USPIX vs. UTPIX

Last updated Jul 17, 2026

USPIX (ProFunds UltraShort NASDAQ-100 Fund) and UTPIX (ProFunds Utilities UltraSector Fund) are both mutual funds - USPIX is a Inverse Equities fund managed by ProFunds, while UTPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, USPIX returned -39.42%/yr vs 8.36%/yr for UTPIX. At a correlation of -0.37, they often move in opposite directions. USPIX charges 1.68%/yr vs 1.73%/yr for UTPIX.

Performance

USPIX vs. UTPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, USPIX achieves a -28.74% return, which is significantly lower than UTPIX's 7.83% return. Over the past 10 years, USPIX has underperformed UTPIX with an annualized return of -39.42%, while UTPIX has yielded a comparatively higher 8.36% annualized return.

USPIX

• 1D: 0.62%
• 1M: 2.53%
• 6M: -27.23%
• YTD: -28.74%
• 1Y: -40.62%
• 3Y*: -37.05%
• 5Y*: -31.48%
• 10Y*: -39.42%

UTPIX

• 1D: -1.48%
• 1M: 1.20%
• 6M: 4.63%
• YTD: 7.83%
• 1Y: 14.43%
• 3Y*: 14.79%
• 5Y*: 8.95%
• 10Y*: 8.36%

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

USPIX vs. UTPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USPIX ProFunds UltraShort NASDAQ-100 Fund	-28.74%	-35.26%	-38.20%	-57.06%	61.80%	-46.20%	-70.91%	-50.15%	-9.56%	-44.56%
UTPIX ProFunds Utilities UltraSector Fund	7.83%	19.28%	27.74%	-15.46%	-2.31%	23.33%	-8.87%	34.24%	2.30%	15.83%

Correlation

The correlation between USPIX and UTPIX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	-0.22
Correlation (10Y) Calculated over the trailing 10-year period	-0.23
Correlation (All Time) Calculated using the full available price history since Jul 26, 2000	-0.37

Over the past year, the inverse relationship between USPIX and UTPIX has weakened: their correlation has moved from -0.37 to -0.01, meaning they move in opposite directions less often than they have historically.

Return for Risk

USPIX vs. UTPIX — 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

UTPIX

UTPIX Risk / Return Rank: 11
UTPIX Sharpe Ratio Rank: 10
UTPIX Sortino Ratio Rank: 11
UTPIX Omega Ratio Rank: 10
UTPIX Calmar Ratio Rank: 14
UTPIX Martin Ratio Rank: 9

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. UTPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort NASDAQ-100 Fund (USPIX) and ProFunds Utilities UltraSector Fund (UTPIX). 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	UTPIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	0.64	-1.75
Sortino ratio: Return per unit of downside risk	-1.71	1.00	-2.71
Omega ratio: Gain probability vs. loss probability	0.82	1.12	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.91	0.98	-1.89
Martin ratio: Return relative to average drawdown	-1.75	2.00	-3.75

USPIX vs. UTPIX - Sharpe Ratio Comparison

The current USPIX Sharpe Ratio is -1.10, which is lower than the UTPIX Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of USPIX and UTPIX, 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. UTPIX - Drawdown Comparison

The maximum USPIX drawdown since its inception was -100.00%, which is greater than UTPIX's maximum drawdown of -73.56%. Use the drawdown chart below to compare losses from any high point for USPIX and UTPIX.

Drawdown Indicators

	USPIX	UTPIX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-73.56%	-26.44%
Max Drawdown (1Y) Largest decline over 1 year	-45.06%	-14.82%	-30.24%
Max Drawdown (3Y) Largest decline over 3 years	-80.96%	-25.70%	-55.26%
Max Drawdown (5Y) Largest decline over 5 years	-89.53%	-38.73%	-50.80%
Max Drawdown (10Y) Largest decline over 10 years	-99.37%	-50.82%	-48.55%
Current Drawdown Current decline from peak	-100.00%	-8.05%	-91.95%
Average Drawdown Average peak-to-trough decline	-96.44%	-21.84%	-74.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.30%	7.28%	+16.02%

Volatility

USPIX vs. UTPIX - Volatility Comparison

ProFunds UltraShort NASDAQ-100 Fund (USPIX) has a higher volatility of 15.59% compared to ProFunds Utilities UltraSector Fund (UTPIX) at 6.84%. This indicates that USPIX's price experiences larger fluctuations and is considered to be riskier than UTPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USPIX	UTPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.59%	6.84%	+8.75%
Volatility (6M) Calculated over the trailing 6-month period	30.47%	18.05%	+12.42%
Volatility (1Y) Calculated over the trailing 1-year period	37.07%	22.69%	+14.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.96%	26.07%	+19.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.63%	29.11%	+15.52%

USPIX vs. UTPIX - Expense Ratio Comparison

USPIX has a 1.68% expense ratio, which is lower than UTPIX's 1.73% expense ratio.

Dividends

USPIX vs. UTPIX - Dividend Comparison

USPIX's dividend yield for the trailing twelve months is around 3.80%, more than UTPIX's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USPIX ProFunds UltraShort NASDAQ-100 Fund	3.80%	2.71%	0.00%	5.92%	0.00%	0.00%	0.07%	0.36%	0.00%	0.00%	0.00%	0.00%
UTPIX ProFunds Utilities UltraSector Fund	0.72%	0.77%	0.00%	1.74%	0.97%	0.20%	0.58%	1.72%	0.66%	0.74%	0.83%	1.41%

Frequently Asked Questions

Can I hold both USPIX and UTPIX in my portfolio?

USPIX and UTPIX have a correlation of -0.01, 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 UTPIX?

USPIX has higher volatility (15.59%) compared to UTPIX (6.84%). In terms of maximum drawdown, USPIX dropped -100.00% vs UTPIX's -73.56%.

Which has better risk-adjusted returns?

UTPIX currently has the higher Sharpe Ratio (0.64 vs -1.10), 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.