EMDM vs. SBIT
EMDM (First Trust Bloomberg Emerging Market Democracies ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - EMDM is a Emerging Markets Equities fund tracking the Bloomberg Emerging Market Democracies Index - Benchmark TR Net, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, EMDM returned 66.00% vs 98.77% for SBIT. Their -0.34 correlation means they have often moved in opposite directions in the past. EMDM charges 0.75%/yr vs 0.95%/yr for SBIT.
Performance
EMDM vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, EMDM achieves a 27.86% return, which is significantly lower than SBIT's 39.44% return.
EMDM
- 1D
- 0.46%
- 1M
- -3.52%
- 6M
- 13.18%
- YTD
- 27.86%
- 1Y
- 66.00%
- 3Y*
- 26.67%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.46%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $660.85K | $757.43K | $571.79K | |
| $29.57M | $32.71M | $46.48M |
EMDM vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 27.86% | 59.68% | -5.47% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between EMDM and SBIT is -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.34 |
The correlation between EMDM and SBIT shifts across timeframes, from -0.44 (1 year) to -0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMDM vs. SBIT — Risk / Return Rank
EMDM
SBIT
EMDM vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Emerging Market Democracies ETF (EMDM) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.
| EMDM | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.23 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | 2.35 | +1.88 |
| Martin ratioReturn relative to average drawdown | 13.54 | 5.19 | +8.35 |
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Drawdowns
EMDM vs. SBIT - Drawdown Comparison
The maximum EMDM drawdown since its inception was -18.81%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for EMDM and SBIT.
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Drawdown Indicators
| EMDM | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -91.35% | +72.54% |
Max Drawdown (1Y)Largest decline over 1 year | -15.65% | -47.94% | +32.29% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | — | — |
Current DrawdownCurrent decline from peak | -10.88% | -77.87% | +66.99% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -69.07% | +64.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.88% | 21.67% | -16.79% |
Volatility
EMDM vs. SBIT - Volatility Comparison
The current volatility for First Trust Bloomberg Emerging Market Democracies ETF (EMDM) is 9.95%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that EMDM experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDM | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 18.09% | -8.14% |
Volatility (6M)Calculated over the trailing 6-month period | 25.55% | 67.10% | -41.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.87% | 88.65% | -60.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.16% | 96.10% | -74.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.16% | 96.10% | -74.94% |
EMDM vs. SBIT - Expense Ratio Comparison
EMDM has a 0.75% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
EMDM vs. SBIT - Dividend Comparison
EMDM's dividend yield for the trailing twelve months is around 2.96%, less than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EMDM First Trust Bloomberg Emerging Market Democracies ETF | 2.96% | 3.57% | 5.87% | 2.16% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% |
Frequently Asked Questions
EMDM and SBIT have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to EMDM (9.95%). In terms of maximum drawdown, EMDM dropped -18.81% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 66.00% for EMDM. On fees, EMDM is cheaper at 0.75% per year. On volatility, EMDM has been the lower-risk option at 9.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs 66.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMDM is cheaper with a 0.75% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 2.96% for EMDM.
EMDM is categorized as Emerging Markets Equities, while SBIT is Cryptocurrency. EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.75% for EMDM and 0.95% for SBIT.
EMDM currently has the higher Sharpe Ratio (2.38 vs 1.27), 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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