BITO vs. INDY
BITO (ProShares Bitcoin Strategy ETF) and INDY (iShares India 50 ETF) are both exchange-traded funds - BITO is a Cryptocurrency fund actively managed by ProShares, while INDY is a Emerging Markets Equities fund tracking the Nifty 50 Index. BITO is actively managed, while INDY is passively managed. Over the past 3 years, BITO returned 26.35%/yr vs 1.97%/yr for INDY. At a 0.28 correlation, their price movements are largely independent. BITO charges 0.95%/yr vs 0.65%/yr for INDY.
Performance
BITO vs. INDY - Performance Comparison
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Returns By Period
In the year-to-date period, BITO achieves a -28.44% return, which is significantly lower than INDY's -13.37% return.
BITO
- 1D
- 0.12%
- 1M
- -22.17%
- YTD
- -28.44%
- 6M
- -30.74%
- 1Y
- -41.98%
- 3Y*
- 26.35%
- 5Y*
- —
- 10Y*
- —
INDY
- 1D
- 1.16%
- 1M
- 0.02%
- YTD
- -13.37%
- 6M
- -11.62%
- 1Y
- -12.55%
- 3Y*
- 1.97%
- 5Y*
- 1.75%
- 10Y*
- 6.65%
BITO vs. INDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | -28.44% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
INDY iShares India 50 ETF | -13.37% | 4.97% | 3.47% | 16.88% | -7.31% | -5.52% |
Correlation
The correlation between BITO and INDY is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.28 |
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Return for Risk
BITO vs. INDY — Risk / Return Rank
BITO
INDY
BITO vs. INDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and iShares India 50 ETF (INDY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BITO | INDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.85 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.73 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.42 | -1.59 | +0.17 |
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Drawdowns
BITO vs. INDY - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than INDY's maximum drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for BITO and INDY.
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Drawdown Indicators
| BITO | INDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -44.74% | -33.12% |
Max Drawdown (1Y)Largest decline over 1 year | -53.10% | -18.95% | -34.15% |
Max Drawdown (3Y)Largest decline over 3 years | -53.10% | -22.40% | -30.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.50% | — |
Current DrawdownCurrent decline from peak | -50.64% | -19.12% | -31.52% |
Average DrawdownAverage peak-to-trough decline | -36.79% | -12.23% | -24.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.32% | 8.72% | +21.60% |
Volatility
BITO vs. INDY - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 11.73% compared to iShares India 50 ETF (INDY) at 3.98%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITO | INDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.73% | 3.98% | +7.75% |
Volatility (6M)Calculated over the trailing 6-month period | 34.20% | 12.35% | +21.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.88% | 14.31% | +29.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.07% | 14.96% | +40.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.07% | 19.58% | +35.49% |
BITO vs. INDY - Expense Ratio Comparison
BITO has a 0.95% expense ratio, which is higher than INDY's 0.65% expense ratio.
Dividends
BITO vs. INDY - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 69.59%, more than INDY's 9.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 69.59% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INDY iShares India 50 ETF | 9.36% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
Frequently Asked Questions
BITO and INDY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (11.73%) compared to INDY (3.98%). In terms of maximum drawdown, BITO dropped -77.86% vs INDY's -44.74%.
On 3-year performance, BITO leads with 26.35% vs 1.97% for INDY. On fees, INDY is cheaper at 0.65% per year. On volatility, INDY has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 26.35% return vs 1.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INDY is cheaper with a 0.65% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 69.59%, compared with 9.36% for INDY.
BITO is categorized as Cryptocurrency, while INDY is Emerging Markets Equities. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for BITO and 0.65% for INDY.
INDY currently has the higher Sharpe Ratio (-0.97 vs -0.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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