UVPIX vs. RYVNX

Last updated Jun 5, 2026

UVPIX (ProFunds Ultra Short Emerging Market Fund) and RYVNX (Rydex Inverse NASDAQ-100 2x Strategy Fund) are both Inverse Equities funds. Over the past 10 years, UVPIX returned -27.78%/yr vs -39.14%/yr for RYVNX. A 0.70 correlation means they provide meaningful diversification when combined. UVPIX charges 1.78%/yr vs 2.49%/yr for RYVNX.

Performance

UVPIX vs. RYVNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Ultra Short Emerging Market Fund (UVPIX) and Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UVPIX achieves a -14.97% return, which is significantly higher than RYVNX's -32.34% return. Over the past 10 years, UVPIX has outperformed RYVNX with an annualized return of -27.78%, while RYVNX has yielded a comparatively lower -39.14% annualized return.

UVPIX

• 1D: 3.93%
• 1M: -0.33%
• YTD: -14.97%
• 6M: -12.89%
• 1Y: -41.95%
• 3Y*: -33.54%
• 5Y*: -18.84%
• 10Y*: -27.78%

RYVNX

• 1D: 0.57%
• 1M: -16.08%
• YTD: -32.34%
• 6M: -30.28%
• 1Y: -48.91%
• 3Y*: -39.56%
• 5Y*: -32.79%
• 10Y*: -39.14%

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

UVPIX vs. RYVNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UVPIX ProFunds Ultra Short Emerging Market Fund	-14.97%	-49.90%	-17.67%	-27.06%	1.35%	15.70%	-57.91%	-39.81%	20.65%	-48.37%
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	-32.34%	-35.24%	-34.30%	-57.09%	65.14%	-45.41%	-69.71%	-50.05%	-9.71%	-44.28%

Correlation

The correlation between UVPIX and RYVNX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Apr 20, 2006	0.70

The correlation between UVPIX and RYVNX has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

Return for Risk

UVPIX vs. RYVNX — Risk / Return Rank

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

UVPIX

UVPIX Risk / Return Rank: 0
UVPIX Sharpe Ratio Rank: 1
UVPIX Sortino Ratio Rank: 0
UVPIX Omega Ratio Rank: 1
UVPIX Calmar Ratio Rank: 0
UVPIX Martin Ratio Rank: 1

RYVNX

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

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.

UVPIX vs. RYVNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Emerging Market Fund (UVPIX) and Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX). 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.

	UVPIX	RYVNX	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-1.53	+0.48
Sortino ratio: Return per unit of downside risk	-1.55	-2.60	+1.04
Omega ratio: Gain probability vs. loss probability	0.82	0.73	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.94	-0.99	+0.05
Martin ratio: Return relative to average drawdown	-1.36	-1.96	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UVPIX vs. RYVNX - Sharpe Ratio Comparison

The current UVPIX Sharpe Ratio is -1.05, which is higher than the RYVNX Sharpe Ratio of -1.53. The chart below compares the historical Sharpe Ratios of UVPIX and RYVNX, 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

	UVPIX	RYVNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.05	-1.53	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.40	-0.73	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.60	-0.87	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-0.63	+0.62

Drawdowns

UVPIX vs. RYVNX - Drawdown Comparison

The maximum UVPIX drawdown since its inception was -99.86%, roughly equal to the maximum RYVNX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UVPIX and RYVNX.

Drawdown Indicators

	UVPIX	RYVNX	Difference
Max Drawdown Largest peak-to-trough decline	-99.86%	-100.00%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-46.59%	-50.02%	+3.43%
Max Drawdown (3Y) Largest decline over 3 years	-75.41%	-79.67%	+4.26%
Max Drawdown (5Y) Largest decline over 5 years	-83.54%	-88.82%	+5.28%
Max Drawdown (10Y) Largest decline over 10 years	-96.71%	-99.39%	+2.68%
Current Drawdown Current decline from peak	-99.85%	-100.00%	+0.15%
Average Drawdown Average peak-to-trough decline	-89.49%	-89.57%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.76%	25.13%	+8.63%

Volatility

UVPIX vs. RYVNX - Volatility Comparison

ProFunds Ultra Short Emerging Market Fund (UVPIX) has a higher volatility of 14.23% compared to Rydex Inverse NASDAQ-100 2x Strategy Fund (RYVNX) at 9.25%. This indicates that UVPIX's price experiences larger fluctuations and is considered to be riskier than RYVNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UVPIX	RYVNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.23%	9.25%	+4.98%
Volatility (6M) Calculated over the trailing 6-month period	33.17%	24.49%	+8.68%
Volatility (1Y) Calculated over the trailing 1-year period	41.59%	32.16%	+9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.90%	45.14%	+2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.47%	45.08%	+1.39%

UVPIX vs. RYVNX - Expense Ratio Comparison

UVPIX has a 1.78% expense ratio, which is lower than RYVNX's 2.49% expense ratio.

Dividends

UVPIX vs. RYVNX - Dividend Comparison

UVPIX's dividend yield for the trailing twelve months is around 10.57%, less than RYVNX's 15.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RYVNX Rydex Inverse NASDAQ-100 2x Strategy Fund	15.70%	10.62%	6.03%	4.56%	0.00%	0.00%	0.25%	0.03%
UVPIX ProFunds Ultra Short Emerging Market Fund	10.57%	8.99%	0.00%	7.25%	0.00%	0.00%	0.00%	0.49%

Frequently Asked Questions

Can I hold both UVPIX and RYVNX in my portfolio?

UVPIX and RYVNX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UVPIX or RYVNX?

UVPIX has higher volatility (14.23%) compared to RYVNX (9.25%). In terms of maximum drawdown, UVPIX dropped -99.86% vs RYVNX's -100.00%.

Which has better risk-adjusted returns?

UVPIX currently has the higher Sharpe Ratio (-1.05 vs -1.53), 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.