5 Worst Performing Mutual Funds in 2023

2. ProFunds UltraShort NASDAQ-100 Svc (NASDAQ:USPSX)

Year to Date Return: -45.67%

ProFunds UltraShort NASDAQ-100 Svc (NASDAQ:USPSX) is another short mutual fund. As opposed to the Ultra Short Japan ProFunds fund, which targets the Nikkei 225 index, the ProFunds UltraShort NASDAQ-100 Svc (NASDAQ:USPSX) instead tracks the top tier Nikkei 100 index. Naturally, and as we mentioned in our introduction since the NASDAQ 100 has been one of the best performing indexes this year due to the surge in hype for artificial intelligence, the ProFunds UltraShort NASDAQ-100 Svc (NASDAQ:USPSX) is the second worst performing mutual fund in 2023.