BITX vs. ZIVB
BITX (2x Bitcoin Strategy ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while ZIVB is a Inverse Equities fund actively managed by Volatility Shares. BITX is passively managed, while ZIVB is actively managed. At a correlation of -0.11, they often move in opposite directions. BITX charges 2.38%/yr vs 1.35%/yr for ZIVB.
Performance
BITX vs. ZIVB - Performance Comparison
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Returns By Period
BITX
- 1D
- 7.45%
- 1M
- 0.87%
- 6M
- -61.05%
- YTD
- -55.00%
- 1Y
- -79.48%
- 3Y*
- 4.38%
- 5Y*
- —
- 10Y*
- —
ZIVB
- 1D
- 0.00%
- 1M
- 2.42%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITX vs. ZIVB - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BITX 2x Bitcoin Strategy ETF | -28.64% |
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF | 33.28% |
Correlation
The correlation between BITX and ZIVB is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 28, 2026 | -0.11 |
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Return for Risk
BITX vs. ZIVB — Risk / Return Rank
BITX
ZIVB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITX vs. ZIVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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 | ZIVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.80 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | — | — |
| Martin ratioReturn relative to average drawdown | -1.40 | — | — |
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Drawdowns
BITX vs. ZIVB - Drawdown Comparison
The maximum BITX drawdown since its inception was -83.45%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for BITX and ZIVB.
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Drawdown Indicators
| BITX | ZIVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.45% | 0.00% | -83.45% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -83.45% | — | — |
Current DrawdownCurrent decline from peak | -80.11% | 0.00% | -80.11% |
Average DrawdownAverage peak-to-trough decline | -33.41% | 0.00% | -33.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.60% | — | — |
Volatility
BITX vs. ZIVB - Volatility Comparison
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Volatility by Period
| BITX | ZIVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.23% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 70.21% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 88.21% | 84.61% | +3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.81% | 84.61% | +13.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.81% | 84.61% | +13.20% |
BITX vs. ZIVB - Expense Ratio Comparison
BITX has a 2.38% expense ratio, which is higher than ZIVB's 1.35% expense ratio.
Dividends
BITX vs. ZIVB - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 31.05%, more than ZIVB's 2.37% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 31.05% | 21.69% | 10.70% |
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF | 2.37% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and ZIVB have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZIVB is cheaper at 1.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZIVB is cheaper with a 1.35% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 31.05%, compared with 2.37% for ZIVB.
BITX is categorized as Cryptocurrency, while ZIVB is Inverse Equities. Their fees differ too: 2.38% for BITX and 1.35% for ZIVB.
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