EURL vs. SBIT
EURL (Direxion Daily FTSE Europe Bull 3x Shares) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - EURL is a Leveraged Equities fund tracking the FTSE Developed Europe Index (300%), while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, EURL returned 59.89% vs 98.77% for SBIT. Their -0.33 correlation means they have often moved in opposite directions in the past. EURL charges 1.07%/yr vs 0.95%/yr for SBIT.
Performance
EURL vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, EURL achieves a 19.99% return, which is significantly lower than SBIT's 39.44% return.
EURL
- 1D
- -1.39%
- 1M
- 3.10%
- 6M
- 5.68%
- YTD
- 19.99%
- 1Y
- 59.89%
- 3Y*
- 31.34%
- 5Y*
- 7.64%
- 10Y*
- 11.21%
- ALL TIME*
- 2.97%
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) |
|---|---|---|---|
| $543.36K | $647.46K | $1.03M | |
| $29.57M | $32.71M | $46.48M |
EURL vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EURL Direxion Daily FTSE Europe Bull 3x Shares | 19.99% | 105.85% | -20.82% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between EURL and SBIT is -0.41, 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. | -0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.33 |
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Return for Risk
EURL vs. SBIT — Risk / Return Rank
EURL
SBIT
EURL vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.
| EURL | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.35 | -0.61 |
| Martin ratioReturn relative to average drawdown | 5.37 | 5.19 | +0.18 |
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Drawdowns
EURL vs. SBIT - Drawdown Comparison
The maximum EURL drawdown since its inception was -84.65%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for EURL and SBIT.
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Drawdown Indicators
| EURL | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.65% | -91.35% | +6.70% |
Max Drawdown (1Y)Largest decline over 1 year | -33.05% | -47.94% | +14.89% |
Max Drawdown (3Y)Largest decline over 3 years | -38.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -75.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -84.65% | — | — |
Current DrawdownCurrent decline from peak | -3.74% | -77.87% | +74.13% |
Average DrawdownAverage peak-to-trough decline | -36.62% | -69.07% | +32.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.71% | 21.67% | -10.96% |
Volatility
EURL vs. SBIT - Volatility Comparison
The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 13.53%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that EURL 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
| EURL | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.53% | 18.09% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 41.54% | 67.10% | -25.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.83% | 88.65% | -40.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.54% | 96.10% | -42.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.48% | 96.10% | -41.62% |
EURL vs. SBIT - Expense Ratio Comparison
EURL has a 1.07% expense ratio, which is higher than SBIT's 0.95% expense ratio.
Dividends
EURL vs. SBIT - Dividend Comparison
EURL's dividend yield for the trailing twelve months is around 1.50%, less than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EURL Direxion Daily FTSE Europe Bull 3x Shares | 1.50% | 1.50% | 3.51% | 2.50% | 1.80% | 0.33% | 0.41% | 1.17% | 3.07% | 0.38% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EURL and SBIT have a correlation of -0.41, 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 EURL (13.53%). In terms of maximum drawdown, EURL dropped -84.65% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 59.89% for EURL. On fees, SBIT is cheaper at 0.95% per year. On volatility, EURL has been the lower-risk option at 13.53%. 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 59.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBIT is cheaper with a 0.95% expense ratio, compared with 1.07% for EURL.
SBIT has the higher dividend yield at 4.03%, compared with 1.50% for EURL.
EURL is categorized as Leveraged Equities, while SBIT is Cryptocurrency. EURL tracks FTSE Developed Europe Index (300%), while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for EURL and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs 1.21), 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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