BLOX vs. BITI

Last updated Apr 2, 2026

Compare and contrast key facts about Nicholas Crypto Income ETF (BLOX) and ProShares Shrt Bitcoin ETF (BITI).

BLOX and BITI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BLOX is an actively managed fund by Nicholas. It was launched on Jun 16, 2025. BITI is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-100%). It was launched on Jun 21, 2022.

Performance

BLOX vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Crypto Income ETF (BLOX) and ProShares Shrt Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

BLOX vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	-18.45%	9.24%
BITI ProShares Shrt Bitcoin ETF	20.02%	16.05%

Returns By Period

In the year-to-date period, BLOX achieves a -18.45% return, which is significantly lower than BITI's 20.02% return.

BLOX

• 1D: 0.46%
• 1M: -12.15%
• YTD: -18.45%
• 6M: -37.07%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: -0.46%
• 1M: 0.37%
• YTD: 20.02%
• 6M: 56.40%
• 1Y: 10.94%
• 3Y*: -34.13%
• 5Y*: —
• 10Y*: —

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

BLOX vs. BITI - Expense Ratio Comparison

Both BLOX and BITI have an expense ratio of 1.03%.

BLOX

Nicholas Crypto Income ETF

BITI

ProShares Shrt Bitcoin ETF

Return for Risk

BLOX vs. BITI — Risk / Return Rank

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

BITI

BITI Risk / Return Rank: 18
BITI Sharpe Ratio Rank: 18
BITI Sortino Ratio Rank: 22
BITI Omega Ratio Rank: 20
BITI Calmar Ratio Rank: 15
BITI Martin Ratio Rank: 14

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.

BLOX vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) and ProShares Shrt 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.

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

Sharpe Ratios by Period

	BLOX	BITI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	-0.75	+0.50

Correlation

The correlation between BLOX and BITI is -0.83. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BLOX vs. BITI - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 42.04%, more than BITI's 8.23% yield.

	TTM	2025	2024	2023	2022
BLOX Nicholas Crypto Income ETF	42.04%	22.69%	0.00%	0.00%	0.00%
BITI ProShares Shrt Bitcoin ETF	8.23%	1.60%	3.91%	3.33%	0.06%

Drawdowns

BLOX vs. BITI - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BLOX and BITI.

Drawdown Indicators

	BLOX	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-92.16%	+45.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.64%	—
Current Drawdown Current decline from peak	-43.63%	-86.90%	+43.27%
Average Drawdown Average peak-to-trough decline	-16.70%	-67.03%	+50.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.26%	—

Volatility

Volatility by Period

	BLOX	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	55.26%	45.20%	+10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.26%	53.18%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.26%	53.18%	+2.08%