Expense Ratio Comparison

UPAAX has a 2.49% expense ratio, which is higher than UPUPX's 2.09% expense ratio.

Dividends

UPAAX vs. UPUPX - Dividend Comparison

UPAAX has not paid dividends to shareholders, while UPUPX's dividend yield for the trailing twelve months is around 6.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UPAAX Upright Assets Allocation Plus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UPUPX Upright Growth Fund	6.65%	8.45%	0.00%	2.12%	1.33%	3.85%	0.00%	0.00%	0.00%	3.53%	21.87%	5.39%

Frequently Asked Questions

Can I hold both UPAAX and UPUPX in my portfolio?

With a correlation of 0.97, UPAAX and UPUPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.