BITO vs. SPY
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and SPDR S&P 500 ETF (SPY).
BITO and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITO or SPY.
Key characteristics
| BITO | SPY | |
|---|---|---|
| YTD Return | 104.81% | 24.40% |
| 1Y Return | 134.95% | 31.86% |
| 3Y Return (Ann) | 9.90% | 9.29% |
| Sharpe Ratio | 2.14 | 2.64 |
| Sortino Ratio | 2.73 | 3.53 |
| Omega Ratio | 1.32 | 1.49 |
| Calmar Ratio | 2.47 | 3.81 |
| Martin Ratio | 9.18 | 17.21 |
| Ulcer Index | 13.50% | 1.86% |
| Daily Std Dev | 57.80% | 12.15% |
| Max Drawdown | -77.86% | -55.19% |
| Current Drawdown | 0.00% | -2.17% |
Correlation
The correlation between BITO and SPY is 0.41, 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 104.81% return, which is significantly higher than SPY's 24.40% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
BITO vs. SPY - Expense Ratio Comparison
BITO has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.
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.
Dividends
BITO vs. SPY - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 49.45%, more than SPY's 1.20% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 49.45% | 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 | 1.20% | 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%. Use the drawdown chart below to compare losses from any high point for BITO and SPY. For additional features, visit the drawdowns tool.
Volatility
BITO vs. SPY - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 18.53% compared to SPDR S&P 500 ETF (SPY) at 4.08%. 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.