BCHI vs. SBIT

Last updated Aug 2, 2026

BCHI (GMO Beyond China ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - BCHI is a Emerging Markets Equities fund actively managed by GMO, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). BCHI is actively managed, while SBIT is passively managed. Over the past year, BCHI returned 36.96% vs 93.05% for SBIT. Their -0.39 correlation means they have often moved in opposite directions in the past. BCHI charges 0.65%/yr vs 0.95%/yr for SBIT.

Performance

BCHI vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Beyond China ETF (BCHI) 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, BCHI achieves a 20.06% return, which is significantly lower than SBIT's 35.42% return.

BCHI

• 1D: 0.10%
• 1M: -4.22%
• 6M: 12.35%
• YTD: 20.06%
• 1Y: 36.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 33.03%

SBIT

• 1D: -2.88%
• 1M: -8.74%
• 6M: 12.84%
• YTD: 35.42%
• 1Y: 93.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -43.26%

*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)
BCHI GMO Beyond China ETF	$56.39K	$51.68K	$47.34K
SBIT Proshares Ultrashort Bitcoin ETF	$30.10M	$32.07M	$46.36M

BCHI vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
BCHI GMO Beyond China ETF	20.06%	26.33%
SBIT Proshares Ultrashort Bitcoin ETF	35.42%	-15.06%

Correlation

The correlation between BCHI and SBIT is -0.40, 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.	-0.40
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.39

Return for Risk

BCHI vs. SBIT — Risk / Return Rank

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

BCHI

BCHI Risk / Return Rank: 65
BCHI Sharpe Ratio Rank: 66
BCHI Sortino Ratio Rank: 63
BCHI Omega Ratio Rank: 70
BCHI Calmar Ratio Rank: 66
BCHI Martin Ratio Rank: 62

SBIT

SBIT Risk / Return Rank: 45
SBIT Sharpe Ratio Rank: 41
SBIT Sortino Ratio Rank: 48
SBIT Omega Ratio Rank: 44
SBIT Calmar Ratio Rank: 53
SBIT Martin Ratio Rank: 40

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.

BCHI vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Beyond China ETF (BCHI) 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.

	BCHI	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.06	+0.48
Sortino ratio: Return per unit of downside risk	2.12	1.78	+0.33
Omega ratio: Gain probability vs. loss probability	1.29	1.21	+0.08
Calmar ratio: Return relative to maximum drawdown	2.33	1.95	+0.37
Martin ratio: Return relative to average drawdown	7.51	4.30	+3.20

BCHI vs. SBIT - Sharpe Ratio Comparison

The current BCHI Sharpe Ratio is 1.54, which is higher than the SBIT Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of BCHI 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

BCHI vs. SBIT - Drawdown Comparison

The maximum BCHI drawdown since its inception was -16.01%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for BCHI and SBIT.

Drawdown Indicators

	BCHI	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-16.01%	-91.35%	+75.34%
Max Drawdown (1Y) Largest decline over 1 year	-16.01%	-47.94%	+31.93%
Current Drawdown Current decline from peak	-12.64%	-78.51%	+65.87%
Average Drawdown Average peak-to-trough decline	-2.82%	-69.09%	+66.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.95%	21.71%	-16.76%

Volatility

BCHI vs. SBIT - Volatility Comparison

The current volatility for GMO Beyond China ETF (BCHI) is 9.11%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 17.65%. This indicates that BCHI 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

	BCHI	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.11%	17.65%	-8.54%
Volatility (6M) Calculated over the trailing 6-month period	22.63%	67.17%	-44.54%
Volatility (1Y) Calculated over the trailing 1-year period	24.26%	88.67%	-64.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.92%	96.04%	-73.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.92%	96.04%	-73.12%

BCHI vs. SBIT - Expense Ratio Comparison

BCHI has a 0.65% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

BCHI vs. SBIT - Dividend Comparison

BCHI's dividend yield for the trailing twelve months is around 25.19%, more than SBIT's 5.09% yield.

Position	TTM	2025	2024
BCHI GMO Beyond China ETF	25.19%	3.67%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	5.09%	0.52%	1.00%

Frequently Asked Questions

Can I hold both BCHI and SBIT in my portfolio?

BCHI and SBIT have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCHI or SBIT?

SBIT has higher volatility (17.65%) compared to BCHI (9.11%). In terms of maximum drawdown, BCHI dropped -16.01% vs SBIT's -91.35%.

Which ETF is better, BCHI or SBIT?

On 1-year performance, SBIT leads with 93.05% vs 36.96% for BCHI. On fees, BCHI is cheaper at 0.65% per year. On volatility, BCHI has been the lower-risk option at 9.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCHI or SBIT?

Over the 1-year period, SBIT has performed better with a 93.05% return vs 36.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCHI or SBIT?

BCHI is cheaper with a 0.65% expense ratio, compared with 0.95% for SBIT.

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

BCHI has the higher dividend yield at 25.19%, compared with 5.09% for SBIT.

What is the main difference between BCHI and SBIT?

BCHI is categorized as Emerging Markets Equities, while SBIT is Cryptocurrency. They also come from different issuers: GMO and ProShares. Their fees differ too: 0.65% for BCHI and 0.95% for SBIT.

Which has better risk-adjusted returns?

BCHI currently has the higher Sharpe Ratio (1.54 vs 1.06), 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.