EZBC vs. SBIT

Last updated Jul 18, 2026

EZBC (Franklin Bitcoin ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both Cryptocurrency funds - EZBC tracks the CME CF Bitcoin Reference Rate - New York Variant while SBIT tracks the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, EZBC returned -46.27% vs 113.57% for SBIT. At a correlation of -0.99, they often move in opposite directions. EZBC charges 0.19%/yr vs 0.95%/yr for SBIT.

Performance

EZBC vs. SBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, EZBC achieves a -26.74% return, which is significantly lower than SBIT's 34.85% return.

EZBC

• 1D: -0.16%
• 1M: -0.11%
• 6M: -32.92%
• YTD: -26.74%
• 1Y: -46.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 0.23%
• 1M: -2.47%
• 6M: 63.43%
• YTD: 34.85%
• 1Y: 113.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZBC vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-26.74%	-6.56%	33.77%
SBIT Proshares Ultrashort Bitcoin ETF	34.85%	-25.11%	-73.74%

Correlation

The correlation between EZBC and SBIT 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 Apr 2, 2024	-0.99

The correlation between EZBC and SBIT has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

Return for Risk

EZBC vs. SBIT — 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: 1
EZBC Sortino Ratio Rank: 2
EZBC Omega Ratio Rank: 2
EZBC Calmar Ratio Rank: 2
EZBC Martin Ratio Rank: 2

SBIT

SBIT Risk / Return Rank: 48
SBIT Sharpe Ratio Rank: 46
SBIT Sortino Ratio Rank: 49
SBIT Omega Ratio Rank: 45
SBIT Calmar Ratio Rank: 60
SBIT Martin Ratio Rank: 42

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. SBIT - Risk-Adjusted Trends Comparison

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

	EZBC	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	1.29	-2.34
Sortino ratio: Return per unit of downside risk	-1.59	1.96	-3.55
Omega ratio: Gain probability vs. loss probability	0.82	1.24	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.87	2.38	-3.25
Martin ratio: Return relative to average drawdown	-1.39	5.38	-6.77

EZBC vs. SBIT - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -1.05, which is lower than the SBIT Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of EZBC and SBIT, 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

EZBC vs. SBIT - Drawdown Comparison

The maximum EZBC drawdown since its inception was -53.35%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for EZBC and SBIT.

Drawdown Indicators

	EZBC	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-91.35%	+38.00%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	-47.94%	-5.41%
Current Drawdown Current decline from peak	-49.00%	-78.60%	+29.60%
Average Drawdown Average peak-to-trough decline	-17.80%	-68.90%	+51.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.27%	21.21%	+12.06%

Volatility

EZBC vs. SBIT - Volatility Comparison

The current volatility for Franklin Bitcoin ETF (EZBC) is 10.68%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 21.38%. This indicates that EZBC 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.

Volatility by Period

	EZBC	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	21.38%	-10.70%
Volatility (6M) Calculated over the trailing 6-month period	34.60%	68.54%	-33.94%
Volatility (1Y) Calculated over the trailing 1-year period	44.22%	88.33%	-44.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.80%	96.69%	-46.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.80%	96.69%	-46.89%

EZBC vs. SBIT - Expense Ratio Comparison

EZBC has a 0.19% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

EZBC vs. SBIT - Dividend Comparison

EZBC has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.24%.

Position	TTM	2025	2024
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	4.24%	0.52%	1.00%

Frequently Asked Questions

Can I hold both EZBC and SBIT in my portfolio?

EZBC and SBIT 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 SBIT?

SBIT has higher volatility (21.38%) compared to EZBC (10.68%). In terms of maximum drawdown, EZBC dropped -53.35% vs SBIT's -91.35%.

Which ETF is better, EZBC or SBIT?

On 1-year performance, SBIT leads with 113.57% vs -46.27% for EZBC. On fees, EZBC is cheaper at 0.19% per year. On volatility, EZBC has been the lower-risk option at 10.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZBC or SBIT?

Over the 1-year period, SBIT has performed better with a 113.57% return vs -46.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZBC or SBIT?

EZBC is cheaper with a 0.19% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.24%, compared with 0.00% for EZBC.

What is the main difference between EZBC and SBIT?

EZBC tracks CME CF Bitcoin Reference Rate - New York Variant, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for EZBC and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.29 vs -1.05), 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.