CNAV vs. SBIT

Last updated Aug 1, 2026

CNAV (Mohr Company Nav ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - CNAV is a Large Cap Blend Equities fund actively managed by Mohr, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). CNAV is actively managed, while SBIT is passively managed. Over the past year, CNAV returned 39.18% vs 98.77% for SBIT. Their -0.39 correlation means they have often moved in opposite directions in the past. CNAV charges 1.31%/yr vs 0.95%/yr for SBIT.

Performance

CNAV vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mohr Company Nav ETF (CNAV) 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, CNAV achieves a 24.51% return, which is significantly lower than SBIT's 39.44% return.

CNAV

• 1D: 0.63%
• 1M: -10.01%
• 6M: 18.26%
• YTD: 24.51%
• 1Y: 39.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.73%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CNAV Mohr Company Nav ETF	$249.12K	$293.43K	$339.76K
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

CNAV vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNAV Mohr Company Nav ETF	24.51%	16.80%	6.05%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-62.98%

Correlation

The correlation between CNAV and SBIT is -0.39, 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.	-0.39
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	-0.39

Return for Risk

CNAV vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CNAV

CNAV Risk / Return Rank: 44
CNAV Sharpe Ratio Rank: 43
CNAV Sortino Ratio Rank: 41
CNAV Omega Ratio Rank: 44
CNAV Calmar Ratio Rank: 40
CNAV Martin Ratio Rank: 53

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CNAV vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mohr Company Nav ETF (CNAV) 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.

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.

	CNAV	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.27	-0.21
Sortino ratio: Return per unit of downside risk	1.53	1.95	-0.42
Omega ratio: Gain probability vs. loss probability	1.20	1.23	-0.03
Calmar ratio: Return relative to maximum drawdown	1.40	2.35	-0.95
Martin ratio: Return relative to average drawdown	6.25	5.19	+1.06

CNAV vs. SBIT - Sharpe Ratio Comparison

The current CNAV Sharpe Ratio is 1.06, which is comparable to the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of CNAV 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.

Drawdowns

CNAV vs. SBIT - Drawdown Comparison

The maximum CNAV drawdown since its inception was -30.06%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for CNAV and SBIT.

Drawdown Indicators

	CNAV	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-30.06%	-91.35%	+61.29%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-47.94%	+22.14%
Current Drawdown Current decline from peak	-20.15%	-77.87%	+57.72%
Average Drawdown Average peak-to-trough decline	-5.84%	-69.07%	+63.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.79%	21.67%	-15.88%

Volatility

CNAV vs. SBIT - Volatility Comparison

The current volatility for Mohr Company Nav ETF (CNAV) is 15.97%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that CNAV experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNAV	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.97%	18.09%	-2.12%
Volatility (6M) Calculated over the trailing 6-month period	31.59%	67.10%	-35.51%
Volatility (1Y) Calculated over the trailing 1-year period	34.30%	88.65%	-54.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.45%	96.10%	-64.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.45%	96.10%	-64.65%

CNAV vs. SBIT - Expense Ratio Comparison

CNAV has a 1.31% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

CNAV vs. SBIT - Dividend Comparison

CNAV has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.

Position	TTM	2025	2024
CNAV Mohr Company Nav ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%

Frequently Asked Questions

Can I hold both CNAV and SBIT in my portfolio?

CNAV and SBIT have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNAV or SBIT?

SBIT has higher volatility (18.09%) compared to CNAV (15.97%). In terms of maximum drawdown, CNAV dropped -30.06% vs SBIT's -91.35%.

Which ETF is better, CNAV or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 39.18% for CNAV. On fees, SBIT is cheaper at 0.95% per year. On volatility, CNAV has been the lower-risk option at 15.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNAV or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 39.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNAV or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.31% for CNAV.

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

SBIT has the higher dividend yield at 4.03%, compared with 0.00% for CNAV.

What is the main difference between CNAV and SBIT?

CNAV is categorized as Large Cap Blend Equities, while SBIT is Cryptocurrency. They also come from different issuers: Mohr and ProShares. Their fees differ too: 1.31% for CNAV and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs 1.06), 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.