BIT vs. BITO
BIT (BlackRock Multi-Sector Income Trust) is a stock, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past 3 years, BIT returned 6.91%/yr vs 19.33%/yr for BITO. At a 0.22 correlation, their price movements are largely independent.
Performance
BIT vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, BIT achieves a 0.28% return, which is significantly higher than BITO's -27.53% return.
BIT
- 1D
- 0.16%
- 1M
- 0.34%
- YTD
- 0.28%
- 6M
- 0.20%
- 1Y
- -1.01%
- 3Y*
- 6.91%
- 5Y*
- 2.37%
- 10Y*
- 7.35%
BITO
- 1D
- 2.34%
- 1M
- -15.24%
- YTD
- -27.53%
- 6M
- -28.30%
- 1Y
- -40.14%
- 3Y*
- 19.33%
- 5Y*
- —
- 10Y*
- —
BIT vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BIT BlackRock Multi-Sector Income Trust | 0.28% | 2.31% | 7.43% | 16.78% | -14.41% | 0.15% |
BITO ProShares Bitcoin Strategy ETF | -27.53% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between BIT and BITO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.22 |
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Return for Risk
BIT vs. BITO — Risk / Return Rank
BIT
BITO
BIT vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Multi-Sector Income Trust (BIT) and ProShares Bitcoin Strategy ETF (BITO). 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.
| BIT | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.86 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.76 | +0.65 |
| Martin ratioReturn relative to average drawdown | -0.21 | -1.29 | +1.08 |
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Drawdowns
BIT vs. BITO - Drawdown Comparison
The maximum BIT drawdown since its inception was -43.54%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BIT and BITO.
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Drawdown Indicators
| BIT | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.54% | -77.86% | +34.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.99% | -53.10% | +44.11% |
Max Drawdown (3Y)Largest decline over 3 years | -10.42% | -53.10% | +42.68% |
Max Drawdown (5Y)Largest decline over 5 years | -23.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.54% | — | — |
Current DrawdownCurrent decline from peak | -5.27% | -50.02% | +44.75% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -36.85% | +31.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.81% | 31.11% | -26.30% |
Volatility
BIT vs. BITO - Volatility Comparison
The current volatility for BlackRock Multi-Sector Income Trust (BIT) is 2.66%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.60%. This indicates that BIT experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIT | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 12.60% | -9.94% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 34.26% | -28.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.29% | 44.05% | -35.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.07% | 55.02% | -42.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.01% | 55.02% | -39.01% |
Dividends
BIT vs. BITO - Dividend Comparison
BIT's dividend yield for the trailing twelve months is around 11.95%, less than BITO's 68.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIT BlackRock Multi-Sector Income Trust | 11.95% | 11.15% | 10.17% | 9.90% | 9.58% | 8.18% | 8.46% | 8.84% | 9.12% | 8.44% | 11.65% | 8.66% |
BITO ProShares Bitcoin Strategy ETF | 68.72% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIT and BITO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (12.60%) compared to BIT (2.66%). In terms of maximum drawdown, BIT dropped -43.54% vs BITO's -77.86%.
BIT currently has the higher Sharpe Ratio (-0.12 vs -0.92), 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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