Fund Evaluator:

ProFunds Semiconductor UltraSector Inv Overview

ProFunds Semiconductor UltraSector Inv (SMPIX) is a passively managed Miscellaneous Trading--Leveraged Equity fund. ProFunds launched the fund in 2000.

The investment seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S.Semiconductor SM Index. The fund invests in financial instruments that the adviser believes, in combination, should produce daily returns consistent with the Daily Target. The index is designed to measure the stock performance of U.S. companies in the semiconductors sub-sector. The fund is non-diversified.

About ProFunds Semiconductor UltraSector Inv (SMPIX)

There are 2 members of the management team with an average tenure of 10.46 years: Michael Neches (2013), Tarak Davé (2018). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and DJ US Semiconductors TR USD index with a weighting of 150%. ProFunds Semiconductor UltraSector Inv has 48 securities in its portfolio. The top 10 holdings constitute 147.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

ProFunds Semiconductor UltraSector Inv is part of the Other global asset class and is within the Miscellaneous fund group. ProFunds Semiconductor UltraSector Inv has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 151.9%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProFunds Semiconductor UltraSector Inv has -68.4% of the portfolio in cash.

Assets Under Management

The fund has $814 million in total assets, which is above the $77 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

SMPIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProFunds Semiconductor UltraSector Inv expense ratio is high compared to funds in the Trading--Leveraged Equity category. ProFunds Semiconductor UltraSector Inv has an expense ratio of 1.46%, which is 28% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. ProFunds Semiconductor UltraSector Inv has a portfolio turnover rate of 205%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 401% for the Trading--Leveraged Equity category.

Recently, in the month of June 2026, ProFunds Semiconductor UltraSector Inv returned 3.2%, which earned it a grade of C, as the Trading--Leveraged Equity category had an average return of 1.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

ProFunds Semiconductor UltraSector Inv has a trailing yield of 0.06%, which is below the 1.04% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

ProFunds Semiconductor UltraSector Inv Grades

Year to date, the fund has returned 73.2%, 51.2 percentage points better than the category, which translates into a grade of A. The fund has returned 130.1% over the past year (grade of A), 89.5% over the past three years (grade of A) and 54.1% per year over the past five years (grade of A) and 50.1% per year over the past 10 years (grade of A).

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