BTCZ vs. BITI

Last updated Jun 3, 2026

BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) and BITI (ProShares Shrt Bitcoin ETF) are both Cryptocurrency funds. BTCZ is actively managed, while BITI is passively managed. Over the past year, BTCZ returned 42.88% vs 39.52% for BITI. With a 1.00 correlation, they move nearly in lockstep. BTCZ charges 0.95%/yr vs 1.03%/yr for BITI.

Performance

BTCZ vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and ProShares Shrt Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCZ achieves a 25.89% return, which is significantly higher than BITI's 20.81% return.

BTCZ

• 1D: 11.93%
• 1M: 32.84%
• YTD: 25.89%
• 6M: 33.36%
• 1Y: 42.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 5.99%
• 1M: 16.30%
• YTD: 20.81%
• 6M: 25.36%
• 1Y: 39.52%
• 3Y*: -34.67%
• 5Y*: —
• 10Y*: —

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

BTCZ vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	25.89%	-29.11%	-76.58%
BITI ProShares Shrt Bitcoin ETF	20.81%	-1.76%	-44.61%

Correlation

The correlation between BTCZ and BITI is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024	1.00

The correlation between BTCZ and BITI has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

BTCZ vs. BITI — Risk / Return Rank

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

BTCZ

BTCZ Risk / Return Rank: 20
BTCZ Sharpe Ratio Rank: 17
BTCZ Sortino Ratio Rank: 23
BTCZ Omega Ratio Rank: 22
BTCZ Calmar Ratio Rank: 20
BTCZ Martin Ratio Rank: 16

BITI

BITI Risk / Return Rank: 27
BITI Sharpe Ratio Rank: 25
BITI Sortino Ratio Rank: 27
BITI Omega Ratio Rank: 26
BITI Calmar Ratio Rank: 31
BITI Martin Ratio Rank: 25

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.

BTCZ vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) 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.

	BTCZ	BITI	Difference
Sharpe ratio Return per unit of total volatility	0.49	0.91	-0.42
Sortino ratio Return per unit of downside risk	1.25	1.47	-0.21
Omega ratio Gain probability vs. loss probability	1.15	1.17	-0.03
Calmar ratio Return relative to maximum drawdown	0.88	1.57	-0.69
Martin ratio Return relative to average drawdown	1.68	3.37	-1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCZ vs. BITI - Sharpe Ratio Comparison

The current BTCZ Sharpe Ratio is 0.49, which is lower than the BITI Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of BTCZ 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.

Sharpe Ratios by Period

	BTCZ	BITI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	0.91	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	-0.58	-0.73	+0.15

Drawdowns

BTCZ vs. BITI - Drawdown Comparison

The maximum BTCZ drawdown since its inception was -91.06%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BTCZ and BITI.

Drawdown Indicators

	BTCZ	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-91.06%	-92.16%	+1.10%
Max Drawdown (1Y) Largest decline over 1 year	-49.02%	-25.28%	-23.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-79.70%	-86.81%	+7.11%
Average Drawdown Average peak-to-trough decline	-73.71%	-67.93%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.70%	11.79%	+13.91%

Volatility

BTCZ vs. BITI - Volatility Comparison

T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a higher volatility of 18.63% compared to ProShares Shrt Bitcoin ETF (BITI) at 9.60%. This indicates that BTCZ'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.

Volatility by Period

	BTCZ	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.63%	9.60%	+9.03%
Volatility (6M) Calculated over the trailing 6-month period	69.19%	34.38%	+34.81%
Volatility (1Y) Calculated over the trailing 1-year period	87.32%	43.45%	+43.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.14%	52.51%	+44.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.14%	52.51%	+44.63%

BTCZ vs. BITI - Expense Ratio Comparison

BTCZ has a 0.95% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

BTCZ vs. BITI - Dividend Comparison

BTCZ's dividend yield for the trailing twelve months is around 0.01%, less than BITI's 9.77% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Shrt Bitcoin ETF	9.77%	1.60%	3.91%	3.33%	0.06%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTCZ and BITI in my portfolio?

With a correlation of 1.00, BTCZ and BITI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BTCZ or BITI?

BTCZ has higher volatility (18.63%) compared to BITI (9.60%). In terms of maximum drawdown, BTCZ dropped -91.06% vs BITI's -92.16%.

Which ETF is better, BTCZ or BITI?

On 1-year performance, BTCZ leads with 42.88% vs 39.52% for BITI. On fees, BTCZ is cheaper at 0.95% per year. On volatility, BITI 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, BTCZ or BITI?

Over the 1-year period, BTCZ has performed better with a 42.88% return vs 39.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCZ or BITI?

BTCZ is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 9.77%, compared with 0.01% for BTCZ.

What is the main difference between BTCZ and BITI?

They also come from different issuers: T-Rex and ProShares. Their fees differ too: 0.95% for BTCZ and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (0.91 vs 0.49), 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.