BITS vs. BITO
Compare and contrast key facts about Global X Blockchain & Bitcoin Strategy ETF (BITS) and ProShares Bitcoin Strategy ETF (BITO).
BITS and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITS is a passively managed fund by Global X that tracks the performance of the NONE. It was launched on Nov 15, 2021. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITS or BITO.
Key characteristics
| BITS | BITO | |
|---|---|---|
| YTD Return | 73.06% | 100.91% |
| 1Y Return | 163.28% | 135.28% |
| Sharpe Ratio | 2.43 | 2.15 |
| Sortino Ratio | 2.98 | 2.74 |
| Omega Ratio | 1.33 | 1.32 |
| Calmar Ratio | 2.48 | 2.44 |
| Martin Ratio | 11.42 | 9.27 |
| Ulcer Index | 13.99% | 13.50% |
| Daily Std Dev | 65.90% | 58.15% |
| Max Drawdown | -83.11% | -77.86% |
| Current Drawdown | -6.26% | 0.00% |
Correlation
The correlation between BITS and BITO is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BITS vs. BITO - Performance Comparison
In the year-to-date period, BITS achieves a 73.06% return, which is significantly lower than BITO's 100.91% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BITS vs. BITO - Expense Ratio Comparison
BITS has a 0.65% expense ratio, which is lower than BITO's 0.95% expense ratio.
Risk-Adjusted Performance
BITS vs. BITO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) and ProShares Bitcoin Strategy ETF (BITO). 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
BITS vs. BITO - Dividend Comparison
BITS's dividend yield for the trailing twelve months is around 8.12%, less than BITO's 50.41% yield.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
BITS Global X Blockchain & Bitcoin Strategy ETF | 8.12% | 13.69% | 0.48% | 1.90% |
BITO ProShares Bitcoin Strategy ETF | 50.41% | 15.14% | 0.00% | 0.00% |
Drawdowns
BITS vs. BITO - Drawdown Comparison
The maximum BITS drawdown since its inception was -83.11%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BITS and BITO. For additional features, visit the drawdowns tool.
Volatility
BITS vs. BITO - Volatility Comparison
Global X Blockchain & Bitcoin Strategy ETF (BITS) has a higher volatility of 23.37% compared to ProShares Bitcoin Strategy ETF (BITO) at 18.04%. This indicates that BITS's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.