EZPZ vs. SBIT

Last updated Jun 4, 2026

EZPZ (Franklin Crypto Index ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both Cryptocurrency funds - EZPZ tracks the CF Institutional Digital Asset Index – US-Settlement Price while SBIT tracks the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, EZPZ returned -39.21% vs 68.00% for SBIT. At a correlation of -0.99, they often move in opposite directions. EZPZ charges 0.19%/yr vs 0.95%/yr for SBIT.

Performance

EZPZ vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Crypto Index ETF (EZPZ) 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, EZPZ achieves a -28.21% return, which is significantly lower than SBIT's 37.02% return.

EZPZ

• 1D: -3.03%
• 1M: -18.55%
• YTD: -28.21%
• 6M: -33.71%
• 1Y: -39.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.42%
• 1M: 46.58%
• YTD: 37.02%
• 6M: 52.37%
• 1Y: 68.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZPZ vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
EZPZ Franklin Crypto Index ETF	-28.21%	-10.23%
SBIT Proshares Ultrashort Bitcoin ETF	37.02%	-11.84%

Correlation

The correlation between EZPZ and SBIT is -0.99, 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	-0.99
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	-0.99

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

Return for Risk

EZPZ vs. SBIT — Risk / Return Rank

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

EZPZ

EZPZ Risk / Return Rank: 3
EZPZ Sharpe Ratio Rank: 2
EZPZ Sortino Ratio Rank: 3
EZPZ Omega Ratio Rank: 3
EZPZ Calmar Ratio Rank: 3
EZPZ Martin Ratio Rank: 3

SBIT

SBIT Risk / Return Rank: 26
SBIT Sharpe Ratio Rank: 22
SBIT Sortino Ratio Rank: 28
SBIT Omega Ratio Rank: 27
SBIT Calmar Ratio Rank: 29
SBIT Martin Ratio Rank: 22

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.

EZPZ vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Crypto Index ETF (EZPZ) 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.

	EZPZ	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	0.78	-1.63
Sortino ratio: Return per unit of downside risk	-1.13	1.54	-2.67
Omega ratio: Gain probability vs. loss probability	0.87	1.18	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.75	1.43	-2.18
Martin ratio: Return relative to average drawdown	-1.29	2.76	-4.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZPZ vs. SBIT - Sharpe Ratio Comparison

The current EZPZ Sharpe Ratio is -0.84, which is lower than the SBIT Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of EZPZ 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.

Sharpe Ratios by Period

	EZPZ	SBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	0.78	-1.63
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	-0.46	-0.15

Drawdowns

EZPZ vs. SBIT - Drawdown Comparison

The maximum EZPZ drawdown since its inception was -52.38%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for EZPZ and SBIT.

Drawdown Indicators

	EZPZ	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-52.38%	-91.35%	+38.97%
Max Drawdown (1Y) Largest decline over 1 year	-52.38%	-47.94%	-4.44%
Current Drawdown Current decline from peak	-51.59%	-78.26%	+26.67%
Average Drawdown Average peak-to-trough decline	-21.72%	-68.55%	+46.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.44%	24.69%	+5.75%

Volatility

EZPZ vs. SBIT - Volatility Comparison

The current volatility for Franklin Crypto Index ETF (EZPZ) is 9.74%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.22%. This indicates that EZPZ 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

	EZPZ	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	18.22%	-8.48%
Volatility (6M) Calculated over the trailing 6-month period	36.71%	68.46%	-31.75%
Volatility (1Y) Calculated over the trailing 1-year period	46.83%	87.18%	-40.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.65%	97.47%	-49.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.65%	97.47%	-49.82%

EZPZ vs. SBIT - Expense Ratio Comparison

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

Dividends

EZPZ vs. SBIT - Dividend Comparison

EZPZ has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 3.42%.

Position	TTM	2025	2024
EZPZ Franklin Crypto Index ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.42%	0.52%	1.00%

Frequently Asked Questions

Can I hold both EZPZ and SBIT in my portfolio?

EZPZ and SBIT have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZPZ or SBIT?

SBIT has higher volatility (18.22%) compared to EZPZ (9.74%). In terms of maximum drawdown, EZPZ dropped -52.38% vs SBIT's -91.35%.

Which ETF is better, EZPZ or SBIT?

On 1-year performance, SBIT leads with 68.00% vs -39.21% for EZPZ. On fees, EZPZ is cheaper at 0.19% per year. On volatility, EZPZ has been the lower-risk option at 9.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZPZ or SBIT?

Over the 1-year period, SBIT has performed better with a 68.00% return vs -39.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZPZ or SBIT?

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

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

SBIT has the higher dividend yield at 3.42%, compared with 0.00% for EZPZ.

What is the main difference between EZPZ and SBIT?

EZPZ tracks CF Institutional Digital Asset Index – US-Settlement Price, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for EZPZ and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (0.78 vs -0.84), 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.