BRHY vs. BITI
BRHY (iShares High Yield Active ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BRHY is a High Yield Bonds fund actively managed by iShares, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. BRHY is actively managed, while BITI is passively managed. Over the past year, BRHY returned 6.77% vs 64.31% for BITI. At a correlation of -0.36, they often move in opposite directions. BRHY charges 0.45%/yr vs 1.03%/yr for BITI.
Performance
BRHY vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, BRHY achieves a 2.25% return, which is significantly lower than BITI's 23.84% return.
BRHY
- 1D
- 0.14%
- 1M
- 0.50%
- 6M
- 1.77%
- YTD
- 2.25%
- 1Y
- 6.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
BRHY vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRHY iShares High Yield Active ETF | 2.25% | 9.74% | 5.16% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -36.30% |
Correlation
The correlation between BRHY and BITI is -0.40, 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 | -0.40 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2024 | -0.36 |
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Return for Risk
BRHY vs. BITI — Risk / Return Rank
BRHY
BITI
BRHY vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Active ETF (BRHY) 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.
| BRHY | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.24 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.56 | -0.10 |
| Martin ratioReturn relative to average drawdown | 11.30 | 6.37 | +4.94 |
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Drawdowns
BRHY vs. BITI - Drawdown Comparison
The maximum BRHY drawdown since its inception was -4.42%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BRHY and BITI.
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Drawdown Indicators
| BRHY | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.42% | -92.16% | +87.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -25.28% | +22.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.63% | — |
Current DrawdownCurrent decline from peak | -0.19% | -86.48% | +86.29% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -68.36% | +67.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 10.13% | -9.53% |
Volatility
BRHY vs. BITI - Volatility Comparison
The current volatility for iShares High Yield Active ETF (BRHY) is 0.73%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that BRHY 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.
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Volatility by Period
| BRHY | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 11.73% | -11.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 34.49% | -31.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 44.24% | -41.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.97% | 52.29% | -48.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.97% | 52.29% | -48.32% |
BRHY vs. BITI - Expense Ratio Comparison
BRHY has a 0.45% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
BRHY vs. BITI - Dividend Comparison
BRHY's dividend yield for the trailing twelve months is around 7.56%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% |
BRHY iShares High Yield Active ETF | 7.56% | 7.97% | 4.27% | 0.00% | 0.00% |
Frequently Asked Questions
BRHY and BITI have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.73%) compared to BRHY (0.73%). In terms of maximum drawdown, BRHY dropped -4.42% vs BITI's -92.16%.
On 1-year performance, BITI leads with 64.31% vs 6.77% for BRHY. On fees, BRHY is cheaper at 0.45% per year. On volatility, BRHY has been the lower-risk option at 0.73%. 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 64.31% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BRHY is cheaper with a 0.45% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 7.56% for BRHY.
BRHY is categorized as High Yield Bonds, while BITI is Cryptocurrency. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.45% for BRHY and 1.03% for BITI.
BRHY currently has the higher Sharpe Ratio (2.11 vs 1.46), 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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