CFA vs. BITI
CFA (VictoryShares US 500 Volatility Weighted ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - CFA is a Low Volatility fund tracking the Nasdaq Victory U.S. Large Cap 500 Volatility Weighted Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, CFA returned 12.46%/yr vs -31.77%/yr for BITI. Their -0.33 correlation means they have often moved in opposite directions in the past. CFA charges 0.35%/yr vs 1.03%/yr for BITI.
Performance
CFA vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, CFA achieves a 10.24% return, which is significantly lower than BITI's 27.11% return.
CFA
- 1D
- -0.18%
- 1M
- 0.23%
- 6M
- 7.04%
- YTD
- 10.24%
- 1Y
- 15.32%
- 3Y*
- 12.46%
- 5Y*
- 7.95%
- 10Y*
- 11.58%
- ALL TIME*
- 10.46%
BITI
- 1D
- 3.01%
- 1M
- -2.58%
- 6M
- 22.77%
- YTD
- 27.11%
- 1Y
- 58.64%
- 3Y*
- -31.77%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $524.86K | $498.13K | $606.17K |
CFA vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CFA VictoryShares US 500 Volatility Weighted ETF | 10.24% | 8.63% | 15.34% | 11.85% | 10.07% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between CFA and BITI is -0.34, 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. | -0.34 |
Correlation (3Y) Balances recent behavior with more history. | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.33 |
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Return for Risk
CFA vs. BITI — Risk / Return Rank
CFA
BITI
CFA vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US 500 Volatility Weighted ETF (CFA) 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.
| CFA | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.53 | -0.52 |
| Martin ratioReturn relative to average drawdown | 7.58 | 6.17 | +1.41 |
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Drawdowns
CFA vs. BITI - Drawdown Comparison
The maximum CFA drawdown since its inception was -37.74%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for CFA and BITI.
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Drawdown Indicators
| CFA | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.74% | -92.16% | +54.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -25.28% | +18.15% |
Max Drawdown (3Y)Largest decline over 3 years | -17.28% | -84.63% | +67.35% |
Max Drawdown (5Y)Largest decline over 5 years | -20.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.74% | — | — |
Current DrawdownCurrent decline from peak | -1.36% | -86.12% | +84.76% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -68.59% | +64.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 10.35% | -8.46% |
Volatility
CFA vs. BITI - Volatility Comparison
The current volatility for VictoryShares US 500 Volatility Weighted ETF (CFA) is 2.68%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that CFA 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
| CFA | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 9.13% | -6.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 33.31% | -25.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.75% | 44.23% | -33.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.03% | 52.03% | -37.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.14% | 52.03% | -34.89% |
CFA vs. BITI - Expense Ratio Comparison
CFA has a 0.35% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
CFA vs. BITI - Dividend Comparison
CFA's dividend yield for the trailing twelve months is around 1.22%, less than BITI's 15.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CFA VictoryShares US 500 Volatility Weighted ETF | 1.22% | 1.29% | 1.32% | 1.42% | 1.59% | 1.04% | 1.21% | 1.35% | 1.50% | 1.15% | 1.37% | 1.31% |
Frequently Asked Questions
CFA and BITI have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (9.13%) compared to CFA (2.68%). In terms of maximum drawdown, CFA dropped -37.74% vs BITI's -92.16%.
On 3-year performance, CFA leads with 12.46% vs -31.77% for BITI. On fees, CFA is cheaper at 0.35% per year. On volatility, CFA has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CFA has performed better with a 12.46% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CFA is cheaper with a 0.35% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 1.22% for CFA.
CFA is categorized as Low Volatility, while BITI is Cryptocurrency. CFA tracks Nasdaq Victory U.S. Large Cap 500 Volatility Weighted Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: VictoryShares and ProShares. Their fees differ too: 0.35% for CFA and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.45 vs 1.34), 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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