UTPIX vs. UAPIX

Last updated Jun 3, 2026

UTPIX (ProFunds Utilities UltraSector Fund) and UAPIX (ProFunds UltraSmall Cap Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UTPIX returned 8.20%/yr vs 11.02%/yr for UAPIX. At a 0.45 correlation, their price movements are largely independent. UTPIX charges 1.73%/yr vs 1.60%/yr for UAPIX.

Performance

UTPIX vs. UAPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, UTPIX achieves a -0.11% return, which is significantly lower than UAPIX's 32.68% return. Over the past 10 years, UTPIX has underperformed UAPIX with an annualized return of 8.20%, while UAPIX has yielded a comparatively higher 11.02% annualized return.

UTPIX

• 1D: -4.62%
• 1M: -11.48%
• YTD: -0.11%
• 6M: -3.59%
• 1Y: 7.13%
• 3Y*: 13.59%
• 5Y*: 7.97%
• 10Y*: 8.20%

UAPIX

• 1D: -0.97%
• 1M: 6.12%
• YTD: 32.68%
• 6M: 33.94%
• 1Y: 82.84%
• 3Y*: 24.55%
• 5Y*: 1.17%
• 10Y*: 11.02%

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

UTPIX vs. UAPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTPIX ProFunds Utilities UltraSector Fund	-0.11%	19.28%	27.74%	-15.46%	-2.31%	23.33%	-8.87%	34.24%	2.30%	15.83%
UAPIX ProFunds UltraSmall Cap Fund	32.68%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%

Correlation

The correlation between UTPIX and UAPIX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 27, 2000	0.45

The correlation between UTPIX and UAPIX shifts across timeframes, from 0.26 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UTPIX vs. UAPIX — Risk / Return Rank

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

UTPIX

UTPIX Risk / Return Rank: 5
UTPIX Sharpe Ratio Rank: 5
UTPIX Sortino Ratio Rank: 5
UTPIX Omega Ratio Rank: 5
UTPIX Calmar Ratio Rank: 6
UTPIX Martin Ratio Rank: 5

UAPIX

UAPIX Risk / Return Rank: 56
UAPIX Sharpe Ratio Rank: 55
UAPIX Sortino Ratio Rank: 44
UAPIX Omega Ratio Rank: 38
UAPIX Calmar Ratio Rank: 80
UAPIX Martin Ratio Rank: 64

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.

UTPIX vs. UAPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Utilities UltraSector Fund (UTPIX) and ProFunds UltraSmall Cap Fund (UAPIX). 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.

	UTPIX	UAPIX	Difference
Sharpe ratio Return per unit of total volatility	0.34	2.20	-1.85
Sortino ratio Return per unit of downside risk	0.61	2.79	-2.18
Omega ratio Gain probability vs. loss probability	1.08	1.33	-0.25
Calmar ratio Return relative to maximum drawdown	0.63	3.67	-3.05
Martin ratio Return relative to average drawdown	1.42	12.56	-11.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTPIX vs. UAPIX - Sharpe Ratio Comparison

The current UTPIX Sharpe Ratio is 0.34, which is lower than the UAPIX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of UTPIX and UAPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UTPIX	UAPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	2.20	-1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.03	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.24	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.10	+0.14

Drawdowns

UTPIX vs. UAPIX - Drawdown Comparison

The maximum UTPIX drawdown since its inception was -73.56%, smaller than the maximum UAPIX drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for UTPIX and UAPIX.

Drawdown Indicators

	UTPIX	UAPIX	Difference
Max Drawdown Largest peak-to-trough decline	-73.56%	-88.51%	+14.95%
Max Drawdown (1Y) Largest decline over 1 year	-14.82%	-22.32%	+7.50%
Max Drawdown (3Y) Largest decline over 3 years	-25.70%	-49.86%	+24.16%
Max Drawdown (5Y) Largest decline over 5 years	-38.73%	-61.82%	+23.09%
Max Drawdown (10Y) Largest decline over 10 years	-50.82%	-72.18%	+21.36%
Current Drawdown Current decline from peak	-14.82%	-4.82%	-10.00%
Average Drawdown Average peak-to-trough decline	-21.90%	-36.06%	+14.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.54%	6.53%	+0.01%

Volatility

UTPIX vs. UAPIX - Volatility Comparison

The current volatility for ProFunds Utilities UltraSector Fund (UTPIX) is 7.63%, while ProFunds UltraSmall Cap Fund (UAPIX) has a volatility of 11.07%. This indicates that UTPIX experiences smaller price fluctuations and is considered to be less risky than UAPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTPIX	UAPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	11.07%	-3.44%
Volatility (6M) Calculated over the trailing 6-month period	17.75%	27.07%	-9.32%
Volatility (1Y) Calculated over the trailing 1-year period	22.01%	38.29%	-16.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.01%	45.14%	-19.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.06%	46.52%	-17.46%

UTPIX vs. UAPIX - Expense Ratio Comparison

UTPIX has a 1.73% expense ratio, which is higher than UAPIX's 1.60% expense ratio.

Dividends

UTPIX vs. UAPIX - Dividend Comparison

UTPIX's dividend yield for the trailing twelve months is around 0.77%, more than UAPIX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UAPIX ProFunds UltraSmall Cap Fund	0.36%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%
UTPIX ProFunds Utilities UltraSector Fund	0.77%	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 UTPIX and UAPIX in my portfolio?

UTPIX and UAPIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTPIX or UAPIX?

UAPIX has higher volatility (11.07%) compared to UTPIX (7.63%). In terms of maximum drawdown, UTPIX dropped -73.56% vs UAPIX's -88.51%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (2.20 vs 0.34), 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.