URPIX vs. OTPIX
URPIX (ProFunds UltraBear Fund) and OTPIX (ProFunds NASDAQ-100 Fund) are both mutual funds - URPIX is a Inverse Equities fund managed by ProFunds, while OTPIX is a Large Cap Growth Equities fund managed by ProFunds. Over the past 10 years, URPIX returned -28.18%/yr vs 5.24%/yr for OTPIX. At a correlation of -0.88, they often move in opposite directions. URPIX charges 1.78%/yr vs 1.48%/yr for OTPIX.
Performance
URPIX vs. OTPIX - Performance Comparison
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Returns By Period
In the year-to-date period, URPIX achieves a -16.69% return, which is significantly lower than OTPIX's 16.29% return. Over the past 10 years, URPIX has underperformed OTPIX with an annualized return of -28.18%, while OTPIX has yielded a comparatively higher 5.24% annualized return.
URPIX
- 1D
- -0.66%
- 1M
- 0.84%
- 6M
- -14.91%
- YTD
- -16.69%
- 1Y
- -28.97%
- 3Y*
- -27.80%
- 5Y*
- -21.97%
- 10Y*
- -28.18%
OTPIX
- 1D
- 1.09%
- 1M
- -3.25%
- 6M
- 15.36%
- YTD
- 16.29%
- 1Y
- 27.53%
- 3Y*
- -23.11%
- 5Y*
- -11.25%
- 10Y*
- 5.24%
URPIX vs. OTPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URPIX ProFunds UltraBear Fund | -16.69% | -27.06% | -32.89% | -31.77% | 29.74% | -43.61% | -51.10% | -42.03% | 4.20% | -32.58% |
OTPIX ProFunds NASDAQ-100 Fund | 16.29% | 18.08% | -69.20% | 51.66% | -34.36% | 48.75% | 45.00% | 36.58% | -1.75% | 29.45% |
Correlation
The correlation between URPIX and OTPIX 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 | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2000 | -0.88 |
The correlation between URPIX and OTPIX has been stable across timeframes, ranging from -0.93 to -0.88 - a consistent structural relationship.
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Return for Risk
URPIX vs. OTPIX — Risk / Return Rank
URPIX
OTPIX
URPIX vs. OTPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBear Fund (URPIX) and ProFunds NASDAQ-100 Fund (OTPIX). 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.
| URPIX | OTPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.26 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.22 | -3.14 |
| Martin ratioReturn relative to average drawdown | -1.66 | 7.80 | -9.46 |
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Drawdowns
URPIX vs. OTPIX - Drawdown Comparison
The maximum URPIX drawdown since its inception was -99.92%, which is greater than OTPIX's maximum drawdown of -79.55%. Use the drawdown chart below to compare losses from any high point for URPIX and OTPIX.
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Drawdown Indicators
| URPIX | OTPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -79.55% | -20.37% |
Max Drawdown (1Y)Largest decline over 1 year | -30.79% | -12.53% | -18.26% |
Max Drawdown (3Y)Largest decline over 3 years | -69.89% | -79.55% | +9.66% |
Max Drawdown (5Y)Largest decline over 5 years | -76.97% | -79.55% | +2.58% |
Max Drawdown (10Y)Largest decline over 10 years | -96.59% | -79.55% | -17.04% |
Current DrawdownCurrent decline from peak | -99.92% | -65.34% | -34.58% |
Average DrawdownAverage peak-to-trough decline | -79.14% | -22.98% | -56.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.17% | 3.55% | +13.62% |
Volatility
URPIX vs. OTPIX - Volatility Comparison
The current volatility for ProFunds UltraBear Fund (URPIX) is 7.34%, while ProFunds NASDAQ-100 Fund (OTPIX) has a volatility of 7.82%. This indicates that URPIX experiences smaller price fluctuations and is considered to be less risky than OTPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URPIX | OTPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.34% | 7.82% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 20.09% | 15.26% | +4.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.16% | 18.53% | +6.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.05% | 41.97% | -7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.59% | 33.32% | +2.27% |
URPIX vs. OTPIX - Expense Ratio Comparison
URPIX has a 1.78% expense ratio, which is higher than OTPIX's 1.48% expense ratio.
Dividends
URPIX vs. OTPIX - Dividend Comparison
URPIX's dividend yield for the trailing twelve months is around 3.27%, more than OTPIX's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OTPIX ProFunds NASDAQ-100 Fund | 1.48% | 1.72% | 0.76% | 0.00% | 0.00% | 18.31% | 1.10% | 0.87% |
URPIX ProFunds UltraBear Fund | 3.27% | 2.73% | 0.00% | 3.02% | 0.00% | 0.00% | 0.47% | 0.00% |
Frequently Asked Questions
URPIX and OTPIX 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.
OTPIX has higher volatility (7.82%) compared to URPIX (7.34%). In terms of maximum drawdown, URPIX dropped -99.92% vs OTPIX's -79.55%.
OTPIX currently has the higher Sharpe Ratio (1.50 vs -1.13), 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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