Correlation
The correlation between BITI and IBIT is -0.35. 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.
BITI vs. IBIT
Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and iShares Bitcoin Trust (IBIT).
BITI and IBIT 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. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024. Both BITI and IBIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITI or IBIT.
Performance
BITI vs. IBIT - Performance Comparison
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Key characteristics
BITI:
-0.87
IBIT:
1.11
BITI:
-1.18
IBIT:
1.72
BITI:
0.86
IBIT:
1.20
BITI:
-0.51
IBIT:
2.03
BITI:
-1.26
IBIT:
4.45
BITI:
36.49%
IBIT:
12.90%
BITI:
53.53%
IBIT:
53.05%
BITI:
-91.14%
IBIT:
-28.22%
BITI:
-91.03%
IBIT:
-1.15%
Returns By Period
In the year-to-date period, BITI achieves a -19.32% return, which is significantly lower than IBIT's 17.81% return.
BITI
-19.32%
-13.19%
-22.07%
-46.37%
N/A
N/A
N/A
IBIT
17.81%
15.16%
20.89%
58.39%
N/A
N/A
N/A
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BITI vs. IBIT - Expense Ratio Comparison
BITI has a 1.03% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Risk-Adjusted Performance
BITI vs. IBIT — Risk-Adjusted Performance Rank
BITI
IBIT
BITI vs. IBIT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) and iShares Bitcoin Trust (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.
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Dividends
BITI vs. IBIT - Dividend Comparison
BITI's dividend yield for the trailing twelve months is around 3.67%, while IBIT has not paid dividends to shareholders.
| TTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 3.67% | 3.91% | 3.33% | 0.06% |
IBIT iShares Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BITI vs. IBIT - Drawdown Comparison
The maximum BITI drawdown since its inception was -91.14%, which is greater than IBIT's maximum drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for BITI and IBIT.
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Volatility
BITI vs. IBIT - Volatility Comparison
ProShares Shrt Bitcoin ETF (BITI) and iShares Bitcoin Trust (IBIT) have volatilities of 8.86% and 8.73%, 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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