FDEC vs. BITI
FDEC (FT Vest U.S. Equity Buffer ETF - December) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FDEC is a Defined Outcome fund actively managed by FT Vest, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. FDEC is actively managed, while BITI is passively managed. Over the past 3 years, FDEC returned 15.06%/yr vs -32.35%/yr for BITI. Their -0.35 correlation means they have often moved in opposite directions in the past. FDEC charges 0.85%/yr vs 1.03%/yr for BITI.
Performance
FDEC vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, FDEC achieves a 7.80% return, which is significantly lower than BITI's 25.22% return.
FDEC
- 1D
- 0.61%
- 1M
- 1.43%
- 6M
- 6.60%
- YTD
- 7.80%
- 1Y
- 17.72%
- 3Y*
- 15.06%
- 5Y*
- 10.52%
- 10Y*
- —
- ALL TIME*
- 11.38%
BITI
- 1D
- -1.48%
- 1M
- -4.03%
- 6M
- 13.09%
- YTD
- 25.22%
- 1Y
- 56.28%
- 3Y*
- -32.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.18M | $25.87M | $38.72M | |
| $730.86K | $640.26K | $2.05M |
FDEC vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FDEC FT Vest U.S. Equity Buffer ETF - December | 7.80% | 14.82% | 14.32% | 22.76% | 6.43% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between FDEC and BITI is -0.46, 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. | -0.46 |
Correlation (3Y) Balances recent behavior with more history. | -0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.35 |
The correlation between FDEC and BITI shifts across timeframes, from -0.46 (1 year) to -0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FDEC vs. BITI — Risk / Return Rank
FDEC
BITI
FDEC vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Buffer ETF - December (FDEC) 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.
| FDEC | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.22 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 2.24 | +0.81 |
| Martin ratioReturn relative to average drawdown | 15.39 | 5.45 | +9.94 |
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Drawdowns
FDEC vs. BITI - Drawdown Comparison
The maximum FDEC drawdown since its inception was -15.67%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FDEC and BITI.
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Drawdown Indicators
| FDEC | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.67% | -92.16% | +76.49% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | -25.28% | +19.45% |
Max Drawdown (3Y)Largest decline over 3 years | -13.04% | -84.63% | +71.59% |
Max Drawdown (5Y)Largest decline over 5 years | -15.67% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -86.33% | +86.33% |
Average DrawdownAverage peak-to-trough decline | -2.51% | -68.61% | +66.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 10.37% | -9.22% |
Volatility
FDEC vs. BITI - Volatility Comparison
The current volatility for FT Vest U.S. Equity Buffer ETF - December (FDEC) is 2.10%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that FDEC experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDEC | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 8.93% | -6.83% |
Volatility (6M)Calculated over the trailing 6-month period | 6.24% | 33.35% | -27.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.79% | 44.25% | -36.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.27% | 52.01% | -40.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.92% | 52.01% | -41.09% |
FDEC vs. BITI - Expense Ratio Comparison
FDEC has a 0.85% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
FDEC vs. BITI - Dividend Comparison
FDEC has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 21.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% |
FDEC FT Vest U.S. Equity Buffer ETF - December | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FDEC and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (8.93%) compared to FDEC (2.10%). In terms of maximum drawdown, FDEC dropped -15.67% vs BITI's -92.16%.
On 3-year performance, FDEC leads with 15.06% vs -32.35% for BITI. On fees, FDEC is cheaper at 0.85% per year. On volatility, FDEC has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FDEC has performed better with a 15.06% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDEC is cheaper with a 0.85% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 21.80%, compared with 0.00% for FDEC.
FDEC is categorized as Defined Outcome, while BITI is Cryptocurrency. They also come from different issuers: FT Vest and ProShares. Their fees differ too: 0.85% for FDEC and 1.03% for BITI.
FDEC currently has the higher Sharpe Ratio (2.29 vs 1.28), 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.
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