BCOR vs. BITI

Last updated Aug 2, 2026

BCOR (Grayscale Bitcoin Adopters ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BCOR is a Blockchain fund tracking the Indxx Bitcoin Adopters Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, BCOR returned -30.47% vs 58.64% for BITI. Their -0.79 correlation means they have often moved in opposite directions in the past. BCOR charges 0.59%/yr vs 1.03%/yr for BITI.

Performance

BCOR vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Adopters ETF (BCOR) 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, BCOR achieves a -16.45% return, which is significantly lower than BITI's 27.11% return.

BCOR

• 1D: -2.60%
• 1M: -7.05%
• 6M: -17.04%
• YTD: -16.45%
• 1Y: -30.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -9.47%

BITI

• 1D: 3.01%
• 1M: -2.58%
• 6M: 22.77%
• YTD: 27.11%
• 1Y: 58.64%
• 3Y*: -31.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.65%

*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)
BCOR Grayscale Bitcoin Adopters ETF	$6.33K	$9.47K	$14.95K
BITI ProShares Short Bitcoin ETF	$24.10M	$26.49M	$38.71M

BCOR vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
BCOR Grayscale Bitcoin Adopters ETF	-16.45%	5.68%
BITI ProShares Short Bitcoin ETF	27.11%	5.43%

Correlation

The correlation between BCOR and BITI is -0.82, 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.	-0.82
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	-0.79

The correlation between BCOR and BITI has been stable across timeframes, ranging from -0.82 to -0.79 - a consistent structural relationship.

Return for Risk

BCOR vs. BITI — Risk / Return Rank

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

BCOR

BCOR Risk / Return Rank: 3
BCOR Sharpe Ratio Rank: 3
BCOR Sortino Ratio Rank: 3
BCOR Omega Ratio Rank: 4
BCOR Calmar Ratio Rank: 3
BCOR Martin Ratio Rank: 3

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

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.

BCOR vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Adopters ETF (BCOR) 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.

	BCOR	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-0.79	1.45	-2.24
Sortino ratio: Return per unit of downside risk	-1.03	2.02	-3.04
Omega ratio: Gain probability vs. loss probability	0.89	1.24	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.79	2.53	-3.32
Martin ratio: Return relative to average drawdown	-1.25	6.17	-7.43

BCOR vs. BITI - Sharpe Ratio Comparison

The current BCOR Sharpe Ratio is -0.79, which is lower than the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of BCOR 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

BCOR vs. BITI - Drawdown Comparison

The maximum BCOR drawdown since its inception was -42.99%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BCOR and BITI.

Drawdown Indicators

	BCOR	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-42.99%	-92.16%	+49.17%
Max Drawdown (1Y) Largest decline over 1 year	-42.99%	-25.28%	-17.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-40.90%	-86.12%	+45.22%
Average Drawdown Average peak-to-trough decline	-20.38%	-68.59%	+48.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.14%	10.35%	+16.79%

Volatility

BCOR vs. BITI - Volatility Comparison

Grayscale Bitcoin Adopters ETF (BCOR) has a higher volatility of 12.98% compared to ProShares Short Bitcoin ETF (BITI) at 9.13%. This indicates that BCOR's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCOR	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.98%	9.13%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	34.02%	33.31%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	43.11%	44.23%	-1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.51%	52.03%	-8.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.51%	52.03%	-8.52%

BCOR vs. BITI - Expense Ratio Comparison

BCOR has a 0.59% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

BCOR vs. BITI - Dividend Comparison

BCOR's dividend yield for the trailing twelve months is around 3.77%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BCOR Grayscale Bitcoin Adopters ETF	3.77%	3.10%	0.00%	0.00%	0.00%
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%

Frequently Asked Questions

Can I hold both BCOR and BITI in my portfolio?

BCOR and BITI have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCOR or BITI?

BCOR has higher volatility (12.98%) compared to BITI (9.13%). In terms of maximum drawdown, BCOR dropped -42.99% vs BITI's -92.16%.

Which ETF is better, BCOR or BITI?

On 1-year performance, BITI leads with 58.64% vs -30.47% for BCOR. On fees, BCOR is cheaper at 0.59% per year. On volatility, BITI has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCOR or BITI?

Over the 1-year period, BITI has performed better with a 58.64% return vs -30.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCOR or BITI?

BCOR is cheaper with a 0.59% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 3.77% for BCOR.

What is the main difference between BCOR and BITI?

BCOR is categorized as Blockchain, while BITI is Cryptocurrency. BCOR tracks Indxx Bitcoin Adopters Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Grayscale and ProShares. Their fees differ too: 0.59% for BCOR and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.45 vs -0.79), 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.