UVPIX vs. TEPIX

Last updated Jun 23, 2026

UVPIX (ProFunds Ultra Short Emerging Market Fund) and TEPIX (ProFunds Technology UltraSector Fund) are both mutual funds - UVPIX is a Inverse Equities fund managed by ProFunds, while TEPIX is a Leveraged Equities fund managed by ProFunds. Over the past 10 years, UVPIX returned -27.59%/yr vs 13.88%/yr for TEPIX. At a correlation of -0.69, they often move in opposite directions. UVPIX charges 1.78%/yr vs 1.48%/yr for TEPIX.

Performance

UVPIX vs. TEPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Ultra Short Emerging Market Fund (UVPIX) and ProFunds Technology UltraSector Fund (TEPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UVPIX achieves a -12.87% return, which is significantly lower than TEPIX's 49.01% return. Over the past 10 years, UVPIX has underperformed TEPIX with an annualized return of -27.59%, while TEPIX has yielded a comparatively higher 13.88% annualized return.

UVPIX

• 1D: -3.41%
• 1M: 0.32%
• YTD: -12.87%
• 6M: -12.58%
• 1Y: -40.36%
• 3Y*: -30.26%
• 5Y*: -19.45%
• 10Y*: -27.59%

TEPIX

• 1D: 4.59%
• 1M: 8.57%
• YTD: 49.01%
• 6M: 46.97%
• 1Y: 91.48%
• 3Y*: -14.00%
• 5Y*: -8.36%
• 10Y*: 13.88%

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

UVPIX vs. TEPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UVPIX ProFunds Ultra Short Emerging Market Fund	-12.87%	-49.90%	-17.67%	-27.06%	1.35%	15.70%	-57.91%	-39.81%	20.65%	-48.37%
TEPIX ProFunds Technology UltraSector Fund	49.01%	30.08%	-71.46%	91.81%	-51.01%	46.85%	64.53%	71.30%	-5.89%	49.17%

Correlation

The correlation between UVPIX and TEPIX is -0.63, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.63
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	-0.66
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006	-0.69

The correlation between UVPIX and TEPIX has been stable across timeframes, ranging from -0.69 to -0.62 - a consistent structural relationship.

Return for Risk

UVPIX vs. TEPIX — Risk / Return Rank

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

UVPIX

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

TEPIX

TEPIX Risk / Return Rank: 71
TEPIX Sharpe Ratio Rank: 86
TEPIX Sortino Ratio Rank: 60
TEPIX Omega Ratio Rank: 62
TEPIX Calmar Ratio Rank: 83
TEPIX Martin Ratio Rank: 60

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. TEPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Emerging Market Fund (UVPIX) and ProFunds Technology UltraSector Fund (TEPIX). 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	TEPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	2.60	-3.52
Sortino ratio: Return per unit of downside risk	-1.27	2.97	-4.24
Omega ratio: Gain probability vs. loss probability	0.85	1.40	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.84	3.68	-4.52
Martin ratio: Return relative to average drawdown	-1.18	11.26	-12.45

UVPIX vs. TEPIX - Sharpe Ratio Comparison

The current UVPIX Sharpe Ratio is -0.91, which is lower than the TEPIX Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of UVPIX and TEPIX, 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

UVPIX vs. TEPIX - Drawdown Comparison

The maximum UVPIX drawdown since its inception was -99.86%, which is greater than TEPIX's maximum drawdown of -89.14%. Use the drawdown chart below to compare losses from any high point for UVPIX and TEPIX.

Drawdown Indicators

	UVPIX	TEPIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.86%	-89.14%	-10.72%
Max Drawdown (1Y) Largest decline over 1 year	-45.97%	-24.64%	-21.33%
Max Drawdown (3Y) Largest decline over 3 years	-75.41%	-85.79%	+10.38%
Max Drawdown (5Y) Largest decline over 5 years	-83.54%	-85.79%	+2.25%
Max Drawdown (10Y) Largest decline over 10 years	-96.71%	-85.79%	-10.92%
Current Drawdown Current decline from peak	-99.84%	-58.59%	-41.25%
Average Drawdown Average peak-to-trough decline	-89.49%	-49.89%	-39.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.93%	8.04%	+24.89%

Volatility

UVPIX vs. TEPIX - Volatility Comparison

The current volatility for ProFunds Ultra Short Emerging Market Fund (UVPIX) is 14.25%, while ProFunds Technology UltraSector Fund (TEPIX) has a volatility of 17.89%. This indicates that UVPIX experiences smaller price fluctuations and is considered to be less risky than TEPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UVPIX	TEPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.25%	17.89%	-3.64%
Volatility (6M) Calculated over the trailing 6-month period	34.98%	29.30%	+5.68%
Volatility (1Y) Calculated over the trailing 1-year period	42.84%	34.82%	+8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.15%	52.35%	-4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.56%	44.56%	+2.00%

UVPIX vs. TEPIX - Expense Ratio Comparison

UVPIX has a 1.78% expense ratio, which is higher than TEPIX's 1.48% expense ratio.

Dividends

UVPIX vs. TEPIX - Dividend Comparison

UVPIX's dividend yield for the trailing twelve months is around 10.32%, more than TEPIX's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
TEPIX ProFunds Technology UltraSector Fund	2.16%	3.22%	0.00%	0.37%	0.00%	0.90%	2.31%	0.00%	0.23%
UVPIX ProFunds Ultra Short Emerging Market Fund	10.32%	8.99%	0.00%	7.25%	0.00%	0.00%	0.00%	0.49%	0.00%

Frequently Asked Questions

Can I hold both UVPIX and TEPIX in my portfolio?

UVPIX and TEPIX have a correlation of -0.63, 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 TEPIX?

TEPIX has higher volatility (17.89%) compared to UVPIX (14.25%). In terms of maximum drawdown, UVPIX dropped -99.86% vs TEPIX's -89.14%.

Which has better risk-adjusted returns?

TEPIX currently has the higher Sharpe Ratio (2.60 vs -0.91), 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.