UUPIX vs. UAPIX
UUPIX (ProFunds UltraEmerging Markets Fund) and UAPIX (ProFunds UltraSmall Cap Fund) are both Leveraged Equities funds from ProFunds. Over the past 10 years, UUPIX returned 10.52%/yr vs 12.46%/yr for UAPIX. A 0.68 correlation means they provide meaningful diversification when combined. UUPIX charges 1.92%/yr vs 1.60%/yr for UAPIX.
Performance
UUPIX vs. UAPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UUPIX achieves a 4.04% return, which is significantly lower than UAPIX's 41.12% return. Over the past 10 years, UUPIX has underperformed UAPIX with an annualized return of 10.52%, while UAPIX has yielded a comparatively higher 12.46% annualized return.
UUPIX
- 1D
- 1.30%
- 1M
- -0.88%
- YTD
- 4.04%
- 6M
- 3.34%
- 1Y
- 42.93%
- 3Y*
- 27.72%
- 5Y*
- -0.66%
- 10Y*
- 10.52%
UAPIX
- 1D
- 1.61%
- 1M
- 9.00%
- YTD
- 41.12%
- 6M
- 34.49%
- 1Y
- 83.87%
- 3Y*
- 27.77%
- 5Y*
- 2.36%
- 10Y*
- 12.46%
UUPIX vs. UAPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UUPIX ProFunds UltraEmerging Markets Fund | 4.04% | 70.53% | 6.99% | 22.60% | -37.35% | -36.21% | 43.24% | 46.76% | -31.83% | 75.03% |
UAPIX ProFunds UltraSmall Cap Fund | 41.12% | 12.77% | 10.42% | 22.26% | -43.78% | 23.06% | 13.86% | 46.81% | -26.88% | 24.36% |
Correlation
The correlation between UUPIX and UAPIX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006 | 0.68 |
The correlation between UUPIX and UAPIX has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.
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Return for Risk
UUPIX vs. UAPIX — Risk / Return Rank
UUPIX
UAPIX
UUPIX vs. UAPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraEmerging Markets Fund (UUPIX) 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.
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.
| UUPIX | UAPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.33 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 3.96 | -2.47 |
| Martin ratioReturn relative to average drawdown | 4.01 | 13.47 | -9.46 |
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Drawdowns
UUPIX vs. UAPIX - Drawdown Comparison
The maximum UUPIX drawdown since its inception was -93.82%, which is greater than UAPIX's maximum drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for UUPIX and UAPIX.
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Drawdown Indicators
| UUPIX | UAPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.82% | -88.51% | -5.31% |
Max Drawdown (1Y)Largest decline over 1 year | -29.91% | -22.32% | -7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -37.01% | -49.86% | +12.85% |
Max Drawdown (5Y)Largest decline over 5 years | -71.31% | -61.82% | -9.49% |
Max Drawdown (10Y)Largest decline over 10 years | -78.32% | -72.18% | -6.14% |
Current DrawdownCurrent decline from peak | -74.09% | 0.00% | -74.09% |
Average DrawdownAverage peak-to-trough decline | -75.93% | -35.98% | -39.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.16% | 6.55% | +4.61% |
Volatility
UUPIX vs. UAPIX - Volatility Comparison
ProFunds UltraEmerging Markets Fund (UUPIX) has a higher volatility of 14.57% compared to ProFunds UltraSmall Cap Fund (UAPIX) at 12.82%. This indicates that UUPIX's price experiences larger fluctuations and is considered to be riskier than UAPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UUPIX | UAPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.57% | 12.82% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 34.65% | 28.58% | +6.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.80% | 39.46% | +3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.27% | 45.31% | +2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.53% | 46.63% | -0.10% |
UUPIX vs. UAPIX - Expense Ratio Comparison
UUPIX has a 1.92% expense ratio, which is higher than UAPIX's 1.60% expense ratio.
Dividends
UUPIX vs. UAPIX - Dividend Comparison
UUPIX's dividend yield for the trailing twelve months is around 2.44%, more than UAPIX's 0.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UAPIX ProFunds UltraSmall Cap Fund | 0.33% | 0.47% | 1.06% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% | 0.00% |
UUPIX ProFunds UltraEmerging Markets Fund | 2.44% | 2.54% | 1.65% | 1.77% | 1.05% | 0.00% | 0.00% | 0.00% | 0.64% | 0.16% |
Frequently Asked Questions
UUPIX and UAPIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UUPIX has higher volatility (14.57%) compared to UAPIX (12.82%). In terms of maximum drawdown, UUPIX dropped -93.82% vs UAPIX's -88.51%.
UAPIX currently has the higher Sharpe Ratio (2.25 vs 1.05), 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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