DWAW vs. BITI
DWAW (AdvisorShares Dorsey Wright FSM All Cap World ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DWAW is a Large Cap Growth Equities fund actively managed by AdvisorShares, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. DWAW is actively managed, while BITI is passively managed. Over the past 3 years, DWAW returned 16.73%/yr vs -30.65%/yr for BITI. At a correlation of -0.36, they often move in opposite directions. DWAW charges 1.24%/yr vs 1.03%/yr for BITI.
Performance
DWAW vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, DWAW achieves a 13.27% return, which is significantly lower than BITI's 28.75% return.
DWAW
- 1D
- -1.34%
- 1M
- -1.48%
- 6M
- 10.28%
- YTD
- 13.27%
- 1Y
- 22.58%
- 3Y*
- 16.73%
- 5Y*
- 7.63%
- 10Y*
- —
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
DWAW vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF | 13.27% | 10.85% | 18.48% | 11.18% | 6.73% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between DWAW and BITI is -0.47, 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 | -0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.36 |
The correlation between DWAW and BITI shifts across timeframes, from -0.47 (1 year) to -0.35 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DWAW vs. BITI — Risk / Return Rank
DWAW
BITI
DWAW vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) 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.
| DWAW | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.72 | -0.76 |
| Martin ratioReturn relative to average drawdown | 7.63 | 6.78 | +0.85 |
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Drawdowns
DWAW vs. BITI - Drawdown Comparison
The maximum DWAW drawdown since its inception was -31.55%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DWAW and BITI.
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Drawdown Indicators
| DWAW | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.55% | -92.16% | +60.61% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -25.28% | +13.70% |
Max Drawdown (3Y)Largest decline over 3 years | -22.91% | -84.63% | +61.72% |
Max Drawdown (5Y)Largest decline over 5 years | -28.43% | — | — |
Current DrawdownCurrent decline from peak | -3.64% | -85.94% | +82.30% |
Average DrawdownAverage peak-to-trough decline | -10.84% | -68.34% | +57.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 10.11% | -7.14% |
Volatility
DWAW vs. BITI - Volatility Comparison
The current volatility for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) is 6.26%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that DWAW 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
| DWAW | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 11.38% | -5.12% |
Volatility (6M)Calculated over the trailing 6-month period | 14.59% | 34.25% | -19.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.99% | 44.14% | -27.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.29% | 52.28% | -32.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.51% | 52.28% | -27.77% |
DWAW vs. BITI - Expense Ratio Comparison
DWAW has a 1.24% expense ratio, which is higher than BITI's 1.03% expense ratio.
Dividends
DWAW vs. BITI - Dividend Comparison
DWAW's dividend yield for the trailing twelve months is around 0.67%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% |
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF | 0.67% | 0.76% | 0.00% | 1.70% | 0.53% | 1.45% | 0.16% |
Frequently Asked Questions
DWAW and BITI have a correlation of -0.47, 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 DWAW (6.26%). In terms of maximum drawdown, DWAW dropped -31.55% vs BITI's -92.16%.
On 3-year performance, DWAW leads with 16.73% vs -30.65% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, DWAW has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DWAW has performed better with a 16.73% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITI is cheaper with a 1.03% expense ratio, compared with 1.24% for DWAW.
BITI has the higher dividend yield at 15.10%, compared with 0.67% for DWAW.
DWAW is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. They also come from different issuers: AdvisorShares and ProShares. Their fees differ too: 1.24% for DWAW and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.56 vs 1.34), 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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