AIPO vs. BITI

Last updated Aug 4, 2026

AIPO (Defiance AI & Power Infrastructure ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - AIPO is a Artificial Intelligence fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, AIPO returned 46.89% vs 56.28% for BITI. Their -0.45 correlation means they have often moved in opposite directions in the past. AIPO charges 0.69%/yr vs 1.03%/yr for BITI.

Performance

AIPO vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance AI & Power Infrastructure ETF (AIPO) 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, AIPO achieves a 33.86% return, which is significantly higher than BITI's 25.22% return.

AIPO

• 1D: 3.42%
• 1M: -4.58%
• 6M: 20.17%
• YTD: 33.86%
• 1Y: 46.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.22%

BITI

• 1D: -1.48%
• 1M: -4.03%
• 6M: 13.09%
• YTD: 25.22%
• 1Y: 56.28%
• 3Y*: -32.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIPO Defiance AI & Power Infrastructure ETF	$42.27M	$38.04M	$47.00M
BITI ProShares Short Bitcoin ETF	$24.18M	$25.87M	$38.72M

AIPO vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
AIPO Defiance AI & Power Infrastructure ETF	33.86%	9.46%
BITI ProShares Short Bitcoin ETF	25.22%	31.79%

Correlation

The correlation between AIPO and BITI is -0.45, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.45
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	-0.45

Return for Risk

AIPO vs. BITI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIPO

AIPO Risk / Return Rank: 50
AIPO Sharpe Ratio Rank: 50
AIPO Sortino Ratio Rank: 47
AIPO Omega Ratio Rank: 47
AIPO Calmar Ratio Rank: 53
AIPO Martin Ratio Rank: 54

BITI

BITI Risk / Return Rank: 51
BITI Sharpe Ratio Rank: 51
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 62
BITI Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIPO vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance AI & Power Infrastructure ETF (AIPO) 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.

	AIPO	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.28	-0.03
Sortino ratio: Return per unit of downside risk	1.74	1.86	-0.11
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.93	2.24	-0.30
Martin ratio: Return relative to average drawdown	6.41	5.45	+0.96

AIPO vs. BITI - Sharpe Ratio Comparison

The current AIPO Sharpe Ratio is 1.26, which is comparable to the BITI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of AIPO 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

AIPO vs. BITI - Drawdown Comparison

The maximum AIPO drawdown since its inception was -24.36%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for AIPO and BITI.

Drawdown Indicators

	AIPO	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-24.36%	-92.16%	+67.80%
Max Drawdown (1Y) Largest decline over 1 year	-24.36%	-25.28%	+0.92%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-14.84%	-86.33%	+71.49%
Average Drawdown Average peak-to-trough decline	-5.31%	-68.61%	+63.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.33%	10.37%	-3.04%

Volatility

AIPO vs. BITI - Volatility Comparison

Defiance AI & Power Infrastructure ETF (AIPO) has a higher volatility of 14.74% compared to ProShares Short Bitcoin ETF (BITI) at 8.93%. This indicates that AIPO's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIPO	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.74%	8.93%	+5.81%
Volatility (6M) Calculated over the trailing 6-month period	29.87%	33.35%	-3.48%
Volatility (1Y) Calculated over the trailing 1-year period	37.61%	44.25%	-6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.27%	52.01%	-14.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.27%	52.01%	-14.74%

AIPO vs. BITI - Expense Ratio Comparison

AIPO has a 0.69% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

AIPO vs. BITI - Dividend Comparison

AIPO's dividend yield for the trailing twelve months is around 0.01%, less than BITI's 21.80% yield.

Position	TTM	2025	2024	2023	2022
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%
BITI ProShares Short Bitcoin ETF	21.80%	1.60%	3.91%	3.33%	0.06%

Frequently Asked Questions

Can I hold both AIPO and BITI in my portfolio?

AIPO and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIPO or BITI?

AIPO has higher volatility (14.74%) compared to BITI (8.93%). In terms of maximum drawdown, AIPO dropped -24.36% vs BITI's -92.16%.

Which ETF is better, AIPO or BITI?

On 1-year performance, BITI leads with 56.28% vs 46.89% for AIPO. On fees, AIPO is cheaper at 0.69% per year. On volatility, BITI has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIPO or BITI?

Over the 1-year period, BITI has performed better with a 56.28% return vs 46.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIPO or BITI?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 21.80%, compared with 0.01% for AIPO.

What is the main difference between AIPO and BITI?

AIPO is categorized as Artificial Intelligence, while BITI is Cryptocurrency. AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Defiance and ProShares. Their fees differ too: 0.69% for AIPO and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.28 vs 1.26), 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.