COIW vs. SBIT

Last updated Jul 15, 2026

COIW (COIN WeeklyPay™ ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - COIW is a Derivative Income fund actively managed by Roundhill, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). COIW is actively managed, while SBIT is passively managed. Over the past year, COIW returned -68.62% vs 113.21% for SBIT. At a correlation of -0.73, they often move in opposite directions. COIW charges 0.99%/yr vs 0.95%/yr for SBIT.

Performance

COIW vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in COIN WeeklyPay™ ETF (COIW) 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, COIW achieves a -35.91% return, which is significantly lower than SBIT's 33.13% return.

COIW

• 1D: 3.16%
• 1M: 0.78%
• 6M: -43.66%
• YTD: -35.91%
• 1Y: -68.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: -7.55%
• 1M: -6.22%
• 6M: 56.76%
• YTD: 33.13%
• 1Y: 113.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COIW vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
COIW COIN WeeklyPay™ ETF	-35.91%	-25.92%
SBIT Proshares Ultrashort Bitcoin ETF	33.13%	-19.83%

Correlation

The correlation between COIW and SBIT is -0.77, 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	-0.77
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	-0.73

The correlation between COIW and SBIT has been stable across timeframes, ranging from -0.77 to -0.73 - a consistent structural relationship.

Return for Risk

COIW vs. SBIT — Risk / Return Rank

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

COIW

COIW Risk / Return Rank: 2
COIW Sharpe Ratio Rank: 3
COIW Sortino Ratio Rank: 2
COIW Omega Ratio Rank: 2
COIW Calmar Ratio Rank: 1
COIW Martin Ratio Rank: 3

SBIT

SBIT Risk / Return Rank: 48
SBIT Sharpe Ratio Rank: 45
SBIT Sortino Ratio Rank: 48
SBIT Omega Ratio Rank: 44
SBIT Calmar Ratio Rank: 60
SBIT Martin Ratio Rank: 42

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.

COIW vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for COIN WeeklyPay™ ETF (COIW) 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.

	COIW	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	1.28	-2.12
Sortino ratio: Return per unit of downside risk	-1.42	1.96	-3.38
Omega ratio: Gain probability vs. loss probability	0.84	1.23	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.92	2.37	-3.29
Martin ratio: Return relative to average drawdown	-1.31	5.39	-6.70

COIW vs. SBIT - Sharpe Ratio Comparison

The current COIW Sharpe Ratio is -0.84, which is lower than the SBIT Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of COIW 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

COIW vs. SBIT - Drawdown Comparison

The maximum COIW drawdown since its inception was -75.01%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for COIW and SBIT.

Drawdown Indicators

	COIW	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-75.01%	-91.35%	+16.34%
Max Drawdown (1Y) Largest decline over 1 year	-75.01%	-47.94%	-27.07%
Current Drawdown Current decline from peak	-70.98%	-78.87%	+7.89%
Average Drawdown Average peak-to-trough decline	-40.61%	-68.85%	+28.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.21%	21.08%	+31.13%

Volatility

COIW vs. SBIT - Volatility Comparison

The current volatility for COIN WeeklyPay™ ETF (COIW) is 20.10%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 23.66%. This indicates that COIW 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

	COIW	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.10%	23.66%	-3.56%
Volatility (6M) Calculated over the trailing 6-month period	64.20%	69.36%	-5.16%
Volatility (1Y) Calculated over the trailing 1-year period	81.91%	88.70%	-6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.78%	96.93%	-7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.78%	96.93%	-7.15%

COIW vs. SBIT - Expense Ratio Comparison

COIW has a 0.99% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

COIW vs. SBIT - Dividend Comparison

COIW's dividend yield for the trailing twelve months is around 221.37%, more than SBIT's 4.30% yield.

Position	TTM	2025	2024
COIW COIN WeeklyPay™ ETF	221.37%	120.37%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	4.30%	0.52%	1.00%

Frequently Asked Questions

Can I hold both COIW and SBIT in my portfolio?

COIW and SBIT have a correlation of -0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COIW or SBIT?

SBIT has higher volatility (23.66%) compared to COIW (20.10%). In terms of maximum drawdown, COIW dropped -75.01% vs SBIT's -91.35%.

Which ETF is better, COIW or SBIT?

On 1-year performance, SBIT leads with 113.21% vs -68.62% for COIW. On fees, SBIT is cheaper at 0.95% per year. On volatility, COIW has been the lower-risk option at 20.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COIW or SBIT?

Over the 1-year period, SBIT has performed better with a 113.21% return vs -68.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COIW or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 0.99% for COIW.

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

COIW has the higher dividend yield at 221.37%, compared with 4.30% for SBIT.

What is the main difference between COIW and SBIT?

COIW is categorized as Derivative Income, while SBIT is Cryptocurrency. They also come from different issuers: Roundhill and ProShares. Their fees differ too: 0.99% for COIW and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.28 vs -0.84), 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.