URPIX vs. RYURX
URPIX (ProFunds UltraBear Fund) and RYURX (Rydex Inverse S&P 500 Strategy Fund) are both Inverse Equities funds. Over the past 10 years, URPIX returned -28.75%/yr vs -13.00%/yr for RYURX. With a 0.99 correlation, they move nearly in lockstep. URPIX charges 1.78%/yr vs 1.49%/yr for RYURX.
Performance
URPIX vs. RYURX - Performance Comparison
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Returns By Period
In the year-to-date period, URPIX achieves a -16.13% return, which is significantly lower than RYURX's -7.37% return. Over the past 10 years, URPIX has underperformed RYURX with an annualized return of -28.75%, while RYURX has yielded a comparatively higher -13.00% annualized return.
URPIX
- 1D
- -2.11%
- 1M
- -0.82%
- YTD
- -16.13%
- 6M
- -15.07%
- 1Y
- -34.34%
- 3Y*
- -28.52%
- 5Y*
- -23.35%
- 10Y*
- -28.75%
RYURX
- 1D
- -1.03%
- 1M
- -0.23%
- YTD
- -7.37%
- 6M
- -6.79%
- 1Y
- -16.95%
- 3Y*
- -11.82%
- 5Y*
- -9.29%
- 10Y*
- -13.00%
URPIX vs. RYURX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URPIX ProFunds UltraBear Fund | -16.13% | -27.06% | -32.89% | -31.77% | 29.74% | -43.61% | -51.10% | -42.03% | 4.20% | -32.58% |
RYURX Rydex Inverse S&P 500 Strategy Fund | -7.37% | -11.41% | -13.04% | -14.56% | 17.56% | -24.19% | -24.90% | -22.65% | 4.33% | -17.38% |
Correlation
The correlation between URPIX and RYURX 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 (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1997 | 0.99 |
The correlation between URPIX and RYURX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
URPIX vs. RYURX — Risk / Return Rank
URPIX
RYURX
URPIX vs. RYURX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBear Fund (URPIX) and Rydex Inverse S&P 500 Strategy Fund (RYURX). 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 | RYURX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.79 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.92 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.59 | -1.63 | +0.03 |
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Drawdowns
URPIX vs. RYURX - Drawdown Comparison
The maximum URPIX drawdown since its inception was -99.92%, roughly equal to the maximum RYURX drawdown of -96.72%. Use the drawdown chart below to compare losses from any high point for URPIX and RYURX.
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Drawdown Indicators
| URPIX | RYURX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -96.72% | -3.20% |
Max Drawdown (1Y)Largest decline over 1 year | -34.91% | -17.40% | -17.51% |
Max Drawdown (3Y)Largest decline over 3 years | -69.89% | -38.48% | -31.41% |
Max Drawdown (5Y)Largest decline over 5 years | -76.97% | -44.10% | -32.87% |
Max Drawdown (10Y)Largest decline over 10 years | -96.96% | -76.43% | -20.53% |
Current DrawdownCurrent decline from peak | -99.92% | -96.67% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -79.09% | -68.95% | -10.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.38% | 10.30% | +11.08% |
Volatility
URPIX vs. RYURX - Volatility Comparison
ProFunds UltraBear Fund (URPIX) has a higher volatility of 9.55% compared to Rydex Inverse S&P 500 Strategy Fund (RYURX) at 4.72%. This indicates that URPIX's price experiences larger fluctuations and is considered to be riskier than RYURX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URPIX | RYURX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 4.72% | +4.83% |
Volatility (6M)Calculated over the trailing 6-month period | 19.94% | 9.85% | +10.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.02% | 12.40% | +12.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.02% | 17.09% | +16.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.71% | 18.14% | +17.57% |
URPIX vs. RYURX - Expense Ratio Comparison
URPIX has a 1.78% expense ratio, which is higher than RYURX's 1.49% expense ratio.
Dividends
URPIX vs. RYURX - Dividend Comparison
URPIX's dividend yield for the trailing twelve months is around 3.25%, less than RYURX's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RYURX Rydex Inverse S&P 500 Strategy Fund | 4.12% | 3.82% | 6.78% | 2.79% | 0.00% | 0.00% | 0.42% | 0.86% |
URPIX ProFunds UltraBear Fund | 3.25% | 2.73% | 0.00% | 3.02% | 0.00% | 0.00% | 0.47% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, URPIX and RYURX 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.
URPIX has higher volatility (9.55%) compared to RYURX (4.72%). In terms of maximum drawdown, URPIX dropped -99.92% vs RYURX's -96.72%.
RYURX currently has the higher Sharpe Ratio (-1.35 vs -1.37), 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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