USPIX vs. SOPIX
USPIX (ProFunds UltraShort NASDAQ-100 Fund) and SOPIX (ProFunds Short NASDAQ-100 Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, USPIX returned -40.20%/yr vs -20.82%/yr for SOPIX. With a 0.99 correlation, they move nearly in lockstep. USPIX charges 1.68%/yr vs 1.78%/yr for SOPIX.
Performance
USPIX vs. SOPIX - Performance Comparison
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Returns By Period
In the year-to-date period, USPIX achieves a -27.80% return, which is significantly lower than SOPIX's -13.62% return. Over the past 10 years, USPIX has underperformed SOPIX with an annualized return of -40.20%, while SOPIX has yielded a comparatively higher -20.82% 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%
SOPIX
- 1D
- 3.33%
- 1M
- 0.17%
- YTD
- -13.62%
- 6M
- -12.17%
- 1Y
- -22.46%
- 3Y*
- -20.43%
- 5Y*
- -15.31%
- 10Y*
- -20.82%
USPIX vs. SOPIX - 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% |
SOPIX ProFunds Short NASDAQ-100 Fund | -13.62% | -15.80% | -23.82% | -31.85% | 34.73% | -25.69% | -42.92% | -28.29% | -3.07% | -25.24% |
Correlation
The correlation between USPIX and SOPIX 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 | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | 0.99 |
The correlation between USPIX and SOPIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
USPIX vs. SOPIX — Risk / Return Rank
USPIX
SOPIX
USPIX vs. SOPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort NASDAQ-100 Fund (USPIX) and ProFunds Short NASDAQ-100 Fund (SOPIX). 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 | SOPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.79 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.93 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.90 | -1.98 | +0.08 |
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Drawdowns
USPIX vs. SOPIX - Drawdown Comparison
The maximum USPIX drawdown since its inception was -100.00%, roughly equal to the maximum SOPIX drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for USPIX and SOPIX.
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Drawdown Indicators
| USPIX | SOPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.07% | -0.93% |
Max Drawdown (1Y)Largest decline over 1 year | -47.13% | -25.30% | -21.83% |
Max Drawdown (3Y)Largest decline over 3 years | -80.96% | -54.87% | -26.09% |
Max Drawdown (5Y)Largest decline over 5 years | -89.53% | -65.00% | -24.53% |
Max Drawdown (10Y)Largest decline over 10 years | -99.48% | -90.86% | -8.62% |
Current DrawdownCurrent decline from peak | -100.00% | -99.03% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -96.43% | -76.18% | -20.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.69% | 13.05% | +12.64% |
Volatility
USPIX vs. SOPIX - Volatility Comparison
ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a higher volatility of 17.82% compared to ProFunds Short NASDAQ-100 Fund (SOPIX) at 8.97%. This indicates that USPIX's price experiences larger fluctuations and is considered to be riskier than SOPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USPIX | SOPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.82% | 8.97% | +8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 29.00% | 14.48% | +14.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.99% | 17.96% | +18.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.76% | 23.66% | +22.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.59% | 22.61% | +21.98% |
USPIX vs. SOPIX - Expense Ratio Comparison
USPIX has a 1.68% expense ratio, which is lower than SOPIX's 1.78% expense ratio.
Dividends
USPIX vs. SOPIX - Dividend Comparison
USPIX's dividend yield for the trailing twelve months is around 3.75%, more than SOPIX's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SOPIX ProFunds Short NASDAQ-100 Fund | 2.48% | 2.14% | 0.00% | 6.71% | 0.00% | 0.00% | 0.00% | 0.29% |
USPIX ProFunds UltraShort NASDAQ-100 Fund | 3.75% | 2.71% | 0.00% | 5.92% | 0.00% | 0.00% | 0.07% | 0.36% |
Frequently Asked Questions
With a correlation of 1.00, USPIX and SOPIX 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.
USPIX has higher volatility (17.82%) compared to SOPIX (8.97%). In terms of maximum drawdown, USPIX dropped -100.00% vs SOPIX's -99.07%.
USPIX currently has the higher Sharpe Ratio (-1.25 vs -1.32), 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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