BITI vs. AESR

Last updated Jul 17, 2026

BITI (ProShares Short Bitcoin ETF) and AESR (Anfield U.S. Equity Sector Rotation ETF) are both exchange-traded funds - BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index, while AESR is a Large Cap Growth Equities fund actively managed by Regents Park Funds. BITI is passively managed, while AESR is actively managed. Over the past 3 years, BITI returned -31.62%/yr vs 23.27%/yr for AESR. At a correlation of -0.39, they often move in opposite directions. BITI charges 1.03%/yr vs 1.46%/yr for AESR.

Performance

BITI vs. AESR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Bitcoin ETF (BITI) and Anfield U.S. Equity Sector Rotation ETF (AESR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITI achieves a 24.48% return, which is significantly higher than AESR's 16.79% return.

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

AESR

• 1D: -1.25%
• 1M: -2.94%
• 6M: 12.24%
• YTD: 16.79%
• 1Y: 26.85%
• 3Y*: 23.27%
• 5Y*: 13.97%
• 10Y*: —

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

BITI vs. AESR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%
AESR Anfield U.S. Equity Sector Rotation ETF	16.79%	20.34%	25.37%	21.03%	6.87%

Correlation

The correlation between BITI and AESR is -0.52, 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	-0.52
Correlation (3Y) Calculated over the trailing 3-year period	-0.38
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.39

The correlation between BITI and AESR shifts across timeframes, from -0.52 (1 year) to -0.38 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BITI vs. AESR — Risk / Return Rank

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

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

AESR

AESR Risk / Return Rank: 58
AESR Sharpe Ratio Rank: 52
AESR Sortino Ratio Rank: 49
AESR Omega Ratio Rank: 50
AESR Calmar Ratio Rank: 68
AESR Martin Ratio Rank: 73

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.

BITI vs. AESR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Bitcoin ETF (BITI) and Anfield U.S. Equity Sector Rotation ETF (AESR). 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.

	BITI	AESR	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.43	+0.04
Sortino ratio: Return per unit of downside risk	2.04	1.97	+0.07
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.01
Calmar ratio: Return relative to maximum drawdown	2.57	2.75	-0.18
Martin ratio: Return relative to average drawdown	6.38	10.59	-4.22

BITI vs. AESR - Sharpe Ratio Comparison

The current BITI Sharpe Ratio is 1.47, which is comparable to the AESR Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of BITI and AESR, 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

BITI vs. AESR - Drawdown Comparison

The maximum BITI drawdown since its inception was -92.16%, which is greater than AESR's maximum drawdown of -31.06%. Use the drawdown chart below to compare losses from any high point for BITI and AESR.

Drawdown Indicators

	BITI	AESR	Difference
Max Drawdown Largest peak-to-trough decline	-92.16%	-31.06%	-61.10%
Max Drawdown (1Y) Largest decline over 1 year	-25.28%	-9.82%	-15.46%
Max Drawdown (3Y) Largest decline over 3 years	-84.63%	-19.85%	-64.78%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.04%	—
Current Drawdown Current decline from peak	-86.41%	-4.85%	-81.56%
Average Drawdown Average peak-to-trough decline	-68.40%	-5.95%	-62.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.16%	2.54%	+7.62%

Volatility

BITI vs. AESR - Volatility Comparison

ProShares Short Bitcoin ETF (BITI) has a higher volatility of 10.76% compared to Anfield U.S. Equity Sector Rotation ETF (AESR) at 7.39%. This indicates that BITI's price experiences larger fluctuations and is considered to be riskier than AESR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITI	AESR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.76%	7.39%	+3.37%
Volatility (6M) Calculated over the trailing 6-month period	34.28%	15.86%	+18.42%
Volatility (1Y) Calculated over the trailing 1-year period	44.15%	18.81%	+25.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.24%	18.36%	+33.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.24%	20.64%	+31.60%

BITI vs. AESR - Expense Ratio Comparison

BITI has a 1.03% expense ratio, which is lower than AESR's 1.46% expense ratio.

Dividends

BITI vs. AESR - Dividend Comparison

BITI's dividend yield for the trailing twelve months is around 15.62%, less than AESR's 19.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AESR Anfield U.S. Equity Sector Rotation ETF	19.71%	23.02%	0.17%	0.33%	0.73%	6.59%	1.06%	0.33%
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITI and AESR in my portfolio?

BITI and AESR have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITI or AESR?

BITI has higher volatility (10.76%) compared to AESR (7.39%). In terms of maximum drawdown, BITI dropped -92.16% vs AESR's -31.06%.

Which ETF is better, BITI or AESR?

On 3-year performance, AESR leads with 23.27% vs -31.62% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, AESR has been the lower-risk option at 7.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITI or AESR?

Over the 3-year period, AESR has performed better with a 23.27% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITI or AESR?

BITI is cheaper with a 1.03% expense ratio, compared with 1.46% for AESR.

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

AESR has the higher dividend yield at 19.71%, compared with 15.62% for BITI.

What is the main difference between BITI and AESR?

BITI is categorized as Cryptocurrency, while AESR is Large Cap Growth Equities. They also come from different issuers: ProShares and Regents Park Funds. Their fees differ too: 1.03% for BITI and 1.46% for AESR.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 1.43), 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.