UXPIX vs. SMPIX

Last updated Jun 25, 2026

UXPIX (ProFunds Ultra Short International Fund) and SMPIX (ProFunds Semiconductor UltraSector Fund Investor Class) are both mutual funds - UXPIX is a Inverse Equities fund managed by ProFunds, while SMPIX is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (150% Daily). Over the past 10 years, UXPIX returned -21.04%/yr vs 19.54%/yr for SMPIX. At a correlation of -0.63, they often move in opposite directions. UXPIX charges 1.78%/yr vs 1.52%/yr for SMPIX.

Performance

UXPIX vs. SMPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Ultra Short International Fund (UXPIX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXPIX achieves a -15.73% return, which is significantly lower than SMPIX's 63.31% return. Over the past 10 years, UXPIX has underperformed SMPIX with an annualized return of -21.04%, while SMPIX has yielded a comparatively higher 19.54% annualized return.

UXPIX

• 1D: 4.56%
• 1M: -0.11%
• YTD: -15.73%
• 6M: -14.92%
• 1Y: -29.35%
• 3Y*: -23.58%
• 5Y*: -15.51%
• 10Y*: -21.04%

SMPIX

• 1D: -9.33%
• 1M: 2.45%
• YTD: 63.31%
• 6M: 60.03%
• 1Y: 134.32%
• 3Y*: -9.28%
• 5Y*: -0.44%
• 10Y*: 19.54%

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

UXPIX vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UXPIX ProFunds Ultra Short International Fund	-15.73%	-40.68%	-0.70%	-23.81%	19.33%	-25.44%	-36.55%	-33.25%	29.63%	-37.30%
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	63.31%	56.35%	-77.32%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between UXPIX and SMPIX is -0.49, 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	-0.49
Correlation (3Y) Calculated over the trailing 3-year period	-0.48
Correlation (5Y) Calculated over the trailing 5-year period	-0.57
Correlation (10Y) Calculated over the trailing 10-year period	-0.58
Correlation (All Time) Calculated using the full available price history since Apr 19, 2006	-0.63

The correlation between UXPIX and SMPIX shifts across timeframes, from -0.63 (all time) to -0.48 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

UXPIX vs. SMPIX — Risk / Return Rank

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

UXPIX

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

SMPIX

SMPIX Risk / Return Rank: 81
SMPIX Sharpe Ratio Rank: 91
SMPIX Sortino Ratio Rank: 60
SMPIX Omega Ratio Rank: 64
SMPIX Calmar Ratio Rank: 97
SMPIX Martin Ratio Rank: 93

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.

UXPIX vs. SMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Ultra Short International Fund (UXPIX) and ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX). 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.

	UXPIX	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	2.83	-3.80
Sortino ratio: Return per unit of downside risk	-1.37	2.96	-4.33
Omega ratio: Gain probability vs. loss probability	0.84	1.40	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.91	6.45	-7.36
Martin ratio: Return relative to average drawdown	-1.52	18.55	-20.06

UXPIX vs. SMPIX - Sharpe Ratio Comparison

The current UXPIX Sharpe Ratio is -0.98, which is lower than the SMPIX Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of UXPIX and SMPIX, 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

UXPIX vs. SMPIX - Drawdown Comparison

The maximum UXPIX drawdown since its inception was -99.48%, which is greater than SMPIX's maximum drawdown of -94.52%. Use the drawdown chart below to compare losses from any high point for UXPIX and SMPIX.

Drawdown Indicators

	UXPIX	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.48%	-94.52%	-4.96%
Max Drawdown (1Y) Largest decline over 1 year	-34.14%	-22.72%	-11.42%
Max Drawdown (3Y) Largest decline over 3 years	-64.24%	-94.52%	+30.28%
Max Drawdown (5Y) Largest decline over 5 years	-74.97%	-94.52%	+19.55%
Max Drawdown (10Y) Largest decline over 10 years	-91.30%	-94.52%	+3.22%
Current Drawdown Current decline from peak	-99.46%	-75.35%	-24.11%
Average Drawdown Average peak-to-trough decline	-82.52%	-57.65%	-24.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.55%	7.88%	+12.67%

Volatility

UXPIX vs. SMPIX - Volatility Comparison

The current volatility for ProFunds Ultra Short International Fund (UXPIX) is 11.10%, while ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) has a volatility of 25.81%. This indicates that UXPIX experiences smaller price fluctuations and is considered to be less risky than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXPIX	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	25.81%	-14.71%
Volatility (6M) Calculated over the trailing 6-month period	27.31%	41.29%	-13.98%
Volatility (1Y) Calculated over the trailing 1-year period	31.97%	51.82%	-19.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.88%	71.60%	-37.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.05%	59.66%	-24.61%

UXPIX vs. SMPIX - Expense Ratio Comparison

UXPIX has a 1.78% expense ratio, which is higher than SMPIX's 1.52% expense ratio.

Dividends

UXPIX vs. SMPIX - Dividend Comparison

UXPIX's dividend yield for the trailing twelve months is around 3.92%, less than SMPIX's 7.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	7.97%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%
UXPIX ProFunds Ultra Short International Fund	3.92%	3.30%	0.00%	3.97%	0.00%	0.00%	0.00%	0.90%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UXPIX and SMPIX in my portfolio?

UXPIX and SMPIX have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UXPIX or SMPIX?

SMPIX has higher volatility (25.81%) compared to UXPIX (11.10%). In terms of maximum drawdown, UXPIX dropped -99.48% vs SMPIX's -94.52%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (2.83 vs -0.98), 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.