BITY vs. BITI

Last updated Jul 14, 2026

BITY (Amplify Bitcoin 2% Monthly Option Income ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BITY is a Derivative Income fund actively managed by Amplify, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. BITY is actively managed, while BITI is passively managed. Over the past year, BITY returned -46.57% vs 68.34% for BITI. At a correlation of -0.99, they often move in opposite directions. BITY charges 0.65%/yr vs 1.03%/yr for BITI.

Performance

BITY vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITY achieves a -27.84% return, which is significantly lower than BITI's 28.75% return.

BITY

• 1D: -3.03%
• 1M: -3.75%
• 6M: -31.18%
• YTD: -27.84%
• 1Y: -46.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

BITY vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
BITY Amplify Bitcoin 2% Monthly Option Income ETF	-27.84%	-7.84%
BITI ProShares Short Bitcoin ETF	28.75%	4.86%

Correlation

The correlation between BITY and BITI is -0.99, 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 (1Y) Calculated over the trailing 1-year period	-0.99
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	-0.99

The correlation between BITY and BITI has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.

Return for Risk

BITY vs. BITI — Risk / Return Rank

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

BITY

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

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

BITY vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and ProShares Short Bitcoin ETF (BITI). 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.

	BITY	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-1.13	1.56	-2.69
Sortino ratio: Return per unit of downside risk	-1.73	2.13	-3.85
Omega ratio: Gain probability vs. loss probability	0.81	1.26	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.92	2.72	-3.64
Martin ratio: Return relative to average drawdown	-1.52	6.78	-8.30

BITY vs. BITI - Sharpe Ratio Comparison

The current BITY Sharpe Ratio is -1.13, which is lower than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of BITY and BITI, 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

BITY vs. BITI - Drawdown Comparison

The maximum BITY drawdown since its inception was -50.87%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BITY and BITI.

Drawdown Indicators

	BITY	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-50.87%	-92.16%	+41.29%
Max Drawdown (1Y) Largest decline over 1 year	-50.87%	-25.28%	-25.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-48.85%	-85.94%	+37.09%
Average Drawdown Average peak-to-trough decline	-22.05%	-68.34%	+46.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.65%	10.11%	+20.54%

Volatility

BITY vs. BITI - Volatility Comparison

Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and ProShares Short Bitcoin ETF (BITI) have volatilities of 11.12% and 11.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITY	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.12%	11.38%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	32.34%	34.25%	-1.91%
Volatility (1Y) Calculated over the trailing 1-year period	41.37%	44.14%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.36%	52.28%	-12.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.36%	52.28%	-12.92%

BITY vs. BITI - Expense Ratio Comparison

BITY has a 0.65% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

BITY vs. BITI - Dividend Comparison

BITY's dividend yield for the trailing twelve months is around 40.57%, more than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
BITY Amplify Bitcoin 2% Monthly Option Income ETF	40.57%	21.53%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITY and BITI in my portfolio?

BITY and BITI have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITY or BITI?

BITI has higher volatility (11.38%) compared to BITY (11.12%). In terms of maximum drawdown, BITY dropped -50.87% vs BITI's -92.16%.

Which ETF is better, BITY or BITI?

On 1-year performance, BITI leads with 68.34% vs -46.57% for BITY. On fees, BITY is cheaper at 0.65% per year. On volatility, BITY has been the lower-risk option at 11.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITY or BITI?

Over the 1-year period, BITI has performed better with a 68.34% return vs -46.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITY or BITI?

BITY is cheaper with a 0.65% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, BITY or BITI?

BITY has the higher dividend yield at 40.57%, compared with 15.10% for BITI.

What is the main difference between BITY and BITI?

BITY is categorized as Derivative Income, while BITI is Cryptocurrency. They also come from different issuers: Amplify and ProShares. Their fees differ too: 0.65% for BITY and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs -1.13), 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.