FARX vs. SBIT

Last updated Jul 14, 2026

FARX (Frontier Asset Absolute Return ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - FARX is a Multistrategy fund actively managed by Frontier, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). FARX is actively managed, while SBIT is passively managed. Over the past year, FARX returned 16.27% vs 124.12% for SBIT. At a correlation of -0.34, they often move in opposite directions. FARX charges 1.00%/yr vs 0.95%/yr for SBIT.

Performance

FARX vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Absolute Return ETF (FARX) 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, FARX achieves a 8.38% return, which is significantly lower than SBIT's 44.00% return.

FARX

• 1D: 0.15%
• 1M: 0.35%
• 6M: 5.61%
• YTD: 8.38%
• 1Y: 16.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FARX vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FARX Frontier Asset Absolute Return ETF	8.38%	10.61%	0.04%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	4.98%

Correlation

The correlation between FARX and SBIT is -0.36, 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	-0.37
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	-0.34

Return for Risk

FARX vs. SBIT — Risk / Return Rank

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

FARX

FARX Risk / Return Rank: 88
FARX Sharpe Ratio Rank: 86
FARX Sortino Ratio Rank: 84
FARX Omega Ratio Rank: 87
FARX Calmar Ratio Rank: 94
FARX Martin Ratio Rank: 89

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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.

FARX vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Absolute Return ETF (FARX) 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.

	FARX	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.41	+0.80
Sortino ratio: Return per unit of downside risk	3.00	2.05	+0.95
Omega ratio: Gain probability vs. loss probability	1.42	1.25	+0.17
Calmar ratio: Return relative to maximum drawdown	5.47	2.60	+2.86
Martin ratio: Return relative to average drawdown	15.76	5.92	+9.83

FARX vs. SBIT - Sharpe Ratio Comparison

The current FARX Sharpe Ratio is 2.21, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of FARX 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

FARX vs. SBIT - Drawdown Comparison

The maximum FARX drawdown since its inception was -5.83%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for FARX and SBIT.

Drawdown Indicators

	FARX	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-5.83%	-91.35%	+85.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-47.94%	+44.95%
Current Drawdown Current decline from peak	-1.41%	-77.15%	+75.74%
Average Drawdown Average peak-to-trough decline	-1.08%	-68.83%	+67.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	21.04%	-20.00%

Volatility

FARX vs. SBIT - Volatility Comparison

The current volatility for Frontier Asset Absolute Return ETF (FARX) is 2.08%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that FARX 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

	FARX	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	22.98%	-20.90%
Volatility (6M) Calculated over the trailing 6-month period	5.70%	68.89%	-63.19%
Volatility (1Y) Calculated over the trailing 1-year period	7.41%	88.51%	-81.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.04%	96.89%	-89.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.04%	96.89%	-89.85%

FARX vs. SBIT - Expense Ratio Comparison

FARX has a 1.00% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

FARX vs. SBIT - Dividend Comparison

FARX's dividend yield for the trailing twelve months is around 2.88%, less than SBIT's 3.97% yield.

Position	TTM	2025	2024
FARX Frontier Asset Absolute Return ETF	2.88%	3.25%	0.19%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both FARX and SBIT in my portfolio?

FARX and SBIT have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FARX or SBIT?

SBIT has higher volatility (22.98%) compared to FARX (2.08%). In terms of maximum drawdown, FARX dropped -5.83% vs SBIT's -91.35%.

Which ETF is better, FARX or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 16.27% for FARX. On fees, SBIT is cheaper at 0.95% per year. On volatility, FARX has been the lower-risk option at 2.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FARX or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 16.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FARX or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.00% for FARX.

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

SBIT has the higher dividend yield at 3.97%, compared with 2.88% for FARX.

What is the main difference between FARX and SBIT?

FARX is categorized as Multistrategy, while SBIT is Cryptocurrency. They also come from different issuers: Frontier and ProShares. Their fees differ too: 1.00% for FARX and 0.95% for SBIT.

Which has better risk-adjusted returns?

FARX currently has the higher Sharpe Ratio (2.21 vs 1.41), 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.