UWPIX vs. UKPIX
UWPIX (ProFunds UltraShort Dow 30 Fund) and UKPIX (ProFunds Ultra Short Japan Fund) are both Inverse Equities funds from ProFunds. Over the past 10 years, UWPIX returned -26.45%/yr vs -19.34%/yr for UKPIX. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 1.78% expense ratio.
Performance
UWPIX vs. UKPIX - Performance Comparison
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Returns By Period
In the year-to-date period, UWPIX achieves a -13.66% return, which is significantly higher than UKPIX's -57.52% return. Over the past 10 years, UWPIX has underperformed UKPIX with an annualized return of -26.45%, while UKPIX has yielded a comparatively higher -19.34% annualized return.
UWPIX
- 1D
- -0.52%
- 1M
- -4.49%
- YTD
- -13.66%
- 6M
- -12.17%
- 1Y
- -30.66%
- 3Y*
- -24.21%
- 5Y*
- -17.88%
- 10Y*
- -26.45%
UKPIX
- 1D
- -3.00%
- 1M
- -27.10%
- YTD
- -57.52%
- 6M
- -57.32%
- 1Y
- -76.59%
- 3Y*
- 13.45%
- 5Y*
- -2.39%
- 10Y*
- -19.34%
UWPIX vs. UKPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UWPIX ProFunds UltraShort Dow 30 Fund | -13.66% | -23.48% | -20.75% | -18.56% | 5.91% | -35.49% | -45.69% | -36.17% | 1.45% | -39.01% |
UKPIX ProFunds Ultra Short Japan Fund | -57.52% | -44.54% | 554.47% | -43.26% | 9.92% | -20.34% | -47.86% | -35.34% | 13.58% | -34.24% |
Correlation
The correlation between UWPIX and UKPIX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2006 | 0.68 |
The correlation between UWPIX and UKPIX shifts across timeframes, from 0.53 (3 years) to 0.68 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UWPIX vs. UKPIX — Risk / Return Rank
UWPIX
UKPIX
UWPIX vs. UKPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort Dow 30 Fund (UWPIX) and ProFunds Ultra Short Japan Fund (UKPIX). 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 | UKPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.64 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -1.01 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.69 | -1.63 | -0.06 |
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Drawdowns
UWPIX vs. UKPIX - Drawdown Comparison
The maximum UWPIX drawdown since its inception was -99.78%, roughly equal to the maximum UKPIX drawdown of -99.83%. Use the drawdown chart below to compare losses from any high point for UWPIX and UKPIX.
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Drawdown Indicators
| UWPIX | UKPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.78% | -99.83% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -30.15% | -76.38% | +46.23% |
Max Drawdown (3Y)Largest decline over 3 years | -61.34% | -83.62% | +22.28% |
Max Drawdown (5Y)Largest decline over 5 years | -68.99% | -83.62% | +14.63% |
Max Drawdown (10Y)Largest decline over 10 years | -95.56% | -95.41% | -0.15% |
Current DrawdownCurrent decline from peak | -99.78% | -99.56% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -77.69% | -82.73% | +5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.00% | 47.84% | -27.84% |
Volatility
UWPIX vs. UKPIX - Volatility Comparison
The current volatility for ProFunds UltraShort Dow 30 Fund (UWPIX) is 8.51%, while ProFunds Ultra Short Japan Fund (UKPIX) has a volatility of 20.75%. This indicates that UWPIX experiences smaller price fluctuations and is considered to be less risky than UKPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UWPIX | UKPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.51% | 20.75% | -12.24% |
Volatility (6M)Calculated over the trailing 6-month period | 19.83% | 41.42% | -21.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.03% | 51.78% | -26.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.05% | 425.72% | -395.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.04% | 302.24% | -267.20% |
UWPIX vs. UKPIX - Expense Ratio Comparison
Both UWPIX and UKPIX have an expense ratio of 1.78%.
Dividends
UWPIX vs. UKPIX - Dividend Comparison
UWPIX's dividend yield for the trailing twelve months is around 5.23%, more than UKPIX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UKPIX ProFunds Ultra Short Japan Fund | 3.87% | 1.65% | 9.69% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% |
UWPIX ProFunds UltraShort Dow 30 Fund | 5.23% | 4.51% | 0.00% | 2.28% | 0.00% | 0.00% | 0.00% | 0.35% |
Frequently Asked Questions
UWPIX and UKPIX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UKPIX has higher volatility (20.75%) compared to UWPIX (8.51%). In terms of maximum drawdown, UWPIX dropped -99.78% vs UKPIX's -99.83%.
UWPIX currently has the higher Sharpe Ratio (-1.28 vs -1.49), 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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