CLOA vs. BITI
CLOA (iShares AAA CLO Active ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - CLOA is a CLO fund actively managed by BlackRock, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. CLOA is actively managed, while BITI is passively managed. Over the past 3 years, CLOA returned 6.49%/yr vs -31.54%/yr for BITI. At a correlation of -0.09, they often move in opposite directions. CLOA charges 0.20%/yr vs 1.03%/yr for BITI.
Performance
CLOA vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, CLOA achieves a 2.49% return, which is significantly lower than BITI's 23.84% return.
CLOA
- 1D
- 0.03%
- 1M
- 0.33%
- 6M
- 2.31%
- YTD
- 2.49%
- 1Y
- 5.10%
- 3Y*
- 6.49%
- 5Y*
- —
- 10Y*
- —
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
CLOA vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLOA iShares AAA CLO Active ETF | 2.49% | 5.44% | 7.25% | 8.38% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -63.94% |
Correlation
The correlation between CLOA and BITI is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | -0.09 |
The correlation between CLOA and BITI shifts across timeframes, from -0.24 (1 year) to -0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CLOA vs. BITI — Risk / Return Rank
CLOA
BITI
CLOA vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares AAA CLO Active ETF (CLOA) 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.
| CLOA | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.18 | ||
| Sortino ratioReturn per unit of downside risk | +12.39 | ||
| Omega ratioGain probability vs. loss probability | 3.47 | 1.24 | +2.23 |
| Calmar ratioReturn relative to maximum drawdown | 28.99 | 2.56 | +26.44 |
| Martin ratioReturn relative to average drawdown | 152.61 | 6.37 | +146.24 |
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Drawdowns
CLOA vs. BITI - Drawdown Comparison
The maximum CLOA drawdown since its inception was -1.34%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for CLOA and BITI.
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Drawdown Indicators
| CLOA | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.34% | -92.16% | +90.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -25.28% | +25.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.13% | -84.63% | +83.50% |
Current DrawdownCurrent decline from peak | 0.00% | -86.48% | +86.48% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -68.36% | +68.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 10.13% | -10.10% |
Volatility
CLOA vs. BITI - Volatility Comparison
The current volatility for iShares AAA CLO Active ETF (CLOA) is 0.13%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that CLOA 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
| CLOA | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 11.73% | -11.60% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 34.49% | -34.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 44.24% | -43.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.30% | 52.29% | -50.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.30% | 52.29% | -50.99% |
CLOA vs. BITI - Expense Ratio Comparison
CLOA has a 0.20% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
CLOA vs. BITI - Dividend Comparison
CLOA's dividend yield for the trailing twelve months is around 4.90%, 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% |
CLOA iShares AAA CLO Active ETF | 4.90% | 5.35% | 6.01% | 5.88% | 0.00% |
Frequently Asked Questions
CLOA and BITI have a correlation of -0.24, 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 CLOA (0.13%). In terms of maximum drawdown, CLOA dropped -1.34% vs BITI's -92.16%.
On 3-year performance, CLOA leads with 6.49% vs -31.54% for BITI. On fees, CLOA is cheaper at 0.20% per year. On volatility, CLOA has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CLOA has performed better with a 6.49% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLOA is cheaper with a 0.20% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 4.90% for CLOA.
CLOA is categorized as CLO, while BITI is Cryptocurrency. They also come from different issuers: BlackRock and ProShares. Their fees differ too: 0.20% for CLOA and 1.03% for BITI.
CLOA currently has the higher Sharpe Ratio (7.64 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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