BITSX vs. BITO

Last updated Jun 5, 2026

BITSX (iShares Total U.S. Stock Market Index Fund) and BITO (ProShares Bitcoin Strategy ETF) are both funds - BITSX is a Large Cap Blend Equities fund managed by BlackRock, while BITO is a Cryptocurrency fund actively managed by ProShares. Over the past 3 years, BITSX returned 21.94%/yr vs 26.82%/yr for BITO. At a 0.43 correlation, their price movements are largely independent. BITSX charges 0.08%/yr vs 0.95%/yr for BITO.

Performance

BITSX vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Total U.S. Stock Market Index Fund (BITSX) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITSX achieves a 10.88% return, which is significantly higher than BITO's -28.44% return.

BITSX

• 1D: -0.75%
• 1M: 4.00%
• YTD: 10.88%
• 6M: 10.60%
• 1Y: 27.66%
• 3Y*: 21.94%
• 5Y*: 12.72%
• 10Y*: 15.00%

BITO

• 1D: -2.81%
• 1M: -22.52%
• YTD: -28.44%
• 6M: -32.46%
• 1Y: -41.98%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BITSX vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITSX iShares Total U.S. Stock Market Index Fund	10.88%	17.10%	23.79%	25.97%	-19.10%	4.02%
BITO ProShares Bitcoin Strategy ETF	-28.44%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Correlation

The correlation between BITSX and BITO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021	0.43

The correlation between BITSX and BITO shifts across timeframes, from 0.37 (3 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BITSX vs. BITO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITSX

BITSX Risk / Return Rank: 63
BITSX Sharpe Ratio Rank: 60
BITSX Sortino Ratio Rank: 55
BITSX Omega Ratio Rank: 56
BITSX Calmar Ratio Rank: 67
BITSX Martin Ratio Rank: 78

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITSX vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Total U.S. Stock Market Index Fund (BITSX) 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.

	BITSX	BITO	Difference
Sharpe ratio: Return per unit of total volatility	2.28	-0.97	+3.25
Sortino ratio: Return per unit of downside risk	3.13	-1.39	+4.53
Omega ratio: Gain probability vs. loss probability	1.41	0.84	+0.56
Calmar ratio: Return relative to maximum drawdown	3.13	-0.83	+3.96
Martin ratio: Return relative to average drawdown	14.38	-1.44	+15.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITSX vs. BITO - Sharpe Ratio Comparison

The current BITSX Sharpe Ratio is 2.28, which is higher than the BITO Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of BITSX and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITSX	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	-0.97	+3.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	-0.10	+0.92

Drawdowns

BITSX vs. BITO - Drawdown Comparison

The maximum BITSX drawdown since its inception was -34.97%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BITSX and BITO.

Drawdown Indicators

	BITSX	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-34.97%	-77.86%	+42.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-50.64%	+41.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.29%	-50.64%	+31.35%
Max Drawdown (5Y) Largest decline over 5 years	-25.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.97%	—	—
Current Drawdown Current decline from peak	-0.75%	-50.64%	+49.89%
Average Drawdown Average peak-to-trough decline	-4.54%	-36.75%	+32.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	29.27%	-27.34%

Volatility

BITSX vs. BITO - Volatility Comparison

The current volatility for iShares Total U.S. Stock Market Index Fund (BITSX) is 3.05%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 9.03%. This indicates that BITSX experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITSX	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	9.03%	-5.98%
Volatility (6M) Calculated over the trailing 6-month period	9.16%	33.71%	-24.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	43.61%	-31.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	55.10%	-37.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	55.10%	-36.68%

BITSX vs. BITO - Expense Ratio Comparison

BITSX has a 0.08% expense ratio, which is lower than BITO's 0.95% expense ratio.

Dividends

BITSX vs. BITO - Dividend Comparison

BITSX's dividend yield for the trailing twelve months is around 1.02%, less than BITO's 69.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
BITSX iShares Total U.S. Stock Market Index Fund	1.02%	1.10%	1.24%	1.42%	1.59%	1.53%	1.47%	2.11%	2.44%	2.14%	1.51%

Frequently Asked Questions

Can I hold both BITSX and BITO in my portfolio?

BITSX and BITO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITSX or BITO?

BITO has higher volatility (9.03%) compared to BITSX (3.05%). In terms of maximum drawdown, BITSX dropped -34.97% vs BITO's -77.86%.

Which has better risk-adjusted returns?

BITSX currently has the higher Sharpe Ratio (2.28 vs -0.97), 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.