BTCZ vs. SBIT

Last updated Jun 4, 2026

BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both Cryptocurrency funds. BTCZ is actively managed, while SBIT is passively managed. Over the past year, BTCZ returned 55.67% vs 68.00% for SBIT. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.95% expense ratio.

Performance

BTCZ vs. SBIT - 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 Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCZ achieves a 32.54% return, which is significantly lower than SBIT's 37.02% return.

BTCZ

• 1D: 5.28%
• 1M: 46.26%
• YTD: 32.54%
• 6M: 46.67%
• 1Y: 55.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.42%
• 1M: 46.58%
• YTD: 37.02%
• 6M: 52.37%
• 1Y: 68.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCZ vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	32.54%	-29.11%	-76.58%
SBIT Proshares Ultrashort Bitcoin ETF	37.02%	-25.11%	-75.98%

Correlation

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

Return for Risk

BTCZ vs. SBIT — Risk / Return Rank

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

BTCZ

BTCZ Risk / Return Rank: 23
BTCZ Sharpe Ratio Rank: 19
BTCZ Sortino Ratio Rank: 26
BTCZ Omega Ratio Rank: 25
BTCZ Calmar Ratio Rank: 25
BTCZ Martin Ratio Rank: 19

SBIT

SBIT Risk / Return Rank: 26
SBIT Sharpe Ratio Rank: 22
SBIT Sortino Ratio Rank: 28
SBIT Omega Ratio Rank: 27
SBIT Calmar Ratio Rank: 29
SBIT Martin Ratio Rank: 22

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. SBIT - 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 Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio Return per unit of total volatility	0.64	0.78	-0.14
Sortino ratio Return per unit of downside risk	1.40	1.54	-0.14
Omega ratio Gain probability vs. loss probability	1.17	1.18	-0.02
Calmar ratio Return relative to maximum drawdown	1.14	1.43	-0.28
Martin ratio Return relative to average drawdown	2.17	2.76	-0.59
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. SBIT - Sharpe Ratio Comparison

The current BTCZ Sharpe Ratio is 0.64, which is comparable to the SBIT Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of BTCZ and SBIT, 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	SBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	0.78	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.57	-0.46	-0.11

Drawdowns

BTCZ vs. SBIT - Drawdown Comparison

The maximum BTCZ drawdown since its inception was -91.06%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for BTCZ and SBIT.

Drawdown Indicators

	BTCZ	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-91.06%	-91.35%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-49.02%	-47.94%	-1.08%
Current Drawdown Current decline from peak	-78.63%	-78.26%	-0.37%
Average Drawdown Average peak-to-trough decline	-73.72%	-68.55%	-5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.74%	24.69%	+1.05%

Volatility

BTCZ vs. SBIT - Volatility Comparison

T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and Proshares Ultrashort Bitcoin ETF (SBIT) have volatilities of 17.94% and 18.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCZ	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.94%	18.22%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	68.50%	68.46%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	87.46%	87.18%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.12%	97.47%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.12%	97.47%	-0.35%

BTCZ vs. SBIT - Expense Ratio Comparison

Both BTCZ and SBIT have an expense ratio of 0.95%.

Dividends

BTCZ vs. SBIT - Dividend Comparison

BTCZ's dividend yield for the trailing twelve months is around 0.01%, less than SBIT's 3.42% yield.

Position	TTM	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%
SBIT Proshares Ultrashort Bitcoin ETF	3.42%	0.52%	1.00%

Frequently Asked Questions

Can I hold both BTCZ and SBIT in my portfolio?

With a correlation of 1.00, BTCZ and SBIT 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 SBIT?

SBIT has higher volatility (18.22%) compared to BTCZ (17.94%). In terms of maximum drawdown, BTCZ dropped -91.06% vs SBIT's -91.35%.

Which ETF is better, BTCZ or SBIT?

On 1-year performance, SBIT leads with 68.00% vs 55.67% for BTCZ. Both ETFs have the same 0.95% expense ratio. On volatility, BTCZ has been the lower-risk option at 17.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCZ or SBIT?

Over the 1-year period, SBIT has performed better with a 68.00% return vs 55.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCZ or SBIT?

BTCZ and SBIT have the same expense ratio: 0.95% per year.

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

SBIT has the higher dividend yield at 3.42%, compared with 0.01% for BTCZ.

What is the main difference between BTCZ and SBIT?

They also come from different issuers: T-Rex and ProShares.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (0.78 vs 0.64), 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.