DXJ vs. BITI
DXJ (WisdomTree Japan Hedged Equity Fund) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, DXJ returned 33.21%/yr vs -31.54%/yr for BITI. At a correlation of -0.19, they often move in opposite directions. DXJ charges 0.48%/yr vs 1.03%/yr for BITI.
Performance
DXJ vs. BITI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DXJ having a 23.58% return and BITI slightly higher at 23.84%.
DXJ
- 1D
- 1.10%
- 1M
- 4.08%
- 6M
- 16.14%
- YTD
- 23.58%
- 1Y
- 55.75%
- 3Y*
- 33.21%
- 5Y*
- 27.53%
- 10Y*
- 18.75%
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
DXJ vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 23.58% | 32.78% | 29.83% | 42.04% | 5.59% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between DXJ and BITI is -0.31, 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 | -0.31 |
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 DXJ and BITI shifts across timeframes, from -0.31 (1 year) to -0.16 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DXJ vs. BITI — Risk / Return Rank
DXJ
BITI
DXJ vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) 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.
| DXJ | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.24 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 5.10 | 2.56 | +2.55 |
| Martin ratioReturn relative to average drawdown | 19.41 | 6.37 | +13.05 |
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Drawdowns
DXJ vs. BITI - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for DXJ and BITI.
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Drawdown Indicators
| DXJ | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -92.16% | +42.53% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -25.28% | +14.30% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -84.63% | +62.44% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | — | — |
Current DrawdownCurrent decline from peak | -1.55% | -86.48% | +84.93% |
Average DrawdownAverage peak-to-trough decline | -14.27% | -68.36% | +54.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 10.13% | -7.25% |
Volatility
DXJ vs. BITI - Volatility Comparison
The current volatility for WisdomTree Japan Hedged Equity Fund (DXJ) is 6.39%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that DXJ 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
| DXJ | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.39% | 11.73% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 14.29% | 34.49% | -20.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.29% | 44.24% | -25.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.06% | 52.29% | -33.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.93% | 52.29% | -32.36% |
DXJ vs. BITI - Expense Ratio Comparison
DXJ has a 0.48% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
DXJ vs. BITI - Dividend Comparison
DXJ's dividend yield for the trailing twelve months is around 0.95%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DXJ WisdomTree Japan Hedged Equity Fund | 0.95% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
Frequently Asked Questions
DXJ and BITI have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.73%) compared to DXJ (6.39%). In terms of maximum drawdown, DXJ dropped -49.63% vs BITI's -92.16%.
On 3-year performance, DXJ leads with 33.21% vs -31.54% for BITI. On fees, DXJ is cheaper at 0.48% per year. On volatility, DXJ has been the lower-risk option at 6.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DXJ has performed better with a 33.21% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DXJ is cheaper with a 0.48% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 0.95% for DXJ.
DXJ is categorized as Japan Equities, while BITI is Cryptocurrency. DXJ tracks WisdomTree Japan Hedged Equity Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.48% for DXJ and 1.03% for BITI.
DXJ currently has the higher Sharpe Ratio (3.06 vs 1.46), 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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