EWG vs. SBIT
EWG (iShares MSCI Germany ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - EWG is a Europe Equities fund tracking the MSCI Germany Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, EWG returned 7.26% vs 98.77% for SBIT. Their -0.35 correlation means they have often moved in opposite directions in the past. EWG charges 0.49%/yr vs 0.95%/yr for SBIT.
Performance
EWG vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, EWG achieves a 2.84% return, which is significantly lower than SBIT's 39.44% return.
EWG
- 1D
- -0.07%
- 1M
- 1.28%
- 6M
- 1.39%
- YTD
- 2.84%
- 1Y
- 7.26%
- 3Y*
- 16.35%
- 5Y*
- 7.08%
- 10Y*
- 7.90%
- ALL TIME*
- 6.32%
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) |
|---|---|---|---|
| $53.81M | $49.56M | $49.69M | |
| $29.57M | $32.71M | $46.48M |
EWG vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EWG iShares MSCI Germany ETF | 2.84% | 35.79% | 2.73% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between EWG and SBIT 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 (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.35 |
The correlation between EWG and SBIT shifts across timeframes, from -0.45 (1 year) to -0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWG vs. SBIT — Risk / Return Rank
EWG
SBIT
EWG vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Germany ETF (EWG) 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.
| EWG | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.23 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 2.35 | -1.92 |
| Martin ratioReturn relative to average drawdown | 1.28 | 5.19 | -3.90 |
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Drawdowns
EWG vs. SBIT - Drawdown Comparison
The maximum EWG drawdown since its inception was -67.57%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for EWG and SBIT.
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Drawdown Indicators
| EWG | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.57% | -91.35% | +23.78% |
Max Drawdown (1Y)Largest decline over 1 year | -14.54% | -47.94% | +33.40% |
Max Drawdown (3Y)Largest decline over 3 years | -15.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.80% | — | — |
Current DrawdownCurrent decline from peak | -1.91% | -77.87% | +75.96% |
Average DrawdownAverage peak-to-trough decline | -19.12% | -69.07% | +49.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 21.67% | -16.81% |
Volatility
EWG vs. SBIT - Volatility Comparison
The current volatility for iShares MSCI Germany ETF (EWG) is 5.38%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that EWG 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
| EWG | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 18.09% | -12.71% |
Volatility (6M)Calculated over the trailing 6-month period | 15.32% | 67.10% | -51.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 88.65% | -70.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.57% | 96.10% | -75.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.81% | 96.10% | -75.29% |
EWG vs. SBIT - Expense Ratio Comparison
EWG has a 0.49% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
EWG vs. SBIT - Dividend Comparison
EWG's dividend yield for the trailing twelve months is around 1.94%, less than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWG iShares MSCI Germany ETF | 1.94% | 1.60% | 2.38% | 2.56% | 3.24% | 2.70% | 1.67% | 2.51% | 2.93% | 2.06% | 2.35% | 1.93% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
EWG and SBIT 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.
SBIT has higher volatility (18.09%) compared to EWG (5.38%). In terms of maximum drawdown, EWG dropped -67.57% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 7.26% for EWG. On fees, EWG is cheaper at 0.49% per year. On volatility, EWG has been the lower-risk option at 5.38%. 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 7.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWG is cheaper with a 0.49% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 1.94% for EWG.
EWG is categorized as Europe Equities, while SBIT is Cryptocurrency. EWG tracks MSCI Germany Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.49% for EWG and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs 0.35), 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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