BLOX vs. BITI
BLOX (Nicholas Crypto Income ETF) and BITI (ProShares Short Bitcoin ETF) are both Cryptocurrency funds. BLOX is actively managed, while BITI is passively managed. Over the past year, BLOX returned -6.15% vs 56.28% for BITI. Their -0.76 correlation means they have often moved in opposite directions in the past. Both charge a 1.03% expense ratio.
Performance
BLOX vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, BLOX achieves a -1.70% return, which is significantly lower than BITI's 25.22% return.
BLOX
- 1D
- 3.66%
- 1M
- -0.32%
- 6M
- -1.27%
- YTD
- -1.70%
- 1Y
- -6.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.59%
BITI
- 1D
- -1.48%
- 1M
- -4.03%
- 6M
- 13.09%
- YTD
- 25.22%
- 1Y
- 56.28%
- 3Y*
- -32.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.18M | $25.87M | $38.72M | |
| $4.89M | $4.95M | $6.25M |
BLOX vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BLOX Nicholas Crypto Income ETF | -1.70% | 8.17% |
BITI ProShares Short Bitcoin ETF | 25.22% | 20.47% |
Correlation
The correlation between BLOX and BITI is -0.76, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | -0.76 |
The correlation between BLOX and BITI has been stable across timeframes, ranging from -0.76 to -0.76 - a consistent structural relationship.
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Return for Risk
BLOX vs. BITI — Risk / Return Rank
BLOX
BITI
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 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.
| BLOX | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.22 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 2.24 | -2.37 |
| Martin ratioReturn relative to average drawdown | -0.24 | 5.45 | -5.69 |
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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.
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Drawdown Indicators
| BLOX | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.09% | -92.16% | +45.07% |
Max Drawdown (1Y)Largest decline over 1 year | -47.09% | -25.28% | -21.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.63% | — |
Current DrawdownCurrent decline from peak | -32.04% | -86.33% | +54.29% |
Average DrawdownAverage peak-to-trough decline | -19.87% | -68.61% | +48.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.62% | 10.37% | +15.25% |
Volatility
BLOX vs. BITI - Volatility Comparison
Nicholas Crypto Income ETF (BLOX) has a higher volatility of 20.56% compared to ProShares Short Bitcoin ETF (BITI) at 8.93%. This indicates that BLOX's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLOX | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.56% | 8.93% | +11.63% |
Volatility (6M)Calculated over the trailing 6-month period | 43.37% | 33.35% | +10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.97% | 44.25% | +12.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.14% | 52.01% | +3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.14% | 52.01% | +3.13% |
BLOX vs. BITI - Expense Ratio Comparison
Both BLOX and BITI have an expense ratio of 1.03%.
Dividends
BLOX vs. BITI - Dividend Comparison
BLOX's dividend yield for the trailing twelve months is around 47.94%, more than BITI's 21.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% |
BLOX Nicholas Crypto Income ETF | 47.94% | 22.69% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BLOX and BITI have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BLOX has higher volatility (20.56%) compared to BITI (8.93%). In terms of maximum drawdown, BLOX dropped -47.09% vs BITI's -92.16%.
On 1-year performance, BITI leads with 56.28% vs -6.15% for BLOX. Both ETFs have the same 1.03% expense ratio. On volatility, BITI has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BITI has performed better with a 56.28% return vs -6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BLOX and BITI have the same expense ratio: 1.03% per year.
BLOX has the higher dividend yield at 47.94%, compared with 21.80% for BITI.
They also come from different issuers: Nicholas and ProShares.
BITI currently has the higher Sharpe Ratio (1.28 vs -0.11), 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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