UVPIX vs. SOPIX
UVPIX (ProFunds Ultra Short Emerging Market Fund) and SOPIX (ProFunds Short NASDAQ-100 Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UVPIX returned -26.80%/yr vs -20.28%/yr for SOPIX. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 1.78% expense ratio.
Performance
UVPIX vs. SOPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UVPIX achieves a -15.38% return, which is significantly lower than SOPIX's -14.03% return. Over the past 10 years, UVPIX has underperformed SOPIX with an annualized return of -26.80%, while SOPIX has yielded a comparatively higher -20.28% annualized return.
UVPIX
- 1D
- -2.42%
- 1M
- -4.27%
- 6M
- -2.89%
- YTD
- -15.38%
- 1Y
- -36.27%
- 3Y*
- -30.54%
- 5Y*
- -20.16%
- 10Y*
- -26.80%
SOPIX
- 1D
- 0.31%
- 1M
- 1.56%
- 6M
- -13.17%
- YTD
- -14.03%
- 1Y
- -20.64%
- 3Y*
- -19.47%
- 5Y*
- -15.00%
- 10Y*
- -20.28%
UVPIX vs. SOPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UVPIX ProFunds Ultra Short Emerging Market Fund | -15.38% | -49.90% | -17.67% | -27.06% | 1.35% | 15.70% | -57.91% | -39.81% | 20.65% | -48.37% |
SOPIX ProFunds Short NASDAQ-100 Fund | -14.03% | -15.80% | -23.82% | -31.85% | 34.73% | -25.69% | -42.92% | -28.29% | -3.07% | -25.24% |
Correlation
The correlation between UVPIX and SOPIX is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006 | 0.70 |
The correlation between UVPIX and SOPIX has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
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Return for Risk
UVPIX vs. SOPIX — Risk / Return Rank
UVPIX
SOPIX
UVPIX vs. SOPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Emerging Market Fund (UVPIX) 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.
| UVPIX | SOPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.82 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.84 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.71 | +0.49 |
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Drawdowns
UVPIX vs. SOPIX - Drawdown Comparison
The maximum UVPIX drawdown since its inception was -99.86%, roughly equal to the maximum SOPIX drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for UVPIX and SOPIX.
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Drawdown Indicators
| UVPIX | SOPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -99.07% | -0.79% |
Max Drawdown (1Y)Largest decline over 1 year | -42.28% | -24.87% | -17.41% |
Max Drawdown (3Y)Largest decline over 3 years | -75.41% | -54.87% | -20.54% |
Max Drawdown (5Y)Largest decline over 5 years | -83.54% | -65.00% | -18.54% |
Max Drawdown (10Y)Largest decline over 10 years | -95.88% | -89.96% | -5.92% |
Current DrawdownCurrent decline from peak | -99.85% | -99.04% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -89.53% | -76.23% | -13.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.59% | 12.15% | +17.44% |
Volatility
UVPIX vs. SOPIX - Volatility Comparison
ProFunds Ultra Short Emerging Market Fund (UVPIX) has a higher volatility of 13.78% compared to ProFunds Short NASDAQ-100 Fund (SOPIX) at 7.80%. This indicates that UVPIX'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
| UVPIX | SOPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.78% | 7.80% | +5.98% |
Volatility (6M)Calculated over the trailing 6-month period | 35.12% | 15.22% | +19.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.97% | 18.50% | +25.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.26% | 23.76% | +24.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.46% | 22.63% | +23.83% |
UVPIX vs. SOPIX - Expense Ratio Comparison
Both UVPIX and SOPIX have an expense ratio of 1.78%.
Dividends
UVPIX vs. SOPIX - Dividend Comparison
UVPIX's dividend yield for the trailing twelve months is around 10.62%, more than SOPIX's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SOPIX ProFunds Short NASDAQ-100 Fund | 2.49% | 2.14% | 0.00% | 6.71% | 0.00% | 0.00% | 0.00% | 0.29% |
UVPIX ProFunds Ultra Short Emerging Market Fund | 10.62% | 8.99% | 0.00% | 7.25% | 0.00% | 0.00% | 0.00% | 0.49% |
Frequently Asked Questions
UVPIX and SOPIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVPIX has higher volatility (13.78%) compared to SOPIX (7.80%). In terms of maximum drawdown, UVPIX dropped -99.86% vs SOPIX's -99.07%.
UVPIX currently has the higher Sharpe Ratio (-0.82 vs -1.12), 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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