ProFunds Biotechnology UltraSector Fund Investor Class
BIPIX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 7272 Wisconsin Avenue Bethesda MD United States of America 20814
- IPO Date
- Jun 19, 2000
- CIK
- 0001039803
- Website
- profunds.com
- Similar Companies
- Business
- ProFunds Biotechnology UltraSector Fund Investor Class (BIPIX) is a leveraged mutual fund that seeks daily investment results, before fees and expenses, corresponding to one and one-half times (1.5x) the daily performance of the S&P Biotechnology Select Industry Index. The fund invests principally in equity securities of biotechnology companies, derivatives such as swap agreements with major global financial institutions, and money market instruments including U.S. Treasury bills and repurchase agreements; it maintains at least 80% leveraged exposure to Index components or instruments with similar economic characteristics and rebalances daily to align with the 1.5x target. It offers Investor Class (BIPIX, CUSIP 743185-480) and Service Class (BIPSX, CUSIP 743185-472) shares, with total annual operating expenses of 1.56% for Investor Class (after waivers through November 30, 2025) and a minimum initial investment of $15,000 for individuals or $5,000 via financial professionals. The fund targets investors seeking amplified daily exposure to the biotechnology segment of the U.S. equity market, comprising companies in the biotechnology sub-industry per the Global Industry Classification Standard (GICS); the equal-weighted Index (Bloomberg ticker: SPSIBI), constructed by S&P Dow Jones Indices, includes approximately 128 constituents as of September 30, 2025, with an average market capitalization of $11.93 billion. ProFunds Biotechnology UltraSector Fund Investor Class operates without limits on exchanges and permits short-term trading, resulting in high portfolio turnover of 196% in the most recent fiscal year. Managed by ProFund Advisors LLC, founded in 1997 and headquartered in Bethesda, Maryland, the fund falls within the firm's UltraSector ProFunds group; senior portfolio manager Michael Neches and portfolio manager Tarak Davé have jointly managed it since October 2013 and April 2018, respectively. The adviser employs a mathematical approach to determine holdings, prioritizing full investment in financial instruments for leveraged exposure regardless of market conditions. Recent developments include a prospectus update dated November 27, 2024, restating fees and expenses while confirming ongoing fee waivers by ProFund Advisors through November 30, 2025, to cap Investor Class expenses at 1.95%; the fund reported year-to-date returns of 50.13% for Investor Class as of December 15, 2025, reflecting strong biotech sector performance amid elevated volatility. No major acquisitions, partnerships, or strategic shifts specific to the fund or ProFund Advisors were reported in 2024-2025, with portfolio adjustments focused on maintaining Index correlation through holdings like Gilead Sciences and new positions in emerging biotech names such as Mineralys Therapeutics. The fund remains non-diversified, with significant concentration in pharmaceuticals, biotechnology, and life sciences, exposing it to sector-specific risks including regulatory scrutiny and patent dependencies.