BULZ vs. BITI
BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BULZ is a Leveraged Equities fund tracking the Solactive FANG Innovation Index (300%), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, BULZ returned 62.45%/yr vs -32.35%/yr for BITI. Their -0.40 correlation means they have often moved in opposite directions in the past. BULZ charges 0.95%/yr vs 1.03%/yr for BITI.
Performance
BULZ vs. BITI - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BULZ having a 25.41% return and BITI slightly lower at 25.22%.
BULZ
- 1D
- 10.00%
- 1M
- -9.61%
- 6M
- 24.24%
- YTD
- 25.41%
- 1Y
- 91.64%
- 3Y*
- 62.45%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.31%
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 | |
| $25.71M | $28.40M | $43.12M |
BULZ vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs | 25.41% | 60.09% | 54.09% | 394.22% | -43.68% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between BULZ and BITI is -0.54, 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. | -0.54 |
Correlation (3Y) Balances recent behavior with more history. | -0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.40 |
The correlation between BULZ and BITI shifts across timeframes, from -0.54 (1 year) to -0.39 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BULZ vs. BITI — Risk / Return Rank
BULZ
BITI
BULZ vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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.
| BULZ | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.24 | -0.57 |
| Martin ratioReturn relative to average drawdown | 3.75 | 5.45 | -1.70 |
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Drawdowns
BULZ vs. BITI - Drawdown Comparison
The maximum BULZ drawdown since its inception was -94.44%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BULZ and BITI.
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Drawdown Indicators
| BULZ | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.44% | -92.16% | -2.28% |
Max Drawdown (1Y)Largest decline over 1 year | -55.29% | -25.28% | -30.01% |
Max Drawdown (3Y)Largest decline over 3 years | -67.96% | -84.63% | +16.67% |
Current DrawdownCurrent decline from peak | -40.91% | -86.33% | +45.42% |
Average DrawdownAverage peak-to-trough decline | -57.56% | -68.61% | +11.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.55% | 10.37% | +14.18% |
Volatility
BULZ vs. BITI - Volatility Comparison
MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) has a higher volatility of 32.71% compared to ProShares Short Bitcoin ETF (BITI) at 8.93%. This indicates that BULZ'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
| BULZ | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.71% | 8.93% | +23.78% |
Volatility (6M)Calculated over the trailing 6-month period | 70.17% | 33.35% | +36.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.84% | 44.25% | +41.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 92.15% | 52.01% | +40.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.15% | 52.01% | +40.14% |
BULZ vs. BITI - Expense Ratio Comparison
BULZ has a 0.95% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
BULZ vs. BITI - Dividend Comparison
BULZ has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 21.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% |
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BULZ and BITI have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BULZ has higher volatility (32.71%) compared to BITI (8.93%). In terms of maximum drawdown, BULZ dropped -94.44% vs BITI's -92.16%.
On 3-year performance, BULZ leads with 62.45% vs -32.35% for BITI. On fees, BULZ is cheaper at 0.95% per year. 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 3-year period, BULZ has performed better with a 62.45% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BULZ is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 21.80%, compared with 0.00% for BULZ.
BULZ is categorized as Leveraged Equities, while BITI is Cryptocurrency. BULZ tracks Solactive FANG Innovation Index (300%), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: BMO and ProShares. Their fees differ too: 0.95% for BULZ and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.28 vs 1.08), 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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