FAI vs. BITI

Last updated Jul 17, 2026

FAI (First Trust Bloomberg Artificial Intelligence ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FAI is a Technology Equities fund tracking the Bloomberg Artificial Intelligence Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, FAI returned 40.32% vs 64.61% for BITI. At a correlation of -0.46, they often move in opposite directions. FAI charges 0.65%/yr vs 1.03%/yr for BITI.

Performance

FAI vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg Artificial Intelligence ETF (FAI) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAI achieves a 22.25% return, which is significantly lower than BITI's 24.48% return.

FAI

• 1D: -3.29%
• 1M: -6.04%
• 6M: 20.67%
• YTD: 22.25%
• 1Y: 40.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

FAI vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FAI First Trust Bloomberg Artificial Intelligence ETF	22.25%	33.37%	2.28%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-0.12%

Correlation

The correlation between FAI and BITI is -0.48, 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	-0.48
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	-0.46

Return for Risk

FAI vs. BITI — Risk / Return Rank

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

FAI

FAI Risk / Return Rank: 48
FAI Sharpe Ratio Rank: 51
FAI Sortino Ratio Rank: 45
FAI Omega Ratio Rank: 46
FAI Calmar Ratio Rank: 53
FAI Martin Ratio Rank: 47

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

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.

FAI vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Artificial Intelligence ETF (FAI) 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.

	FAI	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.47	-0.05
Sortino ratio: Return per unit of downside risk	1.90	2.04	-0.14
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	2.15	2.57	-0.42
Martin ratio: Return relative to average drawdown	6.19	6.38	-0.19

FAI vs. BITI - Sharpe Ratio Comparison

The current FAI Sharpe Ratio is 1.42, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of FAI 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.

Drawdowns

FAI vs. BITI - Drawdown Comparison

The maximum FAI drawdown since its inception was -27.82%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FAI and BITI.

Drawdown Indicators

	FAI	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-27.82%	-92.16%	+64.34%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	-25.28%	+6.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-13.16%	-86.41%	+73.25%
Average Drawdown Average peak-to-trough decline	-5.53%	-68.40%	+62.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.53%	10.16%	-3.63%

Volatility

FAI vs. BITI - Volatility Comparison

First Trust Bloomberg Artificial Intelligence ETF (FAI) and ProShares Short Bitcoin ETF (BITI) have volatilities of 10.93% and 10.76%, 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

	FAI	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.93%	10.76%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	24.06%	34.28%	-10.22%
Volatility (1Y) Calculated over the trailing 1-year period	28.44%	44.15%	-15.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.23%	52.24%	-21.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.23%	52.24%	-21.01%

FAI vs. BITI - Expense Ratio Comparison

FAI has a 0.65% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

FAI vs. BITI - Dividend Comparison

FAI has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.62%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
FAI First Trust Bloomberg Artificial Intelligence ETF	0.00%	0.00%	0.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FAI and BITI in my portfolio?

FAI and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAI or BITI?

FAI has higher volatility (10.93%) compared to BITI (10.76%). In terms of maximum drawdown, FAI dropped -27.82% vs BITI's -92.16%.

Which ETF is better, FAI or BITI?

On 1-year performance, BITI leads with 64.61% vs 40.32% for FAI. On fees, FAI is cheaper at 0.65% per year. On volatility, BITI has been the lower-risk option at 10.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAI or BITI?

Over the 1-year period, BITI has performed better with a 64.61% return vs 40.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAI or BITI?

FAI is cheaper with a 0.65% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 0.00% for FAI.

What is the main difference between FAI and BITI?

FAI is categorized as Technology Equities, while BITI is Cryptocurrency. FAI tracks Bloomberg Artificial Intelligence Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.65% for FAI and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 1.42), 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.