EMXC vs. BITI
EMXC (iShares MSCI Emerging Markets ex China ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, EMXC returned 23.89%/yr vs -32.35%/yr for BITI. Their -0.34 correlation means they have often moved in opposite directions in the past. EMXC charges 0.49%/yr vs 1.03%/yr for BITI.
Performance
EMXC vs. BITI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMXC achieves a 28.12% return, which is significantly higher than BITI's 25.22% return.
EMXC
- 1D
- 0.49%
- 1M
- -4.55%
- 6M
- 15.83%
- YTD
- 28.12%
- 1Y
- 51.73%
- 3Y*
- 23.89%
- 5Y*
- 10.90%
- 10Y*
- —
- ALL TIME*
- 9.40%
BITI
- 1D
- -1.48%
- 1M
- -4.03%
- 6M
- 13.09%
- YTD
- 25.22%
- 1Y
- 56.28%
- 3Y*
- -32.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.18M | $25.87M | $38.72M | |
| $255.60M | $267.52M | $279.80M |
EMXC vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 28.12% | 35.14% | 2.68% | 18.96% | -0.22% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between EMXC and BITI is -0.45, 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. | -0.45 |
Correlation (3Y) Balances recent behavior with more history. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.34 |
The correlation between EMXC and BITI shifts across timeframes, from -0.45 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMXC vs. BITI — Risk / Return Rank
EMXC
BITI
EMXC vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) 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.
| EMXC | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.22 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 2.24 | +0.58 |
| Martin ratioReturn relative to average drawdown | 9.91 | 5.45 | +4.46 |
Loading charts...
Drawdowns
EMXC vs. BITI - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for EMXC and BITI.
Loading charts...
Drawdown Indicators
| EMXC | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -92.16% | +49.35% |
Max Drawdown (1Y)Largest decline over 1 year | -18.43% | -25.28% | +6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | -84.63% | +65.51% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | — | — |
Current DrawdownCurrent decline from peak | -13.07% | -86.33% | +73.26% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -68.61% | +58.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.23% | 10.37% | -5.14% |
Volatility
EMXC vs. BITI - Volatility Comparison
iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 10.77% compared to ProShares Short Bitcoin ETF (BITI) at 8.93%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMXC | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.77% | 8.93% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 25.82% | 33.35% | -7.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.64% | 44.25% | -16.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.04% | 52.01% | -32.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.50% | 52.01% | -31.51% |
EMXC vs. BITI - Expense Ratio Comparison
EMXC has a 0.49% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
EMXC vs. BITI - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 2.08%, less than BITI's 21.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMXC iShares MSCI Emerging Markets ex China ETF | 2.08% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% |
Frequently Asked Questions
EMXC 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.
EMXC has higher volatility (10.77%) compared to BITI (8.93%). In terms of maximum drawdown, EMXC dropped -42.81% vs BITI's -92.16%.
On 3-year performance, EMXC leads with 23.89% vs -32.35% for BITI. On fees, EMXC is cheaper at 0.49% per year. On volatility, BITI has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMXC has performed better with a 23.89% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMXC is cheaper with a 0.49% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 21.80%, compared with 2.08% for EMXC.
EMXC is categorized as Emerging Markets Equities, while BITI is Cryptocurrency. EMXC tracks MSCI Emerging Markets ex China Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.49% for EMXC and 1.03% for BITI.
EMXC currently has the higher Sharpe Ratio (1.88 vs 1.28), 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.
Find the right allocation for EMXC and BITI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer