DFAR vs. BITI

Last updated Jul 17, 2026

DFAR (Dimensional US Real Estate ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DFAR is a REIT fund actively managed by Dimensional, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. DFAR is actively managed, while BITI is passively managed. Over the past 3 years, DFAR returned 10.37%/yr vs -31.62%/yr for BITI. At a correlation of -0.21, they often move in opposite directions. DFAR charges 0.19%/yr vs 1.03%/yr for BITI.

Performance

DFAR vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Real Estate ETF (DFAR) 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, DFAR achieves a 19.14% return, which is significantly lower than BITI's 24.48% return.

DFAR

• 1D: 2.30%
• 1M: 2.97%
• 6M: 15.37%
• YTD: 19.14%
• 1Y: 18.23%
• 3Y*: 10.37%
• 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)

DFAR vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFAR Dimensional US Real Estate ETF	19.14%	1.31%	5.25%	11.04%	-2.73%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between DFAR and BITI is -0.12, 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	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.21

Return for Risk

DFAR vs. BITI — Risk / Return Rank

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

DFAR

DFAR Risk / Return Rank: 47
DFAR Sharpe Ratio Rank: 45
DFAR Sortino Ratio Rank: 44
DFAR Omega Ratio Rank: 43
DFAR Calmar Ratio Rank: 53
DFAR Martin Ratio Rank: 51

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.

DFAR vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Real Estate ETF (DFAR) 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.

	DFAR	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.47	-0.16
Sortino ratio: Return per unit of downside risk	1.85	2.04	-0.19
Omega ratio: Gain probability vs. loss probability	1.23	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	2.17	2.57	-0.40
Martin ratio: Return relative to average drawdown	6.83	6.38	+0.46

DFAR vs. BITI - Sharpe Ratio Comparison

The current DFAR Sharpe Ratio is 1.32, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of DFAR 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

DFAR vs. BITI - Drawdown Comparison

The maximum DFAR drawdown since its inception was -32.27%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DFAR and BITI.

Drawdown Indicators

	DFAR	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-32.27%	-92.16%	+59.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-25.28%	+16.85%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-84.63%	+66.99%
Current Drawdown Current decline from peak	0.00%	-86.41%	+86.41%
Average Drawdown Average peak-to-trough decline	-13.86%	-68.40%	+54.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	10.16%	-7.49%

Volatility

DFAR vs. BITI - Volatility Comparison

The current volatility for Dimensional US Real Estate ETF (DFAR) is 5.18%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that DFAR 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

	DFAR	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.18%	10.76%	-5.58%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	34.28%	-23.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	44.15%	-30.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.13%	52.24%	-33.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.13%	52.24%	-33.11%

DFAR vs. BITI - Expense Ratio Comparison

DFAR has a 0.19% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

DFAR vs. BITI - Dividend Comparison

DFAR's dividend yield for the trailing twelve months is around 2.60%, 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%
DFAR Dimensional US Real Estate ETF	2.60%	2.97%	2.89%	3.06%	1.69%

Frequently Asked Questions

Can I hold both DFAR and BITI in my portfolio?

DFAR and BITI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAR or BITI?

BITI has higher volatility (10.76%) compared to DFAR (5.18%). In terms of maximum drawdown, DFAR dropped -32.27% vs BITI's -92.16%.

Which ETF is better, DFAR or BITI?

On 3-year performance, DFAR leads with 10.37% vs -31.62% for BITI. On fees, DFAR is cheaper at 0.19% per year. On volatility, DFAR has been the lower-risk option at 5.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAR or BITI?

Over the 3-year period, DFAR has performed better with a 10.37% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAR or BITI?

DFAR is cheaper with a 0.19% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 2.60% for DFAR.

What is the main difference between DFAR and BITI?

DFAR is categorized as REIT, while BITI is Cryptocurrency. They also come from different issuers: Dimensional and ProShares. Their fees differ too: 0.19% for DFAR and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 1.32), 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.