AIOO vs. BITI

Last updated Jul 14, 2026

AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - AIOO is a Defined Outcome fund actively managed by Allianz, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. AIOO is actively managed, while BITI is passively managed. Over the past year, AIOO returned 5.09% vs 68.34% for BITI. At a correlation of -0.40, they often move in opposite directions. AIOO charges 0.64%/yr vs 1.03%/yr for BITI.

Performance

AIOO vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIOO achieves a 2.42% return, which is significantly lower than BITI's 28.75% return.

AIOO

• 1D: -0.06%
• 1M: 0.32%
• 6M: 2.23%
• YTD: 2.42%
• 1Y: 5.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

AIOO vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.42%	2.65%
BITI ProShares Short Bitcoin ETF	28.75%	18.88%

Correlation

The correlation between AIOO and BITI is -0.42, 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	-0.42
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	-0.40

Return for Risk

AIOO vs. BITI — Risk / Return Rank

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

AIOO

AIOO Risk / Return Rank: 93
AIOO Sharpe Ratio Rank: 91
AIOO Sortino Ratio Rank: 94
AIOO Omega Ratio Rank: 91
AIOO Calmar Ratio Rank: 96
AIOO Martin Ratio Rank: 94

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

AIOO vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and ProShares Short Bitcoin ETF (BITI). 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.

	AIOO	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.48	1.56	+0.92
Sortino ratio: Return per unit of downside risk	3.84	2.13	+1.71
Omega ratio: Gain probability vs. loss probability	1.48	1.26	+0.22
Calmar ratio: Return relative to maximum drawdown	6.90	2.72	+4.18
Martin ratio: Return relative to average drawdown	19.91	6.78	+13.13

AIOO vs. BITI - Sharpe Ratio Comparison

The current AIOO Sharpe Ratio is 2.48, which is higher than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of AIOO and BITI, 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

AIOO vs. BITI - Drawdown Comparison

The maximum AIOO drawdown since its inception was -0.74%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for AIOO and BITI.

Drawdown Indicators

	AIOO	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-0.74%	-92.16%	+91.42%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	-25.28%	+24.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-0.06%	-85.94%	+85.88%
Average Drawdown Average peak-to-trough decline	-0.18%	-68.34%	+68.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	10.11%	-9.85%

Volatility

AIOO vs. BITI - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) is 0.70%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that AIOO experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIOO	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	11.38%	-10.68%
Volatility (6M) Calculated over the trailing 6-month period	1.42%	34.25%	-32.83%
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	44.14%	-42.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.05%	52.28%	-50.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.05%	52.28%	-50.23%

AIOO vs. BITI - Expense Ratio Comparison

AIOO has a 0.64% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

AIOO vs. BITI - Dividend Comparison

AIOO has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.10%.

Position	TTM	2025	2024	2023	2022
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%	0.00%	0.00%	0.00%
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%

Frequently Asked Questions

Can I hold both AIOO and BITI in my portfolio?

AIOO and BITI have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIOO or BITI?

BITI has higher volatility (11.38%) compared to AIOO (0.70%). In terms of maximum drawdown, AIOO dropped -0.74% vs BITI's -92.16%.

Which ETF is better, AIOO or BITI?

On 1-year performance, BITI leads with 68.34% vs 5.09% for AIOO. On fees, AIOO is cheaper at 0.64% per year. On volatility, AIOO has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIOO or BITI?

Over the 1-year period, BITI has performed better with a 68.34% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIOO or BITI?

AIOO is cheaper with a 0.64% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, AIOO or BITI?

BITI has the higher dividend yield at 15.10%, compared with 0.00% for AIOO.

What is the main difference between AIOO and BITI?

AIOO is categorized as Defined Outcome, while BITI is Cryptocurrency. They also come from different issuers: Allianz and ProShares. Their fees differ too: 0.64% for AIOO and 1.03% for BITI.

Which has better risk-adjusted returns?

AIOO currently has the higher Sharpe Ratio (2.48 vs 1.56), 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.