BETH vs. IBIT
BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. BETH is actively managed, while IBIT is passively managed. Over the past year, BETH returned -40.13% vs -38.74% for IBIT. With a 0.99 correlation, they move nearly in lockstep. BETH charges 0.95%/yr vs 0.25%/yr for IBIT.
Performance
BETH vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, BETH achieves a -28.99% return, which is significantly lower than IBIT's -25.48% return.
BETH
- 1D
- -3.09%
- 1M
- -19.49%
- YTD
- -28.99%
- 6M
- -33.42%
- 1Y
- -40.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BETH vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF | -28.99% | -11.20% | 68.33% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between BETH and IBIT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.99 |
The correlation between BETH and IBIT has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
BETH vs. IBIT — Risk / Return Rank
BETH
IBIT
BETH vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and iShares Bitcoin Trust ETF (IBIT). 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.
| BETH | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.86 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.79 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.36 | +0.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BETH | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.86 | -0.89 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.30 | +0.12 |
Drawdowns
BETH vs. IBIT - Drawdown Comparison
The maximum BETH drawdown since its inception was -52.55%, which is greater than IBIT's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for BETH and IBIT.
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Drawdown Indicators
| BETH | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.55% | -49.36% | -3.19% |
Max Drawdown (1Y)Largest decline over 1 year | -52.55% | -49.36% | -3.19% |
Current DrawdownCurrent decline from peak | -52.01% | -48.10% | -3.91% |
Average DrawdownAverage peak-to-trough decline | -17.60% | -16.02% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.70% | 28.44% | +2.26% |
Volatility
BETH vs. IBIT - Volatility Comparison
ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 9.53% and 9.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BETH | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.53% | 9.50% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 36.39% | 34.44% | +1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.81% | 43.73% | +3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.18% | 50.19% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.18% | 50.19% | +0.99% |
BETH vs. IBIT - Expense Ratio Comparison
BETH has a 0.95% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
BETH vs. IBIT - Dividend Comparison
BETH's dividend yield for the trailing twelve months is around 57.55%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF | 57.55% | 57.68% | 19.71% | 0.36% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, BETH and IBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BETH has higher volatility (9.53%) compared to IBIT (9.50%). In terms of maximum drawdown, BETH dropped -52.55% vs IBIT's -49.36%.
On 1-year performance, IBIT leads with -38.74% vs -40.13% for BETH. On fees, IBIT is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIT has performed better with a -38.74% return vs -40.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.95% for BETH.
BETH has the higher dividend yield at 57.55%, compared with 0.00% for IBIT.
They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for BETH and 0.25% for IBIT.
BETH currently has the higher Sharpe Ratio (-0.86 vs -0.89), 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.
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