DBEM vs. BITI
DBEM (Xtrackers MSCI Emerging Markets Hedged Equity ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DBEM is a Emerging Markets Equities fund tracking the MSCI EM US Dollar Hedged Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, DBEM returned 21.35%/yr vs -30.65%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. DBEM charges 0.66%/yr vs 1.03%/yr for BITI.
Performance
DBEM vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, DBEM achieves a 22.75% return, which is significantly lower than BITI's 28.75% return.
DBEM
- 1D
- -3.04%
- 1M
- -4.10%
- 6M
- 15.35%
- YTD
- 22.75%
- 1Y
- 43.79%
- 3Y*
- 21.35%
- 5Y*
- 8.60%
- 10Y*
- 9.51%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
DBEM vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF | 22.75% | 30.42% | 10.61% | 10.53% | -1.92% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between DBEM and BITI is -0.44, 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 | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.34 |
The correlation between DBEM and BITI shifts across timeframes, from -0.44 (1 year) to -0.31 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBEM vs. BITI — Risk / Return Rank
DBEM
BITI
DBEM vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) 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.
| DBEM | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.19 | 2.72 | +1.47 |
| Martin ratioReturn relative to average drawdown | 13.77 | 6.78 | +6.99 |
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Drawdowns
DBEM vs. BITI - Drawdown Comparison
The maximum DBEM drawdown since its inception was -33.51%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DBEM and BITI.
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Drawdown Indicators
| DBEM | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -92.16% | +58.65% |
Max Drawdown (1Y)Largest decline over 1 year | -10.51% | -25.28% | +14.77% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -84.63% | +69.51% |
Max Drawdown (5Y)Largest decline over 5 years | -29.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.51% | — | — |
Current DrawdownCurrent decline from peak | -9.04% | -85.94% | +76.90% |
Average DrawdownAverage peak-to-trough decline | -11.64% | -68.34% | +56.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 10.11% | -6.92% |
Volatility
DBEM vs. BITI - Volatility Comparison
The current volatility for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) is 10.57%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that DBEM 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
| DBEM | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.57% | 11.38% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 19.54% | 34.25% | -14.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.53% | 44.14% | -22.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.87% | 52.28% | -34.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 52.28% | -34.82% |
DBEM vs. BITI - Expense Ratio Comparison
DBEM has a 0.66% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
DBEM vs. BITI - Dividend Comparison
DBEM's dividend yield for the trailing twelve months is around 2.15%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF | 2.15% | 1.84% | 2.48% | 2.55% | 2.65% | 1.77% | 1.74% | 2.59% | 2.85% | 1.51% | 1.59% | 3.49% |
Frequently Asked Questions
DBEM and BITI have a correlation of -0.44, 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 DBEM (10.57%). In terms of maximum drawdown, DBEM dropped -33.51% vs BITI's -92.16%.
On 3-year performance, DBEM leads with 21.35% vs -30.65% for BITI. On fees, DBEM is cheaper at 0.66% per year. On volatility, DBEM has been the lower-risk option at 10.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBEM has performed better with a 21.35% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBEM is cheaper with a 0.66% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 2.15% for DBEM.
DBEM is categorized as Emerging Markets Equities, while BITI is Cryptocurrency. DBEM tracks MSCI EM US Dollar Hedged Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Deutsche Bank and ProShares. Their fees differ too: 0.66% for DBEM and 1.03% for BITI.
DBEM currently has the higher Sharpe Ratio (2.05 vs 1.56), 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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