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BITI vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

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

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Shrt Bitcoin ETF (BITI) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

BITI:

-0.87

SPY:

0.64

Sortino Ratio

BITI:

-1.18

SPY:

1.04

Omega Ratio

BITI:

0.86

SPY:

1.15

Calmar Ratio

BITI:

-0.51

SPY:

0.69

Martin Ratio

BITI:

-1.26

SPY:

2.64

Ulcer Index

BITI:

36.49%

SPY:

4.91%

Daily Std Dev

BITI:

53.53%

SPY:

20.47%

Max Drawdown

BITI:

-91.14%

SPY:

-55.19%

Current Drawdown

BITI:

-91.03%

SPY:

-3.26%

Returns By Period

In the year-to-date period, BITI achieves a -19.32% return, which is significantly lower than SPY's 1.17% return.


BITI

YTD

-19.32%

1M

-13.19%

6M

-22.07%

1Y

-46.37%

3Y*

N/A

5Y*

N/A

10Y*

N/A

SPY

YTD

1.17%

1M

7.36%

6M

-0.95%

1Y

13.08%

3Y*

14.15%

5Y*

15.98%

10Y*

12.78%

*Annualized

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ProShares Shrt Bitcoin ETF

SPDR S&P 500 ETF

BITI vs. SPY - Expense Ratio Comparison

BITI has a 1.03% expense ratio, which is higher than SPY's 0.09% expense ratio.


Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

BITI vs. SPY — Risk-Adjusted Performance Rank

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

BITI
The Risk-Adjusted Performance Rank of BITI is 22
Overall Rank
The Sharpe Ratio Rank of BITI is 11
Sharpe Ratio Rank
The Sortino Ratio Rank of BITI is 11
Sortino Ratio Rank
The Omega Ratio Rank of BITI is 11
Omega Ratio Rank
The Calmar Ratio Rank of BITI is 22
Calmar Ratio Rank
The Martin Ratio Rank of BITI is 33
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6969
Overall Rank
The Sharpe Ratio Rank of SPY is 6363
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6969
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 7272
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 7272
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 7171
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The current BITI Sharpe Ratio is -0.87, which is lower than the SPY Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of BITI and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

BITI vs. SPY - Dividend Comparison

BITI's dividend yield for the trailing twelve months is around 3.67%, more than SPY's 1.21% yield.


TTM20242023202220212020201920182017201620152014
BITI
ProShares Shrt Bitcoin ETF
3.67%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
1.21%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 -91.14%, 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.


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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

BITI vs. SPY - Volatility Comparison

ProShares Shrt Bitcoin ETF (BITI) has a higher volatility of 8.86% compared to SPDR S&P 500 ETF (SPY) at 4.78%. 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.


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