EZBC vs. BITI

Last updated Jun 3, 2026

EZBC (Franklin Bitcoin ETF) and BITI (ProShares Shrt Bitcoin ETF) are both Cryptocurrency funds - EZBC tracks the CME CF Bitcoin Reference Rate - New York Variant while BITI tracks the Bloomberg Bitcoin Index (-100%). Both are passively managed. Over the past year, EZBC returned -35.86% vs 39.52% for BITI. At a correlation of -1.00, they often move in opposite directions. EZBC charges 0.19%/yr vs 1.03%/yr for BITI.

Performance

EZBC vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and ProShares Shrt Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZBC achieves a -23.26% return, which is significantly lower than BITI's 20.81% return.

EZBC

• 1D: -5.96%
• 1M: -14.30%
• YTD: -23.26%
• 6M: -26.35%
• 1Y: -35.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 5.99%
• 1M: 16.30%
• YTD: 20.81%
• 6M: 25.36%
• 1Y: 39.52%
• 3Y*: -34.67%
• 5Y*: —
• 10Y*: —

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

EZBC vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-23.26%	-6.56%	100.18%
BITI ProShares Shrt Bitcoin ETF	20.81%	-1.76%	-58.70%

Correlation

The correlation between EZBC and BITI is -1.00, 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	-1.00
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	-1.00

The correlation between EZBC and BITI has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.

Return for Risk

EZBC vs. BITI — Risk / Return Rank

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

EZBC

EZBC Risk / Return Rank: 2
EZBC Sharpe Ratio Rank: 2
EZBC Sortino Ratio Rank: 2
EZBC Omega Ratio Rank: 2
EZBC Calmar Ratio Rank: 2
EZBC Martin Ratio Rank: 2

BITI

BITI Risk / Return Rank: 27
BITI Sharpe Ratio Rank: 25
BITI Sortino Ratio Rank: 27
BITI Omega Ratio Rank: 26
BITI Calmar Ratio Rank: 31
BITI Martin Ratio Rank: 25

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.

EZBC vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and ProShares Shrt 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.

	EZBC	BITI	Difference
Sharpe ratio Return per unit of total volatility	-0.83	0.91	-1.74
Sortino ratio Return per unit of downside risk	-1.09	1.47	-2.56
Omega ratio Gain probability vs. loss probability	0.88	1.17	-0.30
Calmar ratio Return relative to maximum drawdown	-0.73	1.57	-2.30
Martin ratio Return relative to average drawdown	-1.27	3.37	-4.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZBC vs. BITI - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -0.83, which is lower than the BITI Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of EZBC 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.

Sharpe Ratios by Period

	EZBC	BITI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.83	0.91	-1.74
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	-0.73	+1.06

Drawdowns

EZBC vs. BITI - Drawdown Comparison

The maximum EZBC drawdown since its inception was -49.37%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for EZBC and BITI.

Drawdown Indicators

	EZBC	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-49.37%	-92.16%	+42.79%
Max Drawdown (1Y) Largest decline over 1 year	-49.37%	-25.28%	-24.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-46.58%	-86.81%	+40.23%
Average Drawdown Average peak-to-trough decline	-15.96%	-67.93%	+51.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.26%	11.79%	+16.47%

Volatility

EZBC vs. BITI - Volatility Comparison

Franklin Bitcoin ETF (EZBC) and ProShares Shrt Bitcoin ETF (BITI) have volatilities of 9.72% and 9.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.72%	9.60%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	34.80%	34.38%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	43.59%	43.45%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.07%	52.51%	-2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.07%	52.51%	-2.44%

EZBC vs. BITI - Expense Ratio Comparison

EZBC has a 0.19% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

EZBC vs. BITI - Dividend Comparison

EZBC has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 9.77%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Shrt Bitcoin ETF	9.77%	1.60%	3.91%	3.33%	0.06%
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZBC and BITI in my portfolio?

EZBC and BITI have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZBC or BITI?

EZBC has higher volatility (9.72%) compared to BITI (9.60%). In terms of maximum drawdown, EZBC dropped -49.37% vs BITI's -92.16%.

Which ETF is better, EZBC or BITI?

On 1-year performance, BITI leads with 39.52% vs -35.86% for EZBC. On fees, EZBC is cheaper at 0.19% per year. On volatility, BITI has been the lower-risk option at 9.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZBC or BITI?

Over the 1-year period, BITI has performed better with a 39.52% return vs -35.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZBC or BITI?

EZBC is cheaper with a 0.19% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 9.77%, compared with 0.00% for EZBC.

What is the main difference between EZBC and BITI?

EZBC tracks CME CF Bitcoin Reference Rate - New York Variant, while BITI tracks Bloomberg Bitcoin Index (-100%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for EZBC and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (0.91 vs -0.83), 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.