DARP vs. BITI

Last updated Jul 17, 2026

DARP (Grizzle Growth ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DARP is a Large Cap Growth Equities fund actively managed by Grizzle, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. DARP is actively managed, while BITI is passively managed. Over the past year, DARP returned 52.56% vs 64.61% for BITI. At a correlation of -0.38, they often move in opposite directions. DARP charges 0.75%/yr vs 1.03%/yr for BITI.

Performance

DARP vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grizzle Growth ETF (DARP) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DARP achieves a 22.80% return, which is significantly lower than BITI's 24.48% return.

DARP

• 1D: -2.89%
• 1M: -3.83%
• 6M: 16.21%
• YTD: 22.80%
• 1Y: 52.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

DARP vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DARP Grizzle Growth ETF	22.80%	40.19%	24.63%	6.25%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-39.77%

Correlation

The correlation between DARP and BITI is -0.43, 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	-0.43
Correlation (All Time) Calculated using the full available price history since Aug 28, 2023	-0.38

Return for Risk

DARP vs. BITI — Risk / Return Rank

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

DARP

DARP Risk / Return Rank: 79
DARP Sharpe Ratio Rank: 81
DARP Sortino Ratio Rank: 69
DARP Omega Ratio Rank: 69
DARP Calmar Ratio Rank: 91
DARP Martin Ratio Rank: 88

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

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.

DARP vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) 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.

	DARP	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.47	+0.58
Sortino ratio: Return per unit of downside risk	2.51	2.04	+0.47
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.08
Calmar ratio: Return relative to maximum drawdown	4.47	2.57	+1.90
Martin ratio: Return relative to average drawdown	14.84	6.38	+8.47

DARP vs. BITI - Sharpe Ratio Comparison

The current DARP Sharpe Ratio is 2.05, which is higher than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of DARP and BITI, 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

DARP vs. BITI - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DARP and BITI.

Drawdown Indicators

	DARP	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-92.16%	+61.89%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-25.28%	+13.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-8.14%	-86.41%	+78.27%
Average Drawdown Average peak-to-trough decline	-4.64%	-68.40%	+63.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	10.16%	-6.61%

Volatility

DARP vs. BITI - Volatility Comparison

The current volatility for Grizzle Growth ETF (DARP) is 10.07%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that DARP 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.

Volatility by Period

	DARP	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.07%	10.76%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	20.22%	34.28%	-14.06%
Volatility (1Y) Calculated over the trailing 1-year period	25.76%	44.15%	-18.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.61%	52.24%	-25.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.61%	52.24%	-25.63%

DARP vs. BITI - Expense Ratio Comparison

DARP has a 0.75% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

DARP vs. BITI - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.35%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
DARP Grizzle Growth ETF	0.35%	0.43%	1.93%	0.32%	0.00%

Frequently Asked Questions

Can I hold both DARP and BITI in my portfolio?

DARP and BITI have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DARP or BITI?

BITI has higher volatility (10.76%) compared to DARP (10.07%). In terms of maximum drawdown, DARP dropped -30.27% vs BITI's -92.16%.

Which ETF is better, DARP or BITI?

On 1-year performance, BITI leads with 64.61% vs 52.56% for DARP. On fees, DARP is cheaper at 0.75% per year. On volatility, DARP has been the lower-risk option at 10.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DARP or BITI?

Over the 1-year period, BITI has performed better with a 64.61% return vs 52.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DARP or BITI?

DARP is cheaper with a 0.75% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, DARP or BITI?

BITI has the higher dividend yield at 15.62%, compared with 0.35% for DARP.

What is the main difference between DARP and BITI?

DARP is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. They also come from different issuers: Grizzle and ProShares. Their fees differ too: 0.75% for DARP and 1.03% for BITI.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (2.05 vs 1.47), 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.