AUMI vs. SBIT

Last updated Jul 15, 2026

AUMI (Themes Gold Miners ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - AUMI is a Gold fund tracking the Solactive Global Pure Gold Miners Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, AUMI returned 42.73% vs 113.21% for SBIT. At a correlation of -0.22, they often move in opposite directions. AUMI charges 0.35%/yr vs 0.95%/yr for SBIT.

Performance

AUMI vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) 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, AUMI achieves a -15.44% return, which is significantly lower than SBIT's 33.13% return.

AUMI

• 1D: 2.02%
• 1M: -4.32%
• 6M: -22.34%
• YTD: -15.44%
• 1Y: 42.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: -7.55%
• 1M: -6.22%
• 6M: 56.76%
• YTD: 33.13%
• 1Y: 113.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUMI vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AUMI Themes Gold Miners ETF	-15.44%	164.18%	19.49%
SBIT Proshares Ultrashort Bitcoin ETF	33.13%	-25.11%	-73.74%

Correlation

The correlation between AUMI and SBIT is -0.32, 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	-0.32
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.22

The correlation between AUMI and SBIT shifts across timeframes, from -0.32 (1 year) to -0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AUMI vs. SBIT — Risk / Return Rank

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

AUMI

AUMI Risk / Return Rank: 28
AUMI Sharpe Ratio Rank: 29
AUMI Sortino Ratio Rank: 29
AUMI Omega Ratio Rank: 30
AUMI Calmar Ratio Rank: 27
AUMI Martin Ratio Rank: 25

SBIT

SBIT Risk / Return Rank: 48
SBIT Sharpe Ratio Rank: 45
SBIT Sortino Ratio Rank: 48
SBIT Omega Ratio Rank: 44
SBIT Calmar Ratio Rank: 60
SBIT Martin Ratio Rank: 42

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.

AUMI vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) 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.

	AUMI	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.28	-0.43
Sortino ratio: Return per unit of downside risk	1.32	1.96	-0.64
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	1.09	2.37	-1.28
Martin ratio: Return relative to average drawdown	2.58	5.39	-2.81

AUMI vs. SBIT - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 0.85, which is lower than the SBIT Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of AUMI 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

AUMI vs. SBIT - Drawdown Comparison

The maximum AUMI drawdown since its inception was -39.28%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for AUMI and SBIT.

Drawdown Indicators

	AUMI	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-91.35%	+52.07%
Max Drawdown (1Y) Largest decline over 1 year	-39.28%	-47.94%	+8.66%
Current Drawdown Current decline from peak	-36.38%	-78.87%	+42.49%
Average Drawdown Average peak-to-trough decline	-8.19%	-68.85%	+60.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.60%	21.08%	-4.48%

Volatility

AUMI vs. SBIT - Volatility Comparison

The current volatility for Themes Gold Miners ETF (AUMI) is 14.50%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 23.66%. This indicates that AUMI 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

	AUMI	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.50%	23.66%	-9.16%
Volatility (6M) Calculated over the trailing 6-month period	41.22%	69.36%	-28.14%
Volatility (1Y) Calculated over the trailing 1-year period	50.50%	88.70%	-38.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.50%	96.93%	-54.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.50%	96.93%	-54.43%

AUMI vs. SBIT - Expense Ratio Comparison

AUMI has a 0.35% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

AUMI vs. SBIT - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 1.02%, less than SBIT's 4.30% yield.

Position	TTM	2025	2024
AUMI Themes Gold Miners ETF	1.02%	0.86%	1.84%
SBIT Proshares Ultrashort Bitcoin ETF	4.30%	0.52%	1.00%

Frequently Asked Questions

Can I hold both AUMI and SBIT in my portfolio?

AUMI and SBIT have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUMI or SBIT?

SBIT has higher volatility (23.66%) compared to AUMI (14.50%). In terms of maximum drawdown, AUMI dropped -39.28% vs SBIT's -91.35%.

Which ETF is better, AUMI or SBIT?

On 1-year performance, SBIT leads with 113.21% vs 42.73% for AUMI. On fees, AUMI is cheaper at 0.35% per year. On volatility, AUMI has been the lower-risk option at 14.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUMI or SBIT?

Over the 1-year period, SBIT has performed better with a 113.21% return vs 42.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUMI or SBIT?

AUMI is cheaper with a 0.35% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.30%, compared with 1.02% for AUMI.

What is the main difference between AUMI and SBIT?

AUMI is categorized as Gold, while SBIT is Cryptocurrency. AUMI tracks Solactive Global Pure Gold Miners Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Themes and ProShares. Their fees differ too: 0.35% for AUMI and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.28 vs 0.85), 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.