If you've been stuck searching for China - Equity funds, consider ProFunds UltraChina Investor (UGPIX Quick QuoteUGPIX - Free Report) as a possibility. While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.

Objective

We note that UGPIX is a China - Equity option, an area loaded with different options. China - Equity mutual funds and their investments revolve around stocks in China, Taiwan, and Hong Kong. China's middle class is booming, and its economy reflect this demographic's rise more than the vast export-focused manufacturing one we typically associate with the country. Even if this strategy sounds enticing, you may want to look past UGPIX.

History of Fund/Manager

ProFunds is based in Columbus, OH, and is the manager of UGPIX. ProFunds UltraChina Investor debuted in February of 2008. Since then, UGPIX has accumulated assets of about $20.82 million, according to the most recently available information. The fund's current manager, Alexander Ilyasov, has been in charge of the fund since August of 2020.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of -29.28%, and it sits in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of -44.49%, which places it in the bottom third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, UGPIX's standard deviation comes in at 83.26%, compared to the category average of 1%. Looking at the past 5 years, the fund's standard deviation is 71.76% compared to the category average of 11%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.97, so it is likely going to be as volatile as the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. UGPIX has generated a negative alpha over the past five years of -22.69, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, UGPIX is a no load fund. It has an expense ratio of 1.85% compared to the category average of 37%. From a cost perspective, UGPIX is actually cheaper than its peers.

Investors need to be aware that with this product, the minimum initial investment is $15,000; each subsequent investment has no minimum amount.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

This could just be the start of your research on UGPIXin the China - Equity category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.