EWY vs. BITI
EWY (iShares MSCI South Korea ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - EWY is a South Korea Equities fund tracking the MSCI Korea Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, EWY returned 39.02%/yr vs -30.65%/yr for BITI. At a correlation of -0.32, they often move in opposite directions. EWY charges 0.59%/yr vs 1.03%/yr for BITI.
Performance
EWY vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, EWY achieves a 72.82% return, which is significantly higher than BITI's 28.75% return.
EWY
- 1D
- -8.45%
- 1M
- -14.91%
- 6M
- 54.25%
- YTD
- 72.82%
- 1Y
- 136.76%
- 3Y*
- 39.02%
- 5Y*
- 15.37%
- 10Y*
- 14.08%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
EWY vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EWY iShares MSCI South Korea ETF | 72.82% | 95.33% | -20.48% | 19.05% | -4.25% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between EWY and BITI is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.32 |
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Return for Risk
EWY vs. BITI — Risk / Return Rank
EWY
BITI
EWY vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Korea ETF (EWY) 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.
| EWY | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.26 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 5.89 | 2.72 | +3.17 |
| Martin ratioReturn relative to average drawdown | 18.50 | 6.78 | +11.72 |
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Drawdowns
EWY vs. BITI - Drawdown Comparison
The maximum EWY drawdown since its inception was -74.14%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for EWY and BITI.
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Drawdown Indicators
| EWY | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -92.16% | +18.02% |
Max Drawdown (1Y)Largest decline over 1 year | -23.35% | -25.28% | +1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -84.63% | +57.27% |
Max Drawdown (5Y)Largest decline over 5 years | -47.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.73% | — | — |
Current DrawdownCurrent decline from peak | -23.35% | -85.94% | +62.59% |
Average DrawdownAverage peak-to-trough decline | -20.09% | -68.34% | +48.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.42% | 10.11% | -2.69% |
Volatility
EWY vs. BITI - Volatility Comparison
iShares MSCI South Korea ETF (EWY) has a higher volatility of 25.85% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that EWY'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.
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Volatility by Period
| EWY | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.85% | 11.38% | +14.47% |
Volatility (6M)Calculated over the trailing 6-month period | 47.91% | 34.25% | +13.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.11% | 44.14% | +6.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.74% | 52.28% | -20.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.80% | 52.28% | -23.48% |
EWY vs. BITI - Expense Ratio Comparison
EWY has a 0.59% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
EWY vs. BITI - Dividend Comparison
EWY's dividend yield for the trailing twelve months is around 1.21%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EWY iShares MSCI South Korea ETF | 1.21% | 2.10% | 2.55% | 2.52% | 1.23% | 2.16% | 0.73% | 2.10% | 1.34% | 2.90% | 1.21% | 2.42% |
Frequently Asked Questions
EWY and BITI have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWY has higher volatility (25.85%) compared to BITI (11.38%). In terms of maximum drawdown, EWY dropped -74.14% vs BITI's -92.16%.
On 3-year performance, EWY leads with 39.02% vs -30.65% for BITI. On fees, EWY is cheaper at 0.59% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EWY has performed better with a 39.02% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWY is cheaper with a 0.59% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 1.21% for EWY.
EWY is categorized as South Korea Equities, while BITI is Cryptocurrency. EWY tracks MSCI Korea Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.59% for EWY and 1.03% for BITI.
EWY currently has the higher Sharpe Ratio (2.70 vs 1.56), 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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