BBP vs. BITI

Last updated Jul 18, 2026

BBP (Virtus LifeSci Biotech Products ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BBP is a Health & Biotech Equities fund tracking the LifeSci Biotechnology Products Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, BBP returned 21.78%/yr vs -31.71%/yr for BITI. At a correlation of -0.28, they often move in opposite directions. BBP charges 0.79%/yr vs 1.03%/yr for BITI.

Performance

BBP vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus LifeSci Biotech Products ETF (BBP) 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, BBP achieves a 22.28% return, which is significantly lower than BITI's 24.73% return.

BBP

• 1D: 0.82%
• 1M: 9.30%
• 6M: 21.45%
• YTD: 22.28%
• 1Y: 55.94%
• 3Y*: 21.78%
• 5Y*: 13.94%
• 10Y*: 13.24%

BITI

• 1D: 0.20%
• 1M: -0.52%
• 6M: 36.51%
• YTD: 24.73%
• 1Y: 64.56%
• 3Y*: -31.71%
• 5Y*: —
• 10Y*: —

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

BBP vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BBP Virtus LifeSci Biotech Products ETF	22.28%	33.15%	3.32%	17.88%	29.44%
BITI ProShares Short Bitcoin ETF	24.73%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between BBP and BITI is -0.30, 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	-0.30
Correlation (3Y) Calculated over the trailing 3-year period	-0.27
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.28

Return for Risk

BBP vs. BITI — Risk / Return Rank

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

BBP

BBP Risk / Return Rank: 89
BBP Sharpe Ratio Rank: 89
BBP Sortino Ratio Rank: 88
BBP Omega Ratio Rank: 81
BBP Calmar Ratio Rank: 95
BBP Martin Ratio Rank: 93

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 54
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 65
BITI Martin Ratio Rank: 48

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.

BBP vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus LifeSci Biotech Products ETF (BBP) 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.

	BBP	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.47	+0.87
Sortino ratio: Return per unit of downside risk	3.21	2.04	+1.17
Omega ratio: Gain probability vs. loss probability	1.38	1.25	+0.13
Calmar ratio: Return relative to maximum drawdown	6.06	2.57	+3.49
Martin ratio: Return relative to average drawdown	18.25	6.36	+11.88

BBP vs. BITI - Sharpe Ratio Comparison

The current BBP Sharpe Ratio is 2.34, which is higher than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of BBP 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

BBP vs. BITI - Drawdown Comparison

The maximum BBP drawdown since its inception was -44.32%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BBP and BITI.

Drawdown Indicators

	BBP	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-44.32%	-92.16%	+47.84%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-25.28%	+16.00%
Max Drawdown (3Y) Largest decline over 3 years	-26.09%	-84.63%	+58.54%
Max Drawdown (5Y) Largest decline over 5 years	-37.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.32%	—	—
Current Drawdown Current decline from peak	-5.70%	-86.38%	+80.68%
Average Drawdown Average peak-to-trough decline	-11.92%	-68.42%	+56.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	10.18%	-7.10%

Volatility

BBP vs. BITI - Volatility Comparison

The current volatility for Virtus LifeSci Biotech Products ETF (BBP) is 7.60%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.69%. This indicates that BBP 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

	BBP	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	10.69%	-3.09%
Volatility (6M) Calculated over the trailing 6-month period	19.24%	34.09%	-14.85%
Volatility (1Y) Calculated over the trailing 1-year period	24.03%	44.07%	-20.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.44%	52.21%	-25.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	52.21%	-24.85%

BBP vs. BITI - Expense Ratio Comparison

BBP has a 0.79% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

BBP vs. BITI - Dividend Comparison

BBP has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBP Virtus LifeSci Biotech Products ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.00%	1.29%
BITI ProShares Short Bitcoin ETF	15.59%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBP and BITI in my portfolio?

BBP and BITI have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBP or BITI?

BITI has higher volatility (10.69%) compared to BBP (7.60%). In terms of maximum drawdown, BBP dropped -44.32% vs BITI's -92.16%.

Which ETF is better, BBP or BITI?

On 3-year performance, BBP leads with 21.78% vs -31.71% for BITI. On fees, BBP is cheaper at 0.79% per year. On volatility, BBP has been the lower-risk option at 7.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBP or BITI?

Over the 3-year period, BBP has performed better with a 21.78% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBP or BITI?

BBP is cheaper with a 0.79% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.59%, compared with 0.00% for BBP.

What is the main difference between BBP and BITI?

BBP is categorized as Health & Biotech Equities, while BITI is Cryptocurrency. BBP tracks LifeSci Biotechnology Products Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Virtus Investment Partners and ProShares. Their fees differ too: 0.79% for BBP and 1.03% for BITI.

Which has better risk-adjusted returns?

BBP currently has the higher Sharpe Ratio (2.34 vs 1.47), 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.