UWPIX vs. SPY
UWPIX (ProFunds UltraShort Dow 30 Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - UWPIX is a Inverse Equities fund managed by ProFunds, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, UWPIX returned -25.66%/yr vs 15.07%/yr for SPY. Their -0.92 correlation means they have often moved in opposite directions in the past. UWPIX charges 1.78%/yr vs 0.09%/yr for SPY.
Performance
UWPIX vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, UWPIX achieves a -14.90% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, UWPIX has underperformed SPY with an annualized return of -25.66%, while SPY has yielded a comparatively higher 15.07% annualized return.
UWPIX
- 1D
- -2.33%
- 1M
- 2.86%
- 6M
- -12.22%
- YTD
- -14.90%
- 1Y
- -28.82%
- 3Y*
- -22.13%
- 5Y*
- -16.97%
- 10Y*
- -25.66%
- ALL TIME*
- -11.51%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.27B | $35.99B | $39.23B | |
| $0.00 | $0.00 | $0.00 |
UWPIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UWPIX ProFunds UltraShort Dow 30 Fund | -14.90% | -23.48% | -20.75% | -18.56% | 5.91% | -35.49% | -45.69% | -36.17% | 1.45% | -39.01% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between UWPIX and SPY is -0.80, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.80 |
Correlation (3Y) Balances recent behavior with more history. | -0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 22, 2004 | -0.92 |
The correlation between UWPIX and SPY shifts across timeframes, from -0.92 (all time) to -0.80 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UWPIX vs. SPY — Risk / Return Rank
UWPIX
SPY
UWPIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Dow 30 Fund (UWPIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| UWPIX | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.56 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.27 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 2.20 | -3.04 |
| Martin ratioReturn relative to average drawdown | -1.41 | 9.40 | -10.81 |
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Drawdowns
UWPIX vs. SPY - Drawdown Comparison
The maximum UWPIX drawdown since its inception was -99.79%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for UWPIX and SPY.
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Drawdown Indicators
| UWPIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.79% | -55.19% | -44.60% |
Max Drawdown (1Y)Largest decline over 1 year | -31.18% | -8.88% | -22.30% |
Max Drawdown (3Y)Largest decline over 3 years | -62.72% | -18.76% | -43.96% |
Max Drawdown (5Y)Largest decline over 5 years | -70.10% | -24.50% | -45.60% |
Max Drawdown (10Y)Largest decline over 10 years | -95.20% | -33.72% | -61.48% |
Current DrawdownCurrent decline from peak | -99.78% | -1.40% | -98.38% |
Average DrawdownAverage peak-to-trough decline | -77.79% | -9.01% | -68.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.38% | 2.08% | +16.30% |
Volatility
UWPIX vs. SPY - Volatility Comparison
ProFunds UltraShort Dow 30 Fund (UWPIX) has a higher volatility of 7.27% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that UWPIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UWPIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.27% | 3.58% | +3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 19.84% | 10.14% | +9.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.13% | 12.89% | +12.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.03% | 17.18% | +12.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.96% | 17.95% | +17.01% |
UWPIX vs. SPY - Expense Ratio Comparison
UWPIX has a 1.78% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
UWPIX vs. SPY - Dividend Comparison
UWPIX's dividend yield for the trailing twelve months is around 5.31%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
UWPIX ProFunds UltraShort Dow 30 Fund | 5.31% | 4.51% | 0.00% | 2.28% | 0.00% | 0.00% | 0.00% | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UWPIX and SPY have a correlation of -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UWPIX has higher volatility (7.27%) compared to SPY (3.58%). In terms of maximum drawdown, UWPIX dropped -99.79% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -1.04), 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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