BITI vs. BFJL

Last updated Jul 17, 2026

BITI (ProShares Short Bitcoin ETF) and BFJL (FT Vest Bitcoin Strategy Floor15 ETF - July) are both exchange-traded funds - BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index, while BFJL is a Defined Outcome fund managed by First Trust. Over the past year, BITI returned 64.61% vs -15.77% for BFJL. At a correlation of -0.89, they often move in opposite directions. BITI charges 1.03%/yr vs 0.90%/yr for BFJL.

Performance

BITI vs. BFJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Bitcoin ETF (BITI) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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 BFJL's -4.47% return.

BITI

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

BFJL

• 1D: -0.40%
• 1M: 3.41%
• 6M: -7.73%
• YTD: -4.47%
• 1Y: -15.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITI vs. BFJL - Yearly Performance Comparison

	2026 (YTD)	2025
BITI ProShares Short Bitcoin ETF	24.48%	18.88%
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	-4.47%	-7.43%

Correlation

The correlation between BITI and BFJL is -0.89, 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	-0.89
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	-0.89

The correlation between BITI and BFJL has been stable across timeframes, ranging from -0.89 to -0.89 - a consistent structural relationship.

Return for Risk

BITI vs. BFJL — 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

BFJL

BFJL Risk / Return Rank: 2
BFJL Sharpe Ratio Rank: 0
BFJL Sortino Ratio Rank: 1
BFJL Omega Ratio Rank: 1
BFJL Calmar Ratio Rank: 3
BFJL Martin Ratio Rank: 4

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. BFJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Bitcoin ETF (BITI) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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	BFJL	Difference
Sharpe ratio: Return per unit of total volatility	1.47	-1.21	+2.68
Sortino ratio: Return per unit of downside risk	2.04	-1.63	+3.67
Omega ratio: Gain probability vs. loss probability	1.25	0.80	+0.44
Calmar ratio: Return relative to maximum drawdown	2.57	-0.74	+3.31
Martin ratio: Return relative to average drawdown	6.38	-1.03	+7.41

BITI vs. BFJL - Sharpe Ratio Comparison

The current BITI Sharpe Ratio is 1.47, which is higher than the BFJL Sharpe Ratio of -1.21. The chart below compares the historical Sharpe Ratios of BITI and BFJL, 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. BFJL - Drawdown Comparison

The maximum BITI drawdown since its inception was -92.16%, which is greater than BFJL's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for BITI and BFJL.

Drawdown Indicators

	BITI	BFJL	Difference
Max Drawdown Largest peak-to-trough decline	-92.16%	-21.27%	-70.89%
Max Drawdown (1Y) Largest decline over 1 year	-25.28%	-21.27%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	-84.63%	—	—
Current Drawdown Current decline from peak	-86.41%	-18.46%	-67.95%
Average Drawdown Average peak-to-trough decline	-68.40%	-12.67%	-55.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.16%	15.27%	-5.11%

Volatility

BITI vs. BFJL - Volatility Comparison

ProShares Short Bitcoin ETF (BITI) has a higher volatility of 10.76% compared to FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL) at 2.86%. This indicates that BITI's price experiences larger fluctuations and is considered to be riskier than BFJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITI	BFJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.76%	2.86%	+7.90%
Volatility (6M) Calculated over the trailing 6-month period	34.28%	6.80%	+27.48%
Volatility (1Y) Calculated over the trailing 1-year period	44.15%	13.16%	+30.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.24%	13.27%	+38.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.24%	13.27%	+38.97%

BITI vs. BFJL - Expense Ratio Comparison

BITI has a 1.03% expense ratio, which is higher than BFJL's 0.90% expense ratio.

Dividends

BITI vs. BFJL - Dividend Comparison

BITI's dividend yield for the trailing twelve months is around 15.62%, more than BFJL's 1.41% yield.

Position	TTM	2025	2024	2023	2022
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	1.41%	1.35%	0.00%	0.00%	0.00%
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%

Frequently Asked Questions

Can I hold both BITI and BFJL in my portfolio?

BITI and BFJL have a correlation of -0.89, 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 BFJL?

BITI has higher volatility (10.76%) compared to BFJL (2.86%). In terms of maximum drawdown, BITI dropped -92.16% vs BFJL's -21.27%.

Which ETF is better, BITI or BFJL?

On 1-year performance, BITI leads with 64.61% vs -15.77% for BFJL. On fees, BFJL is cheaper at 0.90% per year. On volatility, BFJL has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITI or BFJL?

Over the 1-year period, BITI has performed better with a 64.61% return vs -15.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITI or BFJL?

BFJL is cheaper with a 0.90% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 1.41% for BFJL.

What is the main difference between BITI and BFJL?

BITI is categorized as Cryptocurrency, while BFJL is Defined Outcome. They also come from different issuers: ProShares and First Trust. Their fees differ too: 1.03% for BITI and 0.90% for BFJL.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs -1.21), 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.