BITX vs. SCUS

Last updated Aug 4, 2026

BITX (2x Bitcoin Strategy ETF) and SCUS (Schwab Ultra-Short Income ETF) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while SCUS is a Ultrashort Bond fund actively managed by Charles Schwab. BITX is passively managed, while SCUS is actively managed. Over the past year, BITX returned -77.31% vs 3.87% for SCUS. Their -0.09 correlation means they have often moved in opposite directions in the past. BITX charges 2.38%/yr vs 0.14%/yr for SCUS.

Performance

BITX vs. SCUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 2x Bitcoin Strategy ETF (BITX) and Schwab Ultra-Short Income ETF (SCUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITX achieves a -56.44% return, which is significantly lower than SCUS's 2.04% return.

BITX

• 1D: 2.83%
• 1M: 6.13%
• 6M: -43.47%
• YTD: -56.44%
• 1Y: -77.31%
• 3Y*: 6.79%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.89%

SCUS

• 1D: 0.01%
• 1M: 0.37%
• 6M: 1.64%
• YTD: 2.04%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITX 2x Bitcoin Strategy ETF	$88.24M	$96.85M	$117.71M
SCUS Schwab Ultra-Short Income ETF	$3.00M	$2.70M	$2.96M

BITX vs. SCUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITX 2x Bitcoin Strategy ETF	-56.44%	-38.71%	105.06%
SCUS Schwab Ultra-Short Income ETF	2.04%	4.51%	2.00%

Correlation

The correlation between BITX and SCUS is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (All Time) Calculated using the full available price history since Aug 13, 2024	-0.09

Return for Risk

BITX vs. SCUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BITX

BITX Risk / Return Rank: 2
BITX Sharpe Ratio Rank: 2
BITX Sortino Ratio Rank: 1
BITX Omega Ratio Rank: 2
BITX Calmar Ratio Rank: 1
BITX Martin Ratio Rank: 2

SCUS

SCUS Risk / Return Rank: 99
SCUS Sharpe Ratio Rank: 99
SCUS Sortino Ratio Rank: 99
SCUS Omega Ratio Rank: 99
SCUS Calmar Ratio Rank: 99
SCUS Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BITX vs. SCUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and Schwab Ultra-Short Income ETF (SCUS). 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.

	BITX	SCUS	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	5.68	-6.56
Sortino ratio: Return per unit of downside risk	-1.65	10.66	-12.31
Omega ratio: Gain probability vs. loss probability	0.82	2.50	-1.68
Calmar ratio: Return relative to maximum drawdown	-0.93	23.33	-24.26
Martin ratio: Return relative to average drawdown	-1.30	98.31	-99.60

BITX vs. SCUS - Sharpe Ratio Comparison

The current BITX Sharpe Ratio is -0.88, which is lower than the SCUS Sharpe Ratio of 5.68. The chart below compares the historical Sharpe Ratios of BITX and SCUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BITX vs. SCUS - Drawdown Comparison

The maximum BITX drawdown since its inception was -83.45%, which is greater than SCUS's maximum drawdown of -0.17%. Use the drawdown chart below to compare losses from any high point for BITX and SCUS.

Drawdown Indicators

	BITX	SCUS	Difference
Max Drawdown Largest peak-to-trough decline	-83.45%	-0.17%	-83.28%
Max Drawdown (1Y) Largest decline over 1 year	-83.45%	-0.17%	-83.28%
Max Drawdown (3Y) Largest decline over 3 years	-83.45%	—	—
Current Drawdown Current decline from peak	-80.75%	0.00%	-80.75%
Average Drawdown Average peak-to-trough decline	-34.25%	-0.02%	-34.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.65%	0.04%	+59.61%

Volatility

BITX vs. SCUS - Volatility Comparison

2x Bitcoin Strategy ETF (BITX) has a higher volatility of 17.57% compared to Schwab Ultra-Short Income ETF (SCUS) at 0.19%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than SCUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITX	SCUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.57%	0.19%	+17.38%
Volatility (6M) Calculated over the trailing 6-month period	67.80%	0.51%	+67.29%
Volatility (1Y) Calculated over the trailing 1-year period	88.21%	0.69%	+87.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.14%	0.70%	+96.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.14%	0.70%	+96.44%

BITX vs. SCUS - Expense Ratio Comparison

BITX has a 2.38% expense ratio, which is higher than SCUS's 0.14% expense ratio.

Dividends

BITX vs. SCUS - Dividend Comparison

BITX's dividend yield for the trailing twelve months is around 27.12%, more than SCUS's 3.87% yield.

Position	TTM	2025	2024
BITX 2x Bitcoin Strategy ETF	27.12%	21.69%	10.70%
SCUS Schwab Ultra-Short Income ETF	3.87%	4.17%	1.62%

Frequently Asked Questions

Can I hold both BITX and SCUS in my portfolio?

BITX and SCUS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITX or SCUS?

BITX has higher volatility (17.57%) compared to SCUS (0.19%). In terms of maximum drawdown, BITX dropped -83.45% vs SCUS's -0.17%.

Which ETF is better, BITX or SCUS?

On 1-year performance, SCUS leads with 3.87% vs -77.31% for BITX. On fees, SCUS is cheaper at 0.14% per year. On volatility, SCUS has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITX or SCUS?

Over the 1-year period, SCUS has performed better with a 3.87% return vs -77.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITX or SCUS?

SCUS is cheaper with a 0.14% expense ratio, compared with 2.38% for BITX.

Which ETF pays a higher dividend yield, BITX or SCUS?

BITX has the higher dividend yield at 27.12%, compared with 3.87% for SCUS.

What is the main difference between BITX and SCUS?

BITX is categorized as Cryptocurrency, while SCUS is Ultrashort Bond. They also come from different issuers: Volatility Shares and Charles Schwab. Their fees differ too: 2.38% for BITX and 0.14% for SCUS.

Which has better risk-adjusted returns?

SCUS currently has the higher Sharpe Ratio (5.68 vs -0.88), 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.