COWG vs. BITI
COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - COWG is a Large Cap Growth Equities fund tracking the Pacer US Large Cap Cash Cows Growth Leaders Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, COWG returned 20.84%/yr vs -30.65%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. COWG charges 0.49%/yr vs 1.03%/yr for BITI.
Performance
COWG vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, COWG achieves a 9.67% return, which is significantly lower than BITI's 28.75% return.
COWG
- 1D
- -1.68%
- 1M
- -0.90%
- 6M
- 6.06%
- YTD
- 9.67%
- 1Y
- 11.98%
- 3Y*
- 20.84%
- 5Y*
- —
- 10Y*
- —
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
COWG vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF | 9.67% | 10.24% | 34.99% | 20.69% | -0.68% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 0.12% |
Correlation
The correlation between COWG and BITI is -0.48, 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 | -0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | -0.35 |
The correlation between COWG and BITI shifts across timeframes, from -0.48 (1 year) to -0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COWG vs. BITI — Risk / Return Rank
COWG
BITI
COWG vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) 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.
| COWG | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.26 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.72 | -1.60 |
| Martin ratioReturn relative to average drawdown | 3.19 | 6.78 | -3.58 |
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Drawdowns
COWG vs. BITI - Drawdown Comparison
The maximum COWG drawdown since its inception was -23.60%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for COWG and BITI.
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Drawdown Indicators
| COWG | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.60% | -92.16% | +68.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -25.28% | +14.49% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -84.63% | +61.03% |
Current DrawdownCurrent decline from peak | -3.92% | -85.94% | +82.02% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -68.34% | +65.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 10.11% | -6.35% |
Volatility
COWG vs. BITI - Volatility Comparison
The current volatility for Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) is 7.68%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that COWG 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
| COWG | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 11.38% | -3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 34.25% | -20.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.77% | 44.14% | -26.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.37% | 52.28% | -32.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.37% | 52.28% | -32.91% |
COWG vs. BITI - Expense Ratio Comparison
COWG has a 0.49% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
COWG vs. BITI - Dividend Comparison
COWG's dividend yield for the trailing twelve months is around 0.37%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% |
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF | 0.37% | 0.32% | 0.40% | 0.47% | 0.00% |
Frequently Asked Questions
COWG and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.38%) compared to COWG (7.68%). In terms of maximum drawdown, COWG dropped -23.60% vs BITI's -92.16%.
On 3-year performance, COWG leads with 20.84% vs -30.65% for BITI. On fees, COWG is cheaper at 0.49% per year. On volatility, COWG has been the lower-risk option at 7.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COWG has performed better with a 20.84% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COWG is cheaper with a 0.49% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 0.37% for COWG.
COWG is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. COWG tracks Pacer US Large Cap Cash Cows Growth Leaders Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Pacer and ProShares. Their fees differ too: 0.49% for COWG and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.56 vs 0.68), 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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