FAI vs. SBIT

Last updated Aug 1, 2026

FAI (First Trust Bloomberg Artificial Intelligence ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - FAI is a Artificial Intelligence fund tracking the Bloomberg Artificial Intelligence Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, FAI returned 40.34% vs 98.77% for SBIT. Their -0.46 correlation means they have often moved in opposite directions in the past. FAI charges 0.65%/yr vs 0.95%/yr for SBIT.

Performance

FAI vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg Artificial Intelligence ETF (FAI) 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, FAI achieves a 23.08% return, which is significantly lower than SBIT's 39.44% return.

FAI

• 1D: 2.93%
• 1M: -1.97%
• 6M: 21.54%
• YTD: 23.08%
• 1Y: 40.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.90%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAI First Trust Bloomberg Artificial Intelligence ETF	$1.56M	$3.03M	$3.57M
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

FAI vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FAI First Trust Bloomberg Artificial Intelligence ETF	23.08%	33.37%	2.28%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-5.59%

Correlation

The correlation between FAI and SBIT is -0.49, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.49
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	-0.46

Return for Risk

FAI vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FAI

FAI Risk / Return Rank: 48
FAI Sharpe Ratio Rank: 50
FAI Sortino Ratio Rank: 47
FAI Omega Ratio Rank: 45
FAI Calmar Ratio Rank: 53
FAI Martin Ratio Rank: 44

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FAI vs. SBIT - Risk-Adjusted Trends Comparison

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

	FAI	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.27	-0.04
Sortino ratio: Return per unit of downside risk	1.71	1.95	-0.23
Omega ratio: Gain probability vs. loss probability	1.21	1.23	-0.02
Calmar ratio: Return relative to maximum drawdown	1.91	2.35	-0.44
Martin ratio: Return relative to average drawdown	4.97	5.19	-0.21

FAI vs. SBIT - Sharpe Ratio Comparison

The current FAI Sharpe Ratio is 1.23, which is comparable to the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FAI 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

FAI vs. SBIT - Drawdown Comparison

The maximum FAI drawdown since its inception was -27.82%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for FAI and SBIT.

Drawdown Indicators

	FAI	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-27.82%	-91.35%	+63.53%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	-47.94%	+29.10%
Current Drawdown Current decline from peak	-12.57%	-77.87%	+65.30%
Average Drawdown Average peak-to-trough decline	-5.77%	-69.07%	+63.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.22%	21.67%	-14.45%

Volatility

FAI vs. SBIT - Volatility Comparison

The current volatility for First Trust Bloomberg Artificial Intelligence ETF (FAI) is 10.00%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that FAI 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

	FAI	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.00%	18.09%	-8.09%
Volatility (6M) Calculated over the trailing 6-month period	24.66%	67.10%	-42.44%
Volatility (1Y) Calculated over the trailing 1-year period	29.24%	88.65%	-59.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.30%	96.10%	-64.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.30%	96.10%	-64.80%

FAI vs. SBIT - Expense Ratio Comparison

FAI has a 0.65% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

FAI vs. SBIT - Dividend Comparison

FAI has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.

Position	TTM	2025	2024
FAI First Trust Bloomberg Artificial Intelligence ETF	0.00%	0.00%	0.04%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%

Frequently Asked Questions

Can I hold both FAI and SBIT in my portfolio?

FAI and SBIT have a correlation of -0.49, 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 SBIT?

SBIT has higher volatility (18.09%) compared to FAI (10.00%). In terms of maximum drawdown, FAI dropped -27.82% vs SBIT's -91.35%.

Which ETF is better, FAI or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 40.34% for FAI. On fees, FAI is cheaper at 0.65% per year. On volatility, FAI has been the lower-risk option at 10.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAI or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 40.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAI or SBIT?

FAI is cheaper with a 0.65% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.03%, compared with 0.00% for FAI.

What is the main difference between FAI and SBIT?

FAI is categorized as Artificial Intelligence, while SBIT is Cryptocurrency. FAI tracks Bloomberg Artificial Intelligence Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.65% for FAI and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs 1.23), 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.