ARKB vs. BITX

Last updated Jun 12, 2026

ARKB (ARK 21Shares Bitcoin ETF) and BITX (2x Bitcoin Strategy ETF) are both Cryptocurrency funds - ARKB tracks the CME CF Bitcoin Reference Rate - New York Variant while BITX tracks the S&P CME Bitcoin Futures Daily Roll Index (200%). Both are passively managed. Over the past year, ARKB returned -41.68% vs -75.90% for BITX. With a 1.00 correlation, they move nearly in lockstep. ARKB charges 0.21%/yr vs 2.38%/yr for BITX.

Performance

ARKB vs. BITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK 21Shares Bitcoin ETF (ARKB) and 2x Bitcoin Strategy ETF (BITX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKB achieves a -27.41% return, which is significantly higher than BITX's -55.42% return.

ARKB

• 1D: 2.73%
• 1M: -21.34%
• YTD: -27.41%
• 6M: -30.82%
• 1Y: -41.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITX

• 1D: 5.31%
• 1M: -39.81%
• YTD: -55.42%
• 6M: -60.16%
• 1Y: -75.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARKB vs. BITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ARKB ARK 21Shares Bitcoin ETF	-27.41%	-6.59%	86.54%
BITX 2x Bitcoin Strategy ETF	-55.42%	-38.71%	124.62%

Correlation

The correlation between ARKB and BITX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	1.00

The correlation between ARKB and BITX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

ARKB vs. BITX — Risk / Return Rank

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

ARKB

ARKB Risk / Return Rank: 2
ARKB Sharpe Ratio Rank: 2
ARKB Sortino Ratio Rank: 2
ARKB Omega Ratio Rank: 2
ARKB Calmar Ratio Rank: 2
ARKB Martin Ratio Rank: 2

BITX

BITX Risk / Return Rank: 2
BITX Sharpe Ratio Rank: 3
BITX Sortino Ratio Rank: 1
BITX Omega Ratio Rank: 1
BITX Calmar Ratio Rank: 1
BITX Martin Ratio Rank: 1

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.

ARKB vs. BITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK 21Shares Bitcoin ETF (ARKB) and 2x Bitcoin Strategy ETF (BITX). 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.

	ARKB	BITX	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	-0.87	-0.08
Sortino ratio: Return per unit of downside risk	-1.36	-1.58	+0.22
Omega ratio: Gain probability vs. loss probability	0.85	0.82	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.80	-0.93	+0.12
Martin ratio: Return relative to average drawdown	-1.42	-1.47	+0.05

ARKB vs. BITX - Sharpe Ratio Comparison

The current ARKB Sharpe Ratio is -0.95, which is comparable to the BITX Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of ARKB and BITX, 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

ARKB vs. BITX - Drawdown Comparison

The maximum ARKB drawdown since its inception was -52.04%, smaller than the maximum BITX drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for ARKB and BITX.

Drawdown Indicators

	ARKB	BITX	Difference
Max Drawdown Largest peak-to-trough decline	-52.04%	-82.16%	+30.12%
Max Drawdown (1Y) Largest decline over 1 year	-52.04%	-82.16%	+30.12%
Current Drawdown Current decline from peak	-49.45%	-80.30%	+30.85%
Average Drawdown Average peak-to-trough decline	-16.50%	-32.06%	+15.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.44%	51.55%	-22.11%

Volatility

ARKB vs. BITX - Volatility Comparison

The current volatility for ARK 21Shares Bitcoin ETF (ARKB) is 11.93%, while 2x Bitcoin Strategy ETF (BITX) has a volatility of 23.98%. This indicates that ARKB experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKB	BITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.93%	23.98%	-12.05%
Volatility (6M) Calculated over the trailing 6-month period	34.32%	69.16%	-34.84%
Volatility (1Y) Calculated over the trailing 1-year period	43.91%	87.51%	-43.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.13%	98.30%	-48.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.13%	98.30%	-48.17%

ARKB vs. BITX - Expense Ratio Comparison

ARKB has a 0.21% expense ratio, which is lower than BITX's 2.38% expense ratio.

Dividends

ARKB vs. BITX - Dividend Comparison

ARKB has not paid dividends to shareholders, while BITX's dividend yield for the trailing twelve months is around 35.57%.

Position	TTM	2025	2024
ARKB ARK 21Shares Bitcoin ETF	0.00%	0.00%	0.00%
BITX 2x Bitcoin Strategy ETF	35.57%	21.69%	10.70%

Frequently Asked Questions

Can I hold both ARKB and BITX in my portfolio?

With a correlation of 1.00, ARKB and BITX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ARKB or BITX?

BITX has higher volatility (23.98%) compared to ARKB (11.93%). In terms of maximum drawdown, ARKB dropped -52.04% vs BITX's -82.16%.

Which ETF is better, ARKB or BITX?

On 1-year performance, ARKB leads with -41.68% vs -75.90% for BITX. On fees, ARKB is cheaper at 0.21% per year. On volatility, ARKB has been the lower-risk option at 11.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKB or BITX?

Over the 1-year period, ARKB has performed better with a -41.68% return vs -75.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKB or BITX?

ARKB is cheaper with a 0.21% expense ratio, compared with 2.38% for BITX.

Which ETF pays a higher dividend yield, ARKB or BITX?

BITX has the higher dividend yield at 35.57%, compared with 0.00% for ARKB.

What is the main difference between ARKB and BITX?

ARKB tracks CME CF Bitcoin Reference Rate - New York Variant, while BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%). They also come from different issuers: ARK and Volatility Shares. Their fees differ too: 0.21% for ARKB and 2.38% for BITX.

Which has better risk-adjusted returns?

BITX currently has the higher Sharpe Ratio (-0.87 vs -0.95), 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.