BITO vs. FTSD
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and Franklin Short Duration U.S. Government ETF (FTSD).
BITO and FTSD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021. FTSD is an actively managed fund by Franklin Templeton. It was launched on Nov 4, 2013.
Performance
BITO vs. FTSD - Performance Comparison
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Returns By Period
In the year-to-date period, BITO achieves a -24.03% return, which is significantly lower than FTSD's 0.44% return.
BITO
- 1D
- -1.60%
- 1M
- -6.05%
- YTD
- -24.03%
- 6M
- -46.41%
- 1Y
- -23.76%
- 3Y*
- 24.92%
- 5Y*
- —
- 10Y*
- —
FTSD
- 1D
- -0.03%
- 1M
- 0.07%
- YTD
- 0.44%
- 6M
- 1.82%
- 1Y
- 4.38%
- 3Y*
- 4.79%
- 5Y*
- 2.40%
- 10Y*
- 2.06%
BITO vs. FTSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | -24.03% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
FTSD Franklin Short Duration U.S. Government ETF | 0.44% | 5.66% | 5.20% | 4.84% | -3.13% | -0.39% |
Correlation
The correlation between BITO and FTSD is 0.02, meaning there is essentially no relationship between their price movements. They neither move together nor in opposition — each responds to its own set of market drivers. This independence makes them strong candidates for combining in a diversified portfolio.
BITO vs. FTSD - Expense Ratio Comparison
BITO has a 0.95% expense ratio, which is higher than FTSD's 0.25% expense ratio.
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Return for Risk
BITO vs. FTSD — Risk / Return Rank
BITO
FTSD
BITO vs. FTSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and Franklin Short Duration U.S. Government ETF (FTSD). 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.
| BITO | FTSD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.58 | 2.37 | -2.95 |
Sortino ratioReturn per unit of downside risk | -0.62 | 3.38 | -4.00 |
Omega ratioGain probability vs. loss probability | 0.93 | 1.59 | -0.67 |
Calmar ratioReturn relative to maximum drawdown | -0.49 | 4.97 | -5.46 |
Martin ratioReturn relative to average drawdown | -1.02 | 22.59 | -23.62 |
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
| BITO | FTSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.58 | 2.37 | -2.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.32 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 1.04 | -1.12 |
Drawdowns
BITO vs. FTSD - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than FTSD's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for BITO and FTSD.
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Drawdown Indicators
| BITO | FTSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -5.32% | -72.54% |
Max Drawdown (1Y)Largest decline over 1 year | -50.05% | -0.93% | -49.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.32% | — |
Current DrawdownCurrent decline from peak | -47.60% | -0.10% | -47.50% |
Average DrawdownAverage peak-to-trough decline | -36.58% | -0.61% | -35.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.92% | 0.21% | +23.71% |
Volatility
BITO vs. FTSD - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 10.67% compared to Franklin Short Duration U.S. Government ETF (FTSD) at 0.53%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than FTSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITO | FTSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.67% | 0.53% | +10.14% |
Volatility (6M)Calculated over the trailing 6-month period | 36.60% | 0.87% | +35.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.24% | 1.96% | +43.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.75% | 1.83% | +53.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.75% | 1.79% | +53.96% |
Dividends
BITO vs. FTSD - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 81.78%, more than FTSD's 4.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 81.78% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FTSD Franklin Short Duration U.S. Government ETF | 4.55% | 4.67% | 4.75% | 4.14% | 1.73% | 1.01% | 1.54% | 2.90% | 2.63% | 2.24% | 1.92% | 1.52% |