EQLT vs. BITI

Last updated Jul 17, 2026

EQLT (iShares MSCI Emerging Markets Quality Factor ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - EQLT is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Quality Factor Select Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, EQLT returned 43.68% vs 64.61% for BITI. At a correlation of -0.37, they often move in opposite directions. EQLT charges 0.35%/yr vs 1.03%/yr for BITI.

Performance

EQLT vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Quality Factor ETF (EQLT) 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, EQLT achieves a 22.92% return, which is significantly lower than BITI's 24.48% return.

EQLT

• 1D: -1.55%
• 1M: -7.15%
• 6M: 16.66%
• YTD: 22.92%
• 1Y: 43.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

EQLT vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EQLT iShares MSCI Emerging Markets Quality Factor ETF	22.92%	33.93%	-1.29%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-43.25%

Correlation

The correlation between EQLT and BITI is -0.46, 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	-0.46
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	-0.37

Return for Risk

EQLT vs. BITI — Risk / Return Rank

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

EQLT

EQLT Risk / Return Rank: 76
EQLT Sharpe Ratio Rank: 74
EQLT Sortino Ratio Rank: 68
EQLT Omega Ratio Rank: 73
EQLT Calmar Ratio Rank: 84
EQLT Martin Ratio Rank: 82

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

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.

EQLT vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Quality Factor ETF (EQLT) 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.

	EQLT	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.47	+0.43
Sortino ratio: Return per unit of downside risk	2.49	2.04	+0.45
Omega ratio: Gain probability vs. loss probability	1.34	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	3.66	2.57	+1.09
Martin ratio: Return relative to average drawdown	12.48	6.38	+6.10

EQLT vs. BITI - Sharpe Ratio Comparison

The current EQLT Sharpe Ratio is 1.90, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of EQLT 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

EQLT vs. BITI - Drawdown Comparison

The maximum EQLT drawdown since its inception was -17.38%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for EQLT and BITI.

Drawdown Indicators

	EQLT	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-17.38%	-92.16%	+74.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-25.28%	+13.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-8.32%	-86.41%	+78.09%
Average Drawdown Average peak-to-trough decline	-3.69%	-68.40%	+64.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	10.16%	-6.65%

Volatility

EQLT vs. BITI - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Quality Factor ETF (EQLT) is 6.94%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that EQLT 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

	EQLT	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.94%	10.76%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	21.04%	34.28%	-13.24%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	44.15%	-21.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	52.24%	-30.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	52.24%	-30.95%

EQLT vs. BITI - Expense Ratio Comparison

EQLT has a 0.35% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

EQLT vs. BITI - Dividend Comparison

EQLT's dividend yield for the trailing twelve months is around 2.85%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.85%	3.10%	0.51%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQLT and BITI in my portfolio?

EQLT and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQLT or BITI?

BITI has higher volatility (10.76%) compared to EQLT (6.94%). In terms of maximum drawdown, EQLT dropped -17.38% vs BITI's -92.16%.

Which ETF is better, EQLT or BITI?

On 1-year performance, BITI leads with 64.61% vs 43.68% for EQLT. On fees, EQLT is cheaper at 0.35% per year. On volatility, EQLT has been the lower-risk option at 6.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQLT or BITI?

Over the 1-year period, BITI has performed better with a 64.61% return vs 43.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQLT or BITI?

EQLT is cheaper with a 0.35% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 2.85% for EQLT.

What is the main difference between EQLT and BITI?

EQLT is categorized as Emerging Markets Equities, while BITI is Cryptocurrency. EQLT tracks MSCI Emerging Markets Quality Factor Select Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.35% for EQLT and 1.03% for BITI.

Which has better risk-adjusted returns?

EQLT currently has the higher Sharpe Ratio (1.90 vs 1.47), 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.