DBP vs. BITI
DBP (Invesco DB Precious Metals Fund) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, DBP returned 26.26%/yr vs -30.65%/yr for BITI. At a correlation of -0.19, they often move in opposite directions. DBP charges 0.78%/yr vs 1.03%/yr for BITI.
Performance
DBP vs. BITI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBP achieves a -10.64% return, which is significantly lower than BITI's 28.75% return.
DBP
- 1D
- -2.76%
- 1M
- -7.09%
- 6M
- -18.54%
- YTD
- -10.64%
- 1Y
- 21.71%
- 3Y*
- 26.26%
- 5Y*
- 15.32%
- 10Y*
- 9.79%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
DBP vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | -10.64% | 73.43% | 26.71% | 8.68% | 0.56% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between DBP and BITI is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.19 |
The correlation between DBP and BITI shifts across timeframes, from -0.28 (1 year) to -0.16 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DBP vs. BITI — Risk / Return Rank
DBP
BITI
DBP vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) 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.
| DBP | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.26 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.72 | -2.06 |
| Martin ratioReturn relative to average drawdown | 1.53 | 6.78 | -5.25 |
Loading charts...
Drawdowns
DBP vs. BITI - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DBP and BITI.
Loading charts...
Drawdown Indicators
| DBP | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -92.16% | +38.27% |
Max Drawdown (1Y)Largest decline over 1 year | -32.96% | -25.28% | -7.68% |
Max Drawdown (3Y)Largest decline over 3 years | -32.96% | -84.63% | +51.67% |
Max Drawdown (5Y)Largest decline over 5 years | -32.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.96% | — | — |
Current DrawdownCurrent decline from peak | -32.66% | -85.94% | +53.28% |
Average DrawdownAverage peak-to-trough decline | -25.43% | -68.34% | +42.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.23% | 10.11% | +4.12% |
Volatility
DBP vs. BITI - Volatility Comparison
The current volatility for Invesco DB Precious Metals Fund (DBP) is 8.82%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that DBP 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.
Loading charts...
Volatility by Period
| DBP | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.82% | 11.38% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 30.16% | 34.25% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.12% | 44.14% | -10.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.36% | 52.28% | -30.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.90% | 52.28% | -33.38% |
DBP vs. BITI - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
DBP vs. BITI - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.73%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
DBP Invesco DB Precious Metals Fund | 2.73% | 2.44% | 4.21% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% |
Frequently Asked Questions
DBP and BITI have a correlation of -0.28, 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 DBP (8.82%). In terms of maximum drawdown, DBP dropped -53.89% vs BITI's -92.16%.
On 3-year performance, DBP leads with 26.26% vs -30.65% for BITI. On fees, DBP is cheaper at 0.78% per year. On volatility, DBP has been the lower-risk option at 8.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBP has performed better with a 26.26% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBP is cheaper with a 0.78% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 2.73% for DBP.
DBP is categorized as Precious Metals, while BITI is Cryptocurrency. DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.78% for DBP and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.56 vs 0.64), 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.
Find the right allocation for DBP and BITI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer