USPIX vs. CNPIX

Last updated Jun 25, 2026

USPIX (ProFunds UltraShort NASDAQ-100 Fund) and CNPIX (ProFunds Consumer Goods UltraSector Fund) are both mutual funds - USPIX is a Inverse Equities fund managed by ProFunds, while CNPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, USPIX returned -40.20%/yr vs 14.27%/yr for CNPIX. At a correlation of -0.66, they often move in opposite directions. USPIX charges 1.68%/yr vs 1.78%/yr for CNPIX.

Performance

USPIX vs. CNPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraShort NASDAQ-100 Fund (USPIX) and ProFunds Consumer Goods UltraSector Fund (CNPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USPIX achieves a -27.80% return, which is significantly lower than CNPIX's 10.88% return. Over the past 10 years, USPIX has underperformed CNPIX with an annualized return of -40.20%, while CNPIX has yielded a comparatively higher 14.27% annualized return.

USPIX

• 1D: 6.59%
• 1M: -0.69%
• YTD: -27.80%
• 6M: -25.33%
• 1Y: -43.25%
• 3Y*: -38.54%
• 5Y*: -31.94%
• 10Y*: -40.20%

CNPIX

• 1D: 2.77%
• 1M: -1.40%
• YTD: 10.88%
• 6M: 9.85%
• 1Y: 2.95%
• 3Y*: 4.96%
• 5Y*: -1.20%
• 10Y*: 14.27%

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

USPIX vs. CNPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USPIX ProFunds UltraShort NASDAQ-100 Fund	-27.80%	-35.26%	-38.20%	-57.06%	61.80%	-46.20%	-70.91%	-50.15%	-9.56%	-44.56%
CNPIX ProFunds Consumer Goods UltraSector Fund	10.88%	-3.43%	12.77%	2.93%	-36.57%	26.52%	188.12%	40.51%	-22.66%	20.89%

Correlation

The correlation between USPIX and CNPIX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.43
Correlation (10Y) Calculated over the trailing 10-year period	-0.53
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	-0.66

The correlation between USPIX and CNPIX shifts across timeframes, from -0.66 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

USPIX vs. CNPIX — Risk / Return Rank

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

USPIX

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

CNPIX

CNPIX Risk / Return Rank: 4
CNPIX Sharpe Ratio Rank: 4
CNPIX Sortino Ratio Rank: 4
CNPIX Omega Ratio Rank: 4
CNPIX Calmar Ratio Rank: 4
CNPIX Martin Ratio Rank: 4

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.

USPIX vs. CNPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort NASDAQ-100 Fund (USPIX) and ProFunds Consumer Goods UltraSector Fund (CNPIX). 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.

	USPIX	CNPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.25	0.14	-1.40
Sortino ratio: Return per unit of downside risk	-2.05	0.34	-2.40
Omega ratio: Gain probability vs. loss probability	0.78	1.04	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.95	0.19	-1.15
Martin ratio: Return relative to average drawdown	-1.90	0.34	-2.24

USPIX vs. CNPIX - Sharpe Ratio Comparison

The current USPIX Sharpe Ratio is -1.25, which is lower than the CNPIX Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of USPIX and CNPIX, 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

USPIX vs. CNPIX - Drawdown Comparison

The maximum USPIX drawdown since its inception was -100.00%, which is greater than CNPIX's maximum drawdown of -60.04%. Use the drawdown chart below to compare losses from any high point for USPIX and CNPIX.

Drawdown Indicators

	USPIX	CNPIX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-60.04%	-39.96%
Max Drawdown (1Y) Largest decline over 1 year	-47.13%	-14.47%	-32.66%
Max Drawdown (3Y) Largest decline over 3 years	-80.96%	-19.04%	-61.92%
Max Drawdown (5Y) Largest decline over 5 years	-89.53%	-45.40%	-44.13%
Max Drawdown (10Y) Largest decline over 10 years	-99.48%	-46.56%	-52.92%
Current Drawdown Current decline from peak	-100.00%	-25.19%	-74.81%
Average Drawdown Average peak-to-trough decline	-96.43%	-12.97%	-83.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.69%	8.26%	+17.43%

Volatility

USPIX vs. CNPIX - Volatility Comparison

ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a higher volatility of 17.82% compared to ProFunds Consumer Goods UltraSector Fund (CNPIX) at 7.69%. This indicates that USPIX's price experiences larger fluctuations and is considered to be riskier than CNPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USPIX	CNPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.82%	7.69%	+10.13%
Volatility (6M) Calculated over the trailing 6-month period	29.00%	15.73%	+13.27%
Volatility (1Y) Calculated over the trailing 1-year period	35.99%	19.56%	+16.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.76%	23.83%	+21.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.59%	40.44%	+4.15%

USPIX vs. CNPIX - Expense Ratio Comparison

USPIX has a 1.68% expense ratio, which is lower than CNPIX's 1.78% expense ratio.

Dividends

USPIX vs. CNPIX - Dividend Comparison

USPIX's dividend yield for the trailing twelve months is around 3.75%, more than CNPIX's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNPIX ProFunds Consumer Goods UltraSector Fund	0.54%	0.60%	1.55%	1.59%	0.00%	1.45%	0.00%	2.77%	1.64%	0.07%	0.00%	0.50%
USPIX ProFunds UltraShort NASDAQ-100 Fund	3.75%	2.71%	0.00%	5.92%	0.00%	0.00%	0.07%	0.36%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USPIX and CNPIX in my portfolio?

USPIX and CNPIX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USPIX or CNPIX?

USPIX has higher volatility (17.82%) compared to CNPIX (7.69%). In terms of maximum drawdown, USPIX dropped -100.00% vs CNPIX's -60.04%.

Which has better risk-adjusted returns?

CNPIX currently has the higher Sharpe Ratio (0.14 vs -1.25), 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.