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

Key characteristics


BITOSPY
YTD Return59.22%10.41%
1Y Return129.49%34.16%
Sharpe Ratio2.702.93
Daily Std Dev49.38%11.54%
Max Drawdown-77.86%-55.19%
Current Drawdown-9.02%0.00%

Correlation

0.42
-1.001.00

The correlation between BITO and SPY is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Performance

BITO vs. SPY - Performance Comparison

In the year-to-date period, BITO achieves a 59.22% return, which is significantly higher than SPY's 10.41% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


-60.00%-40.00%-20.00%0.00%20.00%OctoberNovemberDecember2024FebruaryMarch
-6.03%
20.57%
BITO
SPY

Compare stocks, funds, or ETFs


ProShares Bitcoin Strategy ETF

SPDR S&P 500 ETF

BITO vs. SPY - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.

BITO
ProShares Bitcoin Strategy ETF
0.50%1.00%1.50%2.00%0.95%
0.50%1.00%1.50%2.00%0.09%

Risk-Adjusted Performance

BITO vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) 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.


Sharpe ratioSortino ratioOmega ratioCalmar ratioUlcer Index
BITO
ProShares Bitcoin Strategy ETF
2.70
SPY
SPDR S&P 500 ETF
2.93

BITO vs. SPY - Sharpe Ratio Comparison

The current BITO Sharpe Ratio is 2.70, which roughly equals the SPY Sharpe Ratio of 2.93. The chart below compares the 12-month rolling Sharpe Ratio of BITO and SPY.


Rolling 12-month Sharpe Ratio1.002.003.004.00OctoberNovemberDecember2024FebruaryMarch
2.70
2.93
BITO
SPY

Dividends

BITO vs. SPY - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 12.59%, more than SPY's 1.28% yield.


TTM20232022202120202019201820172016201520142013
BITO
ProShares Bitcoin Strategy ETF
12.59%15.14%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.28%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%1.81%

Drawdowns

BITO vs. SPY - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than SPY's maximum drawdown of -55.19%. The drawdown chart below compares losses from any high point along the way for BITO and SPY


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%OctoberNovemberDecember2024FebruaryMarch
-9.02%
0
BITO
SPY

Volatility

BITO vs. SPY - Volatility Comparison

ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 21.71% compared to SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that BITO'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.


0.00%5.00%10.00%15.00%20.00%OctoberNovemberDecember2024FebruaryMarch
21.71%
2.75%
BITO
SPY