AUGZ vs. SBIT

Last updated Aug 2, 2026

AUGZ (TrueShares Structured Outcome (August) ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - AUGZ is a Defined Outcome fund tracking the S&P 500 Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, AUGZ returned 15.39% vs 98.77% for SBIT. Their -0.42 correlation means they have often moved in opposite directions in the past. AUGZ charges 0.79%/yr vs 0.95%/yr for SBIT.

Performance

AUGZ vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (August) ETF (AUGZ) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUGZ achieves a 7.11% return, which is significantly lower than SBIT's 39.44% return.

AUGZ

• 1D: 0.80%
• 1M: 0.15%
• 6M: 6.16%
• YTD: 7.11%
• 1Y: 15.39%
• 3Y*: 14.20%
• 5Y*: 9.79%
• 10Y*: —
• ALL TIME*: 12.49%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

*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)
AUGZ TrueShares Structured Outcome (August) ETF	$28.12K	$49.05K	$654.57K
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

AUGZ vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AUGZ TrueShares Structured Outcome (August) ETF	7.11%	13.49%	9.52%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-73.74%

Correlation

The correlation between AUGZ and SBIT is -0.47, 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.	-0.47
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.42

Return for Risk

AUGZ vs. SBIT — Risk / Return Rank

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

AUGZ

AUGZ Risk / Return Rank: 53
AUGZ Sharpe Ratio Rank: 52
AUGZ Sortino Ratio Rank: 50
AUGZ Omega Ratio Rank: 50
AUGZ Calmar Ratio Rank: 52
AUGZ Martin Ratio Rank: 60

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

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.

AUGZ vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (August) ETF (AUGZ) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.

	AUGZ	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.27	0.00
Sortino ratio: Return per unit of downside risk	1.80	1.95	-0.15
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.86	2.35	-0.49
Martin ratio: Return relative to average drawdown	7.17	5.19	+1.98

AUGZ vs. SBIT - Sharpe Ratio Comparison

The current AUGZ Sharpe Ratio is 1.27, which is comparable to the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of AUGZ and SBIT, 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

AUGZ vs. SBIT - Drawdown Comparison

The maximum AUGZ drawdown since its inception was -15.67%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for AUGZ and SBIT.

Drawdown Indicators

	AUGZ	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-91.35%	+75.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-47.94%	+40.71%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	—	—
Current Drawdown Current decline from peak	-1.62%	-77.87%	+76.25%
Average Drawdown Average peak-to-trough decline	-3.08%	-69.07%	+65.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	21.67%	-19.79%

Volatility

AUGZ vs. SBIT - Volatility Comparison

The current volatility for TrueShares Structured Outcome (August) ETF (AUGZ) is 3.20%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that AUGZ experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUGZ	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	18.09%	-14.89%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	67.10%	-58.60%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	88.65%	-78.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.10%	96.10%	-84.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.13%	96.10%	-83.97%

AUGZ vs. SBIT - Expense Ratio Comparison

AUGZ has a 0.79% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

AUGZ vs. SBIT - Dividend Comparison

AUGZ's dividend yield for the trailing twelve months is around 3.39%, less than SBIT's 4.10% yield.

Position	TTM	2025	2024	2023	2022
AUGZ TrueShares Structured Outcome (August) ETF	3.39%	3.63%	4.08%	3.42%	0.41%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AUGZ and SBIT in my portfolio?

AUGZ and SBIT have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUGZ or SBIT?

SBIT has higher volatility (18.09%) compared to AUGZ (3.20%). In terms of maximum drawdown, AUGZ dropped -15.67% vs SBIT's -91.35%.

Which ETF is better, AUGZ or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 15.39% for AUGZ. On fees, AUGZ is cheaper at 0.79% per year. On volatility, AUGZ has been the lower-risk option at 3.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUGZ or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 15.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUGZ or SBIT?

AUGZ is cheaper with a 0.79% expense ratio, compared with 0.95% for SBIT.

Which ETF pays a higher dividend yield, AUGZ or SBIT?

SBIT has the higher dividend yield at 4.03%, compared with 3.39% for AUGZ.

What is the main difference between AUGZ and SBIT?

AUGZ is categorized as Defined Outcome, while SBIT is Cryptocurrency. AUGZ tracks S&P 500 Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: TrueShares and ProShares. Their fees differ too: 0.79% for AUGZ and 0.95% for SBIT.

Which has better risk-adjusted returns?

AUGZ currently has the higher Sharpe Ratio (1.27 vs 1.27), 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.