UVPIX vs. UHPIX
UVPIX (ProFunds Ultra Short Emerging Market Fund) and UHPIX (ProFunds UltraShort China) are both Inverse Equities funds from ProFunds. Over the past 10 years, UVPIX returned -26.32%/yr vs -30.64%/yr for UHPIX. Their correlation of 0.85 means they have usually moved in the same direction. Both charge a 1.78% expense ratio.
Performance
UVPIX vs. UHPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UVPIX achieves a -12.87% return, which is significantly lower than UHPIX's 25.12% return. Over the past 10 years, UVPIX has outperformed UHPIX with an annualized return of -26.32%, while UHPIX has yielded a comparatively lower -30.64% annualized return.
UVPIX
- 1D
- -6.74%
- 1M
- -4.59%
- 6M
- 0.81%
- YTD
- -12.87%
- 1Y
- -35.55%
- 3Y*
- -28.13%
- 5Y*
- -20.68%
- 10Y*
- -26.32%
- ALL TIME*
- -12.88%
UHPIX
- 1D
- -1.12%
- 1M
- -18.27%
- 6M
- 34.01%
- YTD
- 25.12%
- 1Y
- 2.46%
- 3Y*
- -19.47%
- 5Y*
- -30.70%
- 10Y*
- -30.64%
- ALL TIME*
- -30.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
UVPIX vs. UHPIX - 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% |
UHPIX ProFunds UltraShort China | 25.12% | -49.82% | -29.87% | -26.13% | -63.62% | 94.89% | -64.76% | -43.34% | 39.47% | -57.67% |
Correlation
The correlation between UVPIX and UHPIX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2008 | 0.85 |
The correlation between UVPIX and UHPIX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.
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Return for Risk
UVPIX vs. UHPIX — Risk / Return Rank
UVPIX
UHPIX
UVPIX vs. UHPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short Emerging Market Fund (UVPIX) and ProFunds UltraShort China (UHPIX). 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 | UHPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.06 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 0.13 | -0.93 |
| Martin ratioReturn relative to average drawdown | -1.11 | 0.25 | -1.36 |
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Drawdowns
UVPIX vs. UHPIX - Drawdown Comparison
The maximum UVPIX drawdown since its inception was -99.86%, roughly equal to the maximum UHPIX drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for UVPIX and UHPIX.
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Drawdown Indicators
| UVPIX | UHPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -99.98% | +0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -42.28% | -41.26% | -1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -75.41% | -80.64% | +5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -83.54% | -96.64% | +13.10% |
Max Drawdown (10Y)Largest decline over 10 years | -95.74% | -98.53% | +2.79% |
Current DrawdownCurrent decline from peak | -99.84% | -99.96% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -89.55% | -93.45% | +3.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.43% | 21.10% | +9.33% |
Volatility
UVPIX vs. UHPIX - Volatility Comparison
The current volatility for ProFunds Ultra Short Emerging Market Fund (UVPIX) is 13.29%, while ProFunds UltraShort China (UHPIX) has a volatility of 14.43%. This indicates that UVPIX experiences smaller price fluctuations and is considered to be less risky than UHPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UVPIX | UHPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.29% | 14.43% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 35.82% | 38.13% | -2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.43% | 53.45% | -9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.08% | 82.02% | -33.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.53% | 228.56% | -182.03% |
UVPIX vs. UHPIX - Expense Ratio Comparison
Both UVPIX and UHPIX have an expense ratio of 1.78%.
Dividends
UVPIX vs. UHPIX - Dividend Comparison
UVPIX's dividend yield for the trailing twelve months is around 10.32%, more than UHPIX's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UHPIX ProFunds UltraShort China | 3.43% | 4.29% | 0.00% | 3.45% | 0.00% | 0.00% | 0.00% | 0.55% |
UVPIX ProFunds Ultra Short Emerging Market Fund | 10.32% | 8.99% | 0.00% | 7.25% | 0.00% | 0.00% | 0.00% | 0.49% |
Frequently Asked Questions
UVPIX and UHPIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UHPIX has higher volatility (14.43%) compared to UVPIX (13.29%). In terms of maximum drawdown, UVPIX dropped -99.86% vs UHPIX's -99.98%.
UHPIX currently has the higher Sharpe Ratio (0.10 vs -0.76), 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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