BITO vs. PDI
BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 3 years, BITO returned 26.35%/yr vs 10.87%/yr for PDI. At a 0.20 correlation, their price movements are largely independent.
Performance
BITO vs. PDI - 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 PDI's -0.81% return.
BITO
- 1D
- 0.12%
- 1M
- -20.38%
- YTD
- -28.44%
- 6M
- -30.74%
- 1Y
- -42.91%
- 3Y*
- 26.35%
- 5Y*
- —
- 10Y*
- —
PDI
- 1D
- -0.79%
- 1M
- -3.50%
- YTD
- -0.81%
- 6M
- -0.75%
- 1Y
- 0.14%
- 3Y*
- 10.87%
- 5Y*
- 2.19%
- 10Y*
- 7.55%
BITO vs. PDI - 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% |
PDI PIMCO Dynamic Income Fund | -0.81% | 11.03% | 17.18% | 11.99% | -16.99% | -1.87% |
Correlation
The correlation between BITO and PDI is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.20 |
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Return for Risk
BITO vs. PDI — Risk / Return Rank
BITO
PDI
BITO vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and PIMCO Dynamic Income Fund (PDI). 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 | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.01 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 0.01 | -0.82 |
| Martin ratioReturn relative to average drawdown | -1.42 | 0.03 | -1.44 |
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Drawdowns
BITO vs. PDI - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than PDI's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for BITO and PDI.
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Drawdown Indicators
| BITO | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -46.47% | -31.39% |
Max Drawdown (1Y)Largest decline over 1 year | -53.10% | -10.95% | -42.15% |
Max Drawdown (3Y)Largest decline over 3 years | -53.10% | -17.55% | -35.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.47% | — |
Current DrawdownCurrent decline from peak | -50.64% | -8.56% | -42.08% |
Average DrawdownAverage peak-to-trough decline | -36.79% | -6.22% | -30.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.32% | 5.09% | +25.23% |
Volatility
BITO vs. PDI - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 11.73% compared to PIMCO Dynamic Income Fund (PDI) at 3.31%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITO | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.73% | 3.31% | +8.42% |
Volatility (6M)Calculated over the trailing 6-month period | 34.20% | 8.27% | +25.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.88% | 11.31% | +32.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.07% | 15.53% | +39.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.07% | 19.04% | +36.03% |
Dividends
BITO vs. PDI - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 69.59%, more than PDI's 16.24% 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% |
PDI PIMCO Dynamic Income Fund | 16.24% | 14.94% | 14.43% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 18.70% |
Frequently Asked Questions
BITO and PDI have a correlation of 0.19, 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 PDI (3.31%). In terms of maximum drawdown, BITO dropped -77.86% vs PDI's -46.47%.
PDI currently has the higher Sharpe Ratio (0.01 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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