BLCN vs. BITI

Last updated Jul 18, 2026

BLCN (Siren ETF Trust Siren Nasdaq NexGen Economy ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BLCN is a Large Cap Blend Equities fund tracking the Siren NASDAQ Blockchain Economy Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, BLCN returned 2.06%/yr vs -31.71%/yr for BITI. At a correlation of -0.51, they often move in opposite directions. BLCN charges 0.68%/yr vs 1.03%/yr for BITI.

Performance

BLCN vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) 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, BLCN achieves a 1.35% return, which is significantly lower than BITI's 24.73% return.

BLCN

• 1D: 0.00%
• 1M: -8.06%
• 6M: -3.53%
• YTD: 1.35%
• 1Y: -1.22%
• 3Y*: 2.06%
• 5Y*: -10.83%
• 10Y*: —

BITI

• 1D: 0.20%
• 1M: -0.52%
• 6M: 36.51%
• YTD: 24.73%
• 1Y: 64.56%
• 3Y*: -31.71%
• 5Y*: —
• 10Y*: —

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

BLCN vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	1.35%	-3.69%	5.62%	21.09%	-21.82%
BITI ProShares Short Bitcoin ETF	24.73%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between BLCN and BITI is -0.45, 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	-0.45
Correlation (3Y) Calculated over the trailing 3-year period	-0.47
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.51

The correlation between BLCN and BITI has been stable across timeframes, ranging from -0.51 to -0.45 - a consistent structural relationship.

Return for Risk

BLCN vs. BITI — Risk / Return Rank

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

BLCN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 54
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 65
BITI Martin Ratio Rank: 48

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.

BLCN vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) 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.

	BLCN	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.02	1.47	-1.45
Sortino ratio: Return per unit of downside risk	0.30	2.04	-1.74
Omega ratio: Gain probability vs. loss probability	1.04	1.25	-0.21
Calmar ratio: Return relative to maximum drawdown	0.03	2.57	-2.54
Martin ratio: Return relative to average drawdown	0.05	6.36	-6.31

BLCN vs. BITI - Sharpe Ratio Comparison

The current BLCN Sharpe Ratio is 0.02, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of BLCN 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

BLCN vs. BITI - Drawdown Comparison

The maximum BLCN drawdown since its inception was -67.51%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BLCN and BITI.

Drawdown Indicators

	BLCN	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-92.16%	+24.65%
Max Drawdown (1Y) Largest decline over 1 year	-29.53%	-25.28%	-4.25%
Max Drawdown (3Y) Largest decline over 3 years	-45.26%	-84.63%	+39.37%
Max Drawdown (5Y) Largest decline over 5 years	-67.51%	—	—
Current Drawdown Current decline from peak	-50.81%	-86.38%	+35.57%
Average Drawdown Average peak-to-trough decline	-30.52%	-68.42%	+37.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.43%	10.18%	+4.25%

Volatility

BLCN vs. BITI - Volatility Comparison

The current volatility for Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) is 9.60%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.69%. This indicates that BLCN experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLCN	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.60%	10.69%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	28.35%	34.09%	-5.74%
Volatility (1Y) Calculated over the trailing 1-year period	37.43%	44.07%	-6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.38%	52.21%	-16.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.34%	52.21%	-20.87%

BLCN vs. BITI - Expense Ratio Comparison

BLCN has a 0.68% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

BLCN vs. BITI - Dividend Comparison

BLCN has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITI ProShares Short Bitcoin ETF	15.59%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	2.85%	3.01%	0.67%	0.54%	1.28%	0.56%	0.58%	1.45%	1.16%

Frequently Asked Questions

Can I hold both BLCN and BITI in my portfolio?

BLCN and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLCN or BITI?

BITI has higher volatility (10.69%) compared to BLCN (9.60%). In terms of maximum drawdown, BLCN dropped -67.51% vs BITI's -92.16%.

Which ETF is better, BLCN or BITI?

On 3-year performance, BLCN leads with 2.06% vs -31.71% for BITI. On fees, BLCN is cheaper at 0.68% per year. On volatility, BLCN has been the lower-risk option at 9.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLCN or BITI?

Over the 3-year period, BLCN has performed better with a 2.06% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLCN or BITI?

BLCN is cheaper with a 0.68% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.59%, compared with 2.85% for BLCN.

What is the main difference between BLCN and BITI?

BLCN is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. BLCN tracks Siren NASDAQ Blockchain Economy Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: SRN Advisors and ProShares. Their fees differ too: 0.68% for BLCN and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 0.02), 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.