BITI vs. BLOX

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and Nicholas Crypto Income ETF (BLOX).

BITI and BLOX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITI is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-100%). It was launched on Jun 21, 2022. BLOX is an actively managed fund by Nicholas. It was launched on Jun 16, 2025.

Performance

BITI vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Shrt Bitcoin ETF (BITI) and Nicholas Crypto Income ETF (BLOX). The values are adjusted to include any dividend payments, if applicable.

BITI vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
BITI ProShares Shrt Bitcoin ETF	20.02%	16.05%
BLOX Nicholas Crypto Income ETF	-18.45%	9.24%

Returns By Period

In the year-to-date period, BITI achieves a 20.02% return, which is significantly higher than BLOX's -18.45% return.

BITI

• 1D: -0.46%
• 1M: 0.37%
• YTD: 20.02%
• 6M: 56.40%
• 1Y: 10.94%
• 3Y*: -34.13%
• 5Y*: —
• 10Y*: —

BLOX

• 1D: 0.46%
• 1M: -12.15%
• YTD: -18.45%
• 6M: -37.07%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITI vs. BLOX - Expense Ratio Comparison

Both BITI and BLOX have an expense ratio of 1.03%.

BITI

ProShares Shrt Bitcoin ETF

BLOX

Nicholas Crypto Income ETF

Return for Risk

BITI vs. BLOX — Risk / Return Rank

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

BITI

BITI Risk / Return Rank: 18
BITI Sharpe Ratio Rank: 18
BITI Sortino Ratio Rank: 22
BITI Omega Ratio Rank: 20
BITI Calmar Ratio Rank: 15
BITI Martin Ratio Rank: 14

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. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) and Nicholas Crypto Income ETF (BLOX). 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.

	BITI	BLOX	Difference
Sharpe ratio Return per unit of total volatility	0.24	—	—
Sortino ratio Return per unit of downside risk	0.66	—	—
Omega ratio Gain probability vs. loss probability	1.08	—	—
Calmar ratio Return relative to maximum drawdown	0.19	—	—
Martin ratio Return relative to average drawdown	0.29	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BITI	BLOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	-0.25	-0.50

Correlation

The correlation between BITI and BLOX is -0.83. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BITI vs. BLOX - Dividend Comparison

BITI's dividend yield for the trailing twelve months is around 8.23%, less than BLOX's 42.04% yield.

	TTM	2025	2024	2023	2022
BITI ProShares Shrt Bitcoin ETF	8.23%	1.60%	3.91%	3.33%	0.06%
BLOX Nicholas Crypto Income ETF	42.04%	22.69%	0.00%	0.00%	0.00%

Drawdowns

BITI vs. BLOX - Drawdown Comparison

The maximum BITI drawdown since its inception was -92.16%, which is greater than BLOX's maximum drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for BITI and BLOX.

Drawdown Indicators

	BITI	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-92.16%	-47.09%	-45.07%
Max Drawdown (1Y) Largest decline over 1 year	-39.64%	—	—
Current Drawdown Current decline from peak	-86.90%	-43.63%	-43.27%
Average Drawdown Average peak-to-trough decline	-67.03%	-16.70%	-50.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.26%	—	—

Volatility

Volatility by Period

	BITI	BLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.20%	55.26%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.18%	55.26%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.18%	55.26%	-2.08%