BITX vs. SGOV
BITX (2x Bitcoin Strategy ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past year, BITX returned -73.99% vs 3.95% for SGOV. At a 0.02 correlation, their price movements are largely independent. BITX charges 2.38%/yr vs 0.09%/yr for SGOV.
Performance
BITX vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -55.64% return, which is significantly lower than SGOV's 1.56% return.
BITX
- 1D
- 9.87%
- 1M
- -39.25%
- YTD
- -55.64%
- 6M
- -59.53%
- 1Y
- -73.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.70%
- 5Y*
- 3.55%
- 10Y*
- —
BITX vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -55.64% | -38.71% | 163.41% | 46.18% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.56% | 4.24% | 5.27% | 2.77% |
Correlation
The correlation between BITX and SGOV is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.02 |
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Return for Risk
BITX vs. SGOV — Risk / Return Rank
BITX
SGOV
BITX vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| BITX | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.12 | ||
| Sortino ratioReturn per unit of downside risk | -277.15 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 195.55 | -194.72 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 398.20 | -399.10 |
| Martin ratioReturn relative to average drawdown | -1.46 | 4,461.99 | -4,463.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITX | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 20.28 | -21.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 14.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 12.50 | -12.48 |
Drawdowns
BITX vs. SGOV - Drawdown Comparison
The maximum BITX drawdown since its inception was -82.16%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BITX and SGOV.
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Drawdown Indicators
| BITX | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -0.03% | -82.13% |
Max Drawdown (1Y)Largest decline over 1 year | -82.16% | -0.01% | -82.15% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -80.39% | 0.00% | -80.39% |
Average DrawdownAverage peak-to-trough decline | -31.90% | -0.00% | -31.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.80% | 0.00% | +50.80% |
Volatility
BITX vs. SGOV - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) has a higher volatility of 23.70% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.70% | 0.06% | +23.64% |
Volatility (6M)Calculated over the trailing 6-month period | 69.45% | 0.13% | +69.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.88% | 0.20% | +87.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.49% | 0.24% | +98.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.49% | 0.24% | +98.25% |
BITX vs. SGOV - Expense Ratio Comparison
BITX has a 2.38% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
BITX vs. SGOV - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 35.74%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 35.74% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
BITX and SGOV have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (23.70%) compared to SGOV (0.06%). In terms of maximum drawdown, BITX dropped -82.16% vs SGOV's -0.03%.
On 1-year performance, SGOV leads with 3.95% vs -73.99% for BITX. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SGOV has performed better with a 3.95% return vs -73.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 35.74%, compared with 3.85% for SGOV.
BITX is categorized as Cryptocurrency, while SGOV is Ultrashort Bond. BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Volatility Shares and iShares. Their fees differ too: 2.38% for BITX and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.85), 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.
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