BITI vs. SPY
Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and SPDR S&P 500 ETF (SPY).
BITI and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both BITI and SPY 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 SPY.
Correlation
The correlation between BITI and SPY is 1.00, 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.
Performance
BITI vs. SPY - Performance Comparison
Key characteristics
BITI:
-0.89
SPY:
0.72
BITI:
-1.25
SPY:
1.13
BITI:
0.86
SPY:
1.17
BITI:
-0.54
SPY:
0.76
BITI:
-1.42
SPY:
3.04
BITI:
34.33%
SPY:
4.72%
BITI:
54.55%
SPY:
20.06%
BITI:
-90.30%
SPY:
-55.19%
BITI:
-89.81%
SPY:
-7.25%
Returns By Period
In the year-to-date period, BITI achieves a -8.26% return, which is significantly lower than SPY's -3.01% return.
BITI
-8.26%
-16.57%
-34.73%
-45.74%
N/A
N/A
SPY
-3.01%
5.60%
-0.12%
12.26%
16.60%
12.50%
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BITI vs. SPY - Expense Ratio Comparison
BITI has a 1.03% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
BITI vs. SPY — Risk-Adjusted Performance Rank
BITI
SPY
BITI vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) and SPDR S&P 500 ETF (SPY). 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.
Dividends
BITI vs. SPY - Dividend Comparison
BITI's dividend yield for the trailing twelve months is around 3.23%, more than SPY's 1.26% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 3.23% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.26% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
BITI vs. SPY - Drawdown Comparison
The maximum BITI drawdown since its inception was -90.30%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BITI and SPY. For additional features, visit the drawdowns tool.
Volatility
BITI vs. SPY - Volatility Comparison
ProShares Shrt Bitcoin ETF (BITI) has a higher volatility of 15.85% compared to SPDR S&P 500 ETF (SPY) at 15.07%. This indicates that BITI's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.