BITI vs. SETH
Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and ProShares Short Ether Strategy ETF (SETH).
BITI and SETH 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. SETH is a passively managed fund by ProShares that tracks the performance of the Bloomberg Galaxy Ethereum (--100%). It was launched on Nov 1, 2023. Both BITI and SETH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BITI vs. SETH - Performance Comparison
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BITI vs. SETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 20.02% | -1.76% | -62.60% | -17.30% |
SETH ProShares Short Ether Strategy ETF | 20.65% | -29.41% | -49.59% | -22.80% |
Returns By Period
The year-to-date returns for both investments are quite close, with BITI having a 20.02% return and SETH slightly higher at 20.65%.
BITI
- 1D
- -0.46%
- 1M
- 0.37%
- YTD
- 20.02%
- 6M
- 56.40%
- 1Y
- 10.94%
- 3Y*
- -34.13%
- 5Y*
- —
- 10Y*
- —
SETH
- 1D
- -2.21%
- 1M
- -7.87%
- YTD
- 20.65%
- 6M
- 57.31%
- 1Y
- -45.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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BITI vs. SETH - Expense Ratio Comparison
BITI has a 1.03% expense ratio, which is higher than SETH's 0.95% expense ratio.
Return for Risk
BITI vs. SETH — Risk / Return Rank
BITI
SETH
BITI vs. SETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) and ProShares Short Ether Strategy ETF (SETH). 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 | SETH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.24 | -0.60 | +0.84 |
Sortino ratioReturn per unit of downside risk | 0.66 | -0.56 | +1.22 |
Omega ratioGain probability vs. loss probability | 1.08 | 0.93 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.19 | -0.64 | +0.83 |
Martin ratioReturn relative to average drawdown | 0.29 | -0.81 | +1.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITI | SETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | -0.60 | +0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | -0.52 | -0.23 |
Correlation
The correlation between BITI and SETH is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BITI vs. SETH - Dividend Comparison
BITI's dividend yield for the trailing twelve months is around 8.23%, less than SETH's 11.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 8.23% | 1.60% | 3.91% | 3.33% | 0.06% |
SETH ProShares Short Ether Strategy ETF | 11.38% | 7.01% | 3.44% | 0.38% | 0.00% |
Drawdowns
BITI vs. SETH - Drawdown Comparison
The maximum BITI drawdown since its inception was -92.16%, which is greater than SETH's maximum drawdown of -80.74%. Use the drawdown chart below to compare losses from any high point for BITI and SETH.
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Drawdown Indicators
| BITI | SETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.16% | -80.74% | -11.42% |
Max Drawdown (1Y)Largest decline over 1 year | -39.64% | -75.02% | +35.38% |
Current DrawdownCurrent decline from peak | -86.90% | -66.86% | -20.04% |
Average DrawdownAverage peak-to-trough decline | -67.03% | -53.84% | -13.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.26% | 59.01% | -33.75% |
Volatility
BITI vs. SETH - Volatility Comparison
The current volatility for ProShares Shrt Bitcoin ETF (BITI) is 13.04%, while ProShares Short Ether Strategy ETF (SETH) has a volatility of 19.86%. This indicates that BITI experiences smaller price fluctuations and is considered to be less risky than SETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITI | SETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 19.86% | -6.82% |
Volatility (6M)Calculated over the trailing 6-month period | 36.32% | 53.29% | -16.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.20% | 76.09% | -30.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.18% | 71.15% | -17.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.18% | 71.15% | -17.97% |