UPUPX vs. UPAAX

Last updated Jun 4, 2026

UPUPX (Upright Growth Fund) and UPAAX (Upright Assets Allocation Plus Fund) are both mutual funds - UPUPX is a Technology Equities fund managed by Upright Investments Trust, while UPAAX is a Tactical Allocation fund managed by Upright Investments Trust. With a 1.00 correlation, they move nearly in lockstep. UPUPX charges 2.09%/yr vs 2.49%/yr for UPAAX.

Performance

UPUPX vs. UPAAX - Performance Comparison

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

Returns By Period

UPUPX

• 1D: 4.14%
• 1M: 32.17%
• YTD: 61.45%
• 6M: 63.25%
• 1Y: 99.34%
• 3Y*: 36.84%
• 5Y*: 11.94%
• 10Y*: 8.11%

UPAAX

• 1D: 2.35%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UPUPX vs. UPAAX - Yearly Performance Comparison

	2026 (YTD)
UPUPX Upright Growth Fund	6.71%
UPAAX Upright Assets Allocation Plus Fund	3.87%

Correlation

The correlation between UPUPX and UPAAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	1.00

Return for Risk

UPUPX vs. UPAAX — Risk / Return Rank

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

UPUPX

UPUPX Risk / Return Rank: 94
UPUPX Sharpe Ratio Rank: 98
UPUPX Sortino Ratio Rank: 90
UPUPX Omega Ratio Rank: 86
UPUPX Calmar Ratio Rank: 98
UPUPX Martin Ratio Rank: 97

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.

UPUPX vs. UPAAX - Risk-Adjusted Trends Comparison

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

	UPUPX	UPAAX	Difference
Sharpe ratio: Return per unit of total volatility	3.77	—	—
Sortino ratio: Return per unit of downside risk	4.44	—	—
Omega ratio: Gain probability vs. loss probability	1.59	—	—
Calmar ratio: Return relative to maximum drawdown	8.49	—	—
Martin ratio: Return relative to average drawdown	27.68	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UPUPX	UPAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	132.47	-132.31

Drawdowns

UPUPX vs. UPAAX - Drawdown Comparison

The maximum UPUPX drawdown since its inception was -78.77%, which is greater than UPAAX's maximum drawdown of -0.25%. Use the drawdown chart below to compare losses from any high point for UPUPX and UPAAX.

Drawdown Indicators

	UPUPX	UPAAX	Difference
Max Drawdown Largest peak-to-trough decline	-78.77%	-0.25%	-78.52%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	—	—
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-32.10%	-0.08%	-32.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	—	—

Volatility

Volatility by Period

	UPUPX	UPAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.94%	21.58%	+5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.15%	21.58%	+9.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.96%	21.58%	+12.38%

UPUPX vs. UPAAX - Expense Ratio Comparison

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

Dividends

UPUPX vs. UPAAX - Dividend Comparison

UPUPX's dividend yield for the trailing twelve months is around 5.23%, while UPAAX has not paid dividends to shareholders.

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	5.23%	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 UPUPX and UPAAX in my portfolio?

With a correlation of 1.00, UPUPX and UPAAX 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.