DFEM vs. BITI

Last updated Jul 14, 2026

DFEM (Dimensional Emerging Markets Core Equity 2 ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DFEM is a Emerging Markets Diversified fund actively managed by Dimensional, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. DFEM is actively managed, while BITI is passively managed. Over the past 3 years, DFEM returned 18.80%/yr vs -30.65%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. DFEM charges 0.39%/yr vs 1.03%/yr for BITI.

Performance

DFEM vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets Core Equity 2 ETF (DFEM) 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, DFEM achieves a 17.64% return, which is significantly lower than BITI's 28.75% return.

DFEM

• 1D: -3.21%
• 1M: -4.25%
• 6M: 12.02%
• YTD: 17.64%
• 1Y: 32.42%
• 3Y*: 18.80%
• 5Y*: —
• 10Y*: —

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

DFEM vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFEM Dimensional Emerging Markets Core Equity 2 ETF	17.64%	29.51%	7.53%	13.91%	-2.85%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between DFEM and BITI is -0.45, 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	-0.45
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 DFEM and BITI shifts across timeframes, from -0.45 (1 year) to -0.31 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DFEM vs. BITI — Risk / Return Rank

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

DFEM

DFEM Risk / Return Rank: 60
DFEM Sharpe Ratio Rank: 56
DFEM Sortino Ratio Rank: 50
DFEM Omega Ratio Rank: 60
DFEM Calmar Ratio Rank: 67
DFEM Martin Ratio Rank: 65

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

DFEM vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Core Equity 2 ETF (DFEM) 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.

	DFEM	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.56	-0.06
Sortino ratio: Return per unit of downside risk	2.00	2.13	-0.13
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	2.69	2.72	-0.03
Martin ratio: Return relative to average drawdown	9.30	6.78	+2.52

DFEM vs. BITI - Sharpe Ratio Comparison

The current DFEM Sharpe Ratio is 1.50, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of DFEM 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

DFEM vs. BITI - Drawdown Comparison

The maximum DFEM drawdown since its inception was -20.82%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DFEM and BITI.

Drawdown Indicators

	DFEM	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-92.16%	+71.34%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-25.28%	+13.16%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	-84.63%	+66.54%
Current Drawdown Current decline from peak	-8.21%	-85.94%	+77.73%
Average Drawdown Average peak-to-trough decline	-5.02%	-68.34%	+63.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	10.11%	-6.62%

Volatility

DFEM vs. BITI - Volatility Comparison

The current volatility for Dimensional Emerging Markets Core Equity 2 ETF (DFEM) is 10.36%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that DFEM 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

	DFEM	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.36%	11.38%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	19.91%	34.25%	-14.34%
Volatility (1Y) Calculated over the trailing 1-year period	21.70%	44.14%	-22.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	52.28%	-34.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	52.28%	-34.24%

DFEM vs. BITI - Expense Ratio Comparison

DFEM has a 0.39% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

DFEM vs. BITI - Dividend Comparison

DFEM's dividend yield for the trailing twelve months is around 1.92%, 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%
DFEM Dimensional Emerging Markets Core Equity 2 ETF	1.92%	2.32%	2.50%	2.38%	1.99%

Frequently Asked Questions

Can I hold both DFEM and BITI in my portfolio?

DFEM and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFEM or BITI?

BITI has higher volatility (11.38%) compared to DFEM (10.36%). In terms of maximum drawdown, DFEM dropped -20.82% vs BITI's -92.16%.

Which ETF is better, DFEM or BITI?

On 3-year performance, DFEM leads with 18.80% vs -30.65% for BITI. On fees, DFEM is cheaper at 0.39% per year. On volatility, DFEM has been the lower-risk option at 10.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEM or BITI?

Over the 3-year period, DFEM has performed better with a 18.80% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEM or BITI?

DFEM is cheaper with a 0.39% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 1.92% for DFEM.

What is the main difference between DFEM and BITI?

DFEM is categorized as Emerging Markets Diversified, while BITI is Cryptocurrency. They also come from different issuers: Dimensional and ProShares. Their fees differ too: 0.39% for DFEM and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 1.50), 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.